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Electric Lighting Equipment Market Companies Integrate IoT For More Control And Convenience

Electric Lighting Equipment Market Report 2021- COVID-19 Impact and Recovery

Electric Lighting Equipment Global Market Report 2021- COVID-19 Impact and Recovery

The Business Research Company’s Electric Lighting Equipment Global Market Report 2021- COVID-19 Impact and Recovery

LONDON, GREATER LONDON, UK, November 24, 2021 /EINPresswire.com/ -- Major lighting companies are integrating lighting fixtures with IoT technology to enable remote user control and for controlling lighting in office, work environment and city infrastructure. IoT technology is widely being used in homes and work places to integrate and control internal and external light fixtures. Beacons, which are small Bluetooth radio transmitters that give signals to other devices, are used to enable wireless lighting control and broadcast the location of fixtures. For instance, in 2018, OSRAM Licht AG, a lighting manufacturer collaborated with Nokia to provide equipping LED ceiling luminaires with 5G radio chips to transmit data inside commercial buildings.

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Asia Pacific was the largest region in the global electric lighting equipment market, accounting for 31% of the market in 2020. Western Europe was the second largest region, accounting for 25% of the global electric lighting equipment market. Africa was the smallest region in the global electric lighting equipment market.

The global electric lighting equipment market size is expected to grow from $125.30 billion in 2020 to $129.47 billion in 2021 at a compound annual growth rate (CAGR) of 3.3%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $175.67 billion in 2025 at a CAGR of 8%.

Read More On The Global Electric Lighting Equipment Market Report:
https://www.thebusinessresearchcompany.com/report/electric-lighting-equipment-global-market-report-2020-30-covid-19-impact-and-recovery

Major players covered in the global electric lighting equipment industry are General Electric Corporation, Panasonic Corporation, Koninklijke Philips NV, Eaton Corporation Plc, OSRAM GmbH.

TBRC’s global electric lighting equipment market report is segmented by type into general lighting, automotive lighting, back lighting, by application into residential, commercial, automotive, others, by sales channel into OEM, aftermarket, by mode into online, offline.

Electric Lighting Equipment Global Market Report 2021 - By Type (General Lighting, Automotive Lighting, Back Lighting), By Application (Residential, Commercial, Automotive), By Sales Channel (OEM, Aftermarket), By Mode (Online, Offline), COVID-19 Impact and Recovery is one of a series of new reports from The Business Research Company that provides electric lighting equipment market overview, forecast electric lighting equipment market size and growth for the whole market, electric lighting equipment market segments, and geographies, electric lighting equipment market trends, electric lighting equipment market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

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