(PRWEB) April 11, 2014
According to the market research report, “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)”, the total market is expected to reach $56.79 Billion by 2018, at a CAGR of 18.7%, from 2013 to 2018.
Browse 113 market data tables and 51 figures spread through 365 pages and in-depth TOC on “Solid State Lighting Market” - http://www.marketsandmarkets.com/Market-Reports/solid-state-lighting-market-1234.html.
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The global Solid State Lighting Market has been segmented on the basis of the types of SSL, applications, and verticals. The types include 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 are integrated with light based medical applications. Surgical lighting has incorporated low heat dissipating LEDs enabling comfortable working environment for surgeons and patients.
OLED’s has high market share in backlighting applications. Demand for OLED display has been accelerating as it has diverse applications and better display features. 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.
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Many Asian companies have geared up to emerge as dominant players in the OLED equipment and materials market. The OLED based solid state lighting is set to be one of the major technologies in future, with its CAGR projected to exceed up to 25% in major applications such as general lighting, back-lighting, automotive lighting and medical lighting.
The global Solid State Lighting Market is expected to reach $56.79billion by 2018, at an estimated CAGR of 18.7%, from 2013 to 2018. The backlighting and general lighting applications heavily contributed to the global applications market with a share of 87% in 2012 and is expected to record high growth in the coming years. APAC is the leading region in the overall Solid State Lighting Market with 50% of market share, which is followed by North America and Europe with 23.9% and 19.9% each (in 2012). In rest of the world segment, Russia, Brazil and Middle East are the largest contributors with total share of 6.3% occupied in the global industry.
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