Solid State Lighting System Application Market to Grow with a CAGR of 6.58% Globally through to 2028

Solid State Lighting System Application is increasing due to energy efficiency and cost savings in the forecast period, 2024-2028.

According to TechSci Research report, “Global Solid State Lighting System Application Market - Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028  Global Solid State Lighting System Application market has witnessed tremendous growth in recent years, reaching a valuation of USD 24.57 billion in 2022. The market is projected to continue its strong upward trajectory, posting a CAGR of 6.58% from 2024 to 2028. Global Solid State Lighting System Application market has witnessed significant growth over the past year, driven by increasing adoption across various industries. Critical sectors like manufacturing, transportation and healthcare have recognized LED lighting as a strategic component to support operations. LED lighting offers various advantages over traditional lighting technologies like lower power consumption, longer lifespan and design flexibility. Manufacturing plants have widely adopted LED lighting for industrial applications to reduce energy costs. Transportation sectors have also upgraded to LED lighting for better visibility and safety. Healthcare facilities have installed LED lighting solutions to support specialized applications like surgery and patient care.

Companies are partnering with leading LED lighting providers to develop integrated solutions customized for their needs. This allows real-time monitoring and control of lighting networks. Advanced LED luminaires with sensors and IoT enable features like dimming, scheduling and remote management. They provide real-time insights on lighting performance as well as predictive maintenance. Ongoing R&D is driving innovation in LED technology. Micro and mini LEDs are allowing ultra-thin and flexible form factors for novel applications. Integration of LEDs with 5G, AI and computer vision will lead to smart and autonomous lighting systems. As industries increasingly automate operations, reliance on such data-driven lighting networks will rise. Government policies around the world promoting energy efficiency and sustainability are also propelling market growth. Subsidies and regulations and phasing out inefficient lighting are accelerating the replacement of conventional lights with LEDs. The evolving needs of digitalized industries are expected to sustain long-term demand for advanced solid state lighting system applications.

Browse over 26 market data Figures spread through 91 Pages and an in-depth TOC on "Global Solid State Lighting System Application Market.”

Global Solid State Lighting System Application market is segmented by Technology, Product Type, and Application. Based on Technology, the market is segmented into Light Emitting Diodes (LEDs), Organic Light Emitting Diodes (OLEDs), and Polymer Light Emitting Diodes (PLEDs). Among these, LEDs dominate the market currently due to their high efficiency and long lifespan. OLEDs are expected to witness fastest growth in the coming years due to flexibility in designs.

By Product Type, the market is divided into LED Lamps, LED Fixtures, OLED Luminaires, and PLED Displays. LED lamps hold the largest share currently owing to widespread adoption in general lighting. LED fixtures follow LED lamps in terms of market share. PLED displays are poised to exhibit highest growth on account of emerging flexible and rollable display applications.

On the basis of Application, the market is classified into General Lighting, Automotive Lighting, Display and Signage, Backlighting, Horticultural Lighting, Architectural Lighting, Healthcare Lighting, Street and Area Lighting, Emergency Lighting, UV Lighting, and Others. General lighting dominates the application segment currently. Automotive lighting and display & signage segments are anticipated to register strong growth rates over the forecast period.

Overall, the global Solid State Lighting System Application market is growing rapidly due to rising demand for energy-efficient lighting solutions across industries. Government policies promoting sustainable lighting are further catalyzing adoption.

Major companies operating in Global Solid State Lighting System Application Market are:

• Osram Licht AG
• Koninklijke Philips N.V
• General Electric Company
• Samsung Electronics Co., Ltd
• Panasonic Corporation
• Seoul Semiconductor Co. Ltd.
• Cree, Inc
• Acuity Brands Lighting, Inc
• Energy Focus, Inc
• Intematix Corporation

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“Global Solid State Lighting System Application market has witnessed significant growth in recent years, fueled by rising digital transformation initiatives among public sector agencies worldwide. Technologies like IoT, cloud, AI and analytics are enabling agencies to leverage data-driven insights more effectively. Solid State Lighting System Application solutions allow agencies to optimize operations, generate predictive analysis, automate workflows and ensure regulatory compliance through centralized data collection and analysis. This helps agencies customize programs, streamline processes to reduce costs, and strengthen controls. Leading public sector organizations are partnering with Solid State Lighting System Application vendors to digitally transform core functions supporting emergency response, healthcare services, transportation management, and other operations. Solutions help improve response coordination, situational awareness through personalized information access, and regulatory compliance management.

Vendors continue investing heavily in developing secure, interoperable mission-critical communications solutions tailored for diverse public sector needs. Regulators are also establishing privacy, security and network resiliency standards. Backed by ongoing innovations in areas like drone-based communications, vehicle-to-vehicle networks, AI analytics and growing acceptance of data-driven strategies, analysts forecast continued strong market expansion. As digital technologies become increasingly integral to public sector functions, Solid State Lighting System Applications are cementing their role as indispensable tools for optimizing operations and strengthening community services. The long-term outlook for the market remains highly positive.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

“Solid State Lighting System Application Market by Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Solid State Lighting System Application Market - Segmented by Technology (Light Emitting Diodes (LEDs), Organic Light Emitting Diodes (OLEDs), Polymer Light Emitting Diodes (PLEDs)), By Product Type (LED Lamps, LED Fixtures, OLED Luminaires, PLED Displays) By Application (General Lighting, Automotive Lighting, Display and Signage, Backlighting, Horticultural Lighting, Architectural Lighting, Healthcare Lighting, Street and Area Lighting, Emergency Lighting, UV Lighting, Others) By Region, By Competition”, has evaluated the future growth potential of Global Solid State Lighting System Application  Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Solid State Lighting System Application Market.

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