High-End Lighting Market Report

High-End Lighting Market Analysis By Light Source Type (LED, HID, Fluorescent Lights), By Application Type (Wired, Wireless), By Interior Design Type, By End User Type, And Segment Forecasts, 2015 - 2025

Published: September 2017  |  139 Pages  |  Format: PDF  |  Report ID: GVR-1-68038-610-3

Industry Insights

The global high-end lighting market size was estimated at USD 14.43 billion in 2016. Increasing demand for connected lighting and interior designing is anticipated to be a key factor driving the industry growth. Increasing penetration of smartphones and internet connectivity is growing the demand for connected lighting systems, thus impacting the market growth.

The demand for fluorescent high-end lights was highest in 2016, although LED segment is expected to capture huge market share owing to its technological and economical advancements such as high efficiency and brightness level. Owing to ban on incandescent and HID lights in many countries, their respective market share is witnessing a steep decline over the forecast period.

U.S. high-end lighting market, by light source, 2014 - 2025 (USD Billion)

U.S. high-end lighting market

The wired segment accounted for maximum market share, whereas by 2025 wireless segment is projected to grow at higher growth rate. Rising demand for smart and connected homes which allows better user control of all in-house electronics from distant places is contributing to the demand for wireless lighting products.

The market for modern lighting segment is expected to gain traction over the forecast period, owing to increasing demand for smart homes and various smart city projects initiated by the government across the emerging economies.

Residential application segment is anticipated to dominate the high-end product market owing to increased demand for connected lighting system with high efficiency as compared to the commodity lighting. Industrial segment is projected to witness high-growth over the forecast period, increasing standards and regulations related to industrial lighting is boosting the industry growth.

Light Source Type Insights

The market can be segmented by light source into LED lamps, HID lamps, fluorescent lights and others. The LED lamps segment is anticipated to exhibit high growth in this particular market over forecast period. The segment accounted for USD 5.12 billion in 2016 and is projected to grow with a CAGR of 6.8% from 2017 to 2025. HID high-end lighting market is expected to witness steep fall in revenue by 2025.

Government in various countries have already banned conventional light sources such as incandescent lights, halogen lights thus their market has already witnessed significant loss in revenues. However, newer technologies such as OLED are gaining good market share as they offer many technological advancements over existing light sources. It is believed that OLEDs will soon replace whole LED and CFL market.

Application Insights

Based on application, the market can be segmented into wired and wireless type. Wired segment constitutes much larger share as compared to wireless segment as they are much costlier and require strong network connectivity for its operation their market size was low till 2016. But eventually the wireless segment is going to witness exponential growth owing to high technological penetration in developing countries.

Wireless lighting offers certain advantages over their wired counterparts such as they can be controlled remotely, they have smartphone application control support and can be dimmed/color changed as per user requirements.

Global high-end lighting market, by application, 2016 (%)

Global high-end lighting market

Interior Design Insights

Based on interior designs, the market is segregated into modern, traditional and transitional segments. Among these segments modern lighting is anticipated to gain highest market share by 2025, owing to increasing demand for modern interior in residential and commercial sector.

The demand for traditional lighting is expected to decrease over the forecast period, this type of lightings is a mixture of modern light source with traditional fixtures thus they offer more classic look with better lighting. In 2016, transitional high-end lighting segment accounted for over 40% market share globally.

End User Insights

The high-end lighting segment can be segmented based on end-users into commercial, residential, industrial and others. Residential sector is most prominent end-user segment, accounting for over 50% market share. Industrial segment however, is expected to grow at high rate, specifically in Asia Pacific region, owing to increasing number of industries and lighting standards in this market.

The commercial lighting segment is anticipated to grow at CAGR of 6.4% over the forecast period owing to growth in IT and retail sector. The requirement of lighting in each of this sector is different, a residential lighting requires a designer fixture and different lighting colors, whereas commercial sector requires more powerful and designer or non-designer lights as per requirement.

Regional Insights

Asia Pacific dominated the global market valued at USD 6.01 billion in 2016. The regional growth is mainly driven by the presence of major players, availability of cheaper labor, better infrastructure facilities for manufacturing, good economic condition and innovation of new Light Source.

Increasing demand for high-end lighting in developed countries mainly due to better infrastructure and higher disposable income is anticipated to drive the overall industry. Asia Pacific is projected to exhibit fastest growth and is expected to witness a growth rate of 8.5% from 2017 to 2025.

Competitive Insights

The high-end lighting market is highly competitive and fairly concentrated, with top four companies accounting for maximum share of the global revenue in 2016. Key players including Philips Lighting Holding B.V., OSRAM Licht AG, General Electric Company, CREE, Inc. and Digital Lumens, Inc. dominated the global high-end lighting market while accounting for over 58% of the total revenue share in 2016.

Innovative light source development and customized products are expected to be key parameter for being competitive in this market, with frequent mergers and acquisitions being undertaken as an attempt to diversify product portfolio and gain market share.

Report Scope

Attribute

Details

Base year for estimation

2016

Actual estimates/Historical data

2014 - 2015

Forecast period

2017 - 2025

Market representation                                                

Revenue in USD Billion and CAGR from 2017 to 2025

Regional scope

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Country scope

U.S., Canada, Germany, United Kingdom, China, India, Japan, Brazil, Mexico, South Africa.

Report coverage             

Revenue forecast, company share, competitive landscape, growth factors and trends

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Segments covered in the report

This report forecasts revenue growth at global, regional & country levels and provides an analysis on the industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, Grand View Research has segmented the global high-end lighting market on the basis of light source, application, interior design, end user and region:

  • Light Source Type Outlook (Revenue, USD Billion; 2015 - 2025)

    • LED Lamps

    • HID Lamps

    • Fluorescent lights

    • Others

  • Application Type Outlook (Revenue, USD Billion; 2015 - 2025)

    • Wired

    • Wireless

  • Interior Design Outlook (Revenue, USD Billion; 2015 - 2025)

    • Modern

    • Traditional

    • Transitional

  • End-User Outlook (Revenue, USD Billion; 2015 - 2025)

    • Commercial

    • Industrial

    • Residential

    • Others

  • Regional Outlook (Revenue, USD Billion, 2014 - 2025)

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • United Kingdom

    • Asia Pacific

      • China

      • India

      • Japan

    • Latin America

      • Brazil

      • Mexico

    • Middle East & Africa

      • South Africa

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