About SSL Devices
SSL devices are using inorganic light-emitting diodes (LEDs) and organic light-emitting diodes (OLEDs) to convert electricity into the light for illumination. SSL device has the potential for enormous energy savings and accompanying environmental benefits if its promise of 50% energy efficiencies can be accomplished. The applications for SSL and impact on the human visual experience and potential impact on U.S. and world-wide energy consumption are discussed. Solid-state lighting technology demand has projected the growth of the SSL device market in the forecast period.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.The Manufacturers having a strong hold in the market are Koninklijke Philips N.V, OSRAM GmbH, and Acuity Brands Lighting, Inc.. Analyst at AMA Research estimates that European Manufacturers will contribute the maximum growth to Global SSL Devices market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Koninklijke Philips N.V ( Netherlands), OSRAM GmbH (Germany), Acuity Brands Lighting, Inc. (Georgia), Panasonic Security Solutions (Japan), Schneider Electric (France), Brother Industries (Japan) and Toshiba America Business Solutions, Inc. (Japan) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global SSL Devices market by Type (White Type, Fluorescent Light Type and Other), Application (Residential Sector, Commercial Sector and Industrial Sector) and Region.
On the basis of geography, the market of SSL Devices has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. Online will boost the SSL Devices market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Rapid Industrialization in Developing and Developed Countries
Market Growth Drivers:
Increasing use of Artificial Lighting Globally and Growing Demand for Electric Based Lighting
Challenges:
Security Regulations, Decryption Performance and Complex Decryption Architecture
Restraints:
High Cost Associated with SSL Devices
Opportunities:
Increase at a Fast Pace with Continuous Improvements in Light Quality, Efficacy, and Operating Life
Market Leaders and their expansionary development strategies
In May 2021, Acuity Brands, Inc. a market-leading industrial technology company, acquired of Rockpile Ventures, a Seattle-based venture capital & private equity firm.
In 2021, Acuity Brands, Inc.announced the launch of Verjure™, a professional-grade horticulture LED lighting fixtures answer that gives efficacious and regular overall performance for indoor horticulture applications. Developed the usage of academic, plant-based research, the Verjure™ Pro Series LED luminaires are designed to guide all ranges of plant increase from veg to flower. The Series is handy in three one of a kind sizes and outputs to help versatility in growing, along with indoor warehouse, greenhouse, and vertical racks.
The US Federal government has re-introduced an act to improve IoT cybersecurity has focused everyone’s attention on the issue. Although IoT is a prime victim of cyberattacks, many IoT device manufacturers emphasize connectivity and functionality over security in their products. Things are, however, beginning to shift. The re-emergence of Mirai, a malware that attacks smart devices, uses ARC processors to run and turns them into a network of bots that can be controlled remotely. This has highlighted the importance of protecting the IoT devices and current concerns about how easily the Triton malware entered IoT devices. As a result, there have been many efforts to safeguard IoT networks. Some argue that combining AI with Blockchain technology could fix the problem. However, blockchain suffers from scaling challenges, making it an ineffective option for securing large IoT networks.
Key Target Audience
SSL Devices Manufacturers, Potential Technology Investors, Regulatory & Government Bodies, Downstream Vendors, End Users and Other
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.