Ambient Lighting Market Development Strategy and Future Prospects 2023
Ambient Lighting Market Highlights:
Ambient Lighting Market to grow exponentially and reach USD 94 Bn at a CAGR of 11% by the end of the forecast period of 2017-2023.
Ambient lighting Market solutions have garnered many accolades due to their energy saving, easy installation, low maintenance, and reliable performance features. Ambient lighting provides uniform, glare-free, superior quality illumination, which is highly desirable in offices, retail outlets, and other areas to improve customer experience.
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Surging awareness regarding energy conservation has resulted in the adoption of energy-efficient lighting solutions. Moreover, government norms in multiple countries are advocating the use of energy-efficient products, which has resonated strong growth within the ambient lighting market.
Growing consumer preference for sophisticated lighting in home decor and escalated interest in interior designing has provided abundant scope for the growth of ambient lighting market in the residential and commercial sector. Additionally, a growing number of infrastructural activities across the globe has induced demand within the ambient lighting market.
The automotive sector is responsible for generating a substantial chunk of the demand for ambient lighting market. Initially, ambient lighting was introduced in luxury cars to boost the aesthetic value and appeal of the vehicles. Increasing sale of luxury cars is likely to augment the growth of the market. However, OEMs are increasingly providing ambient lighting as standard features in low and mid-range cars. Ambient lighting ensures enhanced visibility of dashboard and boosts driver safety. Moreover, the automotive industry is persistently embracing developments such as autonomous driving which require novel ambient lighting systems to complement these technologies. Furthermore, escalating concerns over vehicle safety and emissions have resulted in the enactment of stringent set of guidelines pertaining to the same. Regulatory authorities including US Department of Transportation, Society of Automotive Engineering (SAE), National Highway Transportation Safety Administration (NHTSA), and Society of Automotive Engineering (SAE) have been instrumental in advocating the use of ambient lighting in automotive.
Ambient Lighting Competitive Landscape
LIGMAN Lighting Co., Ltd. (Thailand), Philips Lighting Holding B.V. (Netherlands), General Electric Company (U.S.), Pasolite (India), Unity Technologies SF (U.S.), Acuity Brands Lighting Inc. (U.S.), Thorn Lighting (U.K), Cree, Inc. (U.S.), Enterprise Lighting LTD (U.S.), Häfele GmbH & Co KG (Germany), and OSRAM Licht GmBH (Germany) are the eminent players in the ambient lighting market.
Ambient Lighting Industry Updates
February 2019 – Grupo Antolin, a leader in vehicle interiors, and HiRain Technologies, a leading automotive Chinese electronics provider, entered into a strategic partnership to develop new vehicle lighting solutions. Grupo Antolin and HiRain Technologies have already started working on advanced dynamic ambient lighting projects that will come to the Chinese market by 2019.
Ambient Lighting Market Segmentation
The global ambient lighting market has been segmented based on type, component, and application.
By type, the ambient lighting market has been segmented into down lighting, surface mounted lighting, suspended lighting, track lighting, and others.
By component, the ambient lighting market has been segmented into hardware, software, services, and others.
By application, the ambient lighting market has been segmented into residential, commercial, and others. The commercial segment has been further segmented into automotive, hospitals, and offices.
By region, the ambient lighting market has been segmented into North America, Rest-of-the-World (RoW), Europe, and Asia Pacific (APAC).
North America is spearheading the global ambient lighting market owing to spiraling demand from residential, industrial, and commercial sectors. Moreover, due to the high sale of luxury cars in the region, there is additional demand from the automotive industry. Other factors driving the market growth include high disposable income among consumers and stringent energy conservation regulations.
The APAC ambient lighting market is envisioned to exhibit rapid growth over the forecast period. Heightened focus on energy efficiency and implementation of various regulations pertaining to energy conservation has led to the adoption of ambient lighting across various sectors. In addition, an increase in spending capabilities has led to augmented demand for ambient lighting from the residential sector. Moreover, the rise in infrastructural activities is supporting the growth of the market.
Table Of Contents
1 Market Introduction
1.2 Scope Of Study
1.2.1 Research Objective
1.3 Market Structure:
1.3.1 Global Ambient Lighting Market: By Type
1.3.2 Global Ambient Lighting Market: By Components
1.3.3 Global Ambient Lighting Market: By Applications
1.3.4 Global Ambient Lighting Market: By Region
2 Research Methodology
2.2 Primary Research
2.3 Secondary Research
2.4 Forecast Model
3 Market Dynamics
3.2 Market Drivers
3.3 Market Challenges
3.4 Market Opportunities
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List Of Tables
Table 1 Ambient Lighting Market, By Type
Table 2 Ambient Lighting Market, By Components
Table 3 Ambient Lighting Market, By Applications
List Of Figures
Figure 1 Research Methodology
Figure 2 Ambient Lighting Market: By Type (%)
Figure 3 Ambient Lighting Market: By Components (%)
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