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Market Size – USD 57.42 Billion in 2020, Market Growth – at a CAGR of 8.5%, Market Trends – Increasing convergence of emission reduction efforts with technology
VANCOUVER, BC, CANADA, June 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.
The Global Ambient Lighting Market Research Report published by Emergen Research has been formulated by analysis of key business details and extensive geographical spread of the Ambient Lighting industry. The study offers comprehensive coverage of the qualitative and quantitative analysis of the Ambient Lighting market along with crucial statistical data about the Ambient Lighting market. The research study provides historical data from 2017 to 2018 and offers accurate forecast estimation until 2027. The report also profiles established and emerging players of the market, covering the business overview, product portfolio, strategic alliances, and business expansion strategies.
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Some Key Highlights From The Report:
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.
Among other end use segments, the residential segment accounted for a larger revenue share in the ambient lighting market in 2020. Increased demand from energy efficient lighting to reduce energy consumption has contributed to the growth of this market segment.
Asia Pacific dominated other regional markets in terms of revenue share in the global ambient lighting market in 2020. This is attributed to the rapid urbanization and industrial development of the region which has also boosted demand for ambient lighting solutions.
The market in North America is expected to register significantly larger revenue share than other regional markets during the forecast period. Presence of major market players in the region which inlcude Acuity Brands, Inc., Hubbell Incorporated, and General Electric Company is expected to boost revenue growth of the ambient lighting market during the forecast period.
Furthermore, the report includes an in-depth analysis of the competitive landscape. The segment covers a comprehensive overview of the company profiles along with product profiles, production capacities, products/services, pricing analysis, profit margins, and manufacturing process developments. The report also covers strategic business measures undertaken by the companies to gain substantial market share. The report provides insightful information about recent mergers and acquisitions, product launches, collaborations, joint ventures, partnerships, agreements, and government deals.
Key Companies Profiled in the Report:
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.
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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
Offering Outlook (Revenue, USD Billion; 2018–2028) Software & Services
End-use Outlook (Revenue, USD Billion; 2018–2028) Residential
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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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.
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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Thank you for reading the report. The report can be customized as per the requirements of the clients. For further information or query about customization, please reach out to us, and we will offer you the report best suited for your needs.
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Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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Ambient Lighting Market Size Worth USD 110.26 Billion in 2028
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