Ambient Lighting Market Segments Analysis and Opportunities 2027
Market Overview
The
growing preference for innovative and comfortable lighting solutions can prompt
the expansion of the world Ambient
Lighting Market 2020, states Market Research Future (MRFR)
study. The rise in energy efficient solutions requirements to create numerous
market opportunity that can allow the ambient lighting market to surge. Under
the light of COVID-19 situation, the ambient lighting market is likely to be
largely impacted. As per MRFR findings, the world ambient lighting market can
rise at 11% CAGR through the evaluation period. MRFR study also shows that the
global market of ambient lighting market can value at USD 94 Bn by on the
conclusion of the forecast period.
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Technological
evolutions, such as smart lighting systems are being applied largely in
residential and commercial buildings, which can bolster the growth of the world
ambient lighting market in the near future. The increased utility of
infrastructural projects across the globe, along with rise in the preferences
of consumers for a better interior lighting designing can favor the expansion
of the world ambient lighting market in the near future.
In
addition, the rise in concerns about climate changes can led to the surge in
the implementation of different norms and regulations that pertain to energy
efficient solutions can promote the world ambient lighting market growth. The
increased inefficiency of incandescent bulbs due to excessive heat generation
lead in the rising adoption of ambient lighting solutions. Thus, can impel the
ambient lighting global market growth.
On the downside, the
rapid replacement of traditional lighting solutions with ambient light have
high replacement price. This is one of the factors that can hinder the rise of
the ambient lighting market through the study period.
Market
Segmentation
The segment study of
the world ambient lighting market is based on applications, components, and
type. The type based, ambient lighting market segments are surface mounted
lighting, track lighting, suspended lighting, down lighting, and others. The
components based, ambient lighting market is segments are software, hardware,
and services among others. The applications based segments of the ambient lighting
market are commercial, and residential among others. Offices, hospitals, and
automotive are among the commercial segments.
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Regional
Study
MRFR’s regional analysis of the ambient
lighting market shows that the ambient lighting market in the Asia Pacific
region is expected to surge at a high pace in the years to come. The rise in
infrastructure activities in economies, such as India and the rest of APAC is
likely to cause the expansion of the regional ambient lighting market. In
addition, the growing focus of governments in the implementation of regulations
and legislation that pertain to the application of energy efficiency can also
bolster the ambient lighting market in APAC. Ambient lights are widely applied
as automotive lighting systems. The expansion of the automobile sector across
India, South Korea, China, and Japan as they house numerous reputed vehicle
producers can impel the expansion of APAC ambient lighting market. The
automotive sector is observed to create numerous growth opportunity for the
market. In Europe and North America, the rise of automobile utility can impel
the expansion of the market.
Key Players
MRFR listed some noteworthy players
operating in the worldwide ambient lighting market. They are; General Electric
Company (U.S.), Pasolite (India), Enterprise Lighting LTD (U.S.), Thorn
Lighting (U.K) Philips Lighting Holding B.V. (Netherlands), Häfele GmbH &
Co KG (Germany), Cree, Inc. (U.S.), Acuity Brands Lighting Inc. (U.S.), LIGMAN
Lighting Co., Ltd. (Thailand), Unity Technologies SF (U.S.), and OSRAM Licht
GmBH (Germany) among others.
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