Market Analysis
Market Research Future (MRFR) presumes the global ambient lighting market to reach USD 94 billion at a CAGR of 11% from 2017 to 2023 (forecast period).
The lighting system utilized to illustrate the surroundings is referred to as ambient light. The ambient lighting in the home has to be bright and glare-free. It should use less energy, be more cost-effective, and improve the ambiance. It is suitable for both indoor and outdoor use. Ambient lighting for home and commercial use is gaining popularity these days. Ambient room lighting is growing in popularity as the interior design business grows.
Governments in nations such as India are taking steps to limit energy consumption. LED lights are being promoted since they utilize less energy, and so produce less pollution. This has given ambient lighting market size a boost. The expansion in residential, commercial, and infrastructure projects has also boosted the demand for ambient lighting devices. The global ambient lighting industry is also being driven by urbanization and modernization.
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COVID-19 Impact on the Global Ambient Lighting Market
The COVID-19 is affecting people all over the world. Except for the pharmaceutical business, it has had a negative impact on the running of all industries. Almost every country has gone under complete lockdown. The borders have been locked, which implies that cross-border movement will be impossible for the foreseeable future. Businesses are also being closed down. The wave appears to have affected every individual and business on the planet.
This has had a negative impact on the ambient lighting market. Ambient lighting market share is likely to expand dramatically following the COVID-19 crisis. This means that all residential and commercial projects that were halted due to the total lockdown will be resumed.
Market Segmentation
The segment study of the world ambient lighting market is based on applications, components, and type. The type based, ambient lighting market segments are surface mounted lighting, track lighting, suspended lighting, down lighting, and others. The components based, ambient lighting market is segments are software, hardware, and services among others. The applications based segments of the ambient lighting market size are commercial, and residential among others. Offices, hospitals, and automotive are among the commercial segments.
Regional Study
MRFR’s regional analysis of the ambient lighting market shows that the ambient lighting market in the Asia Pacific region is expected to surge at a high pace in the years to come. The rise in infrastructure activities in economies, such as India and the rest of APAC is likely to cause the expansion of the regional ambient lighting market. In addition, the growing focus of governments in the implementation of regulations and legislation that pertain to the application of energy efficiency can also bolster the ambient lighting market in APAC. Ambient lights are widely applied as automotive lighting systems. The expansion of the automobile sector across India, South Korea, China, and Japan as they house numerous reputed vehicle producers can impel the expansion of APAC ambient lighting market. The automotive sector is observed to create numerous growth opportunity for the market. In Europe and North America, the rise of automobile utility can impel the expansion of the market.
Key Players
MRFR listed some noteworthy players operating in the worldwide ambient lighting market. They are; General Electric Company (U.S.), Pasolite (India), Enterprise Lighting LTD (U.S.), Thorn Lighting (U.K) Philips Lighting Holding B.V. (Netherlands), Häfele GmbH & Co KG (Germany), Cree, Inc. (U.S.), Acuity Brands Lighting Inc. (U.S.), LIGMAN Lighting Co., Ltd. (Thailand), Unity Technologies SF (U.S.), and OSRAM Licht GmBH (Germany) among others.
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About Market Research Future:
Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR's methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.
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