The global solid state lighting market is valued at $3.65 billion in 2019 and is expected to reach $74.25 billion in 2027, with an annual average growth of 12% from 2021 to 2027. Solid state lighting devices consist of semiconductors that convert electricity into light. Solid state lighting devices generate visible light through electroluminescence, a phenomenon in which a specially manufactured semiconductor diode emits light when passing an electric current. Solid state lighting is used in a variety of applications due to its various advantages such as long life, better light output quality, intrinsically safe, small size and high durability. Therefore, these factors are expected to strengthen the solid state lighting market during the forecast period.
A full report of Solid-State Cooling Market available at https://www.orionmarketreports.com/solid-state-lighting-market/23056/
Solid State Lighting Market- Segmentation
By Type
• Light Emitting Diodes (LED)
• Organic Light Emitting Diodes (OLED)
• Polymer Light Emitting Diodes (PLED)
By Installation Type
• New Installation
• Retrofit
By Application
• Indoor Lighting
• Outdoor Lighting
• Specialty Lighting
By Industry Vertical
• Residential
• Industrial and Commercial
• Medical
• Transportation
• Others
Key players
• Cree, Inc.
• Energy Focus Inc.
• General Electric Company
• Nichia Corporation
• Osram Licht AG
• Royal Philips Electronics N.V.
• Samsung Electronics Co., Ltd.
• Seoul Semiconductor Co. Ltd.
• Sharp Corporation
• Toshiba Corporation
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
