Global Lighting Market 2024-2028

Global Lighting Market 2024-2028

The lighting market is forecasted to grow by USD 54.76 bn during 2023-2028, accelerating at a CAGR of 6.89% during the forecast period. The report on the 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 growing number of developments and lighting product launches, declining manufacturing cost of light-emitting diodes, and stringent regulations on road safety.

Technavio's lighting market is segmented as below:

By Application

• General lighting
• Automotive lighting
• Backlighting

By Type

• LED technology
• Traditional technology

By Geographical Landscape

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

This study identifies the advances in automotive lighting systems as one of the prime reasons driving the lighting market growth during the next few years. Also, growing traction of intelligent lighting systems and emergence of smart cities will lead to sizable demand in the market.

The report on the lighting market covers the following areas:

• Lighting market sizing
• Lighting market forecast
• Lighting market industry analysis

The 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 lighting market vendors that include Acuity Brands Inc., ams OSRAM AG, Bridgelux Inc., Dialight Plc, Digital Lumens Inc., Eaton Corp. Plc, Ennostar Inc., General Electric Co., GrowRay Lighting Technologies, Havells India Ltd., Hubbell Inc., IDEAL INDUSTRIES Inc., Koninklijke Philips N.V., LSI Industries Inc., Lumileds Holding BV, Panasonic Holdings Corp., Sharp Corp., SMART Global Holdings Inc., Syska Led Lights Pvt. Ltd., and Toyoda Gosei Co. Ltd.. Also, the 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.

The publisher 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. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.