Global Professional Lighting Market 2024-2028
The professional lighting market is forecasted to grow by USD 29,825.54 mn during 2023-2028, accelerating at a CAGR of 6.75% during the forecast period. The report on the professional 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 urbanization and infrastructure development, government regulations and energy efficiency initiatives, and growing demand for architectural and decorative lighting.
Technavio's professional lighting market is segmented as below:
By Type
- LED lighting
- Conventional lighting
- Smart lighting
By Distribution Channel
- Offline channel
- Online channel
By Geography
- APAC
- North America
- Europe
- South America
- Middle East and Africa
This study identifies the technological advancements in professional lighting as one of the prime reasons driving the professional lighting market growth during the next few years. Also, growing focus on human-centric lighting solutions and integration of lighting systems with internet of things (IoT) technology will lead to sizable demand in the market.
The report on the professional lighting market covers the following areas:
- Professional lighting market sizing
- Professional lighting market forecast
- Professional 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 professional lighting market vendors that include Barco NV, CHAUVET Professional, Dialight Plc, Energizer Holdings Inc., Glamox Group, Havells India Ltd., Holectron, Hubbell Inc., Leedarson IoT Technology Inc., Lumega, MIDEA Group Co. Ltd., NVC Lighting Ltd., OPPLE Lighting Co. Ltd., Panasonic Holdings Corp., Samsung Electronics Co. Ltd., Signify NV, TCL Electronics Holdings Ltd., The Feilo Sylvania Group, Topstar Inc., Toshiba Corp., Wipro Ltd., Zumtobel Group AG, HUAYI Lighting Company Ltd., TRILUX GmbH and Co. KG, and US LED Ltd.. Also, the professional 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.