London, 15 September 2015: Technavio, the independent tech-focused global research firm, has published a report on the global luminaire market 2015-2019, which is expected to grow at a CAGR of 2.07% during the forecast period 2014-2019.
“Architectural lighting is used to emphasize the important features of a building or a setting. They could be floor luminaires, outdoor floodlights, or decorative lamps of different shapes and sizes,” says Faisal Ghaus, Vice President of Technavio.
“Philips has introduced a range of lighting known as Hue, which can connect with Nest Thermostat, a motion sensor that can sense the presence of a person and switch on lights.”
Key Market Drivers
- Increase in population and number of households in urban areas
- Upcoming sports events
- Forthcoming major infrastructure projects
- Increased demand from APAC
- Introduction of energy-efficient lighting technologies
Key Market Trends
- Rise in demand for architectural lighting fixtures
- Increase in demand for green lighting
- Cloud-based smart lighting
- Decline in manufacturing cost of LED
Key Market Vendors
- Acuity Brands
- Advanced Lighting Technologies
- Bajaj Electricals
- GE Lighting
- Koninklijke Philips
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
