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 today's business environment, the adoption of adaptive lighting systems is gaining traction in both commercial and automotive sectors due to their enhanced safety and comfort benefits for drivers. These advanced systems, specifically designed for night driving and low-light conditions, improve visibility around curves and hills by adjusting the beam direction based on steering input. Contrastingly, traditional headlights illuminate the roadside rather than the road ahead when navigating curves, and their beams point upward when climbing hills, reducing visibility. By utilizing adaptive headlamps, a vehicle's desired path is optimally illuminated, ensuring a safer and more comfortable driving experience. 

Get more information on Lighting Market by requesting a sample report

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
  • Luminaires/Fixtures
  • Lamps
• Distribution Channel
  • Direct sales/Developers/Contract
  • Wholesalers/Electricians
  • Lighting Specialists
  • Others
  • Direct sales/Developers/Contract
  • Wholesalers/Electricians
  • Lighting Specialists
  • Others
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • North America
    • Canada
    • US
  • Middle East and Africa
  • South America

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

Benefits of Buying Global Lighting Market Research Report by Technavio

Rich Experience: 20+ years leading global market research, trusted insights across industries.

Unlock Business Potential with Technavio: Maximize ROI with Technavio's tailored market research: deep dives and actionable insights.

Your Guide to Market Success: Empower your business with Technavio's market research and future-proof your decisions.

Market Scope in Lighting Market Research Report

Request Free Sample

Find out which segment is leading the market by accessing the free PDF report

Research Analysis Overview

In the dynamic lighting market, key factors include luminaire efficiency, optimal light distribution, minimizing glare, maintaining illuminance levels, and ensuring lighting uniformity. Other considerations are reducing light trespass and light spill through simulations and software. Human-centric lighting, circadian rhythm, aesthetics, ambiance, and mood are essential for user comfort. Trends include smart home integration, remote management, data analytics, energy audits, retrofits, upgrades, commissioning, and maintenance contracts. LED driver technology, power supply efficiency, fixture design, materials, safety, compliance, regulations, and standards are crucial for high-performing, energy-efficient lighting solutions.

Market Research Overview

The lighting market is a significant segment within the expansive electrical components and equipment industry. This market encompasses the manufacturing and supply of LED lighting, smart lighting systems, lighting control systems, lighting fixtures, and various types of lighting, including ambient, task, and accent lighting. The parent market, the global electrical components and equipment industry, entails companies producing electrical cables and wires, electrical components, and electrical equipment. Technavio's market analysis includes the revenue generated by manufacturers of water heaters and accessories, motors, motor control, encoder and amplifier, automation solutions, electrical distribution and protection equipment, small generators, wire and cable accessories, power supplies and conditioners, sensors, meters and indicators, recorders and loggers, process safety systems, instrumentation, test and measurement equipment, switches, transmitters and receivers, HVAC, and safety components. Additionally, the market size considers the rental and leasing of 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
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/