The global high-end lighting market exhibited moderate growth during 2015-2020.
Looking forward, the analyst expects the market to grow at a CAGR of around 6% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end-use sectors. These insights are included in the report as a major market contributor.
High-end lighting is used to highlight features, create zones, and alter the overall interior design of a space. It is considered luxurious as it offers uniqueness and enhances residential architectural allure. As a result, the rising demand for modern homes with lavish interior designs on account of rapid urbanization and inflating disposable incomes is driving the adoption of high-end lighting solutions worldwide. Moreover, the leading brands are offering custom light fixtures that are a combination of contemporary and traditional lighting styles to create exquisite residential fixtures. High-End Lighting Market Trends: The flourishing construction industry, in confluence with the rising focus on the upgradation of the existing infrastructure with ultra-modern lighting solutions, represents one of the considerable factors bolstering the growth of the market. Moreover, governing agencies of numerous countries are encouraging the adoption of light-emitting diodes (LEDs) over fluorescent lights, halogen lamps, and incandescent bulbs. LEDs are modern-day high-end lighting solutions, which are energy-efficient, eco-friendly and help save energy and reduce environmental pollution. In line with this, LED technology is gaining traction for plant cultivation under controlled environmental conditions, which is contributing to market growth. Apart from this, several brands are integrating advanced technologies like artificial intelligence (AI) and the internet of things (IoT) to offer remote-controlled, wireless high-end lighting variants. These variants are battery-operated, rechargeable, and connected to a smart device using Wi-Fi or Bluetooth. They can also easily move inside spaces and require no visible cabling. This, along with the increasing demand for connected lighting solutions on account of the boosting sales of smartphones, increasing penetration of the internet and the rising trend of smart residential spaces, is anticipated to drive the market.
Key Market Segmentation: the analyst provides an analysis of the key trends in each sub-segment of the global high-end lighting market, along with forecasts at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, light source type, interior design, application and end user.
Breakup by Light Source Type: LED Lamps HID Lamps Fluorescent Lights Others
Breakup by Interior Design: Modern Traditional Transitional
Breakup by Application: Wired Wireless
Breakup by End User: Commercial Industrial Residential
Breakup by Region: North America United States Canada Asia-Pacific China Japan India South Korea Australia Indonesia Others Europe Germany France United Kingdom Italy Spain Russia Others Latin America Brazil Mexico Others Middle East and Africa
Competitive Landscape: The competitive landscape of the industry has also been examined along with the profiles of the key players being Acuity Brands Inc., CREE Inc., Electronic Theatre Controls Inc., General Electric Company, Helestra Leuchten GmbH, Holtkötter Licht GmbH, Honeywell International Inc., Lutron Electronics Co. Inc., OSRAM Licht AG (ams AG), Signify N.V. and Toshiba Corporation.
Key Questions Answered in This Report: How has the global high-end lighting market performed so far and how will it perform in the coming years? What has been the impact of COVID-19 on the global high-end lighting market? What are the key regional markets? What is the breakup of the market based on the light source type? What is the breakup of the market based on the interior design? What is the breakup of the market based on the application? What is the breakup of the market based on the end user? What are the various stages in the value chain of the industry? What are the key driving factors and challenges in the industry? What is the structure of the global high-end lighting market and who are the key players? What is the degree of competition in the industry?
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