According to IMARC Group latest report titled “Decorative Lighting Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on decorative lighting market size. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global decorative lighting market size reached US$ 40.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 50.0 Billion by 2028, exhibiting a growth rate (CAGR) of 3.5% during 2023-2028.
Decorative lighting, also called accent lighting, refers to an illumination source that emits faded or bright lights of several colors. It is manufactured by using incandescent, fluorescent, and light-emitting diodes (LED). Decorative lighting can easily be hardwired, plugged into an electrical socket, run-on battery or solar energy, etc. It is gaining extensive traction across the residential and commercial sectors to enhance the overall look and feel of the space. Presently, leading manufacturers are introducing decorative lighting in various shapes, unique designs, creative patterns, customization options, etc.
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Market Trends:
The growing consumer inclination towards modern interiors, on account of the improving living standards and the inflating income levels of individuals, is primarily augmenting the decorative lighting market. Furthermore, the increasing need for enhancing space efficiency, aesthetic appeal, and lighting effect of homes is positively influencing the global market. Apart from this, the widespread adoption of decorative lighting in restaurants, clubs, shopping malls, hotels, entertainment centers, etc., to improve the customer experience and create an inviting ambiance is acting as another significant growth-inducing factor. Moreover, extensive investments by numerous key market players for introducing ceiling fans with light kits and sensor-based decorative lighting to expand their product portfolio and gain a competitive edge are also bolstering the market growth. Besides this, the development of advanced decorative lighting fixtures that can be controlled by using mobile devices and remote sensors is further catalyzing the global market. Additionally, the rising popularity of LED-sourced lights and the launch of favorable initiatives by government bodies for infrastructure projects are expected to fuel the decorative lighting market in the coming years.
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Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- Acuity Brands Inc.
- Bridgelux Inc
- Crest LED Lighting
- Fagerhults Belysning AB
- General Electric Company
- Honeywell International Inc.
- Hubbell Incorporated
- Ideal Industries Inc.
- Maxim Lighting
- Nichia Corporation
- Osram Licht AG (ams AG)
- Signify Holding
Decorative Lighting Market Segmentation:
Our report has categorized the market based on region, product type, light source, distribution channel and end user.
Breakup by Product Type:
- Chandelier
- Pendant
- Sconce
- Flush Mount
- Ceiling Mount
- Wall Mount
- Others
Breakup by Light Source:
- LED
- Fluorescent
- Incandescent
- Others
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Specialty Stores
- Online Stores
- Others
Breakup by End User:
- Commercial
- Household
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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