Global SSL and Fluorescent Lighting Market 2016-2020
About the Solid-State Lighting (SSL) and Fluorescent Lighting Market
The global SSL and fluorescent lighting market includes lighting applications for residential, commercial, outdoor, industrial, and architectural purposes. The commercial and residential segments are the major drivers of the market. Fluorescent lights are categorized into LFLs and compact fluorescent lamps (CFLs), and SSLs are categorized into LEDs and organic LEDs (OLEDs).
Technavio’s analysts forecast the global SSL and fluorescent lighting market to grow at a CAGR of 15.02% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global SSL and fluorescent lighting market for 2016-2020. The market size is calculated on the basis of revenue generated from the sale of new and replacement SSL and fluorescent lights. The report does not include analysis of any other type of lighting system, such as high-intensity discharge lamps or incandescent bulbs. It also does not consider any other components of lighting such as control gears, ballasts, fixtures, and luminaires.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Solid-State Lighting (SSL) and Fluorescent Lighting Market 2016-2020
Technavio recognizes the following companies as the key players in the global solid-state lighting (SSL) and fluorescent lighting market: GE Electric, OSRAM, Panasonic, and Schneider Electric.
Other Prominent Vendors in the market are: Acuity Brands, Advanced Lighting Technology, Bridgelux, Cree, Dialight, Eaton, Emerson Electric, Everlight Electronics, MLS Electronics, Toshiba Lighting and Technologies, and Toyoda Gosei.
Commenting on the report, an analyst from Technavio’s team said: “A trend propelling market growth is the emergence of smart cities. A smart city is integrated with several information and communication technology solutions to improve the quality of life and drive economic growth. Therefore, governments across the globe are investing in technologies such as climate action plans, open data platforms, water management, smart grids, smart street lighting, urban mobility, and smart parking. Some of the noteworthy examples of smart city projects across the world are Indian Prime Minister Narendra Modi’s Smart Cities Mission, the Dubai Plan 2021, and US President Barack Obama’s Smart Cities Initiative.”
According to the report, a key growth driver is strong government support in the form of subsidies. Strong government support is one of the major factors driving the growth of the global SSL and fluorescent lighting market. Governments in BRIC countries are encouraging the use of LED lights by launching new programs and providing subsidies to the manufacturers.
Further, the report states that one challenge that could curtail market growth is the absence of global LED standardization. The specifications and standards for LED lighting vary in different countries. The absence of a single international standard for LED lighting is a hurdle for the vendors.
GE Electric, OSRAM, Panasonic, Schneider Electric, Acuity Brands, Advanced Lighting Technology, Bridgelux, Cree, Dialight, Eaton, Emerson Electric, Everlight Electronics, MLS Electronics, Toshiba Lighting and Technologies, Toyoda Gosei.