General lighting: Key market research findings
- APAC dominates the market geographically
- The residential segment accounts for a majority of the market’s revenue
- Key vendors – GE, Koninklijke Philips, OSRAM, Panasonic, and Schneider
Technavio’s market research analysts predict the global general lighting market to grow at a CAGR of over 5% between 2016 and 2020. The introduction of energy-efficient lighting technologies is spurring an increase in the demand for general lighting solutions across the globe. As lighting consumes 20% of the global electricity production, the governments of many countries are focusing on promoting energy-efficient lighting technologies. In some countries, governments have banned the use of incandescent bulbs as a means to promote energy-efficient lighting technologies. This will, in turn, result in the higher adoption of other lighting technologies such as halogen, CFL, LFL, and LED. During 2015, the global market for general lighting was dominated by the APAC region with a market share of around 42%. The increasing demand from the commercial sector will contribute to the growth of the market in this region during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the general lighting segments based on the end-user.
“The market is currently witnessing an increase in the demand for architectural lighting fixtures. Architectural lighting is used to highlight the important features of a building or a setting. It includes floor luminaires, outdoor floodlights, and decorative lamps that come in different shapes and sizes. Philips has introduced its range of stylish lighting known as Hue, which can connect with the Nest thermostat to sense movement in the house to switch on the lights and connect to the fire alarm to detect smoke,” says Sunil Kumar Singh, Lead Analyst, Hardware & Semiconductor, Technavio Research.
Currently, the global general lighting market is dominated by the residential segment with a market share of around 39%. In 2015, the CFL, incandescent, and halogen lighting technologies accounted for the majority of the revenue generated from the residential segment. According to our analysts, the high adoption of energy-efficient lighting will increase the market share of LED lighting in the coming years. At present, China is the market leader in the residential lighting segment.
The key vendors in the market include GE, Koninklijke Philips, OSRAM, Panasonic, and Schneider. There has been a significant increase in the adoption rate of general lighting among end-users worldwide. As a result of this demand, the market saw the entry of many vendors that provide general lights at low costs. There is intense competition among the larger companies, which is leading to the introduction of many innovative and advanced solutions in the market. Additionally, these vendors also provide innovative solutions as part of their product portfolios.
A more detailed analysis is available in the Technavio report, Global General Lighting Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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