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APAC Designer Lighting Market Set to Grow at a CAGR of 6.2%, According to Latest Size and Share Study by Reports and Insights
Reports and Insights Business Research Pvt Ltd
The complex technology used to install these designer lights allow them to be more effective, long-lasting, and energy-efficient than the standard lighting system. These high-end lights can be managed using smartphones and remote devices.
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This report on the APAC designer lighting market aims to discuss market dynamics, including market drivers, potential threats and challenges to the market, APAC designer lighting market opportunities for the major players, APAC designer lighting market trends, market segmentation outlook, regional outlook, global APAC designer lighting market size, market share, as well as the major players operating in the APAC designer lighting market.
APAC Designer Lighting Market Dynamics
Government programs are promoting the use of LED designer smart lights due to the growth in smart cities, longer life spans, and improved energy efficiency. These are the elements causing the market to grow.
A lack of understanding of installation costs and payback periods may restrict the market growth.
A significant market potential will be created by government initiatives, the smart city goal, energy efficiency, and rural lighting.
The usage of artificial lighting in rural India has a considerable impact on how the locals live their everyday lives by enhancing safety, enabling them to work into dusk, and motivating them to take part in more social activities. Designer smart LED lights assist reduce carbon emissions in comparison to conventional lights, which will further help reduce pollution.
APAC Designer Lighting Trend and Regional Outlook
Geographically, the APAC designer lighting market extended to China, India, Japan, South Korea, Australia & New Zealand, ASEAN (Singapore, Malaysia, Indonesia, Thailand, Philippines, Vietnam Rest of ASEAN), and the Rest of Asia Pacific.
In the future years, India is expected to grow at a high CAGR. Major factors in this include the consistently declining costs of LED designer smart lights across the nation as well as helpful government initiatives like UJALA and SLNP, which offer LED designer smart lights at a reduced cost, and LED designer smart light installation projects for streetlights, respectively.
Due to customers' increased knowledge of the affordability and environmental friendliness of LED designer smart lighting, the demand for it is also anticipated to rise in the residential and commercial sectors. India recently demonstrated that it is possible to swiftly and widely install LED designer smart lights with the right finance and market structure.
The UJALA program, which offers LED designer smart light bulbs that are more energy-efficient than other lamps available, has made India one of the world's largest marketplaces for LED designer smart lighting.
The Indian government has created effective energy-efficiency programs in recent years with the goal of creating a market for energy services. The government's large-scale purchase of LED designer smart lighting has advanced the country's energy savings.
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APAC Designer Lighting Market Key Players
Some of the leading companies operating in the Asia Pacific designer lighting market include Cooper Industries (Eaton), Silver Spring Networks, OSRAM, Acuity Brands, Hubbell, Tvilight, Echelon, Legrand, GE Lighting, Honeywell, Bridgelux, Digital Lumens, Cree, Syska, Koninklijke Philips N.V. (Signify), Crompton, Halonix, Havells, Bajaj, Orient, and Philips Lighting amongst other.
Key Developments by the Key Players
Syska LED, a prominent supplier of LED lighting solutions, plans to release its Syska LED Recessed SMD Downlight in May 2022. (Glowslick-SSK-SLP). The innovative Syska LED Recessed SMD Downlight is the best indoor lighting solution because it can be used in retail stores, office buildings, homes, showrooms, and other indoor spaces.
Under the "T5 LED Batten" brand, Syska announced the launch of new LED lights in India for just Rs 449 and Rs 549. The LED designer smart lights from Syska T5 LED Batten (PC) and Syska T5 LED Batten (AL) are installed with 440V OVP and have 4KV surge protection.
APAC Designer Lighting Market Segmentation Outlook
Data for growth projections and estimates are included in this study for the Solution segment {Hardware (Bulbs, Custom Lights, Strips, Tubes, Lighting Controls (Dimmers, Drivers & Ballasts, Fixtures, Gateways, Sensors, Switches), Software Tools/Apps, Services (Consultation, Design & Integration, Lighting as a Service)}; Network Technology segment {Wired (DALI, Ethernet, Powerline), Wireless (6LoWPAN, BLE, ENOCEAN, Wi-Fi, Zigbee, Z-wave)}; Light Source segment {Compact Fluorescent Lamps, Fluorescent Lamps (FL), High-Intensity Discharge Lamps (HID), LED Lamps}; Installation Type segment { New Installation Types, Retrofit Installation Types}; and Application segment [Indoor {Commercial (Retail, Hospitality, Offices, Hospital), Residential, Industrial}; Outdoor {Architectural Lighting, Street Lighting, Public Infrastructure}]. The APAC designer lighting period is 2022 to 2030.
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Reports and Insights is one of the leading market research companies which offers syndicate and consulting research around the globe. At Reports and Insights we adhere to the client needs and regularly ponder to bring out more valuable and real outcomes for our customers. We are equipped with a strategically enhanced group of researchers and analysts that redefines and stabilizes the business polarity in different categorical dimensions of the market.
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