The high-end lighting market size is expected to reach USD 25.3 billion by 2026 according to a new study by Polaris Market Research. The report “High-end Lighting Market Share, Size, Trends, Industry Analysis Report By Light Source (HID, LED, Fluorescent Lights), Application Type (Wired, Wireless); End-user (Industrial, Commercial, Residential and Others); By Regions, Segments & Forecast, 2019 – 2026” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Lighting market has witnessed a huge transformation in the past few years due to the introduction of LED lights. The high-end lighting market is sure on transition state from traditional lighting technologies. However, the global events have given clear contours to the advancements in lighting industry, causing a shift in some of the parameters in the past few years. Introduction of stringent regulations pertaining to usage of energy saving lights has led to augment in usage of energy efficient lights such as LED as well.
The inclination towards smart homes that are connected has led to massive transition in the demand for high-end lighting in the past few years. The introduction of standardized deviation color matching systems (SDCM) is also one of the major factors driving growth of high-end lighting market. Technological advancements in the lighting market coupled with introduction of green lighting systems has also fueled the growth in demand for these high end lighting, thereby driving the growth of the market. Major players in this market can focus on cross industry expansion, thus bring in new opportunities in terms of revenue.
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Asia Pacific is expected to witness exponential growth in demand for high-end lightings over the forecast period. Ban on usage of HID and incandescent lightbulbs as a part of energy conservation law in China, has also driven the adoption of LEDs in this country. This in turn, has led to augment in demand for high-end lightings in the recent years, thus fueling the growth of the market. In addition to this, Europe has accelerated the switchover to ecological lighting systems by extending regulation to ban usage of low-voltage halogen lamps. Japan is also expected to witness increase in installations of high-end lighting at the 2020 Tokyo Olympics. Hence, the market size for high end lightings is anticipated to witness significant growth in this country.
The key players in this market include OSRAM Licht AG, Philips Lighting Holding B.V., CREE Inc., General Electric Company, Toshiba Co., Digital Lumens, Inc., Holtkoetter, CMD Ltd., Helestra Leuchten GmbH, and less’n’more gmbh among others. These key market players are continuously focusing on R&D activities in order to gain major market share. In addition to this, the key market players in high end lighting have adopted the strategy of signing agreements with other small players so as to geographically increase the visibility of their products.
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Polaris Market research has segmented the high-end lighting market report on the basis of light source, application type, end-user and region
- High-end Lighting Source Type Outlook (Revenue, USD Million, 2015 – 2026)
- HID
- LED
- Fluorescent lights
- High-end Lighting Application Type Outlook (Revenue, USD Million, 2015 – 2026)
- Wired
- Wireless
- High-end Lighting End-User Outlook (Revenue, USD Million, 2015 – 2026)
- Commercial
- Industrial
- Residential
- Others
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The global High-End Lighting Market is estimated to touch US$ 24.32 billion by the completion of the year 2025.
The worldwide market is expected to develop at a CAGR of 6.1% for the duration of the prediction.The introduction of LEDs, in latest ages, has altered the market forces for high-end lighting that was, until that time, ruled by conservative lights for example incandescent bulbs, fluorescent lights and halogen bulbs.
This is additionally estimated to increase the progress of the market for high-end lighting.Request Sample Copy of This Market Research @ https://www.millioninsights.com/industry-reports/high-end-lighting-market/request-sampleThe High-End Lighting market on the source of Type of End User could span Domestic, Commercial, and Industrialized.
It is responsible for more than 50% market stake; yet the subdivision of industrialized use is likely to develop at a high percentage, precisely in Asia Pacific, due to growing number of businesses and illumination principles in this market.The subdivision of “commercial lighting” is expected to develop at a CAGR of 6.4% above the period of prediction, due to the progression in the sectors of IT and retail marketing.
The domestic lighting needs a fashionable fitting and dissimilar lighting colors.
Among these subdivisions, modern lighting is expected to achieve maximum stake of the market by the completion of 2025, due to growing demand for contemporary internal in domestic and commercial subdivision.
