Global solid state lighting systems market likely to reach $53,469.5 million in 2015

USA: ELECTRONICS.CA PUBLICATIONS, the electronics industry market research and knowledge network, announced the availability of a report entitled "Solid State and Other Energy Efficient Lighting Systems Application Market Trends".

The increasing demand for energy-saving and environment-friendly lighting technology is driving the growth of the global solid state and other energy efficient lighting Systems market. The global solid state and other energy efficient lighting systems market is expected to grow from $28,248.7 million in 2010 to $53,469.5 million in 2015, at an estimated CAGR of 9.7 percent from 2010 to 2015.

Amongst all the market segments, compact fluorescent lamps command the largest share in terms of revenues, while Light emitting diode is the second largest market due to the globally increasing demand for energy efficient lightings, which, in turn has arisen due to the shift of the governments’ focus worldwide towards environmental concern to protect the planet from global warming.

While light emitting diode (LED) had contributed 31.2 percent to the global solid state and other energy efficient lighting systems market revenues in 2010, organic light emitting diode market is expected to have the highest CAGR of 44 percent from 2010 to 2015.