Driven by increasing awareness of energy-efficient lighting systems, modernization of infrastructures, and decreasing costs of light sources such as LEDs, the ambient lighting market is forecast to reach $96.09 Billion by 2023 from $46.48 Billion in 2016 at a CAGR of 10.71% during 2017 to 2023. According to research by ReportsnReports, North America, Europe, Asia Pacific (APAC) is expected to hold the largest share of the market by 2023.
The ambient lighting market in APAC will grow at a high rate between 2017 and 2023. This report covers the market in regions such as North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW). The ambient lighting market in Asia Pacific is expected to grow at a high rate between 2017 and 2023. APAC is home to some of the top players in the lighting market such as Sharp Corporation (Japan) and Samsung (South Korea). Besides this, APAC has a large population, and the standard of living in this region is also improving. The countries of in APAC are introducing legislations pertaining to energy efficiency, which is further supporting the growth of the ambient lighting market in this region.
The hardware segment holds a major share of the ambient lighting market in 2017. Hardware pertaining to ambient lighting products includes lamps and luminaires and lighting control. The presence of a large number of companies that offer ambient lighting products for infrastructure projects is driving the growth of the ambient lighting market for hardware. The market is expected to grow at a high rate between 2017 and 2023. The increasing demand for automation and connected lighting is contributing to the growth of the market.
The ecosystem of the ambient lighting market comprises component manufacturers such as Philips Lighting Holding B.V. (Netherlands), Cree, Inc. (US), Acuity Brands Lighting Inc. (US), and OSRAM Licht GmBH (Germany), and system integrators, such as, Pasolite (India), LIGMAN Lighting Co., Ltd. (Thailand), and Thorn Lighting (UK).
The ambient lighting market, on the basis of offering, has been segmented into hardware, and software and services. On the basis of type, the market has been segmented into recessed lights, suspended lights, track lights, strip lights, and surface-mounted lights. Moreover, the market for ambient lighting has been segmented on the basis of end user into residential, hospitality and retail, healthcare, office buildings, industrial, and automotive. The overall ambient lighting market has been divided on the basis of region into North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW).
In the process of determining and verifying, the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (25%), Tier 2 (40%) and Tier 3 (35%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C-Level (50%), Directors (40%) and others (10%) from various key organizations operating in the ambient lighting market. The primary interviews were conducted worldwide covering regions such as North America (35%), Europe (22%), Asia Pacific (28%) and RoW (15%).
The illustrative segmentation, analysis, and forecast for the ambient lighting market based on offering, type, end user, and region have been conducted to provide an overall view of the ambient lighting market. Detailed competitive landscape, including key players, in-depth analysis, and revenues of the key players, has been provided. Available customizations of the report offer further country-wise segmentation (in terms of value) of the ambient lighting market; further breakdown of the industry could be provided, along with the profiling of additional companies in the report
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