The global ambient lighting market size is expected to reach USD 125.80 billion by 2030 according to a new study by Polaris Market Research. The report “Ambient Lighting Market Share, Size, Trends, Industry Analysis Report, By Type (Recessed Lights, Surface-Mounted Lights, Suspended Lights, Track Lights, Strip Lights); By Offering; By End Use; By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The demand for the industry is booming with the modernization of infrastructure. Ambient light contributes to the development of cities by providing an ambiance that promotes tourism and economic development. In addition, the adoption of cutting-edge technologies in light systems is likely to boost industry demand. Ambient light technology blends the Red Green Blue (RGB) colors by adjusting the potential of digitally controlled LED lights. Furthermore, the major factors contributing to the demand for the industry include demand for aesthetic looks, cost-effective solutions, urbanization and digitization, government initiatives, and policies for energy savings, as well as the upcoming smart city projects.
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Recessed lighting is projected to hold the largest market share owing to its increased utilization in the household sector. The use of recessed lights in the house provides a wall washing effect that makes a room look bigger. In addition, it also offers an illuminating look to a place along with the broad availability of versatile light options. The significant market share of the hospitality & retail sector is driven by the increased adoption of ambient light over traditional light systems owing to the benefits offered by them, such as radiating illuminating effect, calming surroundings, and cost-efficiency.
Asia Pacific is expected to account for the largest share of the global industry over the forecast period. The increased demand for energy-efficient light solutions from the end-users of emerging economies such as China and India is projected to accelerate the growth of the industry. Major participants such as Hubbell Incorporated, Dialight plc, General Electric Company, Häfele, Helvar, Honeywell International Inc., Signify Holding, Ideal Industries, Lutron Electronics, Osram Licht AG, Acuity Brands, Inc., RAB Lighting Inc., SPI Lighting Holdings, LLC, and Zumtobel Group are some of the key players operating in the global market.
Polaris Market Research has segmented the ambient lighting market report on the basis of offering, type, end-use, and region:
Ambient Lighting, Offering Outlook (Revenue - USD Million, 2018 - 2030)
Ambient Lighting, Type Outlook (Revenue - USD Million, 2018 - 2030)
Ambient Lighting, End-Use Outlook (Revenue - USD Million, 2018 - 2030)
Ambient Lighting, Regional Outlook (Revenue - USD Million, 2018 - 2030)