Portland, OR -- (SBWIRE) -- 10/13/2017 -- Solid-State Lighting (SSL) products such as LED, OLED, and CFL consumes very less energy and makes less dissipation of heat compared to traditional lighting systems such as incandescent offering increased illumination for a range of lighting applications. SSL is suitable for low-space applications such as automotive lighting.

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The increasing demand for environmentally-friendly lighting technologies coupled with low energy consumption is key factors that drive the growth of the global SSL and other energy-efficient lighting systems market. The adoption of lighting products with long shelf-life along with the robust design of these for better efficiency is the other factors that will boost the growth of the market. Furthermore, various government initiatives promoting the use of SSL technologies over conventional lighting are the factors that will foster the solid-state lighting and fluorescent lighting market. SSL technologies that can be used for limited or small spaces are other factors that will fuel the growth of the market. The high initial cost of equipment giving SSL & FL technologies along with lack of efficiency in heat-sensitive applications are the factors that will hamper the growth of the market. Lighting applications in commercial and residential buildings will offer ample growth opportunities to the solid-state lighting and fluorescent lighting market. Continual R&D activities in the domain of optoelectronics and high brightness LEDs which can emit white light giving natural feel are the factors that will offer more market opportunities for SSL, particularly in general automotive lighting segment.

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The report segments the solid-state lighting and fluorescent lighting market on the basis of applications, technology, and type of installation, industry verticals, and geography. On the basis of technology, the market is segmented into solid-state lighting, fluorescent lighting, and CCFL. On the basis of technology, the solid-state lighting market is further segmented into LED & OLED. On the basis of technology, the fluorescent lighting is further segmented into LFL& CFL which is further segmented into plug-in CFL, integral CFL, adapter CFL, screw-based, and pin-mounted. On the basis of installation, the market is further segmented into new installation and retrofit. On the basis of applications, the market is segmented into general lighting backlighting, automotive lighting, and medical lighting, among others. On the basis of industry verticals, the market is segmented into residential, commercial, educational, consumer electronics, industrial, medical and transportation. On the basis of geography, the market is segmented into North America, Europe, APAC, and ROW.

Key market players in the report are Osram Licht AG, Royal Philips Electronics N.V, Nichia Corporation, Seoul Semiconductor Co. Ltd., and General Electric Company.