Commercial Segment Will Dominate the Global Professional Luminaires Market Until 2020 by Contributing Close to 57% of the Market Share: Technavio

LONDON--()--According to the latest market study released by Technavio, the global professional luminaires market is expected to grow at a CAGR of close to 4% during the forecast period.

This research report titled ‘Global Professional Luminaires Market 2016-2020’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.

The global professional luminaires market, valued at USD 47.82 billion, is undergoing significant transformation. Enhanced energy efficiency of light-emitting diode (LED)-based luminaires backed by decreasing cost of LED light sources is a key trend causing considerable shift in consumer preference.

Anju Ajaykumar, a lead analyst at Technavio for research on tools and components, says, “Favorable government initiatives and growing popularity of connected lighting systems also offer extensive growth opportunities to vendors in the market. The cohesive nature of these trends is drastically altering the dynamics and economics of the market; this has led to the emergence of new opportunities that compel market players to implement innovative strategies across the entire value chain to gain a competitive advantage.”

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Based on end-user, the report categorizes the global professional luminaires market into four segments:

  • Commercial
  • Outdoor
  • Industrial
  • Architecture

Global commercial professional luminaires market

The commercial luminaires segment includes lighting systems used in shopping malls, hotels, office spaces, and retail markets. It also considers the lighting used in airports and harbors. This segment will grow throughout the forecast period. The linear fluorescent lamp (LFL) luminaires are primarily used for office-based applications. LFL will continue to be the major revenue contributor for office spaces during the forecast period. The retail market consists of many sub-segments, from the supermarket segment that comprises LFL and CFL light source luminaires to the clothing display lighting segment that mainly uses halogen and incandescent sources.

“China will be a major contributor to the commercial segment because of the upcoming airport and railway projects approved by the country’s National Development and Reform Commission,” says Anju.

Global outdoor professional luminaires market

The high-intensity discharge (HID) luminaires is the highest revenue contributor to the outdoor segment because of its high brightness and illumination capabilities. HID luminaire solutions will continue to be the largest revenue contributor throughout the forecast period. LED luminaires will also increase their market penetration during the forecast period because of increased adoption of LED luminaires for outdoor applications. Governments, local municipalities, and urban bodies carrying out the installation of new street lights, renovation of existing lighting systems, and retrofitting of lighting systems will aid in the growth of this segment.

Global industrial professional luminaires market

LFLs and HIDs are the major luminaire technologies employed in the industrial segment because of the requirement of high-intensity, brighter lights. Consumers prefer high illumination sources, which can only be delivered by HID, LFL, and halogen luminaires in this segment. In addition, the replacement of existing luminaire systems at the manufacturing facilities will be very low.

LED luminaires are widely used in industrial applications because of their low-power consumption and their property of minimum heat generation, which makes them a potential choice for industrial use. The transition from conventional lighting to LED lighting in Russia has also increased the demand for LEDs in the industrial sector.

Global architecture professional luminaires market

The extensive use of decorative luminaires in landscapes, statues, museums, historical monuments, functions, and signage have given rise to increased demand for architecture lighting. With rising popularity of urban landscape, there is a growing demand for villas and expensive residential complexes with architecture lighting. These lightings are used to highlight paintings, sculptures, and to enhance the overall aesthetic appeal of buildings.

The top vendors highlighted by Technavio’s research analysts in this report are:

  • Acuity Brands
  • GE Lighting
  • OSRAM
  • Panasonic
  • Philips

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

According to the latest market study released by Technavio, the global professional luminaires market is expected to grow at a CAGR of close to 4% during the forecast period.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com