Programmable Stage Lighting Market to Flourish at a 5% CAGR by 2032 - Latest Fact.MR Study

NEW YORK, Feb. 15, 2022 /PRNewswire/ -- The global programmable stage lighting market is expected to grow at a CAGR of 5% during the forecast period 2022-2032, estimated to reach a market valuation of US$ 1.75 Bn by the end of 2022. 

A steady growth rate of 7% was observed in this market between 2017 and 2021. Commercial outdoor and indoor public events for business and recreation were major drivers of this growth. Additionally, their low power requirements have further enhanced uptake. By 2032, LEDs will account for 90% of global sales, according to the International Energy Agency.

Theaters and the sports sector are expected to drive the market in the near future due to an increasing demand for programmable stage lights.

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During the forecast period, long lifetimes and cost-effectiveness are projected to be significant factors supporting the growth of the programmable stage lighting market. Furthermore, programmable motion sensors that are coupled with high-quality lighting are expected to augment the market over the forecast period.

There was a significant drop in demand for programmable stage lighting during the COVID-19 pandemic. Due to the imposed lockdowns, trade fairs, business conferences, religious services, and sporting events were canceled in an effort to curb the spread of the disease.

Market opportunities are expected to be abundant during the forecast period in developing countries such as India and China. A combination of large-scale public events, a significant young population, and the demand from smaller individual events contributes to growth prospects in developing countries.

Key Takeaways: 

• Over the period of 2017 and 2021, the market grew at a steady 7% rate.
• The US is expected to attain the lion's share in the assessment period, showing a CAGR of 5%
• With a CAGR of 7%, Japan is considered to be a lucrative market due to the presence of many small and medium businesses.
• China's stage lighting market is expected to grow at a CAGR of 8% during the forecast period.
• The strip light segment is predicted to account for 45% of the market.

Growth Drivers: 

• The demand for efficient programmable stage lighting is predicted to rise as a result of innovative ideas, such as; LED light effects in amalgamation with fog machines. 
• The events industry is set to play an unprecedented role in fostering the growth of the market in the coming years thanks to the growing demand for specialized lighting displays and LED lights.

Key Restraints: 

• A major barrier to market growth has been identified as the high costs associated with programmable solutions, which have been estimated to be five times higher than traditional lighting solutions.

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Competitive Landscape

Key players of the global programmable stage lighting market are primarily focused on product development and acquisitions. The major players invest in a variety of initiatives to gain a leading position. A few initiatives taken recently by key players include:

• A new LED Work Light II (WLII) was launched in July 2021 by Altman Lighting that is energy-efficient and portable.
• A new professional lighting tool was launched by ADJ in January 2022, the D4 Branch RM. This tool is a 4-way DMX splitter and booster.
• Chauvet announced in September 2021 that it acquired renowned and leading LED lighting company Kino Flo.

Key Companies Profiled by Fact.MR 

• PR Lighting Ltd.
• Robert Juliat
• ADJ Products LLC
• Guangzhou GTD Lighting Technology Co. Ltd.
• Altman Lighting Co.
• Chauvet & Sons Inc.
• Clay Paky S.p.A.,ROBE Lighting s.r.o.
• General Electric Company
• Martin Professional

More valuable Insights on Programmable Stage Lighting Market 

Fact.MR, in its report, offers a market analysis of the global Programmable Stage Lighting Market analysing forecast period through 2022 and beyond. This survey reveals the growth of technology in the Programmable Stage Lighting Market with detailed segmentation as follows: -

• By Light Type
• Halogen-based Programmable Stage Lighting
• Laser Light-based Programmable Stage Lighting
• LED Programmable Stage Lighting
• Other Programmable Stage Lighting Types
• By Product
• PAR Can Programmable Stage Lights
• Moving Programmable Stage Head Lights
• Programmable Stage Strip Lights
• Other Programmable Stage Lighting Products
• By Application
• Programmable Stage Lighting for Theaters
• Programmable Stage Lighting for Entertainment Places
• Programmable Stage Lighting for Other Applications
• Technology
• Bluetooth-enabled Programmable Stage Lighting
• Wi-Fi-enabled Programmable Stage Lighting
• Other Technology-enabled Programmable Stage Lighting
• By Region
• North America
• Latin America
• Europe
• East Asia
• South Asia & Oceania
• MEA

Key Questions covered in the Programmable Stage Lighting Market Report 

• What is the global programmable stage lighting market scenario?
• How far is the global demand expected to reach over the forecasted period?
• What was the last 5-year CAGR for the demand in the Programmable Stage Lighting Market?
• Who are the prominent players in the global Programmable Stage Lighting Market?
• Which is the most leading region in the Programmable Stage Lighting Market?

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