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Specialty Lighting Market Trends

  • Report ID: GMI8145
  • Published Date: Feb 2024
  • Report Format: PDF

Specialty Lighting Market Trends

The growing demand for personalized and customizable lighting solutions is one of the market's driving forces. As customers and companies seek to create unique and immersive environments, there is a growing interest in lighting options that can be customized to specific preferences and needs. This trend is fueling industry innovations, with manufacturers creating a wide range of customizable fixtures, color options, and control systems to meet a variety of requirements. Technological advancements, such as smart lighting controls and programmable LED systems, allow for greater customization and flexibility in specialty lighting applications. Businesses in sectors, such as retail, hospitality, and entertainment, are particularly interested in these solutions for differentiating their spaces and providing memorable customer experiences. For instance, in February 2020, Ushio released a new 660nm red laser diode for sensing and biomedical applications. This series (HL65221DG) achieved the world's highest single-mode CW optical output power of 200mW.

The growing emphasis on sustainability and energy efficiency is propelling the demand for specialized lighting solutions that reduce environmental impacts while maintaining high performance and aesthetic appeal. Overall, the trend toward customization and sustainability is expected to fuel the industry growth.

Authors: Suraj Gujar, Sandeep Ugale

Frequently Asked Questions (FAQ) :

Market size for specialty lighting crossed USD 6 billion in 2023 and is expected to register over 7% CAGR from 2024 to 2032 owing to growing adoption of Light Emitting Diode (LED) technology and rising focus on aesthetics and design worldwide.

Specialty lighting industry from the wireless lighting segment is expected to register over 7.5% CAGR from 2024-2032 due to its ability in enabling users to control and adjust lighting settings remotely via smartphones, tablets, or centralized control systems.

North America market for specialty lighting recorded over 30% revenue share in 2023 and is expected to register a commendable CAGR from 2024-2032 due to the increased urbanization, technological advancements, and rising awareness of energy efficiency in the region.

Advanced Stage Lights, Advanced UV, Brandon Medical, Color Imagination LED Lighting, CREE (IDEAL INDUSTRIES, INC.), Crystal IS, Getinge AB, Herbert Waldmann, Integra Lifesciences, and OSRAM GmbH, are some of the major specialty lighting companies worldwide.

Specialty Lighting Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 16
  • Tables & Figures: 349
  • Countries covered: 22
  • Pages: 250
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