Ambient Lighting Market To Witness Explosive Growth By 2028 | Leading Players Are Signify N.V., Acuity Brands, Inc. Hubbell Incorporated
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.
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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 latest market intelligence report, titled ‘Global Ambient Lighting Market’, is intended to provide the target audience with the necessary information about the global Ambient Lighting industry. The report comprises a detailed analysis of the vital elements of the Ambient Lighting market, including key drivers, constraints, opportunities, limitations, threats, and micro- and macro-economic factors. The report carefully investigates the present market scenario and the fundamental growth prospects. The report entails an organized database of the Ambient Lighting market dynamics that helps market analysts estimate the global market growth rate over the projected timeline.
Global Ambient Lighting Market Report – Table of Contents:
Chapter 1 includes the global Ambient Lighting market introduction, followed by the market scope, product offerings, growth opportunities, market risks, driving forces, and others.
Chapter 2 broadly categorizes the Ambient Lighting market on the basis of geography, and determines the sales, revenue, and market shares of each region over the estimated period.
Chapter 3 elaborates on the competitive outlook of the Ambient Lighting market, focusing on the major manufacturers and vendor landscape.
Chapter 4 exhaustively studies the key manufacturers of the Ambient Lighting industry, along with their anticipated sales and revenue shares.
Chapters 5 includes market segmentation based on product type, application range, and market players.
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Some major companies included in the global market report are
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.
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)
Offering Outlook (Revenue, USD Billion; 2018–2028)
Software & Services
End-use Outlook (Revenue, USD Billion; 2018–2028)
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Key Highlights of 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.
Global Ambient Lighting Market Geographical Landscape – Synopsis:
The report closely studies the growth trajectory of the global Ambient Lighting market. It brings to light the global dominance of the leading regional segments, including North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.
The study elaborates on the crucial information pertaining to the regional market share. It simultaneously focuses on the significant details about the growth patterns of each regional market.
Moreover, the report encases an exhaustive geographical study of the market, emphasizing the business growth prospects and market barriers for each of the key market regions.
Key questions addressed in the report:
Who are the leading players dominating the global Ambient Lighting Market?
Which factors could potentially hamper the global market growth during the forecast period?
Which regional market offers the most attractive growth opportunities to the companies operating in this market?
How is the raw material availability affecting the demand for Ambient Lighting in this industry vertical?
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