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Increasing need for reducing stress and alleviating mood is a key factor driving market revenue growth.
Market Size – USD 38.54 Billion in 2021, Market Growth – at a CAGR of 3.4%, Market Trends – Increasing need for highlighting various objects and areas in the room.
The global decorative lighting market size is expected to reach USD 51.77 Billion in 2030 and register a revenue CAGR of 3.4% during the forecast period, according to a latest report by Reports and Data. Increasing need for reducing stress and alleviating mood is a key factor expected to drive market revenue growth during the forecast period. Increasing need for highlighting various objects and areas in the room is expected to boost revenue growth of the market between 2022 and 2030. Lighting is needed to complete different tasks. Decorative lights are used in many different places, including shops, malls, libraries, etc. Decorative lighting also helps achieve attributes such as shifting the focus toward the popular designs in homes, hotels, spas, parlors, restaurants, and washrooms among others. However, direct lighting is also required to complete tasks such as sewing, reading, model construction, crafts, and writing, among others. Decorative lighting, such as pendant lighting is also known as a task light, as it provides spotlighting to help users complete the task. In addition, improved ambiance requires lighting to be focused on objects, wall decors, and entry and exit points of various buildings, which improves the atmosphere and mood of the viewer. As a result, increasing adoption of decorative lighting for task completion or aesthetic appeal is expected to drive the market revenue growth over the forecast period.
However, excessive usage changes the color of the light, which is expected to hamper revenue growth of the market during the forecast period. Excessive heating damages the semiconductor material causing the light to change its color. In addition, high voltage input and high frequency of usage can also cause the color to change. Furthermore, decorative lighting should be maintained properly and kept away from sunlight and water to avoid color change and damage. These factors are expected to hamper the market revenue growth during the forecast period.
Companies profiled in the global market report include
Home Depot, Inc., Signify N.V., Hubbell, Inc., Acuity Brands, Inc., Osram Licht AG, Fagerhult BV, SAVANT TECHNOLOGIES LLC, Amerlux LLC, Maxim Lighting International, Inc., Bridgelux, Inc., Intense Lighting LLC, and Generation Brands LLC.
Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/5094
Some Key Highlights in the Report
For the purpose of this report, reports and data has segmented the global decorative lighting market on the basis of product type, light source, price range, distribution channel, application, and region:
Product Type Outlook (Revenue, USD Billion; 2019-2030)
Light Source Outlook (Revenue, USD Billion; 2019-2030)
Price Range Outlook (Revenue, USD Billion; 2019-2030)
Distribution Channel Outlook (Revenue, USD Billion; 2019-2030)
Application Outlook (Revenue, USD Billion; 2019-2030)
Regional Outlook (Revenue, USD Billion; 2019-2030)
Key Advantages of Decorative Lighting Report:
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