Architectural Lighting Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2029

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Architectural Lighting Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2029

Status : September, 2020 | Semiconductor & Electronics | PPT format

Report Digest


Global Architectural Lighting Market: Overview

Architectural lighting refers to a convergence of technology (lighting) and art (architecture). The architecture that is being lighted or illuminated can be either residential or commercial. Architectural lighting is basically an illumination for building function and design. Designs of architectural lighting organize, infuse, integrate, create, and imagine lighting into coordinated system. This system comprises utilization of the benefits of electrical light, natural light or both to advance and serve human actions. Architectural lighting work toward fostering spatial experience and it helps in influencing spatial awareness, texture, and mood. Augmented awareness about the product is likely to influence the growth of the global architectural lighting market in the forthcoming years.

The rising need to ensure that a space is well-lit in a bid to enhance the appeal of lighting and to augment the interior and corners of a space is likely to shoot up the demand for architectural lighting. The demand for consumers has exhibited a tendency toward architectural lighting due to multiple benefits offered by this form of lighting. Such benefits of architectural lighting comprise longer lifespan, adjustable illumination power, reliability, affordability, and are cost effective. All these benefits are likely to amplify growth opportunities for the global architectural lighting market in the years to come. In addition, the need to lighten up corridors, walkways, parking lot, gardens, walls, stairs, and rooms of a building is expected to fuel increased use of architectural lighting in residential and commercial sectors.

The global architectural lighting market has been segmented based on light type, application, end user, and region. The main objective of providing such a comprehensive report is to provide a deep insight into the market.

Global Architectural Lighting Market: Notable Developments

The global architectural lighting market has witnessed some developments in the last few years. One of such markets developments is mentioned below:

  • In February 2020, India-based K-LITE Industries introduced a new product line of LED architectural lighting. This range of products comprise pathway lighting solutions, wall washers, uplight, area lighting poles vertical light bars, up-down lighting, in-ground luminaire, facade lighting, sleek polar lighting, and billboard lighting. With such an extensive range of offerings, K-LITE Industries is estimated to increase its sales and diversify its product portfolio.

Some of the key market players of the global architectural lighting market are

  • Technical Consumer Products, Inc.
  • Zumtobel Group AG
  • Technical Consumer Products, Inc.
  • Acuity Brands Lighting Inc.
  • Siteco GmbH
  • Hubbell Incorporated

Global Architectural Lighting Market: Growth Drivers

Increased Demand for Use of Green Technology to Shoot Up Demand in the Market

The growth of the global architectural lighting market is estimated to be influenced by the rising inclination of consumers toward use of lighting for decorative purposes. In addition, a well-lit environment adds to bettering the security and safety of the surroundings. The advent of LED lighting system is further estimated to reinforce the technique of designing lighting lamps and fixtures. This assists the interior designers to offer a wide range of lighting solutions for both residential and commercial spaces. Growing popularity of interior design is estimated to support growth of the global architectural lighting market in the years to come.

In addition, there has been a rising demand for sustainable and energy efficient lighting solutions is likely to emerge as one of the important factors driving the demand for architectural lighting in the years to come. Such energy efficient lighting solutions utilize less amount of energy than incandescent bulbs. In addition, rising awareness about the benefits of green technology have compelled many consumers to opt for such products. Driven by consumer demand, manufacturers are also focusing more on the manufacturing of architectural lighting solutions, which is likely to boost sales of the product in the years to come.

Global Architectural Lighting Market: Regional Outlook

Europe is likely to emerge as one of the leading territories in the global architectural lighting market. Rising demand for energy efficient lighting solutions together with augmented awareness about such lighting in Europe is estimated to pave way for the demand of architectural lighting in the region. Prevalence of modern and energy efficient buildings in Europe is estimated to present high growth opportunities for the architectural lighting market in Europe.

The global architectural lighting market is segmented as:

Technology

  • LED
  • HID

Application

  • Indoor
  • Outdoor

End User

  • Residential
  • Commercial

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.