DUBLIN, September 23, 2016 /PRNewswire/ --
Research and Markets has announced the addition of the "Global Lighting Market in the Hospitality Sector 2016-2020" report to their offering.
The global lighting market in hospitality sector is forecast to grow at a CAGR of 7.13% during the period 2016-2020.
Commenting on the report, an analyst from the research team said: Rapid urbanization will be a key trend for market growth. Rapid urbanization worldwide, especially in emerging economies, is leading to the increased demand for lighting devices in the hospitality sector.
Rapid urbanization will result in growing number of households worldwide, which are encouraging investors from the hospitality sector in building world class hotels and restaurants. This will accelerate the demand for new lamps and luminaires in the sector. This will accelerate the unit shipment of LED lightings.
According to the report, incentive programs on installation of energy-efficient lighting sources will be a key driver for market growth. The hospitality sector is making the transition toward energy-efficient LED lighting sources to reduce carbon footprint and utility cost. Increasing energy operating cost is the bane of most hotels' existence.
This cost is mostly associated with lighting in the hospitality sector. The interior of the Boise Wyndham hotel with 51,000-ft² area consumes 286,025 kWh of energy. The high energy cost compelled the hotel authorities to make the transition to energy-efficient ED lighting. After the LED retrofit. the hotel authorities witnessed that the energy consumption dropped to 71,456 kWh.
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
- General Electric
- Philips Lighting Holding
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Technology landscape
PART 06: Market landscape
PART 07: Market size and forecast
PART 08: Market segmentation by lighting technology
PART 09: Market segmentation by product type
PART 10: Geographical segmentation
PART 11: Market drivers
PART 12: Impact of drivers
PART 13: Market challenges
PART 14: Impact of drivers and challenges
PART 15: Market trends
PART 16: Vendor landscape
PART 17: Appendix
PART 18: About the Author
For more information about this report visit http://www.researchandmarkets.com/research/pl8x5h/global_lighting
Research and Markets
Laura Wood, Senior Manager
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SOURCE Research and Markets