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We expect the global high-end lighting market to exhibit a CAGR of around 6% during 2021-2026.
The rising popularity of smart residential spaces, along with the growing integration of advanced technologies such as Artificial Intelligence (AI) and the Internet of Things (IoT) to offer wireless lighting systems, is primarily catalyzing the global high-end lighting market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary closure of numerous manufacturing units for high-end lighting systems.
Based on the application, the global high-end lighting market can be categorized into wired and wireless. Currently, wired high-end lighting accounts for the majority of the global market share.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global high-end lighting market include Acuity Brands Inc., CREE Inc., Electronic Theatre Controls Inc., General Electric Company, Helestra Leuchten GmbH, Holtkötter Licht GmbH, Honeywell International Inc., Lutron Electronics Co. Inc., OSRAM Licht AG (ams AG), Signify N.V., and Toshiba Corporation.
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