The goal of the most recent market intelligence report, "Global Commercial Lighting Market", is to provide the intended audience with essential details about the global keyword industry. Additionally, the report provides an assessment of the immediate and predictable impacts of the pandemic on the Commercial Lighting industry. Key drivers, constraints, opportunities, limitations, threats and micro and macroeconomic factors of the Commercial Lighting Market are all discussed in detail in the report. The current market situation and underlying growth prospects are discussed in detail in the report. An organized database of Commercial Lighting market dynamics is included in the report, helping market analysts estimate the growth rate of the global market over the forecast period. Accordingly, Emergen Research's report on the Commercial Lighting Market is an in-depth compilation of the most important aspects of the market, such as product offerings by key players, wide range of applications. of these products, key market segments, key competitors, company profile, pricing strategy, production capacity, revenue generation strategy, technological advancement, etc. The global economic landscape has been dramatically altered by the pandemic, disrupting the workings of the keyword market. Organizations have been forced to respond effectively to the rapidly changing business environment due to the severe global crisis.
The global commercial lighting market size reached USD 9.75 billion in 2021 and is expected to register a revenue CAGR of 21.4% during the forecast period, according to latest analysis by Emergen Research. Market revenue growth is attributed to the growing need for more energy-efficient lighting systems, rapid infrastructure development, and ongoing and upcoming smart city projects in developing countries. Smart lighting use in commercial and industrial applications has been steadily increasing in recent years, owing to a growing focus on energy conservation. The use of such energy-efficient LED lighting technology reduces maintenance expenses significantly as they use about half as much electricity as standard halogen, incandescent, and fluorescent lights. Furthermore, such commercial lighting emits no UV light and operates at a low voltage, as well as having a long lifespan, design flexibility, and durability. For instance, LEDs typically last 30,000–50,000 hours, depending on the fixture, compared to 1,000 hours for an incandescent bulb and 8,000 hours for a fluorescent lamp, respectively. As a result of LED luminaires extended life, they have minimal maintenance costs, which helps cut energy expenditure and bills, and is expected to drive revenue growth in the market between 2022 and 2030.
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The global Commercial Lighting market has been categorized on the basis of key geographical regions into North America, Asia Pacific, Europe, Latin America, and Middle East Africa. It evaluates the presence of the global Commercial Lighting market in the major regions with regards to market share, market size, revenue contribution, sales network and distribution channel, and other key elements.
Leading companies profiled in the report:
GE Current, A Daintree Company, Hubbell, Schneider Electric, ABB, Zumtobel Group, Acuity Brands Lighting Inc., Wipro Lighting, Siteco GmbH, Cree Lighting, WAC Lighting and Signify Holding
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On the basis of type, the market is segmented into
Light Type Outlook (Revenue, USD Billion; Volume, Thousand Units; 2019-2030)
- Incandescent
- Halogen
- LED
- Others
Installation Type Outlook (Revenue, USD Billion; Volume, Thousand Units; 2019-2030)
- New Installation
- Replacement Installation
- Retrofit Installation
Technology Type Outlook (Revenue, USD Billion; Volume, Thousand Units; 2019-2030)
- Wired
- Wireless
In addition, the analytical data are presented in a well-organized format in the form of charts, tables, graphs, figures, and diagrams in the report. This makes it easier for readers to comprehend the market scenario in a beneficial way. In addition, the report aims to provide a forward-looking perspective and an instructive conclusion to assist the reader in making profitable business decisions. The report concludes with a comprehensive SWOT and Porter's Five Forces analysis of the segments anticipated to dominate the market, regional bifurcation, estimated market size and share, and more.
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