The global ambient lighting market is projected to reach $156.5 billion by 2030, growing with a 9.2% CAGR during 2020–2030. As per P&S Intelligence, the major growth drivers for the industry are:
- Increasing focus on smart lighting solutions
- Growing demand for energy-efficient lighting
COVID-19 is currently giving the ambient lighting market a bleak growth potential, at least in the short term. The restricted supply of components has stalled the manufacturing of lighting products, while even the original equipment manufacturers (OEMs) have downed their shutters, forced by the lockdown implemented in numerous countries.
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Lighting controls and lamps and luminaires are the two bifurcations of the ambient lighting market, on the basis of type. Of these, the larger share in 2019 was held by the lamps and luminaires bifurcation, on account of these products being the major ambient lighting components. In addition, as the focus on electricity conservation is rising, the sale of light-emitting diode (LED) luminaires and lamps is set to increase further.
The objective of this research includes;
- Historical and the present size of the ambient lighting market
- Future potential of the market through its forecast for the period 2020– 2030
- Historical and the present size of the market segments and understand their comparative future potential
- Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
- Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders
- Major players operating in the gene therapy market and their service offerings
- Recent strategic developments by the major players in the market
Asia-Pacific (APAC) contributed the highest revenue to the ambient lighting market in the past. With the growing disposable income, information technology (IT) market, and population, mainly in the Association of Southeast Asian Nations (ASEAN) region and India, the installation of ambient lights in commercial and residential spaces is surging.
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India is expected to witness the fastest growth in the APAC ambient lighting market in the near future. This is attributed to the heavy investments in residential projects and government initiatives to install LEDs in place of incandescent bulbs. For instance, under the Pradhan Mantri Awas Yojana (PMAY) launched in 2015, the Indian government plans to construct a substantial number of affordable houses by 2020, which would drive the demand for ambient lighting solutions.
The research includes detailed analysis of;
Based on Offering
Hardware
- Lamps and luminaires
- Incandescent
- Halogen
- Fluorescent
- Light-emitting diode (LED)
- Lighting controls
- Sensors
- Switches and dimmers
- Relay units
- Software and Service
Based on Type
- Suspended Lights
- Recessed Lights
- Track Lights
- Strip Lights
- Surface-Mounted Lights
Based on End User
- Residential
- Hospitality and Retail
- Healthcare
- Industrial
- Corporate
- Automotive
About P&S Intelligence
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