Increased use of LED lighting in industrial and commercial applications and Investment in construction are the key market drivers enhancing market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
In the Commercial Lighting market, a prominent trend is the widespread adoption of smart lighting solutions. Businesses are increasingly integrating advanced technologies such as IoT (Internet of Things) to enhance energy efficiency and overall functionality. Smart lighting systems offer features like remote control, automated scheduling, and occupancy sensing, allowing businesses to optimize energy consumption and create more adaptive and comfortable work environments. The integration of sensors and data analytics further contributes to energy savings, making smart Commercial Lighting an evolving trend with a focus on sustainability and cost-effectiveness.This factordrives the market CAGR.
Additionally, another significant trend in the commercial lighting sector is the dominance of LED (light-emitting diode) technology. LEDs have become the preferred choice for businesses due to their energy efficiency, long lifespan, and decreasing costs. As sustainability goals become a priority for many organizations, the shift toward LED lighting is accelerating. Governments and environmental regulations promoting energy-efficient solutions also contribute to the widespread adoption of LEDs. This trend not only addresses environmental concerns but also provides businesses with long-term cost savings through reduced energy consumption and maintenance expenses.
Human-centric lighting design is gaining traction in the commercial sector, focusing on creating lighting environments that prioritize the well-being and productivity of occupants. This approach involves adjusting light intensity, color temperature, and distribution to mimic natural daylight throughout the day. Human-centric lighting aims to enhance team member comfort, reduce eye strain, and regulate circadian rhythms, positively impacting mood and concentration. As businesses recognize the influence of lighting on employee well-being and performance, the demand for human-centric lighting solutions is growing, leading to innovative designs that cater to both functional and human-centric aspects of commercial spaces. For instance, in July 2023, Zumtobel introduced two intelligent lighting technology systems and three new luminaires in its product portfolio. These cutting-edge solutions include the TRAMAO pendant luminaire for hotels and offices, which effectually absorbs sound and delivers the highest light quality, and the SLOTLIGHT infinity II light line family. Thus, driving the Commercial Lighting market revenue.
The Commercial Lighting market segmentation, based on Offering, includes Hardware, Software, and Services. The dominating offering category is services, holding a significant market share due to the essential role of service providers in offering support, consultation, and personalized solutions for immunomodulator therapy. Conversely, the fastest-growing offering category is software, which is experiencing rapid expansion as the integration of advanced software solutions becomes increasingly important in immunomodulator research, development, and treatment planning.
Figure1: Commercial Lighting Market, by Offering, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The Commercial Lighting market segmentation, based on Installation Type, includes New Installations, and Retrofit Installation. The dominating installation type category is new installations, holding a significant market share as there is a continuous demand for the integration of cutting-edge immunomodulator technologies into new healthcare facilities. Conversely, the fastest-growing installation type category is Retrofit Installation, which is experiencing rapid expansion due to the increasing focus on upgrading existing healthcare facilities with the latest immunomodulator technologies.
The Commercial Lighting market segmentation, based on Communication Technology, includes Wired and wireless. The dominating communication technology category is wired, holding a significant market share due to its established reliability and stability in transmitting critical data for immunomodulator treatments. Conversely, the fastest-growing communication technology category is wireless, which is experiencing rapid expansion as advancements in wireless technology provide increased flexibility and mobility in managing immunomodulator therapies.
The Commercial Lighting market segmentation, based on End-use Applications, includes Indoor and outdoor. The dominating end-use application category is indoor, holding a significant market share as immunomodulator therapies are predominantly administered within controlled indoor environments such as hospitals and clinics. Conversely, the fastest-growing end-use application category is outdoor, which is experiencing rapid expansion due to the emerging trend of decentralized healthcare delivery and the utilization of immunomodulators in outdoor settings.
By region, the study provides the market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Commercial Lighting market area will dominate this market, owing to technologically advanced infrastructure, particularly in the commercial sector, which will boost market growth in this region.
Further, the major countries studied in the market report are the US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure2: COMMERCIAL LIGHTING MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe's Commercial Lighting market accounts for the second-largest market share due to the stringent energy efficiency regulations, sustainable practices, and environmental awareness. Further, the German Commercial Lighting market held the largest market share, and the UK Commercial Lighting market was the fastest-growing market in the European region.
The Asia-Pacific Commercial Lighting Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to urbanization infrastructure development, and technological advancement. Moreover, China’s Commercial Lighting market held the largest market share, and the Indian Commercial Lighting market was the fastest-growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Commercial Lighting market grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Commercial lighting industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Commercial Lighting industry to benefit clients and increase the market sector. In recent years, the Commercial lighting industry has offered some of the most significant advantages to medicine. Major players in the Commercial Lighting market, including Acuity Brands Lighting Inc., Cree Lighting, Dialight, Digital Lumens Inc., Hubbell, LSI Industries Inc., LumiGrow, Panasonic Corporation, Siteco GmbH, Signify Holding., and others, are attempting to increase market demand by investing in research and development operations.
Dialight is known for providing high-performance LED lighting solutions designed for industrial, commercial, and hazardous environments. The company focuses on energy-efficient and durable lighting solutions tailored to meet the specific needs of industries such as manufacturing, oil and gas, mining, transportation, and more. Dialight's LED lighting products are often designed to withstand challenging conditions and offer long lifespans, contributing to cost savings and sustainability. In May 2023, Dialight announced the launch of its industry-leading 7-year warranty for Aviation Obstruction Lighting Solutions. This initiative highlighted the company’s commitment to both customer satisfaction and product quality in the LED lighting market.
Zumtobel Group operates as a leading player in the lighting industry, offering a comprehensive range of lighting products, systems, and services. The company focuses on creating lighting solutions that enhance the quality of life while prioritizing energy efficiency and sustainability. Zumtobel serves a diverse range of applications, including offices, education facilities, healthcare institutions, industrial complexes, and outdoor environments. The company's portfolio includes a variety of luminaires, control systems, and services designed to meet the specific needs of different sectors. In May 2023, Zumtobel launched the all-new high-accuracy positioning luminaires. These new luminaires are integrated with IoT for smart analyses in logistics, retail, and industrial applications.
April 2023: Cree Lighting unveiled the launch of its OSQ Series C mid-power LED Area and Flood luminaires. These solutions feature the groundbreaking NanoComfort Technology, delivering matchless efficiency, astonishing visual comfort, precise control, reduced wind load requirements, and ease of installation.
March 2021: Signify announced the launch of the first-in-India tailor-made 3D printed luminaires empowering a circular economy. The company also set up a design lab in Noida and a 3D printing facility in Vadodara.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 0.85 Billion |
| Market Size 2023 | USD 0.95 Billion |
| Market Size 2032 | USD 2.45 Billion |
| Compound Annual Growth Rate (CAGR) | 12.50% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Offering, Installation Type, Communication Technology, End-use Application and Region |
| Geographies Covered | North America, Europe, AsiaPacific, and the Rest of the World |
| Countries Covered | The US, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Acuity Brands Lighting Inc.; Cree Lighting; Dialight, Digital Lumens Inc.; Hubbell; LSI Industries Inc.; LumiGrow; Panasonic Corporation; Siteco GmbH; Signify Holding, and others. |
| Key Market Opportunities | ·        Increased use of LED lighting in industrial |
| Key Market Dynamics | ·        commercial applications and Investment in the construction |
Frequently Asked Questions (FAQ) :
The Commercial Lighting market size was valued at USD 0.85 Billion in 2022.
The global market is projected to grow at a CAGR of 12.50% during the forecast period, 2024-2032.
North America had the largest share in the global market
The key players in the market areAcuity Brands Lighting Inc., Cree Lighting, Dialight, Digital Lumens Inc., Hubbell, LSI Industries Inc.,LumiGrow, Panasonic Corporation,Siteco GmbH, Signify Holding, and others.
The Services category dominated the market in 2022.
The New Installations had the largest share in the global market.
Leading companies partner with us for data-driven Insights.
Kindly complete the form below to receive a free sample of this Report
Research Analyst Level II With a technical background in information technology & semiconductors, shubham has 4.5+ years of experience in market research and analytics with the tasks of data mining, analysis, and project execution. he is the poc for our clients, for their consulting projects running under the ict/semiconductor domain. shubham holds a bachelor’s in information and technology and a master of business administration (mba). shubham has executed over 150 research projects for our clients under the brand name market research future in the last 2 years. his core skill is building the research respondent relation for gathering the primary information from industry and market estimation for niche markets. he is having expertise in conducting secondary & primary research, market estimations, market projections, competitive analysis, analysing current market trends and market dynamics, deep-dive analysis on market scenarios, consumer behaviour, technological impact analysis, consulting, analytics, etc. he has worked on fortune 500 companies' syndicate and consulting projects along with several government projects. he has worked on the projects of top tech brands such as ibm, google, microsoft, aws, meta, oracle, cisco systems, samsung, accenture, vmware, schneider electric, dell, hp, ericsson, and so many others. he has worked on metaverse, web 3.0, zero-trust security, cyber-security, blockchain, quantum computing, robotics, 5g technology, high-performance computing, data centers, ai, automation, it equipment, sensors, semiconductors, consumer electronics and so many tech domain projects.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
