When looking for current information on the Solid-State Lighting (SSL) market searching Frost & Sullivan, BCC Research, and MarketsandMarkets provides ample content to learn from. Frost & Sullivan reported that LED lighting was closing in on 40% penetration of the global lighting market in late 2014 and that the size of the global LED lighting market for 2016 is forecast to be $47,303 million. When comparing these figures to the global market for general lighting, BCC Research reports that this market is expected to grow to nearly $47.6 billion in 2018 with a compound annual growth rate (CAGR) of 9.8% over the five-year period from 2013 to 2018. With these broader figures in mind, BCC Research goes on to forecast that the global market for organic light emitting diodes (OLEDs) will be $9.6 billion in 2020, registering CAGR of 25.7% for the period 2015-2020. Furthermore, the report indicates that global shipments of high-brightness LEDs are projected to reach nearly $105.5 billion in 2019, a CAGR of 17.9% between 2014 and 2019. Research from MarketsandMarkets explores this space with a look at the markets for various usage areas, including the outdoor LED lighting market – projected to reach $21.95 billion by 2023, at a CAGR of 13.7% between 2017 and 2023. Accessing and utilizing this type of information from trusted analysts and sources provides us with the tools needed to accurately, and quickly size a market and explore market drivers, restraints, key players, and competitors in our research.
While subscription market research sources may provide the most in-depth coverage of a specific market or application area, free, public domain, government sources also provide valuable information that can help companies assess the potential for a technology and better understand the direction of research and development trends. For example, the Department of Energy’s Technology Roadmaps page contains multi-year plans outlining solid-state lighting goals, research and development initiatives focusing on accelerating technology advances and market penetration of solid-state lighting, and recent achievements. Market studies, technology fact sheets, and more are all available through the Department of Energy’s website. Recently, the National Academies of Sciences, Engineering, and Medicine (NAS) published a 116 page report, Assessment of Solid-State Lighting, Phase Two, as a follow-up to its 2013 report Assessment of Advanced Solid-State Lighting. This report, available for free download, covers such topics as, Public Policy and Deployment of New Lighting Technologies, Assessment of LED and OLED Technologies, SSL Applications, and Manufacturing.
Still looking for more? Trade associations, conferences, and events are an excellent way to gain first-hand experience with potential customers, partners, and influencers in the industry. A few upcoming events include the Optical Society November 2017 symposium which plans to cover all aspects of solid state lighting, ranging from new materials development and device physics to the design of efficient lighting optics. The Illuminating Engineering Society provides an events page, and Lightfair announced its 2018 dates.
Posted on October 18, 2017 by Eliza Gough