"Global Commercial Lighting Market – Industry Trends and Forecast to 2028
Global Commercial Lighting Market, By Offering (Hardware, Software, Services), Installation Type (New, Retrofit), Application (Indoor Lighting, Outdoor Lighting), End-User (Industrial, Commercial) Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Commercial lighting market will reach at an estimated value of USD 27.9 million by 2028 and grow at a CAGR of 20.10% in the forecast period of 2021 to 2028. Rise in the ongoing and upcoming smart city projects in developing countries is an essential factor driving the commercial lighting market.
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Lighting or illumination is defined as the deliberate use of light to achieve aesthetic effects or practical. Lighting includes the use of both artificial light sources like lamps and light fixtures, along with natural illumination by capturing daylight.
**Segments**
- **Type:** The commercial lighting market can be segmented based on type into LEDs, CFLs, incandescent lights, and others. LEDs are expected to dominate the market due to their energy efficiency, longer lifespan, and cost-effectiveness.
- **Application:** Commercial lighting is used in various applications such as offices, hospitals, retail stores, industrial buildings, and others. Each application requires specific lighting solutions to meet the functional and aesthetic needs of the space.
- **End-User:** The end-user segment includes sectors like healthcare, education, hospitality, retail, and others. Each sector has unique lighting requirements based on factors like ambiance, safety, and energy efficiency.
**Market Players**
- **Philips Lighting:** As a leading player in the commercial lighting market, Philips offers a wide range of innovative lighting solutions for various applications. The company focuses on energy efficiency and sustainability in its product offerings.
- **Osram GmbH:** Osram is another key player known for its advanced lighting technologies and smart lighting solutions for commercial spaces. The company's product range caters to the diverse needs of different industries.
- **General Electric Company:** GE is a prominent player in the commercial lighting market with a strong focus on LED lighting solutions. The company's products are known for their quality, performance, and energy efficiency.
- **Acuity Brands Inc.:** Acuity Brands is a major player offering a comprehensive portfolio of lighting products for commercial and industrial applications. The company emphasizes technological innovation and customer satisfaction in its offerings.
The global commercial lighting market is witnessing significant growth driven by rapid urbanization, infrastructural development, and the increasing adoption of energy-efficient lighting solutions. Factors such as government initiatives promoting sustainable practices, the growing emphasis on smart lighting systems, and the rising awareness about the benefits of LED technology are contributing to market expansion. The demand for commercial lighting solutions is also increasing due to the growing focus on enhancing the aesthetic appeal and functionality of commercial spaces.
The market players mentioned above are activelyThe global commercial lighting market is experiencing robust growth and is expected to continue expanding in the coming years. The market is segmented based on type, application, and end-user, with LEDs emerging as the dominant lighting technology due to their energy efficiency, long lifespan, and cost-effectiveness. Various applications such as offices, hospitals, retail stores, and industrial buildings require specific lighting solutions to meet their unique requirements, driving demand for a variety of lighting products and services.
Key market players like Philips Lighting, Osram GmbH, General Electric Company, and Acuity Brands Inc. play a crucial role in shaping the commercial lighting landscape. Philips Lighting is known for its innovative and sustainable lighting solutions, while Osram GmbH specializes in advanced lighting technologies and smart lighting systems. General Electric focuses on LED lighting solutions, emphasizing quality and energy efficiency, and Acuity Brands offers a wide range of lighting products for commercial and industrial applications, focusing on technological innovation and customer satisfaction.
The growth of the commercial lighting market is fueled by several factors, including rapid urbanization, infrastructural development, and the rising demand for energy-efficient lighting solutions. Government initiatives promoting sustainability, the increasing adoption of smart lighting systems, and the advantages of LED technology are also driving market growth. Moreover, the demand for commercial lighting solutions is rising as businesses and industries seek to enhance the aesthetics and functionality of their spaces, creating opportunities for market players to innovate and expand their offerings.
Innovations in lighting technology, such as Internet of Things (IoT) integration, connected lighting systems, and human-centric lighting solutions, are expected to drive further growth in the commercial lighting market. Market players are focusing on research and development to introduce cutting-edge products that meet the evolving needs of customers and comply with energy efficiency regulations. Collaborations and partnerships within the industry are also enhancing competitiveness and enabling market players to leverage each other's strengths to deliver comprehensive lighting solutions to end-users across various sectors.
Overall, the global commercial lighting market is dynamic and competitive, with significant growth opportunities driven by**Segments**
- **Type:** The commercial lighting market is segmented into LEDs, CFLs, incandescent lights, and others, with LEDs expected to lead due to their energy efficiency and cost-effectiveness.
- **Application:** Commercial lighting is used in offices, hospitals, retail stores, industrial buildings, each requiring specific lighting solutions.
- **End-User:** Sectors like healthcare, education, hospitality, and retail have unique lighting requirements based on ambiance and energy efficiency.
**Market Players**
- Philips Lighting
- Osram GmbH
- General Electric Company
- Acuity Brands Inc.
The global commercial lighting market is witnessing remarkable growth due to urbanization, infrastructural development, and the adoption of energy-efficient lighting. Factors like government initiatives, smart lighting systems, and LED technology benefits drive market expansion. Companies like Philips, Osram, GE, and Acuity Brands offer innovative and sustainable lighting solutions, shaping the market landscape. The rising demand for commercial lighting to enhance aesthetics and functionality in spaces offers growth opportunities for market players.
Innovations like IoT integration and human-centric lighting solutions are expected to fuel market growth. Players focus on RD to introduce cutting-edge products meeting customer needs and energy regulations. Partnerships enhance competitiveness and enable comprehensive lighting solutions to end-users across sectors. The global commercial lighting market, segmented by offering, installation type, application, end-user, and country, offers growth opportunities and industry trends for forecasted expansion.
With hardware, software, and services as offerings, the
The report provides insights on the following points:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the Commercial Lighting Market.
- Product Development/Innovation: Detailed insights on the upcoming technologies, RD activities, and product launches in the market.
- Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market.
- Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies.
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Commercial Lighting Market.
Table of Content:
Section 01: Executive Summary
Section 02: Scope of The Report
Section 03: Research Methodology
Section 04: Introduction
Section 05: Market Landscape
Section 06: Market Sizing
Section 07: Five Forces Analysis
Section 08: Market Segmentation by Product
Section 09: Market Segmentation by Application
Section 10: Customer Landscape
Section 11: Market Segmentation by End-User
Section 12: Regional Landscape
Section 13: Decision Framework
Section 14: Drivers and Challenges
Section 15: Market Trends
Section 16: Competitive Landscape
Section 17: Company Profiles
Section 18: Appendix
The following are the regions covered in this report.
- North America [U.S., Canada, Mexico]
- Europe [Germany, UK, France, Italy, Rest of Europe]
- Asia-Pacific [China, India, Japan, South Korea, Southeast Asia, Australia, Rest of Asia Pacific]
- South America [Brazil, Argentina, Rest of Latin America]
- The Middle East Africa [GCC, North Africa, South Africa, Rest of the Middle East and Africa]
This study answers to the below key questions:
- What are the key factors driving the Commercial Lighting Market?
- What are the challenges to market growth?
- Who are the key players in the Commercial Lighting Market?
- What are the market opportunities and threats faced by the key players?
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