SOLID STATE LIGHTING MARKET ANALYSIS

Market Challenges And Opportunities

• High initial cost of solid state lighting systems
• Lack of awareness among the customers

High initial cost of solid state lighting systems to negatively impact the market growth

Compared to the traditional lighting solutions such as florescent lights, solid state lighting systems require a higher initial investments. The high initial cost of solid state lighting systems has emerged as an barrier to entry for some consumers.

Increasing government initiatives in solid state lighting industry

Furthermore, global solid state lighting market is expected to witness growth due to its operational advantages, increasing governmental measures supporting sustainable development, rising awareness among people regarding impact of lighting on human health. Moreover, the concept of smart lighting and the development of technologies to improve the lighting efficiency is emerging as an opportunity   for solid state lighting solutions provider. Technology investment in the solid state lighting industry is required to drive the market growth.