In 2023, it is anticipated that the global solid state and other energy-efficient lighting market would be valued US$ 159.2 billion. According to the Persistence Market Research analysis, the market will grow at a CAGR of 7% between 2023 and 2033, reaching a value of over US$ 312.6 billion.
According to estimates, the global market for solid state and other energy-efficient lighting will be valued US$ 152.6 billion in 2022, growing by US$ 153.4 billion in absolute terms.
The Solid State and Other Energy Efficient Lighting market is poised to flourish as industries and consumers embrace the need for sustainable lighting solutions with enhanced energy efficiency. In recent years, there has been a notable shift towards energy-efficient lighting technologies, driven by environmental concerns and the desire to reduce energy consumption and carbon emissions.
Solid-state lighting, which includes light-emitting diodes (LEDs) and organic light-emitting diodes (OLEDs), has emerged as a frontrunner in the energy-efficient lighting market. These technologies offer numerous benefits, including longer lifespan, lower energy consumption, and reduced maintenance costs compared to traditional incandescent and fluorescent lighting systems.
Request the sample copy of report @ https://www.persistencemarketresearch.com/samples/33507
The adoption of energy-efficient lighting solutions is not limited to the commercial and industrial sectors. Consumers worldwide are also embracing the benefits of LED lighting for residential applications. As energy-efficient LED bulbs become more affordable and widely available, households are making the switch to reduce their electricity bills and contribute to a more sustainable future.
Moreover, energy-efficient lighting plays a pivotal role in achieving energy conservation goals set by governments and regulatory bodies. The implementation of energy-efficient lighting technologies on a large scale has the potential to significantly reduce overall energy demand and contribute to global efforts in mitigating climate change.
In addition to energy efficiency, solid-state lighting offers other advantages, such as instant illumination, controllability, and design flexibility. The ability to adjust the intensity and color of LED lights opens up possibilities for smart lighting systems that can enhance productivity, well-being, and comfort in various environments.
Furthermore, energy-efficient lighting solutions align with the ongoing trend of building green and sustainable infrastructure. As businesses and organizations seek LEED (Leadership in Energy and Environmental Design) and other green building certifications, the demand for energy-efficient lighting technologies is expected to grow significantly.
For In-Depth Competitive Analysis, Buy Now @ https://www.persistencemarketresearch.com/checkout/33507
In conclusion, the Solid State and Other Energy Efficient Lighting market is set to flourish as societies recognize the importance of sustainable lighting solutions with enhanced energy efficiency. Solid-state lighting technologies, particularly LEDs, are leading the way in providing environmentally friendly and economically viable lighting solutions for residential, commercial, and industrial applications. As the world strives towards a greener future, the widespread adoption of energy-efficient lighting will continue to illuminate the path towards a sustainable and energy-conscious tomorrow.
Companies Covered in This Report –
- Wolfspeed Inc.
- Energy Focus Inc.
- Ge Lighting
- Koninklijke Philips N.V.
- Mitsubishi Electric Corporation
- Osram Licht Ag
- Samsung Electronics Co. Ltd.
- Seoul Semiconductor Co. Ltd.
- Sharp Corporation
- Toshiba Corporation
Request For Report Customization @ https://www.persistencemarketresearch.com/request-customization/33507
Key Segments Profiled in the Global Solid State And Other Energy Efficient Lighting Market:
By Country
- North America
- Latin America
- Europe
- Asia Pacific
- The Middle East and Africa
By Application
- Oil and Gas
- Chemical, Mining
By Installation
- New Installation
- Retrofit Installation
By Technology
- Hid Lighting
- Plasma
- Induction Lighting
- Solid-State Lighting
- Fluorescent Lighting
Some other Trending Reports –
| System Basic Chip Market | https://www.persistencemarketresearch.com/market-research/system-basic-chip-market.asp |
| Home Theater Audio Systems Market | https://www.persistencemarketresearch.com/market-research/home-theater-audio-systems-market.asp |
| Point-to-Multipoint Microwave Backhaul Market | https://www.persistencemarketresearch.com/market-research/point-to-multipoint-microwave-backhaul-market.asp |
| Secure Digital Memory Cards Market | https://www.persistencemarketresearch.com/market-research/secure-digital-memory-cards-market.asp |
About us:
Persistence Market Research is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. Persistence Market Research boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients’ business needs.
Contact us:
Persistence Market Research
Address – 305 Broadway, 7th Floor, New York City,
NY 10007 United States
U.S. Ph. – +1-646-568-7751
USA-Canada Toll-free – +1 800-961-0353
Sales – sales@persistencemarketresearch.com