Global General Lighting Market 2024-2028

Global General Lighting Market 2024-2028

Technavio has been monitoring the general lighting market and is forecast to grow by USD 60.8 bn during 2023-2028, accelerating at a CAGR of 7.72% during the forecast period. Our report on the general lighting market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by declining manufacturing cost of LEDs, growing adoption of energy-efficient lighting technologies, and growing demand for LEDs from the automotive sector.

Technavio's general lighting market is segmented as below:

By Product

• LED lighting
• Traditional lighting

By Application

• Residential
• Commercial
• Outdoor
• Industrial
• Others

By Geographical Landscape

• APAC
• Europe
• North America
• Middle East and Africa
• South America

This study identifies the growing number of households and urbanization as one of the prime reasons driving the general lighting market growth during the next few years. Also, growing traction of intelligent lighting systems and growing guidelines and government policies for smart lighting will lead to sizable demand in the market.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on the general lighting market covers the following areas:

• General lighting market sizing
• General lighting market forecast
• General lighting market industry analysis

Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading general lighting market vendors that include Acuity Brands Inc., Advanced Lighting Technologies LLC, Bridgelux Inc., Citizen Watch Co. of America Inc., Cree Lighting, Delta Electronics Inc., Dialight Plc, Eaton Corp. Plc, General Electric Co., Hafele America Co., Hubbell Inc., Lumens Co. Ltd., OSRAM Licht AG, Panasonic Holdings Corp., Philips International BV, Schneider Electric SE, Selux AG, Signify NV, Wipro Ltd., and Zumtobel Group AG. Also, the general lighting market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.