The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

 

The interior lighting market has experienced robust growth, driven by advancements in technology, urbanization, and increasing demand for energy-efficient solutions.

 

Market Size and Growth

• 2023 to 2024 Growth: The market expanded from $72.94 billion in 2023 to $77.37 billion in 2024, at a CAGR of 6.1%.
• Forecast to 2028: It is projected to reach $98.41 billion by 2028, growing at a CAGR of 6.2%.

 

Drivers of Growth

• Historic Period: Urbanization and development infrastructure, energy-efficient lighting systems, supportive government regulations, smart lighting systems, and the rise of e-commerce and online distribution channels.
• Forecast Period: Shift towards home improvement and redesign, adoption of smart home technologies, demand for energy efficiency, integration of smart home and IoT, and use of decorative lamps in the residential sector.

 

Key Trends Shaping the Market

Advanced Lighting Technologies

• Smart Lighting Innovations: Development of smart lighting systems that can be controlled remotely and programmed for efficiency.
• Energy Efficiency and Sustainability: Emphasis on reducing energy consumption and promoting sustainable lighting solutions.
• Circadian Lighting: Lighting is designed to support the human body’s natural rhythms, enhancing well-being and productivity.

 

Read The Full Interior Lighting Market Report Here:

https://www.thebusinessresearchcompany.com/report/interior-lighting-global-market-report

 

Smart Home Integration Propels Market Growth

Role of Smart Homes

• Increasing Adoption: More homes are being equipped with internet-connected devices for remote control and automation of systems like lighting, heating, and security.
• Driving Factors: Rising disposable incomes, greater access to technology, and demand for convenience and energy efficiency.

 

Market Impact

• Survey Insight: In May 2021, a survey by National Public Radio found nearly 60 million Americans own a smart speaker, with 29% owning more than one, highlighting the convenience and utility of smart devices.

 

Major Players in the Market

Leading Companies

• Technology Giants: Samsung Electronics Co. Ltd., Panasonic Corporation, Eaton Corporation Plc, Koninklijke Philips N.V., Stanley Black & Decker Inc.
• Innovative Solutions: Signify Holding B.V., Osram Licht AG, Hubbell Inc., Acuity Brands Inc., Hafele Gmbh & Co.

 

Innovative Solutions Transforming Home Environments

Focus on Ambient Lighting

• Product Development: Companies are developing innovative products like ambient lighting to enhance living spaces and entertainment experiences.
• Example: In June 2022, Topaz Lighting Corp. launched customizable RGB ambient lighting for home decor, featuring 16 million+ colors and dynamic effects that sync with music, games, and movies.

 

Strategic Acquisitions

GE Current and Hubbell

• Acquisition Details: In February 2022, GE Current acquired Hubbell’s commercial and industrial lighting business, expanding its product portfolio and enhancing its market presence.

 

Market Segmentation

By Type

• General Lighting
• Ambient Lighting
• Task Lighting
• Mood Lighting
• Accent Lighting

By Lighting Effect

• Downlighting
• Uplighting
• Wall Washing
• Wall Grazing
• Spotlighting
• Perimeter Lighting
• Other Lighting Effects

By End Use

• Residential
• Commercial
• Other End-Uses

 

Regional Insights

• Asia-Pacific: The largest region in the interior lighting market in 2023, reflecting rapid urbanization and increasing adoption of smart home technologies.

The interior lighting market is set for continued growth, driven by technological advancements and the rising demand for smart, energy-efficient, and aesthetically pleasing lighting solutions. As the market evolves, innovations in smart lighting, circadian lighting, and integration with IoT will play a pivotal role in shaping the future of interior lighting.

Get A Free Sample On The Global Interior Lighting Market Report:
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The Interior Lighting Global Market Report 2024  provides an overview of the interior lighting market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The interior lighting market forecast analyzes interior lighting market size, interior lighting market share, leading competitor and their market positions.

 

The Table Of Content For The Interior Lighting Market Include:
1. Interior Lighting Market Executive Summary
2. Interior Lighting Market Segments
3. Interior Lighting Market Size And Interior Lighting Market Growth Rate
4. Key Interior Lighting Market Trends
5. Major Interior Lighting Market Drivers
……
25. Key Mergers And Acquisitions In The Interior Lighting Market
26. Top Interior Lighting Companies
27. Interior Lighting Market Opportunities And Strategies
28. Interior Lighting Market, Conclusions And Recommendations
29. Appendix

 

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