Latest added Commercial Lighting Market research study by MarketDigits offers detailed product outlook and elaborates market review till 2026. The market Study is segmented by key regions that is accelerating the marketization. At present, the market is sharping its presence […]
Latest added Commercial Lighting Market research study by MarketDigits offers detailed product outlook and elaborates market review till 2026. The market Study is segmented by key regions that is accelerating the marketization. At present, the market is sharping its presence and some of the key players in the study are Deco Lighting, Inc., Syska, Toshiba Corporation, Zumtobel Group Ag. The study is a perfect mix of qualitative and quantitative Market data collected and validated majorly through primary data and secondary sources.
This report studies the Commercial Lighting Market size, industry status and forecast, competition landscape and growth opportunity. This research report categorizes the Commercial Lighting Market by companies, region, type and end-use industry.
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Scroll down 100s of data Tables, charts and graphs spread through Pages and in-depth Table of Content on ” Commercial Lighting Market by Product Type (LED, CFL, LFL, HID, Halogens, others) By End User (Residential, Commercial, Outdoor) and Geography – Global Forecast To 2026″. Early buyers will get 10% customization on study.
To Avail deep insights of Commercial Lighting Market Size, competition landscape is provided i.e. Revenue Analysis (M $US) by Company (2018-2020), Segment Revenue Market Share (%) by Players (2018-2020) and further a qualitative analysis is made towards market concentration rate, product/service differences, new entrants and the technological trends in future.
Unlock new opportunities in Commercial Lighting Market; the latest release from MarketDigits highlights the key market trends significant to the growth prospects, Let us know if any specific players or list of players needs to consider to gain better insights.
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The report covers exhaustive analysis on:
- Commercial Lighting Market Segments
- Commercial Lighting Market Dynamics
- Historical Actual Market Size
- Commercial Lighting Market Size & Forecast
- Commercial Lighting Agents Current Trends/Issues/Challenges
- Competition & Companies involved
- Commercial Lighting Market Drivers and Restraints
The commercial lighting market is projected to reach USD 21.8 billion by 2025 from USD 8.2 billion in 2020; it is expected to grow at a CAGR of 21.5% during the forecast period. The most significant factors driving the growth of this market are the ongoing and upcoming smart city projects in the developing countries, growing focus of governments worldwide on energy consumption, increasing acceptance of standard protocols for lighting control systems, escalating demand for LED lights and luminaires for use in outdoor applications, and surging use of integrated lighting control systems. Rapid transition from traditional lighting to connected lighting solutions and increased adoption of PoE-based and solar lighting system are major opportunities for the commercial lighting market.
Impact of COVID-19 on Commercial lighting Market:
The outbreak of COVID-19 has significantly impacted the lighting industry owing to the lockdown across many countries and disruptions in the supply chain. Thus, most of the lighting OEMs and integrators are witnessing a shortage of electronic components such as chips and LED drivers. This has created an imbalance, resulting in a demand-supply gap and an increase in the prices of lighting products. For instance, Signify has announced a temporary price hike on all LED and lamp electronics as the costs in its logistics chain is on the rise due to the pandemic. Disruption in the supply chain would create an imbalance in the demand-supply equation and create pressure across entities in the smart lighting ecosystem.
Driver: Ongoing and upcoming smart city projects in developing countries
Presently, there are several ongoing smart city projects across the world that offer opportunities to technology companies, technology service providers, utility providers, and consulting companies. The efficient use of electricity is one of the primary goals of smart city infrastructures. Smart cities are considered as the driving factor for sustainable economic growth in a country. Energy efficiency, the sustainability of resources, and advancements in digital technologies have led to the rise of the smart cities concept. The smart lighting application is expected to play a significant role in achieving sustainability and energy savings.
Restraint: High initial costs
The initial cost of smart lightings, as well as the cost of integration and installation services, is high. Smart lightings comprise hardware components such as dimmers, switches, sensors, control systems, and software. Hence, the installation cost of smart lighting is higher than that of conventional lightings. This is primarily due to the requirement for highly expensive software, control systems, and LED light sources for smart lighting solutions. This hampers the adoption of smart lighting control systems.
Opportunity: Rapid transition from traditional lighting to connected lighting solutions
In recent years, there has been a rapid shift from conventional lighting systems to connected lighting systems due to various advantages offered by connected lighting solutions, such as increased energy efficiency, improved ambiance at the workplace, and cost savings in the long run. Connected lighting devices are well known for their energy efficiency. These devices consume less power and have a long life, thereby reducing maintenance and replacement costs. Most of the connected lighting solutions consist of wireless sensors and switches that provide flexibility in lighting control operations, whereas conventional lighting solutions do not have these features. The introduction of wireless lighting controls has boosted the market for retrofit lighting systems, which, in turn, has increased the demand for lighting control systems. Wireless lighting control solutions have not only reduced the use of wires but also helped avoid reconstruction of existing buildings.
Challenge: Interoperability issues between different network components
At present, the biggest concern in the lighting control ecosystem is the availability of solutions with multiple interoperable technologies. End-users need to choose a suitable lighting control solution from a wider range of available solutions but, the lack of uniform standards makes it challenging to integrate the available solutions. The incompatibility of various components and the lack of interoperability create problems for end-users. Traditional lighting control systems usually consist of hardware and software manufactured by the same manufacturer, whereas different manufacturers develop controls in connected lighting solutions. This creates interoperability issues, causing problems for communication between various network components of a lighting system. Hence, there is a need to establish standard protocols to develop compatible products. Several organizations such as the Connected Lighting Alliance (TCLA) and the ZigBee Alliance are trying to standardize the protocols used in connected lighting technology so that luminaires could be used to collect and share data for analytics purposes.
Based on end-use application, the indoor segment held the largest share of the commercial lighting market in 2019.
The market for indoor smart lighting is expected to hold the larger share, owing to the high demand in commercial space. In these applications, smart lighting is an essential element in creating a modern workspace that attracts customers with changing preferences. It continues helping owners to create a flexible working environment, reduce expenses, improve work efficiencies, and create quality lighting that enhances the occupant experience. Hence, the adoption of smart lighting in commercial spaces is gaining more traction and has a high opportunity in the near future due to smart city initiatives by governments across the world.
Key Market Players
Signify (Philips Lighting) (Netherlands); Legrand S.A. (France); Acuity Brands, Inc. (US); GE Current, a Daintree Company (US); OSRAM Licht AG (Germany); Leviton Manufacturing Company, Inc. (US); Lutron Electronics (US); Hubbell Incorporated (US); LEDVANCE GmbH (Germany); Schneider Electric SE (France); Ideal Industries, Inc. (Cree Lighting) (US); and Zumtobel Group (Austria) are a few major players in the commercial lighting market.
- In July 2020, Leviton announced a new online and robust product support center on its website for customers to access at any time. The new support platform encourages self-help for most popular Leviton products, such as how to install videos, compatibility tools to pair the right light bulb with the right dimmer, a competitive comparison tool and where to purchase Leviton products. The center also provides customers FAQs on various popular products, an online chat feature, and a toll-free hotline to call for questions related to Leviton’s diverse product offerings.
- In July 2020, GE Current partnered with Pointr (UK) to enable location-based services in large buildings such as retail premises, warehouses, workplaces, and distribution centers. Current smart lighting combined with Pointr’s location-based services deliver high-value applications to retailers, warehouses, and industrial premises, providing the ability to understand the precise location of employees and visitors using any Android or iOS devices such as smartphones or Honeywell devices.
- In June 2020, OSRAM launched BackLED AREA G1 900 and BackLED AREA G1 900 TW. These are rigid 24V constant-voltage LED boards which allow easy and time-saving installation and achieve outstanding lighting uniformity results, especially in large and shallow light boxes and luminous stretch ceilings with low depths between 90 and 40 mm.
- In March 2020, Signify upgraded its portfolio of compact Philips Xitanium Sensor Ready Xtreme LED drivers for outdoor applications with the recently granted D4i certification. This certification program is designed to deliver standardization in the market, drive wider adoption of IoT connectivity in lighting, and aid smart city or building projects.
- In February 2020, Legrand acquired Focal Point, a Chicago-based privately-held manufacturer of architectural lighting products. This acquisition is Legrand’s fifth addition to its Lighting Sector and marks the company’s elevation to a full solutions provider in the architectural lighting space.
Commercial Lighting Market study analyzes the market status, growth rate, future trends, market drivers, opportunities & challenges, risks and entry barriers, sales channels, distributors and Porter’s Five Forces Analysis. This report makes to focus on the more important aspects of the market like what the market recent trends are. Analysis & estimations attained through the massive information gathered in this market research report are extremely necessary when it comes to dominating the market or creating a mark in the market as a new emergent. A persuasive Commercial Lighting Market research report also endows with the list of leading competitors and their moves such as joint ventures, acquisitions, and mergers etc.
Commercial Lighting Market Reports – Table of Contents
- Assumptions and Research Methodology
- Executive Summary: Global Commercial Lighting Market
- Market Overview
- Key Insights
- Global Commercial Lighting Market Analysis and Forecast, By Product
- Global Commercial Lighting Market Analysis and Forecast, By Detector
- Global Commercial Lighting Market Analysis and Forecast, By Technology
- Global Commercial Lighting Market Analysis and Forecast, By Application
- Global Commercial Lighting Market Analysis and Forecast, By End-user
- Global Commercial Lighting Market Analysis and Forecast, By Region
- North America Commercial Lighting Market Analysis and Forecast
- Europe Commercial Lighting Market Analysis and Forecast
- Asia Pacific Commercial Lighting Market Analysis and Forecast
- Latin America Commercial Lighting Market Analysis and Forecast
- Middle East & Africa Commercial Lighting Market Analysis and Forecast
- Competitive Landscape
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