The global high-end lighting market size is expected to reach
USD 24.32 billion by 2025, growing at a CAGR of 6.1%, according to a new report
by Grand View Research, Inc. Increasing demand for connected lighting system
has been a major factor driving market growth. Some major technological
innovations in this particular market such as connected, dimmable, color
changing, and sensor-enabled lightings have contributed largely to the market
growth.
The introduction of LEDs in recent years has
changed market dynamics for high-end lighting which was previously dominated by
conventional lights such as fluorescent lights, halogen and incandescent bulbs.
Governments across all major countries have taken initiatives for the adoption
of LEDs in order to save energy and reduce environmental pollution which is
further anticipated to boost the market growth for high-end lighting.
High-end fluorescent lamps accounted for
maximum revenue generation in 2016. The demand for high-end LED lighting is
increasing and it is projected to gain huge market share by 2025. The factors
such as enhanced LED features, government initiatives for ban on incandescent
bulbs and increasing demand for energy efficient lighting is anticipated to
drive the market growth for high-end LEDs.
High-end lighting with wired application
segment accounted for larger market share in 2016 and is expected to dominate
the market over the forecast period. However, the market for wireless high-end
lightings is projected to grow at a high rate owing to the technological
advancement such as remote controlled operations via smartphone, dimming &
color changing feature, Wi-Fi and Bluetooth connectivity. Wireless lighting is
easier to install without damaging the interior and are also more efficient
than wired ones, thus the demand for the wireless high-end lighting is expected
to eventually grow over the forecast period.
By interior design, transitional lighting
accounted for largest market share in 2016, the requirement for transitional
interior consist of a mixture of modern and traditional lights. The interior
design market is slowly moving from transitional to modern interior, thus
market for modern high-end lighting market is anticipated to grow at a highest
rate over the forecast period. However, traditional high-end lighting is
projected to witness a steep fall in overall market owing rising number of
smart homes and smart city projects.
In 2016, commercial high-end lighting
accounted for over 32% market share, whereas residential high-end lighting
still holds largest market share. The industrial high-end lighting is
anticipated to grow exponentially over the forecast period owing to increasing
industrial lighting standards and regulations.
Browse full research report on High-end
Lighting Market: https://www.grandviewresearch.com/industry-analysis/high-end-lighting-market
Further key
findings from the report suggest:
- Global LED high-end lighting demand was USD
5.12 billion in 2016 and is anticipated to witness staggered growth over
the next nine years
- The wired high-end lighting segment is
anticipated to grow at CAGR of 4.9% over the forecast period.
- The modern high-end lighting segment is
projected to grow at CAGR of 6.8% from 2017 to 2025.
- The Asia Pacific market is projected to
witness substantial growth over the next decade owing to various
developments across major economies, especially in the LED and OLED
lighting market. The regional market is expected to grow at a CAGR of 8.5%
from 2017 to 2025.
- Key players including Philips Lighting Holding
B.V., OSRAM Licht AG, General Electric Company, CREE, Inc. and Digital
Lumens, Inc. dominated the global high-end lighting market while
accounting for over 58% of the total revenue in 2016
Browse request sample of this report by
Grand View Research: https://www.grandviewresearch.com/industry-analysis/high-end-lighting-market/request/rs1
Grand
View Research has segmented the global high-end lighting market on the basis of
light source, application, interior design, end user and region:
High-end
Lighting Light Source Type Outlook (Revenue, USD Million, 2015 - 2025)
- LED Lamps
- HID Lamps
- Fluorescent lights
- Others
High-end Lighting
Application Type Outlook (Revenue, USD Million, 2015 - 2025)
- Wired
- Wireless
High-end
Lighting Interior Design Outlook (Revenue, USD Million, 2015 - 2025)
- Modern
- Traditional
- Transitional
High-end
Lighting End-User Outlook (Revenue, USD Million, 2015 - 2025)
- Commercial
- Industrial
- Residential
- Others
High-end
Lighting Regional Outlook (Revenue, USD Million, 2015 - 2025)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- Mexico
- Middle East &
Africa
- South Africa
About Grand View Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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