Solid-state and Other Energy-efficient Lighting Market – Industry Perspective, Demand and Key Vendors by 2024

Solid-state and Other Energy-efficient Lighting Market

Global Solid-state and Other Energy-efficient Lighting Market: Overview

To resolve the problem of expanding crisis of energy and its increasing consumption, that results in the depletion of the fossil fuels and increase the pollution, the solid-state and other energy-efficient lighting forms are used. The demand for the lighting solutions that are energy-efficient will increase in the coming years. This will initiate the consumers to use greener products. Other benefits of using solid-state and other energy-efficient lighting are it provides good battery life and improves the lifespan.

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Global Solid-state and Other Energy-efficient Lighting Market: Segmentation

The global solid-state and other energy-efficient lighting market is segmented into technology, installation type, application, and offering. On the basis of technology, the market is segregated into HID lighting, plasma and induction lighting, solid-state lighting, and fluorescent lighting, and others. Based on the installation type, the market is divided into retrofit installation and new installation. Depending on the application, the market is categorized into backlighting, medical lighting, projector and emergency lighting, general lighting, automotive lighting, and others. On the basis of offering the market is bifurcated into services, hardware, and software.

Global Solid-state and Other Energy-efficient Lighting Market: Growth Factors

In the recent years, the demand for the energy has increased drastically owing to the increased advancements. Owing to this soaring consumption of energy the carbon emissions have increased and the greenhouse effect has also increased. All these factors have forced many governments in various regions to take efforts and adapt the solid-state and other energy-efficient lighting solutions to reduce the consumption of energy. The solid-state and other energy-efficient lighting solutions are used for backlighting, medical lighting, general lighting, automotive lighting, and others. The rise in the constructional activities will boost the overall market growth in the coming years. Other factors that have triggered the market demand are growing population, rapid urbanization, and migration. New constructional activities have started to adopt energy-efficient ways in order to consume the energy efficiently.

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Global Solid-state and Other Energy-efficient Lighting Market: Regional Analysis

Geographical segmentation of the solid-state and other energy-efficient lighting market includes North America, Europe, Asia-Pacific, and Rest of the World. North America will show a steady growth in the global market in the coming years. In order to reduce the carbon footprints and minimize the consumption of energy, the construction industry in the US has adopted better lighting solutions thus driving the market growth. The European region is also following the same trend owing to the strict government regulations regarding the efficient solutions for lighting. In the Asia-Pacific region, China is leading the market owing to the large investments made by the government for constructing better infrastructure for the people. The increasing adoption of solid-state and other energy management solutions is increasing the demand.

Global Solid-state and Other Energy-efficient Lighting Market: Competitive Players

The major market players in the solid-state and other energy-efficient lighting market include Phillips Lighting Holding B.V., OSRAM Licht AG, Cooper Industries, Inc., Dialight Plc., Samsung, General Electric Company, Cree, Inc., Virtual Extension, Zumtobel Group AG, and Sharp Corporation.

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