USD 38.65 billion
Report ID: SQSG25F2002 | Region: Global | Published Date: April, 2023 | Pages: 222 | Tables: 94 | Figures: 76
Decorative Lighting Market size was valued at USD 38.65 billion in 2021 and is poised to grow from USD 40 billion in 2022 to USD 54.52 billion by 2030, growing at a CAGR of 3.5% in the forecast period (2023-2030).
The increasing recognition of the role of the illuminating medium in establishing the ambiance of the room is expected to increase the utility of various decorative. The room's radiance influences perceived size by creating a visually dynamic space. In addition, proper lighting with the right fixtures aids in inducing a visual appeal to the room. Decorative lighting fixtures are seen as a seamless combination of functionality and style in modern décor. When modern décor is strategically chosen to complement the floor, furniture, and wall color, it creates a warm, inviting, and functional space.
US Decorative Lighting Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 38.65 billion
To get more reports on the above market click here to Buy The Report
The Global Decorative Lighting Market is segmented on the basis of Product, Light Source, Application and Region. Based on Product, the market is segmented into Chandeliers, Sconce, Flush Mount, Pendant and Others. Based on Light Source, the market is segmented into LED, Fluorescent, Incandescent and Others. Based on Application, the market is segmented into Commercial and Household. Based on Region, the market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Decorative Lighting Market Analysis by Product
In 2021, Sconce led the market with a market share of more than 35%. The growth of the segment is attributed to its ability to provide accent, ambient, as well as decorative lighting. For example, it can be used to illuminate a dark hallway or to draw attention to a specially decorated wall. Depending on the buyer's preferences, models such as mid-century modern, contemporary, transitional, classic, traditional, luxury, crystal, rustic, antique, and vintage are available. These decorative lightings are available in the most basic designs, and their sole purpose is to illuminate the home.
Decorative Lighting Market Analysis by Application
In 2021, the commercial application segment held the largest share, exceeding 65%. In pubs, restaurants, hotels, malls, retail shops, libraries, and museums, lighting plays an important role in creating ambiance. Decorative lighting is being used to improve the customer experience in these establishments. Restaurants and pubs are important social gathering places for friends and families, so the decorative lighting should be warm and cheerful. Similarly, shopping malls have evolved from shopping destinations to gathering places for family and friends as well as entertainment venues. Decorative lighting is required to create a welcoming and engaging environment.
To get detailed analysis on other segments, Request For Sample Report
North America had the largest market in 2021, accounting for more than 35% of global revenue. The availability of electricity to every single household in the United States and Canada is critical to the adoption of innovative decorative lighting. According to the American Hotel & Lodging Association, there are over 55,000 hotel properties in the United States. Hotels use decorative lighting to create a rich experience that is expected to calm and soothe its residents. Growing population and rapid urbanization in developing countries such as China, India, and others are expected to make the Asia Pacific the fastest-growing market.
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Decorative Lighting Market Driver
Decorative Lighting Market Restraint
Speak to one of our ABIRAW analyst for your custom requirements before the purchase of this report
The decorative lighting market is highly competitive, with the existence of numerous major firms operating in both domestic and international markets. The industry's top players are embracing strategic collaboration initiatives to improve market share and profitability. Some of the major players in the market are Acuity Brands, Inc., Bridgelux, Inc., General Electric Co., Ideal Industries, Inc., Juno Lightings. LLC, AZZ, Inc., Fagerhult Group, Inc., Honeywell International, Inc., OSRAM Light AG, Signify NV among others.
Decorative Lighting Market Top Player’s Company Profiles
Decorative Lighting Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, with the advancement of technology and creative goods, the demand for decorative lighting has increased. Increased disposable income, rapid urbanization, trends and fashion changes, home decorating lighting systems and appealing light designs, product safety and ease of use all contribute to the growth of the decorative lighting market. However, widespread use, a lack of sensitivity among rural people, a significant risk of damage, and the use of traditional oil lamps or candles all impede market expansion.
|Market size value in 2021||USD 38.65 billion|
|Market size value in 2030||USD 40 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
Free report customization with purchase. Customization includes:-
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Decorative Lighting Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Decorative Lighting Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Decorative Lighting Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Decorative Lighting Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
"We have purchased recently a report from SkyQuest Technology, and we are happy to inform you that this report was so useful and practical for our team. Skyquest Team was very active and our queries were followed up completely.It was amazing. "
- Mr. Ali Zali, Commercial Director, ICIIC Iran.