(MENAFN- iCrowdNewsWire) According to IMARC Group's latest report, titled“ Architectural Lighting Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026 ”, the global architectural lighting market reached a strong growth in 2020. Architectural lighting refers to the process of providing electric and daylight lighting in architectural and urban environments. This process offers various benefits, including affordability, reliability, longer lifespan and cost-efficiency. Architectural lighting primarily concentrates on the proper functionality, energy efficiency and aesthetics of an area. It is widely employed across various sectors, which include retail, hospitality, industrial, residential, education, and commercial.
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Rapid advancements in lighting technology and expansion in the urban landscape are among the primary factors driving the global architectural lighting market. Besides this, initiatives undertaken by governments of several nations, such as smart city development projects and renovation of existing infrastructures, are contributing to the market growth further. Moreover, the increasing establishment of residential and commercial buildings in urban areas is propelling the growth of the market. The advent of green technology across the globe has led to a rise in the adoption of environment-friendly and energy-efficient decorative lights, creating a positive outlook for the market. Looking forward, IMARC Group expects the global architectural lighting market to grow at a CAGR of 6.1% during the forecast period (2021-2026).
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape with Key Players :
- Signify Holding
- OSRAM GmbH
- Cree Lighting
- General Electric Company
- Acuity Brands Lighting Inc.
- Seoul Semiconductor Co.
- Ltd, Samsung
- Griven S.r.l.
Market Segmentation:
Breakup by Light Source:
- Fluorescent Lights
- High Intensity Discharge (HID) Lights
- Light Emitting Diode (LED) Lights
- Others
Breakup by Lighting Type:
Breakup by Application:
- Wall Wash
- Cove Lighting
- Backlighting
- Others
Breakup by End Use:
- Commercial
- Residential
- Industrial
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)
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Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Market Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC's information products include major market, scientific, economic and technological developments for business leaders in biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, and nanotechnology industries. We also provide cost model and manufacturing setup project reports through Syndicated Analytics, a subsidiary of IMARC Group.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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