Global ambient lighting market Estimated to grow at a CAGR 7.52% throughout the forecast period
Knowledge Sourcing Intelligence announces the publication of a new report on “Global Ambient Lighting Market – Forecasts from 2020 to 2025" to their offering.
Ambient lighting which is also known as general lighting is a type of primary source of lighting, particularly for a certain room. These types of lights offer an improved sense of warmth and depth of either a space or a room along with offering basic functionality also.
According to the report, the global ambient lighting market is projected to increase at a CAGR of 7.52% over the forecast period 2019-2025.
The major factors that are driving the ambient lighting market growth during the next five years include the burgeoning adoption of energy-efficient lighting systems in both developed and developing economies of the world. Numerous government initiatives towards the adoption of efficient lighting systems in various developed economies of the world further bolster the ambient lighting market growth during the next five years. Furthermore, the booming technological innovations, such as the integration of smart lights, connected lights in residential and commercial buildings is also projected to propel the opportunities for the global ambient lighting market to grow in the near future. Additionally, the shifting consumer preferences towards smart homes is also leading to wide adoption of connected and advanced ambient lighting systems which is also positively impacting the market growth in the near future. However, the market is projected to be restrained by the fact that the costs associated with these lighting systems are considerably high, thereby inhibiting the adoption, especially in the underdeveloped economies around the world.
Geographically, the global ambient lighting market has been classified into North America, South America, Europe, Middle East and Africa, and Asia Pacific. The North American region is projected to hold a noteworthy share in the market throughout the forecast period primarily on account of the early adoption of technology. Moreover, the presence of key players of the market in the region such as General Electric, Kree Inc., and Hubbell Incorporated among others further bolster the share of this region in the global market. The market in the APAC region is projected to witness a rapid growth majorly on account of the growing construction activities in the major developing economies such as India and China among others for both residential and commercial sectors. Furthermore, the various rising initiatives towards efficient lighting systems by the Indian government also bolster the market growth in the Asia Pacific region for the next five years.
The major players covered as part of the report are Philips Lighting Holdings B.V., Häfele GmbH & Co KG, Acuity Brands Lighting Inc., Wipro Consumer Care & Lighting, OSRAM Licht AG, Eaton Corporation, Cree Inc., Hubbell, General Electric, Zumtobel Group AG, and Selux AG.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/global-ambient-lighting-market
This report has segmented the global ambient lighting marketon the basis following terms:
By End User Industry
- North America
- South America
- Middle East and Africa
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