Ambient Lighting Market has witnessed a growth of USD 110.26 Billion from 2021 to 2028 with a highest 8.5% CAGR
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Increasing demand for energy efficient lighting and technological advances in lighting solutions are some key factors driving market revenue growth
VANCOUVER, BRITISH COLUMBIA, CANADA, June 28, 2023/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.
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.
Governments in both developed and developing countries are taking steps to limit energy consumption. LED lights are being promoted since they utilise less energy and so produce less pollution. This has given the LED ambient lighting market a boost. The need for ambient lighting devices has increased as the number of residential, commercial, and infrastructure projects has expanded. The global ambient lighting industry is also being driven by urbanisation and modernization.
However, temperature sensitivity of ambient lighting and high initial investment required for replacement of traditional lights are factors expected to restrain market growth to a certain extent during the forecast period.
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The report aims to provide a determining analysis of the market competition to help the user make a pivotal business analysis. The complete portfolios of the key companies, including their production capacity, revenue share and size, gross margin, sales revenue and margin, growth rate, along with their business strategies and technological developments, have been discussed in the report. The companies operating in the market and profiled in the report include
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
Honeywell International Inc
The research study also focuses on a comprehensive analysis of market trends, driving factors and constraints affecting the market growth, and opportunities for business development and expansion.
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The report further discusses in detail the market segmentation based on types and applications.
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
Hospitality & Retail
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The research study on the global Ambient Lighting market provides a complete detail-oriented assessment of this market and provides an accurate evaluation of market tendencies such as revenue estimations and shares, current market value, future market valuation, and market size over the forecast years. The report focuses on the evaluation of the given market in major regions and the countries included in those regions. The report provides details of the market considering the geographical landscape that includes North America, Latin America, Asia Pacific, Europe, and Middle East & Africa.
Some Key Highlights 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.
Asia Pacific dominated other regional markets in terms of revenue share in the global ambient lighting market in 2020. This is attributed to the rapid urbanization and industrial development of the region which has also boosted demand for ambient lighting solutions.
The market in North America is expected to register significantly larger revenue share than other regional markets during the forecast period. Presence of major market players in the region which inlcude Acuity Brands, Inc., Hubbell Incorporated, and General Electric Company is expected to boost revenue growth of the ambient lighting market during the forecast period.
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Table of Content
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.3. Methodology
1.4. Research Sources
1.4.1. Primary
1.4.2. Secondary
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2023–2032
Chapter 3. Key Insights
Chapter 4. Ambient Lighting Market Segmentation & Impact Analysis
4.1. Ambient Lighting Market Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. Growing incidence of breast cancer
4.2.2.2. Increasing awareness on early oncological detection testing
4.2.3. Market restraints analysis
4.2.3.1. Lack of reliable biomarkers
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Chapter 5. Ambient Lighting Market By Application Insights & Trends, Revenue (USD Billion)
Chapter 6. Ambient Lighting Market By Circulating Biomarker Insights & Trends, Revenue (USD Billion)
Chapter 7. Ambient Lighting Market Regional Outlook
7.1. Ambient Lighting Market share By Region, 2023–2032
7.2. North America
7.3. Europe
7.4. Asia-Pacific
7.5. Latin America
7.6. Middle East & Africa
Chapter 8. Competitive Landscape
8.1. Market Revenue Share By Manufacturers
8.2. Mergers & Acquisitions
8.3. Competitor’s Positioning
8.4. Strategy Benchmarking
8.5. Vendor Landscape
Chapter 9. Company Profiles
9.1. Company
9.1.1. Company Overview
9.1.2. Circulating Biomarker & Service Offerings
9.1.3. Strategic Initiatives
9.1.4. Financials
9.1.5. Emergen Research Insights
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