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The ambient lighting market share is expected to increase to USD 27.14 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 8.86%.
This ambient lighting market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers ambient lighting market segmentation by product (lamps and luminaires, lighting controls, and surface-mounted lights) and geography (North America, Europe, APAC, Middle East and Africa, and South America). The ambient lighting market report also offers information on several market vendors, including Acuity Brands Inc., ams OSRAM AG, Bridgelux Inc., Corsair Gaming Inc., General Electric Co., IDEAL INDUSTRIES Inc., Nirvana Light, NZXT Inc., SCHOTT AG, SEAT SA, Sigma International Inc., Signify NV, STANLEY ELECTRIC Co. Ltd., Technical Consumer Products Inc., Toyoda Gosei Co. Ltd., VAIS Technology, VIBIA LIGHTING Ltd., and Zumtobel Group AG among others.
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The rapid urbanization and digitization is notably driving the ambient lighting market growth, although factors such as lack of common standards may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the ambient lighting industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Ambient Lighting Market Driver
Key Ambient Lighting Market Trend
Key Ambient Lighting Market Challenge
This ambient lighting market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global ambient lighting market as a part of the global electrical components and equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the ambient lighting market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the ambient lighting market encompasses successful business strategies deployed by the key vendors. The ambient lighting market is fragmented and the vendors are deploying growth strategies such as new product launches to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The ambient lighting market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the ambient lighting market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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36% of the market's growth will originate from North America during the forecast period. The US is the key market for ambient lighting in North America. Market growth in this region will be faster than the growth of the market in Middle East and Africa.
The high disposable income and awareness of interior decoration among end-users and the presence of a number of key ambient lighting vendors that manufacture and sell lighting controls, surface-mounted lights, lamps, and luminaries will facilitate the ambient lighting market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, the COVID-19 pandemic adversely affected the economies of various countries in North America. Governments of countries such as the US, Canada, and Mexico imposed stringent COVID-19-related restrictions, such as nationwide lockdowns and stay-at-home regulations, which resulted in the temporary closure of various industries, including those manufacturing ambient lighting products. However, the pandemic and related restrictions led to an increase in online sales. In 2021, the initiation of large-scale COVID-19 vaccination drives led to the lifting of lockdowns and the resumption of industrial operations, which, in turn, increased the demand for ambient lighting products in retail stores. Thus, such factors are expected to drive the growth of the regional ambient lighting market during the forecast period.
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The ambient lighting market share growth by the lamps & luminaries segment will be significant during the forecast period. New-generation lamps and luminaires that offer enhanced performance, higher accuracy and flexibility, and easy integration with existing lighting systems are driving the expansion of the market.
This report provides an accurate prediction of the contribution of all the segments to the growth of the ambient lighting market size and actionable market insights on post COVID-19 impact on each segment.
Luxury Car Ambient Lighting System market - The market share is expected to increase by USD 876.36 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 8.73%.
Automotive Lighting market - The market share is expected to increase by USD 12.98 bn from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 8.80%.
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Ambient Lighting Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 8.86% |
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Market growth 2022-2026 |
$ 27.14 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
8.06 |
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Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
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Performing market contribution |
North America at 36% |
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Key consumer countries |
US, China, Japan, UK, and Germany |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Acuity Brands Inc., ams OSRAM AG, Bridgelux Inc., Corsair Gaming Inc., General Electric Co., IDEAL INDUSTRIES Inc., Nirvana Light, NZXT Inc., SCHOTT AG, SEAT SA, Sigma International Inc., Signify NV, STANLEY ELECTRIC Co. Ltd., Technical Consumer Products Inc., Toyoda Gosei Co. Ltd., VAIS Technology, VIBIA LIGHTING Ltd., and Zumtobel Group AG |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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