Solid State Lighting Market to Eclipse $56 Billion Over The Next Five Years

The On-Line industry news leader Edison Report rolls out word this week from a new market research report that the total Solid State Lighting (SSL) market is expected to reach $56.79 billion by 2018.

Edison Report cites the U.S.-based global market research and consulting company Markets and Markets recently published, “Solid State Lighting Market by Types (LED, OLED, and PLED), Application (General Lighting, Backlighting, Automotive, Medical), Verticals (Industrial, Residential, Consumer Electronics), Materials & Geography – Analysis & Forecast (2013-2018)“ that from 2013 to 2018, backlighting and general lighting application will contribute to the global Solid State Lighting applications market with a share of 87% in 2012 and is expected to record high growth in coming years.

According to Markets and Markets, the global Solid State Lighting Market has been segmented by types of SSL, applications and verticals. The Solid State Lighting Market by types includes Light emitting diodes (LED), Organic light emitting diodes (OLED) and Polymer based light emitting diodes (PLED). The SSL based LED’s are further segmented by materials used at different stages of manufacturing process in the report. LED based SSL are primarily utilized in general lighting and backlighting based applications. Energy efficient characteristics of the SSL lighting technologies will be integrated with light based medical applications.

The Markets and Markets report notes that OLED’s has high market share in backlighting applications adding that demand for OLED display has been accelerating as it has diverse applications and better display features. They say that going forward, with decreasing production costs, prices of OLED panels will decline and OLED will further penetrate the display market displacing LCD and LED display technologies. Many Asian companies have geared up to emerge as dominant players in the OLED equipment and materials market.

APAC is the leading region in the overall Solid State Lighting Market with 50% of market share in 2012; followed by North America and Europe with 23.9% and 19.9% each in 2012. In ROW, Russia, Brazil and the Middle East are the largest contributors with total share of 6.3% occupied in global Solid State Lighting Market.

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