LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global decorative lighting market is growing at a CAGR of more than 6% during the forecast period.
This research report titled ‘Global Decorative Lighting Market 2017-2021’ 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 demand for energy-efficient and reliable LED technology is a growth driver for the manufacturers who are now concentrating more on manufacturing LED decorative lighting products. Various LED decorative lighting products like LED lamps, LED pendant lights, and LED wall lights(sconces) are available in the market. Buyers are at present increasingly opting for premium decorative lights. The use of decorative lights in commercial areas is increasing because they help to create an attractive ambiance.
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Technavio’s consumer and retail research analysts categorize the global decorative lighting market into the following segments by product. They are:
- Ceiling lighting
- Wall lighting
- Indoor lamps
- Outdoor lighting
The top three product segments for the global decorative lighting market are discussed below:
Ceiling lighting
Ceiling lights are those lighting products that are hung from the ceiling. In 2016, this segment accounted for the highest revenue share of 38.59% in the global decorative lighting market.
According to Poonam Saini, a lead retail goods and services research analyst from Technavio, “Kitchen island lightings are majorly used for task lighting. These are ceiling lights, which are specifically used as decorative lighting. Kitchen island lightings are used in modern kitchens where task lighting is required. These island lightings are suspended from the ceiling. They are available in contemporary, transitional, and modern designs and patterns.”
Wall lighting
Wall lights are also known as sconces. Sconces are decorative lighting products, which are affixed to a wall and direct the light in upward and downward directions. These decorative lighting products are used for indoor and outdoor walls of homes, buildings, hotels, restaurants, cafés, bars, and other places. Wall lights can be of various styles like classic, transitional, vintage, industrial, rustic, contemporary, and modern.
“Sconces integrated with LED technology are available. These sconces can also be used in bathrooms. Candle, swing arm, armed sconces, flush mount, and wallchieres are types of sconces available in the market. Wall lights are majorly used in residential places and fixed according to the rooms where they will be used,” says Poonam.
Indoor lamps
Indoor lamps are mostly used for task lighting. However, these lamps are also used as decorative lighting products to enhance the aesthetic value of indoor and outdoor spaces. There are numerous styles of lamps, which are classy and attractive. Lamps can be of different types depending on the different tasks like table lamps, floor lamps, and desk lamps.
Advances in lighting technology have led people to use LED technology to save on their electricity bills. The adoption of LED technology in decorative lighting is growing with the increase in awareness among people and stringent government regulations.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Acuity Brands Lighting
- General Electric
- Generation Brands
- Koninklijke Philips
- Maxim Lighting
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