The Global Architectural Lighting Market was valued at USD 6,549 million in 2019 and is expected to reach USD 8,874.27 million by 2025, growing at a CAGR of 5.19% during the forecast period.
Safety is major issue in architectural spaces, and it is essential to admit the necessity for passable architectural lighting. Good architectural lighting also plays a central role to enhance the aesthetic look of the architectural space. Architectural lighting draws a person’s attention to the form of space, allowing the architecture to help its exact drive. Companies offer structural lighting answers based on accepted international and national standards. Currently, manufacturers are proposing smart architectural lighting solutions that provide safe and efficient on-demand lighting with the help of sensors that perceive people, and set the lighting strength to the essential levels, automatically. These architectural lighting solutions have integrated long-life LEDs that reduce the maintenance outlay and energy reduction largely. Aesthetics, function, and competence are the three key features that uphold an excellent balance between the architecture and the architectural lighting. A decrease in incomplete energy spending is one of the main factors pouring the global architectural lighting market growth. Energy ingesting is lowered significantly by mixing smart LED-based architectural lighting. Using architectural lighting as a service (LaaS) or circular architectural lighting, industries can cut back on their capital expenditure. Architectural lighting allows planned upkeep and outages, which helps reduce downtime and disturbance. Without altering the lighting fixtures, calmer re-zoning, and future structural proofing is made possible by architectural lighting. Companies offer architectural lighting solutions and facilities that comply with international and national safety standards, and energy and environmental regulations. Architectural lighting confirms a well-lit space that creates a safe environment and boosts the tenant’s morale. High quality LED-based architectural lighting features a low carbon footprint and minimizes the adverse impact on the environment. Such reasons are expected to propel the global architectural lighting market to greater heights. Though manufacturers offer their architectural lighting solutions combined with best specifications, strict and time-consuming safety and energy saving values do not permit the appropriate matching of the request and supply. This issue is foreseeable to test the development of the global architectural lighting market. Also, fixing and customization services offered by architectural lighting solution manufacturers can be costly, and this factor is projected to delay the growth of the global architectural lighting market.
Increasing advances in lighting technology
Growing advances in lighting technology are one of the main issues that promise the request for architectural lighting. The increasing number of organizations and rising urban landscape are the main issues that affect the development of the architectural lighting market. Moreover, growing mindfulness of green technology is one of the critical drivers for architectural lighting. Since manufacturers are concentrating on energy-efficient and ecologically friendly decorative lights, this has been one of the primary growths in the lighting industry.
Increasing government initiatives
Government initiatives such as smart city projects and infrastructure growth projects by many local governments also inspire the request for architectural lighting. The surge in the number of housing and commercial buildings has led to an increase in the request for architectural lighting crosswise the sphere. Based on the lighting section type, the architectural lighting market is classified in accent, ambient, and task lighting. The accent lighting section dominates the market, as accent lighting is a cost-effective and highly used commercial and residential segment such as homes, hotels, restaurants, hospitals, and other residential structures.
Global Architectural Lighting Market: Competitive Landscape
Some of the leading players operating in the Global Architectural Lighting Market are General Electric Company; Philips Lighting Holding B.V.; OSRAM GmbH; Feilo Sylvania; TCP International Holdings Ltd.; SeaGull Lighting; Orion Energy Systems Inc.; Acuity Brands Lighting, Inc.; W.W. Grainger, Inc.; and Cree, Inc., and other prominent players