Latest News- Decorative Lighting Market: Offline is expected to lead the Distribution Channel segment during 2024-2028

The Decorative Lighting Market is being driven by Evolving lighting product design concept leading to premiumization

The Decorative Lighting Market is expected to grow at a CAGR of 4.52% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 8651.1 million. In the Decorative Lighting Market, the integration of IoT in smart lighting systems is a significant trend. This innovation enables customers to control lighting products via mobile apps, catering to tech-savvy demographics. Vendors are capitalizing on this concept to stay competitive. Concurrently, the adoption of smart lighting is projected to align with the growth of LED technology. Notably, some players in the decorative lighting sector are prioritizing LED smart light production. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Distribution Channel
  • Offline
  • Online
• Product
  • Ceiling
  • Wall mounted
  • Others
• Geography
  • APAC
    • China
    • Japan
  • Europe
    • Germany
    • UK
  • North America
    • US
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Evolving lighting product design concept leading to premiumization
• Growing demand for energy-efficient decorative lighting products
• Development of smart cities

However, the market also witnesses some limitations, which are as follows:

• Perceived value gap of customers
• Uncertainty over US-China trade war
• High use of alternative lighting products

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Market Scope in Decorative Lighting Market Research Report

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Research Analysis Overview

The Decorative Lighting Market encompasses a wide range of lighting solutions, including ceiling lighting, sconce lightings, flush mount, and various designs such as pendants, string lights, tape lights, and wireless technology lamps. Producers offer energy-efficient decorative options, like LED decorative lighting, LED filament, and smart lighting systems, which not only enhance room ambiance but also contribute to modern décor and functionality. Materials for decorative lighting fixtures vary, with options in Carved wood, Bamboo, Glass, Ceramic, Fiber, and more. These fixtures play a significant role in home décor and furniture, complementing both Wall and Floor designs. Color and Design are essential considerations, with producers continually innovating to cater to diverse preferences and trends. In summary, the Decorative Lighting Market offers a vast array of options, from traditional incandescent decorative lighting to advanced LED and smart lighting systems. These lighting solutions cater to various design aesthetics and functional requirements, making them an essential element in creating the perfect room ambiance.

Market Research Overview

The decorative lighting market encompasses businesses involved in the production of ornamental lighting fixtures and accessories. Market size is determined by the consolidated revenue generated from the sales of chandeliers, wall sconces, table lamps, outdoor lighting, and related accessories. Additionally, rental and leasing of decorative lighting to industrial, commercial, and residential sectors are taken into account when estimating the market size.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/