According to IMARC Group’s latest report, titled “Architectural Lighting Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global market reached a strong growth in 2020. Architectural lighting focuses on three aspects of any area or building, namely functionality, aesthetics, and energy efficiency. It is a combination of technology and art that enhances the ambiance and experience of any building or space. The functionality aspect focuses on the illumination of the space to perform specific tasks, such as reading, writing, and navigation. The aesthetic aspect, on the other hand, focuses on providing a balance between the lighting and architecture. Whereas the energy efficiency aspect helps maximize the impact of lighting. As a result, architectural lighting is largely used across the retail, residential, commercial, hospitality, and industrial sectors.
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Architectural Lighting Market Trends:
The rapid advancements in lighting technology and the increasing demand for aesthetic lighting are prime factors creating a positive outlook for the market. The rising adoption of LED lights, which are more efficient and flexible in terms of power consumption and colors than conventional lights, is further accelerating the market growth. Additionally, the introduction of smart lighting and control systems with architectural lights is providing a considerable boost to the market growth. Looking forward, IMARC Group expects the global architectural lighting market to grow at a CAGR of 6.1% during the forecast period (2021-2026).
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape with Key Players:
- Signify Holding
- OSRAM GmbH
- Cree Lighting
- General Electric Company
- Acuity Brands Lighting Inc.
- Seoul Semiconductor Co.
- Ltd, Samsung
- Griven S.r.l.
Key Highlights of the Market Segmentation:
- Fluorescent Lights
- High Intensity Discharge (HID) Lights
- Light Emitting Diode (LED) Lights
- Wall Wash
- Cove Lighting
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)
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Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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