High-end lightings are characterized by high performance, intensity, and efficiency. They are widely used in industrial, commercial, and residential applications and can be fitted through wired or wireless connections. Technological innovations in the field in the last few years have paved way for features such as color changing, dimmable, and sensor-enabled lightings.
Demand for LED Lights to Rise at Significant Pace through 2025
Some of the common types of high-end lightings are LED, HID, and fluorescent lights. LED lights are expected to account for a large share through 2025. Rising awareness regarding the economic and technological benefits of LED lights such high brightness and efficiency is escalating their sales. Growing popularity of smart and connected homes, which provide greater user control of all in-house electronics from distant locations, is also promoting the adoption of these lights.
LED manufacturers are focusing on technological advancements to develop innovative products, which will further rev up the adoption. To put this perspective, in January 2018, LEDvance launched a new series of LED-based replacement lamps that support Bluetooth mesh wireless systems. The product line includes A19 flex strips and lamps that are suitable for residential applications. LED lights are making inroads in the shares of conventional light sources such as HID lights, owing to the ban imposed by governments in several countries.
Market Insights
As per a study by Grand View Research Inc., the global high-end lighting market is anticipated to rise to USD 24.32 billion by 2025. Rising disposable income of people around the world is induced increased spending on interior designing, which in turn can help the market gain significant momentum. Moreover, surging demand for connected lighting is likely to propel the market. Proliferation of smartphones and improving internet connectivity are supporting the concept of connected lighting.
Asia Pacific is expected to remain at the forefront of the market throughout the forecast period (2017 to 2025). The growth of the market can be attributed to improving infrastructure facilities for manufacturing. Some of the prominent players in the market are CREE, Inc.; Philips Lighting Holding B.V.; General Electric Company; Digital Lumens, Inc.; and OSRAM Licht AG.
Read more at: https://www.grandviewresearch.com/industry-analysis/high-end-lighting-market
Read more at: https://www.grandviewresearch.com/industry-analysis/high-end-lighting-market
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