Global Architectural Lighting Market to Reach US$ 10.5 Billion by 2032, Propelled by the Rising Demand for LED Lighting Solutions

April 18, 2023 | Electronics and Semiconductors

The latest report by IMARC Group, titled “Architectural Lighting Market Report by Light Source (Fluorescent Lights, High Intensity Discharge (HID) Lights, Light Emitting Diode (LED) Lights, and Others), Lighting Type (Ambient, Task, Accent), Application (Wall Wash, Cove Lighting, Backlighting, and Others), End Use (Residential, Commercial, Industrial, and Others), and Region 2024-2032,” finds that the global architectural lighting market size reached US$ 6.7 Billion in 2023. Architectural lighting combines technology and art to improve the ambiance and atmosphere of any building or space. It highlights the functionality, aesthetics, and energy efficiency of any building with minimum energy consumption and a maximum effect of lighting. It also enhances the aesthetic appeal of space by striking a balance between lighting and architecture, mostly seen in retail locations and interior lighting, to attract more individuals and provide sufficient illumination for tasks such as reading, navigation, and writing. In addition, it offers security, reliability, cost-effectiveness, adjustable brightness, and a longer lifespan. As a result, architectural lighting is widely adopted in residential, education, commercial, hospitality, and industrial sectors.

Global Architectural Lighting Market Trends:

The market is primarily driven by the rising demand for light-emitting diode (LED) lighting solutions on account of low carbon footprint, less power consumption, flexibility, and cost-effectiveness. In addition, rapid urbanization and the escalating demand for attractive and energy-efficient lighting solutions are contributing to market growth. Moreover, various technological advancements, such as the launch of smart architectural lighting solutions incorporated with sensors for providing safe, high-performance, and energy-efficient control, represent another major growth-inducing factor. Besides this, the widespread adoption of architectural lighting in commercial buildings, residential complexes, and public spaces to light pathways and create an inviting, relaxing, safe, and secure atmosphere is providing a positive thrust to the market growth. Apart from this, the increasing investments in the construction of smart city infrastructures such as roadways, commercial buildings, and bridges are also accelerating the product adoption rate. Furthermore, the improving lifestyle, rising disposable incomes, easy availability of economically priced architectural lights, and mergers and acquisitions among key players are other factors creating a favorable market outlook. Looking forward, IMARC Group expects the market value to reach US$ 10.5 Billion by 2032, exhibiting a CAGR of 5% during the forecast period (2024-2032).

Market Summary:

Based on the light source, the market has been segregated into fluorescent lights, high-intensity discharge (HID) lights, light-emitting diode (LED) lights, and others.
On the basis of the lighting type, the market has been classified into ambient, task, and accent.
Based on the application, the market has been segmented into wall wash, cove lighting, backlighting, and others.
On the basis of the end use, the market has been categorized into commercial, residential, industrial, and others.
Region-wise, the market has been divided into North America (the United States and Canada), Europe (the United Kingdom, Germany, France, Italy, Spain, and others), Asia Pacific (China, Japan, India, Australia, Indonesia, South Korea, and others), Middle East and Africa (the United Arab Emirates, Saudi Arabia, Qatar, Iraq, and others), and Latin America (Brazil, Mexico, and others).
The competitive landscape of the industry has also been examined in the report, with some of the key players being Signify Holding B.V., OSRAM GmbH, Cree Lighting, The General Electric Company, Acuity Brands Lighting Inc., Seoul Semiconductor Co., Ltd., Samsung Electronics Co., Ltd. and Griven S.r.l.

Report Coverage:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Billion
Segment Coverage	Light Source, Lighting Type, Application, End Use, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, China, Japan, India, Australia, Indonesia, South Korea, United Arab Emirates, Saudi Arabia, Qatar, Iraq, Brazil, Mexico
Companies Covered	Signify Holding B.V., OSRAM GmbH, Cree Lighting, The General Electric Company, Acuity Brands Lighting Inc., Seoul Semiconductor Co., Ltd., Samsung Electronics Co., Ltd. and Griven S.r.l.
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 2499 Five User License: US$ 3499 Corporate License: US$ 4499
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Architectural Lighting Market to Reach US$ 10.5 Billion by 2032, Propelled by the Rising Demand for LED Lighting Solutions

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