According to the latest report by IMARC Group, titled “Architectural Lighting Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global architectural lighting market size reached US$ 7.25 Billion in 2020. Architectural lighting is an amalgamation of art and technology used to enhance the aesthetics and improve the functionality and energy efficiency of a space. It provides numerous benefits, such as reliability, affordability, adjustable illumination, and a longer lifespan. It also offers safety from bright and direct lights, enhances the emotional impact of a space, illuminates spaces for night-time navigation and assists in performing tasks like writing and reading. As a result, it is gaining traction across the globe on account of maximum lighting impact and minimum energy consumption.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Architectural Lighting Market Trends:
At present, there is an increase in the adoption of LED-based architectural lighting solutions as they minimize maintenance expenditure and the overall impact on the environment. Apart from this, the leading players are introducing smart lighting solutions integrated with sensors to provide efficient and on-demand lighting. These lighting solutions provide high performance and the option to change the light intensity, which is positively influencing their sales worldwide. Furthermore, increasing investments in the construction of smart city infrastructures, such as roadways, buildings, and bridges, in confluence with the escalating demand for aesthetic lights is propelling the growth of the market. Looking forward, the market value is projected to reach US$ 10.34 Billion by 2026, expanding at a CAGR of 6.10% during the forecast period (2021-2026).
- Based on the light source, the market has been divided into fluorescent, high intensity discharge (HID), light emitting diode (LED) and other lights.
- On the basis of the lighting type, the market has been classified into ambient, task and accent light.
- 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 residential, commercial, industrial and other sectors.
- Region-wise, the market has been segregated 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 market has been examined, 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.
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