The ambient lighting market was valued at USD 51.39 billion in 2017, and is expected to reach USD 93.90 billion by 2023, recording a CAGR of 10.57%, during the forecast period (2018 - 2023). The report profiles the providers of ambient lighting products, for various end users.
The increasing adoption of smart lighting and modernization of infrastructure are contributing to the growth of the market. The increasing demand for automation and connected lighting is also boosting the ambient lighting market’s growth. Additionally, growing consumer preferences for better interior designing and increasing need for a soothing ambience for employees in the offices are augmenting the market’s growth. Moreover, ambient lighting is being increasingly used to provide consistent, uniform, and glare-free lighting, owing to the increasing focus on consumer satisfaction. These factors are anticipated to drive the ambient lighting market’s growth, over the forecast period. However, high cost involved in replacing the traditional lighting with ambient lighting is hampering the growth of the market.
Automotive Sector Expected to Witness the Highest Growth Rate
Ambient lighting in vehicles has become increasingly popular, in the automotive industry. Along with making the interior of a vehicle more appealing, ambient lighting ensures driver safety, as it makes the instruments and control panel effectively visible, especially at night and when the visibility is low. Since the past few years, it has been dominating the high-end luxury cars segment. The adoption and installation of ambient lighting in premium and mid-segment cars is on the rise, thereby fueling the growth of the overall market. Ambient lighting in automobiles highlights the door latches and thus, enables passengers to exit quickly. It also provides sufficient lighting for stationary and moving vehicles, by identifying an open door or for a passenger alighting from a car. The other application areas of ambient lighting in vehicles include - overhead consoles, headliner, glove box, and trunks or rear seats.
Asia-Pacific Expected to Witness the Highest Growth Rate
The Asia-Pacific region is anticipated to witness the highest CAGR over the forecast period of 2018-2023, owing to the rapid infrastructure building activities in the region. The use of light emitting diode (LED) products, to lower the energy usage and costs, is increasing in Asian-Pacific countries, such as India, China, and Japan, where until recently, energy-efficient lighting products were very expensive. Additionally, growing awareness about energy-efficient light sources and technologies and increasing standard of living are contributing to the growth of the market, in the region. The significant increase in vehicle production and sale in India and China are expected to drive the growth of the segment, in Asia-Pacific. The region is expected to witness the highest growth, due to the presence of the prominent luxury vehicle manufacturers in the region.
Key Developments in the Market
- May 2018: Eaton Corporation PLC demonstrated transformational possibilities of connected lighting for smart homes, communities, and buildings, at Lightfair International. The company intends to enhance everyday life, from personalizing smart homes solutions that cater to homeowners’ lifestyle needs and streamlining the facilities management and operations for businesses, worldwide.
- Feb 2018: Acuity Brands Inc. announced the acquisition of Lucid Design Group Inc., a California-based provider of building analytics. Lucid Technology will allow the company to extend the power of digital, building management, networked lighting, and IoT solutions.
Major Players: Signify NV, Hafele America Co., Acuity Brands Inc., Osram Licht AG, GE Lighting LLC, Cree, Inc., Wipro Consumer Care & Lighting Ltd, Eaton Corporation PLC, Hubbell Incorporated, Thorn Lighting Ltd, and Bridgelux Inc., among others.
Ambient Lighting Market Report Summary
Ambient Lighting Market
Market Size in 2017
USD 51.39 billion
Market Size in 2023
USD 93.90 billion
The Ambient Lighting Market report offers insights into the latest trends, growth prospects, industry competitiveness, major players, value/supply chains, regional market shares, and forecast until 2023.
Reasons to Purchase this Report
- Analysis of various perspectives of the market with the help of Porter’s five forces analysis
- The segments that are expected to dominate the market
- Regional analysis of the market during the forecast period
- Latest developments, market shares and strategies employed by the major market players and key innovators
- 3 months analyst support along with the Market Estimate sheet (in Excel)
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1.1 Key Deliverables of the Ambient Lighting Market Study
1.2 Ambient Lighting Market Definition
1.3 Ambient Lighting Market Study Assumptions
1.4 Key Findings of the Ambient Lighting Market Study
2. Research Methodology
3. Executive Summary
4. Ambient Lighting Market Insights
4.1 Ambient Lighting Market Overview
4.2 Industry Attractiveness – Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Consumers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitute Products or Services
4.2.5 Degree of Competition
4.3 Technology Roadmap
5. Ambient Lighting Market Dynamics
5.1 Factors Driving the Ambient Lighting Market
5.1.1 Increasing Need for Energy-efficient Lighting Solutions
5.1.2 Increasing Adoption of Smart Lighting
5.1.3 Modernization of Infrastructure
5.2 Factors Restraining the Ambient Lighting Market
5.2.1 High Costs Involved in Replacing Traditional Lighting with Ambient Lighting
6. Global Ambient Lighting Market Segmentation
6.1 Ambient Lighting Market By Type
6.1.1 Surface-mounted Light
6.1.2 Track Light
6.1.3 Strip Light
6.1.4 Suspended Light
6.1.5 Recessed Light
6.1.6 Other Types
6.2 Ambient Lighting Market By Offering
220.127.116.11 Lamps and Luminaires
18.104.22.168 Lighting Controls
6.2.2 Software and Services
6.3 Ambient Lighting Market By End User
6.3.3 Hospitality and Retail
6.3.6 Other End Users
6.4 Ambient Lighting Market By Region
6.4.1 North America
22.214.171.124 United States
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
184.108.40.206 Rest of Asia-Pacific
6.4.4 Rest of the World
220.127.116.11 Latin America
18.104.22.168 Middle East & Africa
7. Competitive Intelligence – Company Profiles of Ambient Lighting Market
7.1 Signify NV
7.2 Hafele America Co.
7.3 Acuity Brands Inc.
7.4 Osram Licht AG
7.5 GE Lighting LLC
7.6 Cree Inc.
7.7 Wipro Consumer Care & Lighting Ltd
7.8 Eaton Corporation PLC
7.9 Hubbell Incorporated
7.10 Thorn Lighting Ltd
7.11 Bridgelux Inc.
*List not Exhaustive
8. Investment Analysis of the Global Ambient Lighting Market
9. Future of the Global Ambient Lighting Market