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The Rise In Smart City Initiatives Is Fueling The Growth Of The Market Due To Increasing Demand For Energy-Efficient And Intelligent Lighting Solutions: Strengthening the Growth Trajectory of the Indoor Architectural Lighting Market
Indoor Architectural Lighting Market
What Is the Expected CAGR for the Indoor Architectural Lighting Market Through 2025?
The value of the indoor architectural lighting market has experienced robust growth over the past few years. The market size is predicted to increase from $20.93 billion in 2024 to $22.71 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 8.5%. The past growth of the sector can be linked to a hike in restoration initiatives taking place in the residential areas, a growing emphasis on maintaining sustainable indoor environments, an upsurge in the use of smart home appliances, rising preferences towards enhancing the ambiance with lighting and an increase in the fusion of lighting with interior design trends.
What's the Projected Size of the Global Indoor Architectural Lighting Market by 2029?
Strong expansion is projected for the indoor architectural lighting market in the upcoming years, with its size anticipated to reach $31.08 billion in 2029, growing at a compound annual growth rate (CAGR) of 8.2%. Factors contributing to this predicted growth during the forecast period are rising demand for intelligent lighting in commercial settings, increasing adoption of IoT-based lighting systems, growth in green building accreditations, amplified investment in infrastructural progress, and heightened focus on energy efficiency and sustainability. Key trends to look out for during this period include the enhancement of wireless lighting control systems, the evolution of tunable white lighting solutions, breakthroughs in human-centric lighting styles, the progress of AI-infused lighting automation, and the creation of modular and customizable lighting fittings.
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Top Growth Drivers in the Indoor Architectural Lighting Industry: What's Accelerating the Market?
The upward trend of smart city projects is predicted to boost the indoor architectural lighting market's expansion. Such projects encompass the incorporation of digital technology and intelligent structures to augment urban life's efficacy, sustainability, and quality. The surge of smart city projects corresponds with a global campaign for urban modernization that sees cities embracing cutting-edge technology to enhance resource handling and civic services. Indoor architectural lighting contributes to smart city objectives by utilizing energy-saving LEDs and intelligent sensors to reduce power consumption. This lighting harmoniously embeds with smart systems to regulate lighting depending on occupancy and daylight, thus encouraging eco-friendly city spaces. For example, the International Institute for Management Development, a business school based in Switzerland, reported in April 2023 that the global number of smart cities grew from 118 in 2021 to 141 in 2023. Consequently, the surge in smart city projects is stimulating the indoor architectural lighting market's growth.
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What Trends Will Shape the Indoor Architectural Lighting Market Through 2029 and Beyond?
Key businesses in the indoor architectural lighting sector are concentrating on creating innovative products like intelligent lighting systems to support energy conservation and sustain eco-friendly construction processes. These smart lighting systems utilize sensors, applications, or voice commands for automated and remote control of lighting, adjusting brightness, color, and schedules based on the environment or user preferences, thereby enhancing energy efficiency and user experience. For instance, in September 2024, an Indonesian company, Signify, known for its connected LED lighting solutions, introduced its WiZ tech in the Indonesian market. This technology offers products that easily integrate with smart home systems and are controllable via smartphones, voice commands, or a remote. The introduction of WiZ is Signify's effort to propel Indonesia's digitization and solidify its position in the market for connected lighting solutions. WiZ presents smart lighting products with the capability to generate 16 million different color options, varying from various shades of white to wide-ranging colors. The system underscores the simplicity of plug-and-play and straightforward controls, making it trouble-free for individuals seeking to customize their home settings and ambiances smoothly.
What Are the Main Segments in the Indoor Architectural Lighting Market?
The indoor architectural lighting market covered in this report is segmented -
1) By Product Type: Recessed Lighting, Surface-Mounted Lighting, Suspended Lighting, Track Lighting, Other Product Types
2) By Light Source: Light Emitting Diode (LED), Fluorescent, Incandescent, Other Light Sources
3) By Distribution Channel: Online Stores, Specialty Stores, Supermarkets Or Hypermarkets, Other Distribution Channels
4) By Application: Residential, Commercial, Industrial, Other Applications
Subsegments:
1) By Recessed Lighting: Light Emitting Diode (LED) Downlights, Adjustable Recessed Fixtures, Wall Washers, Fixed Recessed Lights, Shower Trim Lights
2) By Surface-Mounted Lighting: Ceiling-Mounted Fixtures, Wall-Mounted Fixtures, Light Emitting Diode (LED) Downlights Panels, Bulkhead Lights, Cove Lights
3) By Suspended Lighting: Linear Suspended Lights, Pendant Lights, Chandeliers, Ring Lights, Cluster Pendant Systems
4) By Track Lighting: Fixed Track Lights, Flexible Track Lights, Monorail Track Systems, Two-Circuit Track Systems, Track Pendant Lights
5) By Other Types: Spotlights, Accent Lighting, Under-Cabinet Lighting, Picture Lights, Step Lights
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Which Top Companies are Driving Growth in the Indoor Architectural Lighting Market?
Major companies operating in the indoor architectural lighting market are Panasonic Corporation, Toshiba Corporation, Eaton Corporation plc, Legrand, Signify N.V., OSRAM Licht AG, Hubbell Incorporated, Acuity Brands Inc., Havells India Ltd., Zumtobel Group AG, Opple Lighting Co. Ltd., Fagerhult, Lutron Electronics Co. Inc., Cree Inc., RAB Lighting Inc., Delta Light, NVC Lighting Technology Corporation, XAL, Current Lighting, ERCO Lighting
Which Regions Will Dominate the Indoor Architectural Lighting Market Through 2029?
Asia-Pacific was the largest region in the indoor architectural lighting market in 2024. The regions covered in the indoor architectural lighting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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