At what pace is the high end lighting market growing, and what is its estimated value?
The high end lighting market size has grown strongly in recent years. It will grow from $20.23 billion in 2024 to $21.81 billion in 2025 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to growing acceptance of cutting-edge and contemporary lighting solutions, urbanization, architectural trends, environmental awareness, economic growth.
The high end lighting market size is expected to see strong growth in the next few years. It will grow to $29.1 billion in 2029 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to smart home integration, consumer preference for customization, energy efficiency standards, sustainability focus, economic recovery and growth, growth in smart cities. Major trends in the forecast period include technological advancements, design innovations, technological innovation, increased adoption of smart lighting, customization and personalization.
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What are the key drivers behind the rapid expansion of the 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 such as 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 August 2024, according to the Coolest Gadgets, a US-based online platform that reports on the latest gadgets, in the U.S., the number of households using smart home devices is expected to rise from 63.43 million in 2023 to 93.59 million by 2027, with significant growth projected annually. Therefore, the increasing number of smart homes in developing countries will drive the high-end lighting market.
What is the segmentation for the high end lighting market?
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
Subsegments:
1) By Light-Emitting Diode Light: Standard Lights, Smart LED Lights, OLED (Organic LED) Lights, LED Bulbs, LED Fixtures
2) By High-Intensity Discharge Lamps: Metal Halide Lamps, High-Pressure Sodium Lamps, Mercury Vapor Lamps
3) By Compact Fluorescent Lamps: Standard CFLs, Dimmable CFLs, Plug-in CFLs, Spiral CFLs
4) By Fluorescent Lamps: Linear Fluorescent Lamps, U-Shaped Fluorescent Lamps, Circline Fluorescent Lamps
5) By Plug-In Fluorescent: 2-Pin Plug-In Fluorescent Lamps, 4-Pin Plug-In Fluorescent Lamps
6) By Other Types: Halogen Lamps, Incandescent Lamps, Xenon Lamps, Plasma Lamps, Gas Discharge Lamps
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Who are the most influential companies in the high end lighting market?
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
What are the most influential trends expected to drive the high end lighting market forward?
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.
What are the major regional insights for the high end lighting market, and which region holds the top position?
North America was the largest region in the high end lighting market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the high end lighting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The High End Lighting Market Report 2025 Offer?
The high end lighting market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
High-end lighting refers to premium, sophisticated solutions with superior design, advanced technology, and exceptional quality. These fixtures often feature innovative materials and customizable options and are typically designed by renowned designers or brands. High-end lighting enhances the aesthetic and functional aspects of upscale residential, commercial, and hospitality spaces.
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