Solid State Lighting Market: Business Development Strategies by Top Industry Players during 2020–2027 | COVID-19 Impact on Industry Size, and Application Trends

PORTLAND, OREGON, UNITED STATES, October 23, 2020 /EINPresswire.com/ -- According to the latest report by Allied Market Research, the global solid state lighting industry was estimated at $32.65 billion in 2019, and is anticipated to hit $74.25 billion by 2027, registering a CAGR of 12.2% from 2020 to 2027.

The report has offered an all-inclusive analysis of the global Solid state lighting market taking into consideration all the crucial aspects like growth factors, constraints, market developments, top investment pockets, future prospects, and trends. At the start, the report lays emphasis on the key trends and opportunities that may emerge in the near future and positively impact the overall industry growth.

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Covid-19 Scenario:

• During the pandemic, there's been a sharp decline in demand for solid state lighting from various sectors. Also, the supply chain and production disruptions have impacted the market negatively.
• However, government bodies are now coming up with relaxations on the existing regulations, and the market is expected to get back to its position soon.
• Impact on market size
• Application trends, preferences, and budget impact
• Key player strategies to tackle negative impact

Key drivers that are propelling the growth of the market included in the report. Additionally, challenges and restraining factors that are likely to curb the growth of the market are put forth by the analysts to prepare the manufacturers for future challenges in advance.

The report presents in-depth insights into each of the leading Solid state lighting end user verticals along with annual forecasts to 2027. The report provides revenue forecast with sales, and sales growth rate of the global Solid state lighting market. The forecasts are also provided with respect to the product, application, and regional segments of the market. The forecasts are issued to understand the future outlook and prospects of the industry.

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The market is evaluated based on its regional penetration, explaining the performance of the market in each regional market covering provinces such as North America (United States, Canada and Mexico), Europe (Germany, France, UK, Russia and Italy), Asia-Pacific (China, Japan, Korea, India and Southeast Asia), South America (Brazil, Argentina, Colombia), Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa).

Top 10 leading companies in the global Solid state lighting market are analyzed in the report along with their business overview, operations, financial analysis, SWOT profile and Solid state lighting products and services.

The key players operating in the global Solid state lighting industry include Cree, Inc., Energy Focus Inc., General Electric Company, Nichia Corporation, Osram Licht AG, Royal Philips Electronics N.V., Samsung Electronics Co., Ltd., Seoul Semiconductor Co. Ltd., Sharp Corporation, and Toshiba Corporation.

Latest news and industry developments in terms of market expansions, acquisitions, growth strategies, joint ventures and collaborations, product launches, market expansions etc. are included in the report.

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Key market segments

By Type

• Light Emitting Diodes (LED)
• Organic Light Emitting Diodes (OLED)
• Polymer Light Emitting Diodes (PLED)

By Installation Type

• New Installation
• Retrofit

By Application

• Indoor Lighting
• Outdoor Lighting
• Specialty Lighting

By Industry Vertical

• Residential
• Industrial and Commercial
• Medical
• Transportation
• Others

By Region

• North America
o U.S.
o Canada
o Mexico

• Europe

o UK
o Germany
o France
o Italy
o Rest of Europe

• Asia-Pacific

o China
o India
o Japan
o Rest of Asia-Pacific

• LAMEA

o Latin America
o Middle East
o Africa

Access Report Summary: https://www.alliedmarketresearch.com/solid-state-lighting-system-market

Report Discussed into 9 Chapters:

Chapter 1: Introduction
Chapter 2: Executive summary
Chapter 3: MARKET OVERVIEW
Chapter 4: solid state lighting Market, By type
Chapter 5: solid state lighting Market, BY INSTALLATON TYPE
Chapter 6: solid state lighting Market, BY APPLICATION
Chapter 7: solid state lighting Market, BY INDUSTRY VERTICAL
Chapter 8: solid state lighting Market, BY Region
Chapter 9: COMPETITIVE LANDSCAPE

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