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The Global Interior Lighting Market size is expected to reach $115.1 billion by 2030, rising at a market growth of 5.2% CAGR during the forecast period

ReportLinker
ReportLinker

The usage of decorative lamps in residential sector is increasing as people are becoming more focused on making their house more attractive, therefore, decorative lamps generated $6.5 billion revenue in the market in 2022.

New York, Aug. 29, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Interior Lighting Market Size, Share & Industry Trends Analysis Report By Lighting Effect, By Product, By Type, By End Use, By Regional Outlook and Forecast, 2023 - 2030" - https://www.reportlinker.com/p06487924/?utm_source=GNW
The utility of various ornamental items should increase as the importance of lighting in creating a room’s atmosphere becomes more widely acknowledged. By generating a visually interesting space, the room’s radiance affects how big it appears. Additionally, the ideal fixtures and proper lighting help to create a pleasing visual atmosphere in space. Modern décor views decorative lighting fixtures as a seamless fusion of design and practicality. A warm, welcoming, and useful environment is created when modern décor is thoughtfully picked to go with the furniture, floor, and wall color. Some of the factors impacting the market are the growing need for energy efficient lighting systems & supportive government regulations, rising usage of smart lighting systems, and security concerns with IoT smart lighting.

One of the key reasons for a rising need for various basic services, particularly power, is the growing residential and commercial construction that results from the growing population. On all fronts, the electricity demand has been steadily rising worldwide. Numerous countries cannot meet the enormous demand due to the steadily growing population. As an illustration, numerous governments worldwide are moving swiftly to phase out ineffective light sources via multiple efforts like performance requirements, labelling, and incentive schemes. Many electrical devices and gadgets, like LED watches, televisions, and mobile screens, also employ them. The powerful features of LED lights are their extended lifespan, ability to save money, and high efficiency. Residential use of smart lighting systems is increasing as they enable control over lighting products. Because they enable users to control the lighting components through apps downloaded to their mobile devices, smart lighting systems additionally incorporate the Internet of Things (IoT) notion. The market is anticipated to expand significantly as smart lighting gains more and more traction.

However, with cameras and sensors, connected lights constitute a network of LED fixtures. All data is stored in the cloud and can be viewed anywhere. It may be terrible if hackers take advantage of internet-connected smart lighting devices. To manage door unlocking, bright lighting, security camera systems, etc., a hacker can access a wireless network. A smart home’s system might be breached, allowing access to cameras and the ability to monitor and disable doors. Because of this, market expansion would be hampered.

Lighting Effect Outlook

By lighting effect, the market is segmented into downlighting, uplighting, wall washing & wall grazing, spotlighting, perimeter lighting, and others. The perimeter lighting segment procured a promising growth rate in the market in 2022. As they increase visibility & safety around the helideck, perimeter lights are a crucial component of helideck lighting. These lights, which are typically either LED or halogen bulbs, are installed on the helideck’s perimeter. They help pilots recognize the helideck’s boundaries while illuminating the area more brightly and consistently.

Products Outlook

Based on products, the market is bifurcated into ceiling Lights, chandeliers, pendant Lights, recessed & surface-mounted lights, wall Lights, decorative lamps, clamp lights, track Lights, spots & spotlights, and others. In 2022, the ceiling lights segment held the highest revenue share in the market. New types of ceiling lights’ cost savings and technological improvements are anticipated to drive the growth of the ceiling lights’ demand. Examples of different ceiling light kinds include LED, fluorescent, halogen, and CFL. Ceiling lights have many uses in residential and commercial structures, including workplaces, homes, showrooms, and other settings, fueling market expansion.

Type Outlook

By type, the market is categorized into general lighting, ambient lighting, task lighting, mood lighting, and accent lighting. The task lighting segment generated a significant revenue share in the market in 2022. These lights are typically created to give sharp, precise, and adaptable illumination to increase visibility, safety, and productivity under various working conditions. Work lights now include sophisticated capabilities like remote control, programmable brightness levels, and customizable color temperatures for different working environments. Due to increased demand from sectors like manufacturing, mining, construction, and the automotive industry, this market is expanding.

End Use Outlook

Based on end use, the market is fragmented into residential, commercial, and industrial. In 2022, the residential segment dominated the market with the maximum revenue share. Homes, apartments, condominiums, and other types of residential dwellings all employ residential lighting fixtures and systems. Numerous areas of a house, including bedrooms, living rooms, kitchens, hallways, and outside areas like patios or gardens, are lit by residential end-use lighting. The practical, aesthetic, and ambiance requirements of home spaces are met by these lighting fixtures, which are manufactured to order. These fixtures come in a range of shapes, sizes, hues, and lighting types (including incandescent, fluorescent, and LED) to satisfy homeowners’ different tastes and lighting requirements.

Regional Outlook

Region wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific region led the market by generating the maximum revenue share in 2022. The Asia-Pacific region is experiencing substantial expansion due to the widespread infrastructure-building initiatives in developing nations like China and India. The country’s growing urbanization and shifting population lifestyles have also expanded the use of LED lighting in the building and construction sectors. People with high standards have been lured to the compatible size and attractive appearance, which has led to a considerable increase in the usage of ambient lighting.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Lena Lighting S.A., Karice Lighting, Jaquar Group, WLS Lighting Systems, Inc, Wipro Lighting (Wipro Enterprises Private Limited), Trilux Gmbh, EST Lights, ERCO GmbH, Russell Lighting, and Kichler Lighting LLC (Masco Corporation).

Strategies Deployed in Interior Lighting Market

Nov-2022: Wipro Lighting partnered with Aura Air, an Israel-based air purifiers maker. The partnership enables the company to add indoor air quality management business to its portfolio.

Apr-2022: ERCO unveiled the next generation of Parscan Spotlights. The new generation includes three products Parscan InTrack, Parscan 48V, and Parscan OnTrack.

Mar-2022: Wipro Lighting revealed Aqua, a stylish range of designer office space luminaire solutions. The new solution offers a range of curved luminaires which encourage efficiency, uplift mood, and result in a happier and healthier workforce.

Jan-2022: TRILUX Switzerland took over Monolicht GmbH, a luminaire manufacturer. Through this acquisition, the company aimed to expand its capacities in the area of architectural lighting and excellent-quality special luminaire production.

Jun-2021: Wipro Lighting formed a partnership with Enlighted, the foremost supplier of Internet of Things (IoT) solutions for retail buildings to provide smarter workplaces. Together, the companies aimed to combine their technologies and solutions to produce smarter buildings across numerous consumer segments. Moreover, Enlighted IoT sensors are combined with Wipro’s smart luminaires, forming the spine for Wipro’s Smart Space Solutions.

Mar-2021: TRILUX entered into a partnership with Sonepar, a distributor of electrical products, solutions, and related services. With this partnership, the company would be able to expand its business opportunities in the ASEAN region.

Aug-2019: ERCO GmbH teamed up with Casambi, a developer of wireless lighting control systems. The collaboration aims at combining Casambi’s smart connectivity support with the company’s luminaires to create the perfect solution for modern offices.

Scope of the Study

Market Segments covered in the Report:

By Lighting Effect

• Downlighting

• Perimeter Lighting

• Wall Grazing & Wall Lighting

• Uplighting

• Spotlighting & Others

By Product

• Ceiling Lights

• Chandeliers

• Pendant Lights

• Recessed & Surface-Mounted Lights

• Wall Lights

• Decorative Lamps

• Clamp Lights

• Track Lights

• Spots & Spotlights

• Others

By Type

• Ambient Lighting

• Accent Lighting

• Task Lighting

• General Lighting

• Mood Lighting

By End Use

• Commercial

• Residential

• Industrial

By Geography

• North America

o US

o Canada

o Mexico

o Rest of North America

• Europe

o Germany

o UK

o France

o Russia

o Spain

o Italy

o Rest of Europe

• Asia Pacific

o China

o Japan

o India

o South Korea

o Singapore

o Malaysia

o Rest of Asia Pacific

• LAMEA

o Brazil

o Argentina

o UAE

o Saudi Arabia

o South Africa

o Nigeria

o Rest of LAMEA

Companies Profiled

• Lena Lighting S.A.

• Karice Lighting

• Jaquar Group

• WLS Lighting Systems, Inc

• Wipro Lighting (Wipro Enterprises Private Limited)

• Trilux Gmbh

• EST Lights

• ERCO GmbH

• Russell Lighting

• Kichler Lighting LLC (Masco Corporation)

Unique Offerings

• Exhaustive coverage

• Highest number of market tables and figures

• Subscription based model available

• Guaranteed best price

• Assured post sales research support with 10% customization free
Read the full report: https://www.reportlinker.com/p06487924/?utm_source=GNW

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