High-end Lighting Market Size, Share & Trends Report

High-end Lighting Market Size, Share & Trends Analysis Report By Light Source Type (LED, HID, Fluorescent Lights), By Application Type (Wired, Wireless), By Interior Design Type, By End User Type, And Segment Forecasts, 2018 - 2025

  • Published Date: Sep, 2017
  • Base Year for Estimate: 2016
  • Report ID: GVR-1-68038-610-3
  • Format: Electronic (PDF)
  • Historical Data: 2014 - 2015
  • Number of Pages: 139

Report Overview

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 market growth.

U.S. high-end lighting market

The demand for fluorescent high-end lights was highest in 2016, although the 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 the ban on incandescent and HID lights in many countries, their respective market share is witnessing a steep decline over the forecast period.

The wired segment accounted for maximum market share, whereas by 2025 wireless segment is projected to grow at a 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.

The residential application segment is anticipated to dominate the high-end product market owing to increased demand for the connected lighting system with high efficiency as compared to the commodity lighting. The 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 the 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 the 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 a steep fall in revenue by 2025.

Governments in various countries have already banned conventional light sources such as incandescent lights, halogen lights thus their market has already witnessed a 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 the 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 the 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.

Global high-end lighting market

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. 

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 the highest market share by 2025, owing to increasing demand for modern interior in the 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 the modern light source with traditional fixtures thus they offer a more classic look with better lighting. In 2016, the 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. The residential sector is the most prominent end-user segment, accounting for over 50% market share. The industrial segment, however, is expected to grow at high rate, specifically in Asia Pacific region, owing to the increasing number of industries and lighting standards in this market.

The commercial lighting segment is anticipated to grow at a CAGR of 6.4% over the forecast period owing to growth in the IT and retail sector. The requirement of lighting in each of these sectors is different, residential lighting requires a designer fixture and different lighting colors, whereas the 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 the fastest growth and is expected to witness a growth rate of 8.5% from 2017 to 2025.

Key Companies & Market Share Insights

The market is highly competitive and fairly concentrated, with the top four companies accounting for the 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 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 parameters for being competitive in this market, with frequent mergers and acquisitions being undertaken as an attempt to diversify product portfolio and gain market share.

High-end Lighting Market Report Scope

Report Attribute

Details

Market size value in 2020

USD 18.1 billion

Revenue forecast in 2025

USD 24.3 billion

Growth Rate

CAGR of 6.1% from 2017 to 2025

Base year for estimation

2016

Historical data

2014 - 2015

Forecast period

2017 - 2025

Quantitative units

Revenue in USD million/billion and CAGR from 2017 to 2025

Report coverage

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

Segments covered

Light source, application, interior design, end user, region

Regional scope

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

Country scope

U.S.; Canada; Mexico; U.K.; Germany; China; India; Japan; Brazil; South Africa

Key companies profiled

Signify Holding; Siteco GmBH; CREE; Inc. (IDEAL INDUSTRIES; INC.); Digital Lumens; Inc.

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Segments Covered in the Report

This report forecasts revenue growth at global, regional & country levels and provides an analysis of 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

      • The 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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