New York, NY -- (SBWIRE) -- 01/12/2018 -- Technological changes have led to a scenario where high heat generating and energy consuming illumination sources such as electrical filaments, plasma, gas etc. are replaced by less heat generating and energy consuming illumination sources such as light-emitting diodes (LEDs), organic light-emitting diodes (OLEDs), polymer light-emitting diodes (PLEDs) etc. Henceforth, lighting generation by making use of filament, gas etc. as a source have also witnessed a transition to LEDs, OLEDs etc. sources.

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Solid state lighting is a process of generating light by making use of semiconductor LEDs, OLEDs etc. as a source of illumination. Greater resistance to shocks & vibrations, enhanced quality light output, smaller & flexible lighting fixtures and longer life span of the product are some of the added advantages of solid state lighting over conventional brittle glass tubes/bulbs etc.

Solid State Lightings are widely adopted and used in traffic lights, train marker lights, remote controls, building exteriors, parking lot lights, vehicle lights etc. Initiations from government are also witnessed for the adoption of solid state lighting.

Solid State Lighting Market: Drivers and Challenges

A high adoption of LED, OLED, and PLED technology in replacement of filaments, gas etc. is expected to drive the overall growth of solid state lighting. The rate of replacement of light emission using filaments, gas etc, sources with LEDs, OLED, PLEDs etc., furthermore, justifies the growth of solid state lighting market. Global expansion of semiconductor industry simultaneously boosts the demand of solid state lighting, acting as a primary driver for the global solid state lighting market. Additionally, increasing applications of solid state lighting in various industries is driving the growth of Solid State Lighting market.

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The primary factor hampering the growth of solid state lighting is its high costs. Additionally, the inefficiency of solid state lighting in heat sensitive applications also acts a restraint for solid state lighting market.

Solid State Lighting Market: Key Players

Some of the key players of Solid State Lighting market are OSRAM GmbH, Philips Lighting Holding B.V., NICHIA CORPORATION, Semiconductor Co., Ltd., General Electric Company, Intematix Corporation, BRIGHT LIGHT SYSTEMS, INC., AIXTRON SE, Applied Materials, Inc. and Bridgelux, Inc.

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Solid State Lighting Market: Regional Overview

By geography, Solid State Lighting market can be segmented across North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan and Middle East & Africa. Among various regions, North America is expected to dominate the global Solid State Lighting Market during the forecast period, owing to government initiatives to adopt energy-efficient and eco-friendly technologies for illumination by banning incandescent bulbs and high implementation of solid state lighting systems across various industries. APEJ is expected to grow at the fastest rate in the forecast period, corresponding to the increasing manufacturing of semiconductors, and expansion of the same.