Jan 25, 2023   SOURCE: BusinessWire

The Worldwide Specialty Lighting Industry is Projected to Reach $7.8 Billion by 2027 at 6.6% CAGR - ResearchAndMarkets.com

The "Specialty Lighting Market by Light Source (Light-Emitting Diode, Halogen Lamps, Xenon Bulbs, Incandescent Lamps, Metal Halide Lamps), Application (Entertainment, Medical, UV Lamps) and Region (North America, Europe, APAC, RoW) - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

The specialty lighting market is projected to reach USD 7.8 billion by 2027 from USD 5.7 billion in 2022; it is expected to grow at a CAGR of 6.6% from 2022 to 2027.

Companies Mentioned

  • Advanced Specialty Lighting
  • Advanced Stage Lights
  • Advanced UV
  • Altman Lighting
  • American Ultraviolet
  • Atlantic Ultraviolet
  • Brandon Medical
  • Chauvet & Sons
  • Color Imagination LED Lighting
  • Crystal IS
  • Daray Medical
  • Getinge AB
  • Guangzhou Yajiang Photoelectric Equipment Co.
  • Halma
  • Herbert Waldman
  • Integra Lifesciences
  • Key Strengths/Right to Win
  • Martin Professional
  • MNM View
  • OSRAM
  • Simeon Medical
  • SMART Global Holdings (Cree LED)
  • Steris PLC
  • Strategic Choices Made
  • Technomed India
  • USHIO
  • Weaknesses And Competitive Threats
  • Xylem

The specialty lighting market has been segmented by light source, application, and region. Product launches and developments were the key strategies adopted by the leading players in the market from January 2018 to November 2022.

Other strategies adopted by the players to grow in the market during this period were partnerships and collaborations, and acquisitions.

The specialty lighting market is witnessing a rise in demand in entertainment application. The growth of the specialty lighting market is driven by the growth in the number of music events, stringent government regulations pertaining to UV disinfection, and an increase in the adoption of surgical lighting for minor and major surgical procedures.

Reduction in energy consumption, and subsequently its cost, is one of the key factors making LEDs a preferred choice of users over conventional lights.

LEDs are replacing conventional light sources such as fluorescent lamps, High-intensity Discharge (HID) lamps, and High-pressure Sodium (HPS) lamps in entertainment and medical lighting applications. The entertainment lighting application primarily includes stage, studio, and cinema lights, while the medical lighting application includes surgical and examination lights.

Stage lighting segment of entertainment application to account for largest market share during forecast period

The increasing number of live performances and growing music industry are expected to positively impact the growth of the stage lighting segment. An increase in the use of stage lighting for concerts, plays, operas, dance performances, theater, and other performances is also expected to drive the growth of the stage lighting segment.

The increasing number of live performances and growing music industry are expected to positively impact the growth of the stage lighting market.

In addition, increasing use of stage lighting for concerts, plays, operas, dance performances, and other events is expected to drive the growth of the stage lighting market. The intensity, color, type, and distribution of light play an important role in creating the effect required to justify the performance of artists on stage. This is expected to increase the adoption of stage lighting fixtures, which, in turn, will boost the growth of the stage lighting market.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

5.1. Introduction

5.2. Market Dynamics

5.2.1. Drivers

5.2.2. Restraints

5.2.3. Opportunities

5.2.4. Challenges

5.3. Value Chain Analysis

5.4. Revenue Shift and New Revenue Pockets for Specialty Lighting Players

5.5. Ecosystem/Market Map

5.6. Technology Analysis

5.7. Pricing Analysis

5.8. Patent Analysis

5.9. Trade Analysis

5.10. Porter's Five Forces Analysis

5.11. Regulatory Landscape

6 Specialty Lighting Market, by Light Source

7 Specialty Lighting Market, by Application

8 Specialty Lighting Market, by Region

9 Competitive Landscape

10 Company Profiles

11 Appendix

For more information about this report visit https://www.researchandmarkets.com/r/x8vmo5