Market Size of Intelligent Lighting Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.40 % |
| Fastest Growing Market | North America |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Intelligent Lighting Market Analysis
The intelligent lighting market is expected to grow at a CAGR of 5.40% over the forecast period (2021 - 2026). The intelligent lightings are generally referred to automated lightings used in event stages to provide extraordinary complex effects. The products are designed with intelligent programs which reduces the role of lighting operator, hence getting more emphasis on products itself.
- Significant rise in the investments for the entertainment and sporting events including musical concerts, stage shows is one of the significant factor driving the intelligent lighting market. According to the Citi Research, The United States and European countries have witnessed a significant growth in the live events. The Europe region registered over 12% increase in its live concerts and festivals in 2018.
- Additionally, the night clubs are extensively adopting intelligent lightings for offering enhanced lighting effects. Recently, one of the popular night club in Belgium partnered with Martin Harman to install lighting fixtures to support a full schedule of weekly dance parties and DJ sets after rennovation. It installed 24 RUSH MH 10 Beam FX fixtures, which is a compact 60W moving head fixture.
- However, the high cost of the fixtures is somewhere limiting the event organizers to go for rental services rather than adopting them. This is one of the factor restricting the intelligent lighting market growth.
