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Increasing demand for energy efficient lighting and technological advances in lighting solutions are some key factors driving market revenue growth
Market Size – USD 57.42 Billion in 2020, Market Growth – at a CAGR of 8.5%, Market Trends – Increasing convergence of emission reduction efforts with technology” — Emergen Research
VANCOUVER, BC, CANADA, May 16, 2022 /EINPresswire.com / -- The global ambient lighting market size reached USD 57.42 Billion in 2020, and is expected to register a CAGR of 8.5% during the forecast period. Market revenue growth is primarily driven by rising demand for more energy-efficient lighting solutions and connected and automated lighting systems.
The growing demand for ambient light sensors and linked bedroom ambient lighting systems provide a potential for the Ambient Lighting Market to expand. Interior lighting of exceptional quality is becoming more popular among consumers. This also helps the market for ambient lighting. LED lighting emits fewer UV rays, making it more environmentally friendly.
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Governments all around the world are enacting strict rules in order to reduce carbon emissions. Concerns about global warming and ozone depletion have prompted countries to step up their efforts to reduce their carbon footprint. Increased energy use results in increased energy dissipation and carbon emissions, necessitating the need for more sustainable and efficient energy use.
The report also discusses the key players involved in the market such as Signify N.V., Acuity Brands, Inc. Hubbell Incorporated, General Electric Company, Osram Licht AG, Ideal Industries (Cree Lighting), Häfele GmbH & Co KG, Lutron Electronics Company, Zumtobel Group, and Honeywell International Inc.
Key insights presented in the report:
Market revenue shares by major business players, by type, by application, and market scope of global Ambient Lighting market
Sales revenue by key players and new entrants
Competitive analysis of the key players including aspects such as company overview, product or services specification, vendors, and buyers.
Recent mergers, acquisitions, product launches, recent investments, and joint ventures
Regional analysis to provide insight to recent trends and opportunities
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The global Ambient Lighting market report covers the analysis of drivers, trends, limitations, restraints, and challenges arising in the Ambient Lighting market. The report also discusses the impact of various other market factors affecting the growth of the market across various segments and regions. The report segments the market on the basis of types, applications, and regions to impart a better understanding of the Ambient Lighting market.
Emergen Research has segmented the global ambient lighting market on the basis of type, offering, end-use, and region:
Type Outlook (Revenue, USD Billion; 2018–2028)
Suspended Lights
Recessed Lights
Strip Lights
Surface-Mounted Lights
Track Lights
Offering Outlook (Revenue, USD Billion; 2018–2028)
Software & Services
Hardware
End-use Outlook (Revenue, USD Billion; 2018–2028)
Residential
Healthcare
Industrial
Office Buildings
Automotive
Key Findings from the Report:
Among other type segments, recessed lights segment accounted for largest revenue share in 2020. Flexibility of installation and availability of wide variety of recessed ambient lights will drive the growth of this market segment.
Among other offerings segments, hardware segment revenue is expected register a rapid CAGR during the forecast period. This is mainly owing to increasing demand for technologically advanced ambient lights that enable energy saving and lower energy bills.
Among other end use segments, the residential segment accounted for a larger revenue share in the ambient lighting market in 2020. Increased demand from energy efficient lighting to reduce energy consumption has contributed to the growth of this market segment.
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Regional Bifurcation of the Ambient Lighting Market Includes:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Radical Features of the Ambient Lighting Market Report:
The report encompasses Ambient Lighting market overview along with market share, demand and supply ratio, production and consumption patterns, supply chain analysis, and other ley elements
An in-depth analysis of the different approaches and procedures undertaken by the key players to conduct business efficiently
Offers insights into production and manufacturing value, products and services offered in the market, and fruitful information about investment strategies
Supply chain analysis along with technological advancements offered in the report
The report covers extensive analysis of the trends, drivers, restraints, limitations, threats, and growth opportunities in the Ambient Lighting industry
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Emergen Research
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Ambient Lighting Market
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