Global high end lighting market set to grow
Growing demand for connected lighting and interior coming up with trends square measure the factors that may drive the expansion of the market, globally. Growing adoption of smartphones and web property has driven the demand for connected lighting systems. LED section would eventually hold vital share thanks to technological and economical advancements like high potency and higher brightness levels. The world High-End Lighting Market size is anticipated to achieve $21.0 billion by 2023, rising at a market growth of 5.9% CAGR throughout the forecast period.
Global High-End Lighting Market size is expected to reach $21.0 billion by 2023, rising at a market growth of 5.9% CAGR during the forecast period. Growing demand for connected lighting and interior designing trends are the factors that would drive the growth of the market, globally. Growing adoption of smartphones and internet connectivity has driven the demand for connected lighting systems. LED segment would eventually hold significant share due to technological and economical advancements such as high efficiency and better brightness levels. The ban on incandescent and HID lights in different countries has resulted in fall in the market share market share during the forecast period.
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Based on Light Source Type, the market report segments the market into Fluorescent Lights, LED Lamps, HID Lamps, and Others. Based on Application, the Global High-End Lighting market segments the market into Wireless and Wired. Based on End User, the market report segments the market into Commercial, Industrial, Residential, and Others. Based on Regions, the Global High-End Lighting market segments the market into North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
The market research report covers the competition analysis of key stake holders of the Global High-End Lighting Market. Key companies profiled in the report include Acuity Brands, Inc., Eaton Corporation Plc. (Cooper Lighting, LLC), Cree Inc., Digital Lumens, Inc., General Electric Company, Honeywell International Inc., Legrand S.A., Koninklijke Philips N.V., Lutron Electronics Co., Inc., and Streetlight. Vision.
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by: Sandhya Nair