High-End Lighting Market Analysis by Light Source Type - Energy Watch News

High-End Lighting Market Analysis by Light Source Type

The global high-end lighting market size was estimated at USD $14.43 billion in 2016. Increasing demand for connected lighting and interior designing is anticipated to be a key factor driving the industry growth. Increasing penetration of smartphones and internet connectivity is growing the demand for connected lighting systems, thus impacting the market growth. The market can be segmented by light source into LED lamps, HID lamps, fluorescent lights and others. The LED lamps segment is anticipated to exhibit high growth in this particular market over forecast period. The segment accounted for USD 5.12 billion in 2016 and is projected to grow with a CAGR of 6.8% from 2017 to 2025. HID high-end lighting market is expected to witness steep fall in revenue by 2025. http://www.grandviewresearch.com/industry-analysis/high-end-lighting-market

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