The global solid state lighting market is progressive despite its nascent state. The increasing demand for energy efficient lighting technologies that conform to high durability and improved productivity stipulations for reducing greenhouse gases is the key factor driving growth of this market. The trend is notable in developing economies that are witnessing rapid industrialization and urbanization and are being responsible to adopt energy efficient technologies to reduce emissions that are detrimental to the planet.

Apart from this, the increasing acceptance of LED lighting solutions in the residential sector for energy efficiency and cost effectiveness is also driving adoption of solid state lighting solutions.

The global solid state lighting market is classified into residential, commercial, industrial, and outdoor lighting depending on sector. The commercial sector segment dominated the solid state lighting market in 2016 and is likely to stay dominant over the forecast period.

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In terms of technology, the solid state lighting market is divided into LED, OLED, and others. LED, among them, is expected to hold a significant share over other segments vis-à-vis growth in the solid state lighting market because of the rising popularity of LED lighting solutions across all sectors of the economy.

By end-user, the segments of the solid state lighting market are conventional lighting, consumer electronics, automotive and transport, healthcare, media and entertainment, and others. The segment of automotive and transport is expected to clock considerable growth in the forthcoming years on account of introduction of new and efficient forms of lighting technology.

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