The global lighting market is anticipated to witness high growth in the coming years, especially from the emerging solid state lighting technology. Long life, efficient design and low energy consumption of light emitting diodes has resulted into better productivity and increased brightness, which are some of the factors contributing to the growth of solid state lighting technology.

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The features of LED such as pleasant light which makes them suitable for ambient lighting and their long life (8 to 10 years with 13 to 17 years of productive daily use), makes the solid state lighting market highly productive.

The global solid state lighting market can be segmented on the basis of technology, installation, application, and end-users. On the basis of technology, the solid state lighting can be divided into light emitting diode (LED) and organic light emitting diode (OLED). On the basis of installation, the solid state lighting can be segmented into new installation and retrofit.

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Based on application, the market can be categorized into automotive lighting, medical lighting, general lighting, backlighting, and others. On the basis of end-users, the market is segmented into residential, industrial, educational, medical, transportation, consumer electronics, and commercial industries. The general lighting segment dominates the global solid state lighting market, however the automotive lighting application is expected to experience significant growth in the near future.

Technological developments in the last decade have increased the application of light emitting diodes in exit signs and traffic lights, and in certain partial illumination applications, such as flashlights. The lighting research center is working on the technical developments to provide a bright future of the solid state lighting technology and further extending the technology to be used in homes and commercial areas.

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The major competitors in the global solid state lighting market are OSRAM Licht AG, Koninklijke Philips N.V., NICHIA CORPORATION, GENERAL ELECTRIC, Bridgelux, Inc., CITIZEN ELECTRONICS CO. LTD, Acuity Brands Lighting, Inc, LED ENGIN, INC. Energy Focus, and Seoul Semiconductor Co. Ltd.