According to IMARC Group’s latest report, titled “Architectural Lighting Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, the global architectural lighting market size reached US$ 6.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 8.9 Billion by 2028, exhibiting a growth rate (CAGR) of 5.6% during 2023-2028.
What is Architectural lighting?
Architectural lighting represents a combination of technology and art that enhances the ambiance and experience of any space or building. It majorly focuses on three aspects of any building or area, such as functionality, aesthetics, and energy efficiency. The aesthetic element concentrates on enhancing the emotional impact of a space by providing a balance between architecture and lighting. This aspect is mainly associated with retail locations and interiors to attract large masses. Functionality element includes illumination of the area precisely to perform specific tasks, including reading, writing, and navigation. Furthermore, the energy efficiency aspect contains the maximum impact of lighting with minimum energy consumption. As a result of these aspects, architectural lighting solutions find widespread applications across various sectors, such as retail, education, hospitality, residential, commercial, industrial, etc.
What Are the Key Industry Trends in the Global Architectural Lighting Market?
The extensive usage of LED lighting solutions, several technological advancements, the increasing need for aesthetic lights, and the escalating demand for energy-efficient illuminating devices are among the primary factors driving the architectural lighting market. Besides this, the elevating requirement for LED lights, as they are more flexible, efficient in terms of power consumption and colors, and featured with low carbon footprints compared to other conventional lighting solutions, is further augmenting the market growth. Moreover, the leading players are launching smart architectural lighting solutions integrated with sensors for providing safe and efficient on-demand illumination, which is also catalyzing the global market. Apart from this, the introduction of control systems that offer luminaires with high performance, intelligent control with lower energy consumption, and the option for setting the light intensity, is acting as another significant growth-inducing factor. Furthermore, the inflating investments in the construction of smart city infrastructures, such as bridges, roadways, and commercial buildings, are expected to bolster the architectural lighting market in the coming years.
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Note: In this report you will get detailed analysis of the market, growth analysis graphs, historical period analysis, forecast period analysis, major market segmentation, top leading key players of the market, table of content, list of figures, and list of tables.
Competitive Landscape with Key Players:
The competitive landscape of the industry has also been examined with some of the key players.
- Signify Holding
- OSRAM GmbH
- Cree Lighting
- General Electric Company
- Acuity Brands Lighting Inc.
- Seoul Semiconductor Co.
- Ltd, Samsung
- Griven S.r.l.
Key Highlights of the Market Segmentation:
The report has categorized the market based on light source, lighting type, application, end use and region.
Breakup by Light Source:
- Fluorescent Lights
- High Intensity Discharge (HID) Lights
- Light Emitting Diode (LED) Lights
- Others
Breakup by Lighting Type:
- Ambient
- Task
- Accent
Breakup by Application:
- Wall Wash
- Cove Lighting
- Backlighting
- Others
Breakup by End Use:
- Commercial
- Residential
- Industrial
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)
Key Highlights of The Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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