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

  • Single User License $3500

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

Status : February, 2020 | 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 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.

Wish to check Table of Contents of this report?

Click below to Request TOC

Request TOC