According to IMARC Group’s latest report, titled “Architectural Lighting Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global market reached a strong growth in 2020. Architectural lighting represents a combination of technology and art that enhances the experience and ambiance of any space or building. It aids in improving the aesthetical impact of a space by providing a balance between lighting and architecture, along with controlling the energy consumption. Consequently, it finds wide-ranging applications across several sectors, including retail, education, residential, hospitality, commercial, industrial, etc.
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Architectural Lighting Market Trends:
The increasing investments in the construction of smart city infrastructures, such as bridges, roadways, commercial buildings, etc., are primarily driving the architectural lighting market. Additionally, the widespread LED-based product adoption with low carbon footprints that are more efficient in terms of power consumption and minimizes the adverse effects on the environment as compared to other conventional lighting solutions is further catalyzing the market growth. Besides this, the escalating demand for energy-efficient architectural lighting systems to reduce maintenance expenditures is acting as another significant growth-inducing factor. Moreover, the leading manufacturers are launching smart variants integrated with sensors for providing safe and efficient on-demand lighting, owing to numerous technological advancements, which is also augmenting the global market. Apart from this, the introduction of control systems that offer the option for setting the light intensity according to the need of the consumers and high performance is anticipated to fuel the global architectural lighting market over the forecasted period. Looking forward, IMARC Group expects the global architectural lighting market to grow at a CAGR of 6.1% during the forecast period (2021-2026).
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape with Key Players:
- Signify Holding
- OSRAM GmbH
- Cree Lighting
- General Electric Company
- Acuity Brands Lighting Inc.
- Seoul Semiconductor Co.
- Ltd, Samsung
- Griven S.r.l.
Key Highlights of the Market Segmentation:
Breakup by Light Source:
- Fluorescent Lights
- High Intensity Discharge (HID) Lights
- Light Emitting Diode (LED) Lights
- Others
Breakup by Lighting Type:
- Ambient
- Task
- Accent
Breakup by Application:
- Wall Wash
- Cove Lighting
- Backlighting
- Others
Breakup by End Use:
- Commercial
- Residential
- Industrial
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)
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Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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