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Solid State Lighting Display Market Is Projected to Slowly Take off in the Near Future with Declining Production Costs

Solid State Lighting Display Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024


Albany, NY -- (SBWIRE) -- 01/11/2017 -- In the developed nations, lighting contributes to almost a quarter of the total electricity that is consumed. Solid state lighting display is defined as a kind of illumination technology which makes use of semiconductor illumination diodes as sources of lighting instead of electrical filaments, gas or plasma. This light is generally given out by solid electro luminescence rather than fluorescent tubes or incandescent bulbs.

From the global perspective, major driving forces for the global solid state lighting market are robust and efficient design for greater productivity, relatively lower energy consumption and longer life cycle of eight to ten years, initiatives of the government to adopt solid state technology, provision of a feel of natural illumination, and its use in small, limited spaces. However, the production cost of solid state lights with current technology and processes impedes its competitiveness and growth in the display market. Other limiting factors are the fact that they are ineffective for applications that are heat sensitive, and that the initial investment cost of equipment is high.

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Applications of the solid state lighting display products in residential and commercial illumination provide huge opportunities in the global market. In terms of energy, this emerging technology has the potential to operate at ten times the efficiency levels of traditional incandescent lighting. Traditional lighting is even getting banned in certain regions and countries such as the European Union and the U.S., where the governments are planning to completely phase out the halogen lights. Besides, the launch of LEDs emitting white colored light, and extensive research in au and development in the branch of optoelectronics, have created greater opportunities to the solid state lighting display market, especially across applications of low space in automotive lighting. Though presently it is used majorly in domestic establishments, the market is projected to slowly take off in the near future with declining production costs, growing consumer awareness and increasing adoption of solid state lighting technology in the recent past.

The global solid state lighting display market can be segmented on the basis of end user industries, applications, technology and the type of installations. On the basis of end use, the market is segmented into commercial, residential, educational, industrial, consumer electronics, healthcare and transportation. The categories of applications are automotive lighting, backlighting, media lighting, general lighting, and other illuminations. On the basis of application, general lighting has been capturing the largest market share over the years, while the segment expected to exhibit the highest growth rate in the forecast period is automotive lighting. On the basis of technology, the global market can be segmented into light emitting diodes (LED), organic light emitting diodes are (OLED), and polymer light emitting diodes (PLED) The segmentations on the basis of installation type are retrofit and new installation.

On the basis of geography, the global solid state lighting display market can be segmented into North America, Europe, Asia Pacific, and the Rest of the World. There has been a sharp rising trend of consumer awareness in developed countries such as the U.S., Japan, and countries of the European Union. In developing economies such as India, China, and the Middle East countries, high adoption rates are forecast for the solid state lighting technology.

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The key players in the solid state lighting display market are Royal Philips Electronics N.V., Osram Licht AG, Nichia Corporation, Seoul Semiconductor Co. Ltd, General Electric Company, Applied Science and Technology Research Institute, Fairchild Semiconductor International, Advanced Lighting Technologies Inc, Citizen Electronics Co. Ltd, Cambridge Display Technology Ltd, TCP International Holdings Ltd and Tridonic Gmbh & Co. KG.