LIGHTING FIXTURES MARKET ANALYSIS

Lighting Fixtures Market, By Product Type (Indoor Lighting, Outdoor Lighting, Smart Lighting, Emergency & Exit Lighting, and Architectural Lighting), By Technology (LED, CFL, Incandescent Lighting, Halogen Lighting, and Fluorescent Lighting), By End User (Residential, Commercial, Industrial, Outdoor/Street, and Others), By Distribution Channel, (Direct Sales, Online Sales, and Retail Sales), By Geography (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa)

The lighting fixtures market is projected to grow significantly over the forecast years driven by growing popularity and adoption of smart lighting solutions and government support for the adoption energy-efficient lighting. Furthermore, with technological advancement in the industry, more and improved features are likely to be added to lighting solutions, further boosting their popularity.
A major hinderance to the market growth could be high upfront cost of LED or smart lighting systems, which may prevent people in the lower and middle-class from purchasing them.
The Asia Pacific region is expected to continue dominating the market, as China leads the manufacturing industry. Increasing urbanization in the region will also contribute to this lead. North America is expected to show the fastest growth, driven by technological advancements and the government’s focus on energy-efficient lighting.