Ambient Lighting Market Overview, Merger and Acquisitions , Drivers, Restraints and Industry Forecast By 2028
Emergen Research
Increasing demand for energy efficient lighting and technological advances in lighting solutions are some key factors driving market revenue growth
SURREY, BRITISH COLUMBIA, CANADA , January 20, 2022 /EINPresswire.com/ -- The global ambient lighting market size reached USD 57.42 Billion in 2020, and is expected to register a CAGR of 8.5% during the forecast period. Market revenue growth is primarily driven by rising demand for more energy-efficient lighting solutions and connected and automated lighting systems.
The growing demand for ambient light sensors and linked bedroom ambient lighting systems provide a potential for the Ambient Lighting Market to expand. Interior lighting of exceptional quality is becoming more popular among consumers. This also helps the market for ambient lighting. LED lighting emits fewer UV rays, making it more environmentally friendly.
Governments all around the world are enacting strict rules in order to reduce carbon emissions. Concerns about global warming and ozone depletion have prompted countries to step up their efforts to reduce their carbon footprint. Increased energy use results in increased energy dissipation and carbon emissions, necessitating the need for more sustainable and efficient energy use. Governments in both developed and developing countries are taking steps to limit energy consumption. LED lights are being promoted since they utilise less energy and so produce less pollution. This has given the LED ambient lighting market a boost. The need for ambient lighting devices has increased as the number of residential, commercial, and infrastructure projects has expanded. The global ambient lighting industry is also being driven by urbanisation and modernization.
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Key player are Signify N.V., Acuity Brands, Inc. Hubbell Incorporated, General Electric Company, Osram Licht AG, Ideal Industries (Cree Lighting), Häfele GmbH & Co KG, Lutron Electronics Company, Zumtobel Group, and Honeywell International Inc. are few of the prominent names in the ambient lighting market.
Among other type segments, recessed lights segment accounted for largest revenue share in 2020. Flexibility of installation and availability of wide variety of recessed ambient lights will drive the growth of this market segment.
Among other offerings segments, hardware segment revenue is expected register a rapid CAGR during the forecast period. This is mainly owing to increasing demand for technologically advanced ambient lights that enable energy saving and lower energy bills.
Market Dynamics:
The report offers insightful information about the market dynamics of the Ambient Lighting market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the Ambient Lighting market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Ambient Lighting market.
Segments Covered in Report:
For the purpose of this report, Emergen Research has segmented the global ambient lighting market on the basis of type, offering, end-use, and region:
Type Outlook (Revenue, USD Billion; 2018–2028)
Suspended Lights
Recessed Lights
Strip Lights
Surface-Mounted Lights
Track Lights
Offering Outlook (Revenue, USD Billion; 2018–2028)
Software & Services
Hardware
End-use Outlook (Revenue, USD Billion; 2018–2028)
Residential
Healthcare
Industrial
Office Buildings
Automotive
The current COVID-19 pandemic is expected to have an effect on the growth of the Ambient Lighting industry majorly attributable to the movement restrictions and impact on the supply and demand due to the lockdowns. The COVID-19 pandemic has affected several sectors of the global market, and the Ambient Lighting sector is expected to feel the impact of the pandemic. The economic slowdown and dynamic changes in the demands will further affect the growth of the industry. The report covers the impact analysis of the COVID-19 pandemic on the overall Ambient Lighting industry.
Radical Highlights of the Ambient Lighting Market Report:
Comprehensive overview of the Ambient Lighting market along with analysis of the changing dynamics of the market
Growth Assessment of various market segments throughout the forecast period
Regional and global analysis of the market players, including their market share and global position
Growth strategies adopted by key market players to combat the impact of the COVID-19 pandemic on the market
Impact of the technological developments and R&D advancements on the Ambient Lighting market
Information about profit-making strategies and developmental strategies of major companies and manufacturers
Insightful information for the new entrants willing to enter the market
Details and insights about business expansion strategies, product launches, and other collaborations
The report incorporates advanced analytical tools such as SWOT analysis, Porter’s Five Forces Analysis, feasibility analysis, and investment return analysis
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Key questions addressed in the report:
Who are the leading players dominating the global Ambient Lighting Market?
Which factors could potentially hamper the global market growth during the forecast period?
Which regional market offers the most attractive growth opportunities to the companies operating in this market?
How is the raw material availability affecting the demand for Ambient Lighting in this industry vertical?
Table of Content
Chapter 1. Ambient Lighting Market Methodology & Sources
1.1. Ambient Lighting Market Definition
1.2. Ambient Lighting Market Research Scope
1.3. Methodology
1.4. Research Sources
1.4.1. Primary
1.4.2. Secondary
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018-2028
Chapter 3. Key Insights
Chapter 4. Ambient Lighting Market Segmentation & Impact Analysis
4.1. Ambient Lighting Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Ambient Lighting Market indicators analysis
4.2.2. Ambient Lighting Market drivers analysis
4.2.2.1. Increasing energy consumption and prices
4.2.2.2. Rising government policies regarding energy efficiency
4.2.2.3. Increasing smart grid services
4.2.3. Ambient Lighting Market restraints analysis
4.2.3.1. Highly competitive with presences of local & global players
4.2.3.2. Present challenging economic conditions due to the pandemic
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Chapter 5. Ambient Lighting Market By Form Factor Insights & Trends, Revenue (USD Billion)
Chapter 6. Ambient Lighting Market By Input type Insights & Trends Revenue (USD Billion)
Chapter 7. Ambient Lighting Market By Application Insights & Trends, Revenue (USD Billion)
Chapter 8. Ambient Lighting Market By End-use Insights & Trends, Revenue (USD Billion)
Chapter 9. Ambient Lighting Market Regional Outlook
Continued…
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