The global commercial lighting market size reached USD 9.75 billion in 2021 and is expected to register a revenue CAGR of 21.4% during the forecast period, according to latest analysis by Emergen Research. Market revenue growth is attributed to the growing need for more energy-efficient lighting systems, rapid infrastructure development, and ongoing and upcoming smart city projects in developing countries. Smart lighting use in commercial and industrial applications has been steadily increasing in recent years, owing to a growing focus on energy conservation. The use of such energy-efficient LED lighting technology reduces maintenance expenses significantly as they use about half as much electricity as standard halogen, incandescent, and fluorescent lights.
Furthermore, such commercial lighting emits no UV light and operates at a low voltage, as well as having a long lifespan, design flexibility, and durability. For instance, LEDs typically last 30,000–50,000 hours, depending on the fixture, compared to 1,000 hours for an incandescent bulb and 8,000 hours for a fluorescent lamp, respectively. As a result of LED luminaires extended life, they have minimal maintenance costs, which helps cut energy expenditure and bills, and is expected to drive revenue growth in the market between 2022 and 2030.
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The report also profiles established and emerging players of the market, covering the business overview, product portfolio, strategic alliances, and business expansion strategies.
Key players in the market include GE Current, A Daintree Company, Hubbell, Schneider Electric, ABB, Zumtobel Group, Acuity Brands Lighting Inc., Wipro Lighting, Siteco GmbH, Cree Lighting, WAC Lighting, and Signify Holding.
Key Points of Commercial Lighting Market:
- Industrial structure analysis of the Commercial Lighting market by identification of various sub-segments
- Extensive analysis of key market players along with their SWOT analysis
- Competitive landscape benchmarking
- Analysis of Commercial Lighting market based on growth trends, futuristic outlook, and contribution to the total growth of the market
- Analysis of drivers, constraints, opportunities, challenges, and risks in the global Commercial Lighting market
- Comprehensive analysis of competitive developments such as expansions, agreements,
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The report studies the historical data of the Commercial Lighting Market and offers valuable information about the key segments and sub-segments, revenue generation, demand and supply scenario, trends, and other vital aspects.
Emergen Research has segmented the global commercial lighting market based on light type, installation type, technology type, application, end-use, and region:
- Light Type Outlook (Revenue, USD Billion; Volume, Thousand Units; 2019-2030)
- Installation Type Outlook (Revenue, USD Billion; Volume, Thousand Units; 2019-2030)
- New Installation
- Replacement Installation
- Retrofit Installation
- Technology Type Outlook (Revenue, USD Billion; Volume, Thousand Units; 2019-2030)
- Application Outlook (Revenue, USD Billion; Volume, Thousand Units; 2019-2030)
- End-Use Outlook (Revenue, USD Billion; Volume, Thousand Units; 2019-2030)
- Commercial Offices
- Retail Stores
- Restaurant & Sporting Facilities
The complete regional analysis covers:
- North America (U.S., Canada, Mexico)
- 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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Key Points of Commercial Lighting Market:
- On 4 March 2020, Legrand acquired Focal Pointr, which is a manufacturer of architectural lighting products. The acquisition is aimed at delivering innovative commercial IoT-based light solutions to Focal Point’s customers thereby increasing its market presence.
- The wireless segment accounted for a largest revenue share in 2021. Rising demand for smart lighting systems in commercial places such as offices, power plants, streets, and others so that they are accessible from remote locations is expected to drive revenue growth of the segment.
- Also, in restaurants and other leisure places, these wireless lightings are adopted to give the place a sophisticated look with a sleek color configuration for complemented beauty. Furthermore, wireless technology of installation requires less space and eliminates the need for extra cables in a small space thereby increasing the adoption rate of such lighting.
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