Ambient Lighting Market Size to Reach USD 110.26 Billion in 2028 | Increasing Demand for Energy-Efficient Lighting Systems, Growing Focus on Lowering Carbon Footprint Are Key Factors Driving Industry Demand
VANCOUVER, BC, Aug. 25, 2021 /PRNewswire/ -- The global ambient lighting market size is expected to reach USD 110.26 billion in 2028 at a CAGR of 8.5% during the forecast period, according to the latest analysis by Emergen Research. Rising demand for energy-efficient lighting systems in residential and commercial buildings, growing focus on reducing energy and electricity consumption, and increasing demand for high-quality interior lighting among consumers are key factors expected to drive market revenue growth over the forecast period. In addition, increasing adoption of connected light systems and ambient light sensors is also expected to further fuel revenue growth of the market.
VANCOUVER, BC, Aug. 25, 2021 /PRNewswire/ -- The global ambient lighting market size is expected to reach USD 110.26 billion in 2028 at a CAGR of 8.5% during the forecast period, according to the latest analysis by Emergen Research. Rising demand for energy-efficient lighting systems in residential and commercial buildings, growing focus on reducing energy and electricity consumption, and increasing demand for high-quality interior lighting among consumers are key factors expected to drive market revenue growth over the forecast period. In addition, increasing adoption of connected light systems and ambient light sensors is also expected to further fuel revenue growth of the market.
Ambient light, also known as general lighting, is the natural light that comes from the windows. Ambient lighting offers a complete illumination for a particular room and creates a uniform light level throughout that space. Ambient lighting enhances the warmth and overview of a room and provides a convenient level of illumination without giving excessive glare. Ambient lighting can be created in a room by installing cove lighting or cantilever detail with LED lights.
Chandelier and other ceiling fixtures are most often used locations for ambient lighting. Ambient lighting allows individuals to easily navigate through the room and creates a comprehensive overview of the room. Increasing focus on improving room aesthetics, ensure proper visibility, and reduce consumption of energy have significantly contributed to the rising demand for ambient lighting systems. In addition, increasing preference for environmentally sustainable and low-carbon footprint energy systems has also contributed to revenue growth of the market.
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Governments across the globe have launched several initiatives to encourage adoption of energy-efficient lighting systems and reduce the overall consumption of electricity and energy. Increasing R&D activities to develop efficient lighting systems, rapid technological advancements in ambient lighting systems, rising deployment of smart and connected lighting systems are some other key factors driving market growth. However, high costs of installing ambient lighting systems and temperature sensitivity of ambient lighting are expected to lower their adoption and further restrain market growth to a certain extent over the forecast period.
Some Key Highlights in the Report:
- Recessed lights segment is expected to account for largest revenue share over the forecast period owing to increasing flexibility and convenience of installation, availability of a wide range of recessed ambient lights at affordable costs, ability of recessed lights to increase the coverage of a room or space, and increasing demand from residential and commercial buildings.
- Hardware segment is expected to register a robust revenue CAGR over the forecast period attributed to increasing need for energy-efficient lighting systems, rising adoption of connected and automated lighting systems, and growing deployment of ambient light sensors to minimize electricity consumption.
- Residential segment is expected to register significant revenue growth over the forecast period owing to rising demand for ambient indoor lighting to boost illumination of a room or space, increasing focus on reducing energy consumption and carbon footprint, rising preference for eco-friendly lighting systems such as LED lighting, and rapid adoption of connected systems among households.
- Asia Pacific is expected to account for largest revenue share in the global market over the forecast period owing to increasing construction of residential and commercial buildings equipped with energy-efficient lighting systems, rapid development of modern infrastructure, progress of smart city projects, and rising consumer preference towards energy-saving ambient indoor lighting systems.
- Key companies in the market 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, and Honeywell International Inc.
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For the purpose of this report, 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
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Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- U.K
- Germany
- France
- Italy
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Rest of MEA
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