Latest News- Lighting Market: General lighting is expected to lead the Application segment during 2025-2029

The Lighting Market is being driven by Growing number of developments and lighting product launches

The Lighting Market is expected to grow at a CAGR of 7.4% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 62.8 billion. In the dynamic lighting market, the adoption of adaptive lighting systems is gaining traction in both commercial and automotive sectors. These advanced systems offer enhanced safety and comfort features for drivers, particularly in low-light conditions and at night. Unlike conventional headlights that illuminate the road straight ahead, adaptive headlamps adjust their beams based on steering input, ensuring the vehicle's intended path is illuminated. Furthermore, when climbing hills, adaptive headlamps prevent the beams from pointing upward, maintaining optimal visibility for the driver. These features significantly improve road safety and driving experience. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • General lighting
  • Automotive lighting
  • Backlighting
• Type
  • LED technology
  • Traditional technology
• Product
  • Luminaires/Fixtures
  • Lamps
• Distribution Channel
  • Direct sales/Developers/Contract
  • Wholesalers/Electricians
  • Lighting Specialists
  • Others
• End-User
  • Construction
  • Automotive
  • Hospitality
  • Retail
• Geography
  • APAC
    • China
    • India
    • Japan
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • North America
    • Canada
    • US
  • Middle East and Africa
    • Egypt
  • South America
    • Brazil
    • Argentina

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

• Growing number of developments and lighting product launches
• Declining manufacturing cost of light-emitting diodes
• Stringent regulations on road safety

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

• Sustainability issue in lighting industry
• Rapid changes and extensive requirements in LED lighting technology
• Limited thermal tolerance of LEDs installed in industrial facilities

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Market Scope in Lighting Market Research Report

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Research Analysis Overview

The lighting market encompasses various types of lighting, including ambient, task, accent, and decorative, each serving unique functions. Lighting effects and atmosphere are essential considerations, while light pollution, light trespass, and glare control are important for minimizing negative impacts. Energy efficiency is a key focus, with LED drivers and power consumption reduction. Lighting simulations and software solutions aid in project management, smart home integration, and building automation systems. Data analytics enable optimization of lighting performance and quality, while lifecycle costs, maintenance, and installation expenses are crucial factors. (51 words)

Market Research Overview

The lighting market is a significant segment of the larger global electrical components and equipment market. This market encompasses companies specializing in the production of led lighting, hid lighting, fluorescent lighting, incandescent lighting, halogen lighting, smart lighting, connected lighting, and lighting control systems. The electrical components and equipment market size is calculated based on the consolidated revenue generated by manufacturers of various electrical products, including water heaters and accessories, motors, automation solutions, electrical distribution and protection equipment, and lighting systems, among others. Additionally, the market includes revenues from renting and leasing electrical components and equipment to industrial, commercial, and residential clients.. 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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Website: www.technavio.com/