Solid-State and Other Energy-Efficient Lighting Market growing at a CAGR of 5.38%
Solid-State and Other Energy-Efficient Lighting Market by Technology (Solid-State, HID, Fluorescent)
USA, 13 June 2019
-- Solid-State and Other Energy-Efficient Lighting Market by Technology (Solid-State, HID, Fluorescent), Installation Type (New & Retrofit)
The solid-state and other energy-efficient lighting market was valued at USD 118.29 Billion in 2015 and is expected to reach USD 174.45 Billion by 2022, growing at a CAGR of 5.38% during the forecast period. The growth of this market is propelled by several factors such as rising demand for environment-friendly lighting technologies, reduction in the overall maintenance costs of solid-state and other energy-efficient lighting products, and increased infrastructure growth in various developing countries such as India, China, and South Korea.
The major opportunities for this market are growing adoption of LED lighting in the automotive industry and development of wireless technology. Some of the major players operating in the solid-state and other energy-efficient lighting market are OSRAM Licht AG (Germany), Royal Philips Electronics N.V. (Netherlands), Seoul Semiconductor Co., Ltd. (South Korea), General Electric Company (U.S.), Nichia Corporation (Japan), AIXTRON SE (Germany), Applied Materials, Inc. (U.S.), Applied Science and Technology Research Institute Company Limited (Hong Kong), Bridgelux, Inc. (U.S.), Cree, Inc. (U.S.), Acuity Brands, Inc. (U.S.), Advanced Lighting Technologies, Inc. (U.S.), Energy Focus, Inc. (U.S.), Intematix Corporation (U.S.), LED Engin, Inc. (U.S.), Toyoda Gosei Co., Ltd. (Japan), TCP International Holdings Ltd. (Switzerland), Topanga Technologies, Inc. (U.S.), Ceravision Ltd (U.K.), and Bright Light Systems, Inc. (Georgia).
OSRAM Licht AG (Germany) was ranked first in the solid-state and other energy-efficient lighting market. The company focuses on strategies such as new product launches and acquisitions to grow in the market. In July 2016, the company signed an agreement with LEDVANCE (China) to grow its sales and distribution network. In November 2015, the company opened a new application center in Shanghai. This brings OSRAM closer to business customers in the Asian region. The company has diversified business operations along with a strong portfolio of lighting solutions in the solid-state and other energy-efficient lighting market.
Royal Philips Electronics N.V. (Netherlands) was ranked second in the solid-state and other energy-efficient lighting market. The company focuses on strategies such as new product launches and collaborations. In May 2015, the company launched ActiveSite, a cloud-based connected lighting management platform. It allows the company’s architectural LED lighting systems to be monitored, maintained, and managed remotely, and its content can be uploaded from anywhere in the world. Also, in April 2015, the company collaborated with Tandus Centiva (U.S.) to develop luminous carpets using LED technology.
The solid-state and other energy-efficient lighting market value chain comprises many entities from lighting component manufacturers to technology providers. Products and devices are distributed by specialized distributors that are into lighting and related fields. Some of the manufacturers that have a strong presence across the concerned geographic regions have a built-in distribution network. Distributors and manufacturers often establish partnerships with distributors across various regions having expertise in products and services concerned with solid-state and other energy-efficient lighting because of the lack of knowledge of networking. These distributors are key points of contact for professional and custom installers. They consist of a strong network of system integrators, which include custom system integrators, dealers, business models, and contractors.
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Submitted by stevestark002 on Thursday, 13 June 2019 at 7:09 PM
Category: Consumer Technology
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