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Solid state lighting (SSL) is a type of lighting that uses semiconductor light-emitting diodes (LEDs), organic light-emitting diodes (OLEDs), or polymer light-emitting diodes (PLEDs) instead of electrical filaments, plasma (used in arc lamps such as fluorescent lamps), or gas as sources of illumination. Over the forecast period, the global solid state lighting market is expected to develop significantly. The global solid state lighting market is growing due to increased demand for environmentally friendly and energy-saving lighting solutions. Illumination sector technological advancements seek to provide more lighting output with reduced power usage. Growing consumer awareness about energy efficient LED lights, high growth potential in applications such as automotive, medical, and outdoor lighting due to the use of solid state lighting, and emerging smart city technology are among the major factors driving the growth of the global solid state lighting market. Solid state lighting is utilized in a wide range of applications because of its various benefits, including extended life, higher light output quality, inherent safety, compact size, and great durability. As a result, over the forecast period, these factors are likely to enhance the global solid state lighting market. For instance, the net sales of Acuity Brands, a commercial and industrial lighting manufacturer, peaked in the fiscal year of 2018. In the 2020 fiscal year, Acuity Brands generated net sales around US$ 3.3 billion.

The global solid state lighting market is expected to grow as several lighting firms paying attention towards improvement of white LED performance and pricing, LED-based fixture designs will become more efficient, and solid-state lighting products will get a greater share of the mainstream general illumination market. The use of high-brightness (HB) LEDs for lighting applications is gaining traction, especially as HB LED performance (lumen output, efficiency) has improved substantially in the last year, allowing for a larger range of lighting applications. The term "solid-state lighting" has become a widely recognized terminology for the use of LEDs in lighting. Solid state luminaries are very energy-efficient and cost-effective, the solid state lighting industry is primarily driven by energy savings. Furthermore, the global solid state lighting market is anticipated to grow due to significant recent advantages of this form of lighting, an increase in governmental measures to help sustainable development, and a rise in population knowledge about the impacts of lighting on human health. Moreover, the concept of smart lighting and the development of technologies to improve the efficiency of solid state luminaries present attractive growth prospects. Technology investment in the solid state lighting industry are required to drive market growth. As growing consumer awareness about energy efficient LED lights, high growth potential in applications such as automotive, medical, and outdoor lighting due to the use of solid state lighting, and emerging smart city technology are among the major factors driving the growth of the global solid state lighting market.

Global Solid State Lighting Market - Impact of Coronavirus (Covid-19) Pandemic

Globally, most of the countries are affected by COVID-19 and most of them have announced lockdown. COVID-19 has a significant impact on the supply-side as well as the demand side of the manufacturing industry. Companies are quickly evaluating impacts on three fronts: supply chain, market demand, and workforce. COVID-19 crisis has impacted nearly every business, and its long-term consequences are expected to have an influence on industry growth during the forecast period. The COVID-19 outbreak had a negative impact on the solid state lighting source business, with manufacturing activities being temporarily halted throughout key manufacturing centers, and supply chain resulting in a significant output slowdown. In addition to affecting manufacturing, the ongoing pandemic has impacted customer demand for display-integrated products, which has likely been increased by the lockdown conflict.

Asia Pacific held dominant position in the global solid state lighting market in 2020.

Statistics:

Asia Pacific held dominant position in the global solid state lighting market in 2020, accounting for 28.6% share in terms of value, followed by Europe and North America.

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Solid State Lighting Market Report Coverage

Report Coverage Details
Base Year: 2020 Market Size in 2020: US$ 39.9 Bn
Historical Data for: 2017 to 2019 Forecast Period: 2021 to 2028
Forecast Period 2021 to 2028 CAGR: 12.4% 2028 Value Projection: US$ 98.5 Bn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., France, Italy, Spain, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia & New Zealand, South Korea, and Rest of Asia Pacific
  • Middle East and Africa: GCC Countries, South Africa, and Rest of Middle East and Africa
Segments covered:
  • By Type: LED, OLED, and PLED
  • By Application: Indoor Lighting and Outdoor Lighting
  • By Installation Type: New Installation and Retrofit
  • By End User: Commercial, Residential, Industrial (Automotive, Healthcare, Entertainment, and Others)
Companies covered:

Acuity Brands, Cree, Inc., Eaton, GE Lighting, Philips Lighting/Signify, Osram Group, Nichia Corporation, Seoul Semiconductor, Zumtobel Group, Everlight Electronics, GE Lighting, General Electric, Mitsubishi Electric Pvt. Ltd, Intematix, BRIGHT LIGHT SYSTEMS, AIXTRON, Applied Materials, Bridgelux, and Energy Focus Inc.

Growth Drivers:
  • Increase in demand of cost effective and energy saving system
  • Government initiatives in solid state lighting industry
  • New technological opportunities in the industry
  • Growing Industrialization is expected to drive the solid state light market
Restraints & Challenges:
  • High initial cost of solid state lighting systems
  • lack of awareness among the customers

Figure 1: Global Solid State Lighting Market Share (%), By Region, 2020

Solid State Lighting  | Coherent Market Insights

Asia Pacific is expected to account for the largest market share during the forecast period, owing to the presence of major key players such as Nichia Corporation, Everlight Electronics, Mitsubishi Electric Pvt. Ltd, and many others in the region. Furthermore, Japan's solid state lighting sector continues to get Japan government’s backing and investment. The Japanese initiatives aimed to take advantage of the massive energy savings and greenhouse gas reductions that have resulted from the development of high-performance white LEDs.

North America is expected to exhibit significant growth during the forecast period, owing to the increasing adoption of solid state lighting in various industries. Most companies are preferring solid state lighting as it is very popular in various industries such as healthcare, commercial, automotive, and many others.

Automotive industry segment is expected to drive the market growth during the forecast period.

Among end user, the automotive segment is expected to hold dominant position in the global solid state lighting market during the forecast period. Automotive manufacturers benefit from solid-state and other energy-efficient lighting technologies because of its high efficiency and extended battery life. The automobile industry is rapidly integrating solid state lighting technology for vehicle application.

Figure 2: Global Solid State Lighting Market Value (US$ Bn) Analysis and Forecast, 2021 - 2028

Solid State Lighting  | Coherent Market Insights

The global solid state lighting market was valued at US$ 39.9 Bn in 2020 and is expected to reach US$ 98.5 Bn by 2028 at a CAGR of 12.4% between 2021 and 2028.

Major players operating in the global solid state lighting market include Acuity Brands, Cree,Inc., Eaton, GE Lighting, Philips Lighting/Signify, Osram Group, Nichia Corporation, Seoul Semiconductor, Zumtobel Group, Everlight Electronics, GE Lighting, General Electric, Mitsubishi Electric Pvt. Ltd, Intematix, BRIGHT LIGHT SYSTEMS, AIXTRON, Applied Materials, Bridgelux, and Energy Focus Inc.

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 a number of 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 light 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. The growing usage of ultraviolet light, along with government initiatives, are boosting growth of global solid state lighting market. The industry's major driving forces include technical progress and reduced maintenance costs. At the same time, the solid lighting industry is constrained by expensive equipment costs, high implementation costs, and a lack of awareness.

Market Dynamics

Solid state lighting refers to an LED light that is 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, solid state lighting (SSL) has developed to the point where the light-emitting diode (LED) is now the dominant light source.

For instance, according to International Energy Agency (IEA) report, LED sales surpassed a significant milestone in 2019, with more than 10 billion units sold worldwide, including both light sources (bulbs, tubes, modules) and luminaires. LED deployment is progressing in both residential and commercial settings, and LED sales has already surpassed fluorescent light sales. LED use has risen dramatically in recent years, from 5% of global lighting sales in 2013 to almost half of global lighting sales in 2019, with integrated LED luminaires accounting for a growing percentage. LEDs were originally employed in signal devices such as traffic lights and exit signs, then in select limited illumination applications such as flashlights, and finally in most general illumination applications, from residences to business spaces to outdoor lighting, due to technological advancements.

Solid state lights are more energy efficient than any other lighting sources. LEDs are the ideal lighting choice for public areas because of their extended life. This factor has a significant influence since end consumers choose lighting systems and technologies that consume less energy. With continuous improvements in light efficacy, quality, and operational life, demand for solid state lighting technology is expected to grow rapidly. High-brightness LEDs, which are utilized for traffic lights, signs, and automobile backlights, have boosted solid state lighting technology.

Solid state lighting and LED are more widely used in the automobile sector. LED adoption is driving development and enhanced functionality in automotive lighting, which is beginning to filter down from high-end vehicles to mid-range and low-end vehicles. The demand for variety also drives the use of solid-state lighting (SSL). For instance, in developed nations, such as North America, Canada, Finland, and Denmark, lighting patterns established with daytime running lights (DRL) and rear light designs are increasingly becoming a must-have.

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 at first. LED bulbs are more expensive than traditional incandescent lighting. When the extended lifespan of the SSL lamp is considered, as well as the long-term decrease in energy usage, customers may find that utilizing SSL lights in as many settings as feasible saves the money.

The market of solid state lightning in Asia Pacific is growing because of the 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 propel the market forward.

Key features of the study:

  • This report is a comprehensive and in-depth research of the global solid state lighting market, with an emphasis on global market trend analysis
  • The report's goal is to give clients a high-level overview of the solid state lighting, as well as extensive market segmentation by type, end user, application, installation type and region. During the forecast period, the global solid state lighting market is predicted to rise rapidly.
  • The research covers major trends and opportunities in the global solid state lighting, as well as critical information on the market position of the major solid-state lighting industry companies
  • This report includes market size and forecast estimates for five major regions: North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and Latin America, from 2021 to 2028. The Solid-State Lighting market is further segmented by nations and segments in each region.
  • The study explores demand and supply side factors driving the global solid state lighting market, as well as key dynamics impacting the market throughout the projected period, such as drivers, restraints, opportunities, and future trends
  • With the increased demand for solid-state lighting in the worldwide industry, key participants in the global solid state lighting market are expected to benefit from attractive growth prospects in the future.
  • Companies covered as a part of this study include Acuity Brands, Cree, Eaton, GE Lighting, Philips Lighting/Signify, Osram Group, Nichia Corporation, Seoul Semiconductor, Zumtobel Group, Everlight Electronics, GE Lighting, General Electric, Mitsubishi Electric Pvt. Ltd, Intematix, Bright Light System, AIXTRON, Applied Materials, Bridgelux, and Energy Focus Inc.
  • Insights from this report would allow marketers and management authorities of companies to make informed decisions regarding future product launches, product upgrades, market expansion, and marketing tactics

Detailed Segmentation:

  • Global Solid State Lighting Market, By Type:
    • LED
    • OLED
    • PLED
  • Global Solid State Lighting Market, By Application:
    • Indoor Lighting
    • Outdoor Lighting
  • Global Solid State Lighting Market, By Installation Type:
    • New Installation
    • Retrofit
  • Global Solid State Lighting Market, By End User:
    • Commercial
    • Residential
    • Industrial
      • Automotive
      • Healthcare
      • Entertainment
      • Others
  • Global Solid State Lighting Market, By Region:
    • North America
      • By Type:
        • LED
        • OLED
        • PLED
      • By Application:
        • Indoor Lighting
        • Outdoor Lighting
      • By Installation Type:
        • New Installation
        • Retrofit
      • By End User:
        • Commercial
        • Residential
        • Industrial
          • Automotive
          • Healthcare
          • Entertainment
          • Others
      • By Country:
        • U.S.
        • Canada
    • Asia Pacific
      • By Type:
        • LED
        • OLED
        • PLED
      • By Application:
        • Indoor Lighting
        • Outdoor Lighting
      • By Installation Type:
        • New Installation
        • Retrofit
      • By End User:
        • Commercial
        • Residential
        • Industrial
          • Automotive
          • Healthcare
          • Entertainment
          • Others
      • By Country:
        • China
        • India
        • Japan
        • Australia & New Zealand
        • South Korea
        • Rest of Asia Pacific
    • Europe
      • By Type:
        • LED
        • OLED
        • PLED
      • By Application:
        • Indoor Lighting
        • Outdoor Lighting
      • By Installation Type:
        • New Installation
        • Retrofit
      • By End User:
        • Commercial
        • Residential
        • Industrial
          • Automotive
          • Healthcare
          • Entertainment
          • Others
      • By Country:
        • Germany
        • Italy
        • U.K.
        • France
        • Spain
        • Russia
        • Rest of Europe
    • Latin America
      • By Type:
        • LED
        • OLED
        • PLED
      • By Application:
        • Indoor Lighting
        • Outdoor Lighting
      • By Installation Type:
        • New Installation
        • Retrofit
      • By End User:
        • Commercial
        • Residential
        • Industrial
          • Automotive
          • Healthcare
          • Entertainment
          • Others
      • By Country:
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Middle East and Africa
      • By Type:
        • LED
        • OLED
        • PLED
      • By Application:
        • Indoor Lighting
        • Outdoor Lighting
      • By Installation Type:
        • New Installation
        • Retrofit
      • By End User:
        • Commercial
        • Residential
        • Industrial
          • Automotive
          • Healthcare
          • Entertainment
          • Others
      • By Country/Region:
        • GCC Countries
        • South Africa
        • Rest of Middle East and Africa
  • Company Profiles:
    • Acuity Brands*
      • Company Overview
      • Product Portfolio and Specifications
      • Financial Performance
      • Strategic Overview
      • Recent Developments/Updates
    • Cree, Inc.
    • Eaton
    • GE Lighting
    • Philips Lighting/Signify
    • Osram Group
    • Nichia Corporation
    • Seoul Semiconductor
    • Zumtobel Group
    • Everlight Electronics
    • GE Lighting
    • General Electric
    • Mitsubishi Electric Pvt. Ltd
    • Intematix
    • BRIGHT LIGHT SYSTEMS
    • AIXTRON
    • Applied Materials
    • Bridgelux
    • Energy Focus Inc.

“*” marked represents Key Pointers are applicable to other companies as well

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Type
      • Market Snippet, By Application
      • Market Snippet, By Installation Type
      • Market Snippet, By End User
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Regulatory Scenario
    • Industry Trend
    • Merger and Acquisitions
    • New system Launch/Approvals
    • Value Chain Analysis
    • Porter’s Analysis
    • PEST Analysis
    • Impact of COVID-19
  4. Global Solid State Lighting Market, By Type, 2017-2028 (US$ Million)
    • Introduction
      • Market Share Analysis, 2021 and 2028 (%)
      • Segment Trends
    • LED
      • Introduction
      • Market Size and Forecast, 2017–2028, (US$ Million)
    • OLED
      • Introduction
      • Market Size and Forecast, 2017–2028, (US$ Million)
    • PLED
      • Introduction
      • Market Size and Forecast, 2017–2028, (US$ Million)
  5. Global Solid State lighting Market, By Application, 2017-2028 (US$ Million)
    • Introduction
      • Market Share Analysis, 2021 and 2028 (%)
      • Segment Trends
    • Indoor Lighting
      • Introduction
      • Market Size and Forecast, 2017–2028, (US$ Million)
    • Outdoor Lighting
      • Introduction
      • Market Size and Forecast, 2017–2028, (US$ Million)
  6. Global Solid State Lighting Market, By Installation Type, 2017-2028 (US$ Million)
    • Introduction
      • Market Share Analysis, 2021 and 2028 (%)
      • Segment Trends
    • New Installation
      • Introduction
      • Market Size and Forecast, 2017–2028, (US$ Million)
    • Retrofit
      • Introduction
      • Market Size and Forecast, 2017–2028, (US$ Million)
  7. Global Solid State Lighting Market, By End User, 2017-2028 (US$ Million)
    • Introduction
      • Market Share Analysis, 2021 and 2028 (%)
      • Segment Trends
    • Commercial
      • Introduction
      • Market Size and Forecast, 2017–2028, (US$ Million)
    • Residential
      • Introduction
      • Market Size and Forecast, 2017–2028, (US$ Million)
    • Industrial
      • Introduction
      • Market Size and Forecast, 2017–2028, (US$ Million)
        • Automotive
          • Introduction
          • Market Size and Forecast, 2017–2028, (US$ Million)
        • Healthcare
          • Introduction
          • Market Size and Forecast, 2017–2028, (US$ Million)
        • Others
          • Introduction
          • Market Size and Forecast, 2017–2028, (US$ Million)
  8. Global Solid State Lighting Market, By Region, 2017-2028 (US$ Million)
    • Introduction
      • Market Share Analysis, By Region, 2021 and 2028 (%)
    • North America
      • Regional Trends
      • Market Size and Forecast, By Type, 2017–2028 (US$ Million)
      • Market Size and Forecast, By Application, 2017–2028 (US$ Million)
      • Market Size and Forecast, By Installation Type, 2017–2028 (US$ Million)
      • Market Size and Forecast, By End User, 2017–2028 (US$ Million)
      • Market Share Analysis, By Country, 2021 and 2028 (%)
        • U.S.
        • Canada
    • Europe
      • Regional Trends
      • Market Size and Forecast, By Type, 2017–2028 (US$ Million)
      • Market Size and Forecast, By Application, 2017–2028 (US$ Million)
      • Market Size and Forecast, By Installation Type, 2017–2028 (US$ Million)
      • Market Size and Forecast, By End User, 2017–2028 (US$ Million)
      • Market Share Analysis, By Country, 2021 and 2028 (%)
        • U.K.
        • Germany
        • Italy
        • France
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Regional Trends
      • Market Size and Forecast, By Type, 2017–2028 (US$ Million)
      • Market Size and Forecast, By Application, 2017–2028 (US$ Million)
      • Market Size and Forecast, By Installation Type, 2017–2028 (US$ Million)
      • Market Size and Forecast, By End User, 2017–2028 (US$ Million)
      • Market Share Analysis, By Country, 2021 and 2028 (%)
        • China
        • India
        • Japan
        • Australia & New Zealand
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Regional Trends
      • Market Size and Forecast, By Type, 2017–2028 (US$ Million)
      • Market Size and Forecast, By Application, 2017–2028 (US$ Million)
      • Market Size and Forecast, By Installation Type, 2017–2028 (US$ Million)
      • Market Size and Forecast, By End User, 2017–2028 (US$ Million)
      • Market Share Analysis, By Country, 2021 and 2028 (%)
        • Brazil
        • Argentina
        • Mexico
        • Rest of Latin America
    • Middle East and Africa
      • Regional Trends
      • Market Size and Forecast, By Type, 2017–2028 (US$ Million)
      • Market Size and Forecast, By Application, 2017–2028 (US$ Million)
      • Market Size and Forecast, By Installation Type, 2017–2028 (US$ Million)
      • Market Size and Forecast, By End User, 2017–2028 (US$ Million)
      • Market Share Analysis, By Country/Region, 2021 and 2028 (%)
        • South Africa
        • GCC Countries
        • Rest of the Middle East and Africa
  9. Competitive Landscape
    • Company Profiles
      • Acuity Brands
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Cree, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Eaton
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • GE Lighting
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Philips Lighting/Signify
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Osram Group
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Nichia Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Seoul Semiconductor
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Zumtobel Group
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Everlight Electronics
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • GE Lighting
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • General Electric
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Mitsubishi Electric Pvt. Ltd
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Intematrix
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Bright Light System Inc.,
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • AIXTRON
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Applied Materials
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Bridgelux
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Energy Focus Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
    • Analyst Views
  10. Section
    • References
    • Research Methodology
    • About us and Sales Contact

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.


Data Triangulation Methodology | Coherent Market Insights

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

Market Analysis | Coherent Market Insights

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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