The Decorative Lighting Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Decorative Lighting Global Market Report 2024, The decorative lighting market size has grown steadily in recent years. It will grow from $39.84 billion in 2023 to $41.54 billion in 2024 at a compound annual growth rate (CAGR) of 4.3%. The growth in the historic period can be attributed to urbanization and infrastructure development, hospitality and retail sector growth, consumer spending patterns, real estate development, aesthetic preferences, architectural and interior design.
The decorative lighting market size is expected to see steady growth in the next few years. It will grow to $49.04 billion in 2028 at a compound annual growth rate (CAGR) of 4.2%. The growth in the forecast period can be attributed to smart home integration, health and wellness considerations, rise of online retail channels, government initiatives for energy efficiency, popularity of open-concept living. Major trends in the forecast period include smart lighting integration, energy-efficient led technology, customization and personalization, vintage and retro styles, wireless and cordless designs, innovations in materials and finishes.
The growing remodeling and renovation activities are expected to propel the growth of the decorative lighting market. The remodeling and renovation refer to the changing in the structure of the layout and restoring something to a good condition. The COVID-19 pandemic saw an increase in remodeling of enclosed spaces like bedrooms and kitchens, caused by consumers working from home and social distancing. Decorative lighting plays a key role in modern renovation activities, it helps with bringing interest to a particular object or an area in a room. Different shades and colors of fixtures and fittings enhance and vary the perception of size and space available. For instance, according to the Leading Indicator of Remodeling Activity (LIRA) released by the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University, year-over-year gains in annual improvement and repair spending reached 9% in the fourth quarter of 2021 and will maintain that pace into 2022, with annual improvement and repair expenditures to reach $400 billion by the third quarter of 2022. Therefore, the growing remodeling and renovation activities will drive the growth of the decorative lighting market.
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The decorative lighting market covered in this report is segmented –
- Executive Summary
- Decorative Lighting Market Characteristics
- Decorative Lighting Market Trends And Strategies
- Decorative Lighting Market - Macro Economic Scenario
- Global Decorative Lighting Market Size and Growth
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- Global Decorative Lighting Market Competitive Benchmarking
- Global Decorative Lighting Market Competitive Dashboard
- Key Mergers And Acquisitions In Decorative Lighting Market
- Decorative Lighting Market Future Outlook and Potential Analysis
- Appendix
Top Major Players :
- The Home Depot Inc.
- General Electric Co.
- Lowe's Companies Inc.
- Honeywell International Inc.
- AB Electrolux
1) By Product: Ceiling, Wall-Mounted, Other Products
2) By Light Source: Light Emitting Diode (LED), Fluorescent, Incandescent, Other Light Sources
3) By Distribution Channel: Offline, Online
4) By End Use: Commercial, Household
Major companies operating in the decorative lighting market are launching new products such as smart lights to increase their profitability in the market. Smart lights in decorative lighting refers to the integration of intelligent lighting technology into decorative lighting fixtures. For instance, in November 2023, Laser, an Australia-based technology company launched AmbiColour decorative smart lighting as part of the Connect SmartHome lineup. The versatile RGB lighting options, including LED panels, Smart Light Bars, Hexagon Lights, Triangle Lights, and LED strips, offer a spectrum of colors for diverse atmospheres. These ambient color lights, designed for use with Google Home and Amazon Alexa, offer affordable and creative smart lighting solutions, enabling voice control and automation through the Connect SmartHome app to enhance living spaces. The Curtain Light strips provide versatile and affordable decor for homes and businesses, effortlessly adorning windows, walls, or garage doors. Smart lighting technology empowers users to effortlessly schedule and automate lighting for diverse occasions, from "entertainment moments" to "cozy evenings," enhancing their daily lives.
The decorative lighting market report table of contents includes:
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Decorative lighting refers to residential and consumer lighting fixtures, lamps (inclusive of any light (tubes or bulbs) that is integrated with the fixture or the lamp), and string lights, which are considered in this report.Global Decorative Lighting Market to grow at a CAGR of 7.01% during the period 2018-2022.Request sample copy of Industrial Internet of Things Market report at: http://orbisresearch.com/contacts/request-sample/2163962 The report covers the present scenario and the growth prospects of the global decorative lighting market for 2018-2022.
To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.The market is divided into the following segments based on geography: AmericasAPACEMEAGlobal Decorative Lighting Market 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts.
The report covers the market landscape and its growth prospects over the coming years.
The report also includes a discussion of the key vendors operating in this market.Read more details of the report at: http://orbisresearch.com/reports/index/global-decorative-lighting-market-2018-2022 Key vendors Acuity BrandsGeneration BrandsGeneral Electric CompanyMaxim LightingSignify HoldingMarket driver Growing demand for energy-efficient decorative lighting productsFor a full, detailed list, view our reportMarket challenge Perceived value gap of customersFor a full, detailed list, view our reportMarket trend Increasing use of smart lighting systemsFor a full, detailed list, view our reportKey questions answered in this report What will the market size be in 2022 and what will the growth rate be?What are the key market trends?What is driving this market?What are the challenges to market growth?Who are the key vendors in this market space?You can request one free hour of our analyst’s time when you purchase this market report.
Details are provided within the report.Companies Mentioned:Acuity Brands, Generation Brands, General Electric Company, Maxim Lighting, and Signify Holding.Enquire more details of the report at: http://orbisresearch.com/contact/purchase/2163962 About Us:Orbis Research (orbisresearch.com) is a single point aid for all your market research requirements.
We have vast database of reports from the leading publishers and authors across the globe.
Get FREE Sample Report Before Buying @ https://www.upmarketresearch.com/home/requested_sample/7475 UpMarketResearch offers a latest published report on “Global Decorative Lighting Market Analysis and Forecast 2018-2023” delivering key insights and providing a competitive advantage to clients through a detailed report.
Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
The numerical data is backed up by statistical tools such as SWOT analysis, BCG matrix, SCOT analysis, PESTLE analysis and so on.
The statistics are represented in graphical format for a clear understanding on facts and figures.
The generated report is firmly based on primary research, interviews with top executives, news sources and information insiders.
Region-wise Analysis Global Decorative Lighting Market covers:North AmericaEuropeChinaJapanIndiaSoutheast AsiaOther regions (Central & South America, Middle East & Africa) The Major players reported in the market include:Acuity BrandsGeneration BrandsGeneral Electric CompanyMaxim LightingSignify Holding For More Information, Please Visit https://www.upmarketresearch.com/home/enquiry_before_buying/7475 Global Decorative Lighting Market: Product Segment Analysis:Ceiling LightingWall Lighting Global Decorative Lighting Market: Application Segment Analysis:ResidentialCommercial The Report covers in-depth analysis as follows:Chapter 1 Industry Overview of Decorative LightingChapter 2 Manufacturing Cost Structure Analysis of Decorative LightingChapter 3 Technical Data and Manufacturing Plants Analysis of Decorative LightingChapter 4 Global Decorative Lighting Overall Market OverviewChapter 5 Decorative Lighting Regional Market AnalysisChapter 6 Global 2013-2018E Decorative Lighting Segment Market Analysis (by Type)Chapter 7 Global 2013-2018E Decorative Lighting Segment Market Analysis (by Application)Chapter 8 Major Manufacturers Analysis of Decorative LightingChapter 9 Development Trend of Analysis of Decorative Lighting MarketChapter 10 Decorative Lighting Marketing Type AnalysisChapter 11 Consumers Analysis of Decorative LightingChapter 12 Conclusion of the Global Decorative Lighting Market Professional Survey Report 2017 Buy Decorative Lighting Market analysis & forecast 2018-2023 Report along with complete TOC @ https://www.upmarketresearch.com/buy/decorative-lighting-market “Decorative Lighting Market Analysis and Forecast 2018-2023” report helps the clients to take business decisions and to understand strategies of major players in the industry.
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Traditional light fixtures are mainly just bulbs like incandescent, halogen, fluorescent, or even a new technology 'light diffuser,' which creates a shimmering and multi-colored light by using air instead of light.
Modern fixtures use a lot more electricity than their predecessors, despite having among of the lowest electricity prices per watt.In most homes, there are two types of lighting fixtures to choose from.
The first is for general illumination or task lighting, while the second is for accent or decorative lighting.
Because they can light up a large area, general-purpose lighting can be found in public spaces such as streets and parks, as well as in the kitchen.
Near the task area of the room, such as the counter or the sink, task lighting fixtures are frequently installed.
Typically, these light fixtures feature a shade that may be closed when not in use.
Rapidly increasing in popularity, LED lights are an excellent choice for many lighting applications.
Their low power consumption makes them ideal for use with battery-powered devices, and their durability makes them perfect for outdoor lighting.
Here are some benefits of using Led lights in home- LONG LIFESPAN- LED lights come with a longer life span and many other benefits over the traditional bulbs.
In fact, LED lights will save you money in the long run, even though they cost a bit more upfront.
NO HEAT OR UV EMMSION – LED lights use no heat or UV emmsion, but more brightness and safer than halogen lights.
It is universally applicable for indoor and outdoor lighting such as street lights, road signs, buildings, decorative lighting and so on.
