Market Size in 2021 | Market Forecast in 2030 | CAGR (in %) | Base Year |
---|---|---|---|
USD 42.1 billion | USD 95.7 billion | 7.2% | 2021 |
FrequentlyAsked Questions
There is a high demand for eco-friendly lighting technology; therefore, the emergence of solid-state lighting systems has significantly created hype among people. Therefore, the constantly growing awareness among people regarding the presence of such smart solid-state lighting systems is likely to fuel the growth of the global solid-state lighting system market over the coming years.
The global solid-state lighting system market was valued at USD 42.1 billion in 2021 and is projected to reach USD 95.7 billion by 2028.
Some of the significant players in the global solid-state lighting system market include Toshiba Lighting Products, Royal Philips Electronics, Nichia Group, GE Lighting, Energy Focus Inc., Data Display Products Inc., Bridgelux Inc., Automotive Lighting LLC, and Aixtron AG.
The Asia-Pacific is anticipated to account for the largest share in the global solid-state lighting system market due to the favorable initiatives of the government towards use of energy-efficient power solutions.
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