Solid State Lighting Market
Solid state lighting (SSL) is a type of lighting that includes semiconductor light-emitting diodes (LEDs), organic light-emitting diodes (OLEDs), or polymer light-emitting diodes (PLEDs). Solid state lighting has several advantages over traditional thin plastic tubes/bulbs including greater stress and vibration resistance, higher quality light output, smaller and more flexible lighting fixtures, and a longer product life span. Solid state lighting is mostly used in traffic lights, car lights, street and parking lot lights, railway lights, building exteriors, and remote controls. Solid state lighting is gaining popularity among end users such as industrial, commercial, and others. Rising usage of ultraviolet light, along with government initiatives, are expected to drive the market growth. The industry's major driving factors include technical progress and reduced maintenance costs. Global solid state lighting market growth can be hindered by expensive equipment costs, high implementation costs, and a lack of awareness regarding solid state light products.
Market Dynamics:
Solid state lighting refers to an LED light, a full lighting component designed for a specific application. Due to the smaller size of the LEDs, these systems are usually more compact than classic "lamp" powered lighting systems. In several lighting applications, light-emitting diode (LED) is now the dominant light source solid state lighting (SSL) market.
Solid state lighting are more energy efficient than any other lighting sources. LEDs are the ideal lighting choice for public areas due to its extended life. This factor has a significant influence as end consumers choose lighting systems and technologies that consume less energy. The demand for solid state lighting technology is expected to grow rapidly due to improvements in light efficacy, quality, and operational life,. High-brightness LEDs are utilized for traffic lights, signs, and automobile backlights.
Solid state lighting and LED are more widely used in the automotive sector. LED adoption is boosting development and enhanced functionality in automotive lighting. The demand for variety also drives the use of solid-state lighting (SSL). In developed nations such as North America, Finland, and Denmark, lighting patterns established with daytime running lights (DRL) and rear light designs are integrated in vehicles.
The costs of implementation and equipment of SSL are high. While solid state and other energy-efficient lighting can save money in the long term, the cost of implementation and equipment is quite expensive. LED bulbs are more expensive than traditional incandescent lighting. The extended lifespan of the SSL lamp and long-term decrease in energy usage offered by them is expected to drive the adoption of SSL among customers.
The market of solid state lightning in Asia Pacific is growing, owing to rising usage of solid state lighting in both indoor and outdoor lighting in emerging nations such as India and China. Increasing demand for warehouse lighting, as a result of China's and India's rising industrialization and expansion of the automotive industry is expected to drive the market growth.
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*Browse 24 market data tables and 28 figures on "Global Solid State Lighting Market”- Global Forecast to 2030
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