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Global Solid State Lighting Market (2020 to 2027) - by Type, Installation Type, Application, and Industry Vertical - ResearchAndMarkets.com ResearchAndMarkets.com s offering. The global solid state lighting market was valued at $32. 65 billion in 2019 and is projected to reach $74. 25 billion by 2027, registering a CAGR of 12. 2% from 2020 to 2027. Solid state lighting depends on the conversion of electricity into visible light with the use of solid materials. It offers unprecedented high conversion efficiency of direct electricity-to-light. It is highly effective in terms of energy consumption compared to the traditional incandescent and fluorescent lighting. Moreover, solid state lighting is gaining popularity globally due to increase in demand for energy-efficient lighting systems.

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