High End Lighting Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033 | General Electric Company, LG Corporation, Panasonic Corporation, Honeywell International Inc., Eaton Corporation, Legrand Group, Signify NV, OSRAM GmbH, Hub

As per the report, the high end lighting market size has grown strongly in recent years. It will grow from $18.86 billion in 2023 to $20.23 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The high end lighting market size is expected to see strong growth in the next few years. It will grow to $27.10 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%.

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Increasing Smart Homes In Developing Countries Driving Growth Of High-End Lighting Market
The increasing number of smart homes in developing countries is expected to propel the growth of the high-end lighting market going forward. Smart homes refer to residences equipped with internet-connected devices that enable remote control and automation of systems like lighting, heating, security, and entertainment. The increasing number of smart homes in developing countries is driven by rising disposable incomes, greater access to technology, and a growing demand for convenience and energy efficiency. Smart devices use high-end lighting by enabling remote control, customization, and automation of lighting systems to enhance convenience, energy efficiency, and ambiance. For instance, in May 2021, according to a survey conducted by National Public Radio, a US-based non-profit media organization, a study of 1,292 people found that nearly 60 million Americans own a smart speaker, with 29% owning more than one. These devices, which provide news updates and set alarms via voice commands, exceeded expectations in convenience for nearly 60% of users and in usefulness for 52%. Therefore, the increasing number of smart homes in developing countries will drive the high-end lighting market.

Portable Lighting Solutions Elevating High-End Lighting In Smart Homes
Major companies operating in the high-end lighting market are adopting technologically advanced lighting solutions, such as portable lighting, to offer flexibility, convenience, and versatility for various indoor and outdoor settings. Portable lighting solutions enhance high-end lighting by providing flexibility, allowing users to quickly move and customize lighting setups for different spaces and activities while maintaining the same level of quality and sophistication. For instance, in June 2022, Signify Holding, the Netherlands-based lighting company, launched a range of hue smart lighting products with enhanced flexibility, control, and design options for smart home development. These products include the first fully customizable track lighting and the new smart switch. These products have advanced features such as portable rechargeable lamps and smart switches with sensors for light control, designed for indoor and outdoor use. This enhanced end-user experience improves smart home high-end lighting utility and enhances the customer experience while minimizing the cost of smart home setups.

The high end lighting market covered in this report is segmented -

1) By Type: Light-Emitting Diode Light, High-Intensity Discharge Lamps, Compact Fluorescent Lamps, Fluorescent Lamps, Plug-In Fluorescent, Other Types
2) By Interior Design: Modern, Traditional, Transitional
3) By Application: Wired, Wireless
4) By End User : Commercial, Industrial, Residential, Other End Users

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Major companies operating in the high end lighting market are General Electric Company, LG Corporation, Panasonic Corporation, Honeywell International Inc., Eaton Corporation, Legrand Group, Signify NV, OSRAM GmbH, Hubbell Incorporated, Acuity Brands Lighting Inc., Cree Inc., Lutron Electronics Co. Inc., Electronic Theatre Controls Inc., Kichler Lighting, Tech Lighting LLC, Maxim Lighting, Minka Group, Arteriors Build India Private Limited, Quoizel LLC, Hudson Valley Lighting Group International, Hammerton Inc., Visual Comfort & Co., Hinkley Lighting Inc., Crystorama Lighting, Feiss, Holtkötter Licht GmbH

Contents of the report:
1. Executive Summary
2. High End Lighting Market Report Structure
3. High End Lighting Market Trends And Strategies
4. High End Lighting Market - Macro Economic Scenario
5. High End Lighting Market Size And Growth
…..
27. High End Lighting Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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