Specialty Lighting Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

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Specialty Lighting Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

Status : October, 2019 | Semiconductor & Electronics | PPT format

Report Digest


Global Specialty Lighting Market: Overview

With the penetration of specialty lighting in the end-use sector such as aviation, medical, and entertainment the specialty lighting market has gained traction in recent years. LED lights have long replaced the incandescent light bulbs to be used for widespread applications across the commercial and residential sector. The shift in consumer preference from CFLs to LED technology has unlocked numerous growth opportunities for the global specialty lighting market.

Changes in the street lighting projects such as the adoption of smart lighting and energy-efficient lighting have further pushed the envelope for the specialty lighting market. For instance, Belo Horizonte, one of the major cities in Brazil has upgraded 182,000 streetlights with LEDs which helped them cut down the electricity cost by 50%. Such modernization projects aimed at enhancing the energy-efficiency and the advancements in the lighting technology compelled Transparency Market Research to conduct exhaustive research on the global specialty lighting market.

In its latest study, TMR Research talks about the evolution of lighting technology and highlights the key growth opportunities for the stakeholders. It also takes into account the factors shaping the global specialty lighting market’s growth throughout the forecast period.

Global Specialty Lighting Market: Notable Developments and Competitive Analysis

Specialty lighting has now become the need of the day as governments across the world have set strict laws for air and surface disinfection. This has also led to the development of new germicidal lamps and UV disinfection systems. Mentioned below are a few new developments in the global specialty lighting market:

  • Ushio Opto Semiconductors, Inc. has recently developed a broadband LED that produces an output of 160 mW over a bandwidth that covers range from visible light to infrared light. This light finds extensive applications in the food and medicine industry.
  • OSRAM has entered in a partnership with Scout to introduce LED embedded schoolbags. OSRAM had earlier provided its services to the manufacturers of safety vests and has now extended its support to Steinmann Group.
  • Cree, Inc. has announced the launch of next gen XLamp XP-E2 Photo Red (660 nm) and Far Red (730 nm) LEDs. These LEDs have enhanced the efficiency of LED luminaires and reduced the payback periods. This affordability and optimized lighting provided by this product make it an ideal solution for horticulture applications.

The competitive landscape of the global specialty lighting market is characterized by new product developments and partnerships that allow companies to borrow expertise from other enterprises.

Leading companies in the global specialty lighting include:

  • Advanced Specialty Lighting, Inc.
  • Getinge AB
  • Herbert Waldmann GmbH & Co. KG
  • Brandon Medical Co Ltd
  • Integra LifeSciences Corporation

Global Specialty Lighting Market: Key Drivers

Rising Demand for Surgical Lighting Solutions to Foster Growth

When it comes to setup for surgery, there are specific lighting requirements which include a perfect balance between luminance and shadow. These days there has been a rise in demand for shadowless lights. These lights which were earlier used in major surgeries have now entered the arena of dental and minor surgeries. Manufacturers are eyeing the medical industry to provide surgical lighting solutions as they are the highest revenue contributors to the global specialty lighting market.

Increasing Use of Specialty Lights in Agricultural Industry to Propel Growth

Due to changes in climate agricultural business are adopting new technologies such as horticulture lighting for cultivation. Moreover, there has been a rise in indoor and vertical arming which essentially requires LED lighting solutions, thus contributing to specialty lighting market’s growth.

Global Specialty Lighting Market: Regional Analysis

North America is at the helm of the specialty lighting industry due to high demand from the entertainment industry. There is a wide range of music festivals that happen in this region that require novel entertainment lighting solutions. The U.S. has highly contributed to the market’s growth in this region majorly through surgical lighting application. Asia Pacific is expected to be one of the fastest growing specialty lighting market due to increasing demand for UV disinfection equipment.

The specialty lighting market is segmented based on:

Light Source:

  • LEDs
  • Others (halogen lamps, xenon bulbs, incandescent lamps)

Application:

  • Entertainment
  • Medical
  • UV lamps
  • Others

Entertainment lighting:

  • Stage lighting
  • Studio lighting
  • Others

Medical lighting:

  • Surgical lighting
  • Examination lighting

UV lamps:

  • Air purification
  • Water purification
  • Surface purification

The study presents reliable qualitative and quantitative insights into:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand chain of the market
  • Market valuation (revenue and/or volume)
  • Key trends/opportunities/challenges
  • Forces defining present and estimated future state of the competitive landscape
  • Technological developments
  • Value chain and stakeholder analysis

The regional analysis covers:

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

The vast market research data included in the study is the result of extensive primary and secondary research activities. Surveys, personal interviews, and inputs from industry experts form the crux of primary research activities and data collected from trade journals, industry databases, and reputable paid sources form the basis of secondary research. The report also includes a detailed qualitative and quantitative analysis of the market, with the help of information collected from market participants operating across key sectors of the market value chain. A separate analysis of macro- and micro-economic aspects, regulations, and trends influencing the overall development of the market is also included in the report.

Highlights of the report:

  • A detailed analysis of key segments of the market
  • Recent developments in the market’s competitive landscape
  • Detailed analysis of market segments up to second or third level of segmentation
  • Historical, current, and projected future valuation of the market in terms of revenue and/or volume
  • Key business strategies adopted by influential market vendors
  • Outline of the regulatory framework surrounding and governing numerous aspects of the market
  • Growth opportunities in emerging and established markets
  • Recommendations to market players to stay ahead of the competition

Note: Immense care has been taken to present data with the highest levels of accuracy in all TMRResearch reports. Nevertheless, recent developments related to market/vendor landscape may take time to reflect in the analysis.

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