Worldwide Specialty Lighting Industry to 2026 - Key Drivers and Restraints of the Market
DUBLIN, Sept. 2, 2020 /PRNewswire/ -- The "Global Specialty Lighting Market By Light Type, By Application, By Region, Industry Analysis and Forecast, 2020 - 2026" report has been added to ResearchAndMarkets.com's offering.
The Global Specialty Lighting Market size is expected to reach $8.3 billion by 2026, rising at a market growth of 8.8% CAGR during the forecast period. The key factors for the growth of the industry are the growing number of live music activities and concerts; stringent government restrictions on air, water and surface disinfection; increasing prevalence and acceptance of surgical lighting for minor and large surgical procedures; and reducing costs and increasing prevalence of LEDs. The underlying market trends include growing demand for ultra-pure water from end-use industries and strong growth prospects for new applications.
Entertainment lighting is leading the market for specialty lighting. Entertainment lighting requires lamps that retain the audience's attention and provide the performers with sufficient power, colour distribution and direction. Entertainment lighting has a variety of applications, such as stage, studio and others. Stage lighting leads the entertainment lighting segment, followed by studios and others, and this pattern is expected to stay consistent over the coming years. Due to the growing number of music events, the demand for special lighting for entertainment is likely to increase over the coming years.
The demand for specialty lighting is increased with increasing numbers of events such as concert tours and sport competitions. More than 800 music festivals are organized annually in the USA, attracting almost a million people. Apart from the United States, Japan, India, South Korea, Canada, Germany, France, Italy and United Kingdom are some of the widely-known countries for their music concerts. The initiation of these major events therefore helps specialty lighting providers to generate greater revenues each year. The increased demand also contributed to market growth for television series production companies, operas and the film industry.
The COVID-19 pandemic that led to lockdown and curfew around the world has slowed down market growth. However, the need for medical lighting is expected to rise due to the construction of temporary hospitals and the need for surgical and examination facilities. Several countries around the world are surpassing the number of hospital beds that need to be curbed by the construction of new isolation and treatment centers and the purchase of more medical equipment and lighting.
Based on Light Type, the market is segmented into LED and Others. Based on Application, the market is segmented into Entertainment, Medical, Purification and Others. Medical segment is further bifurcated into Surgical Lighting and Examination. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Xylem, Inc., PerkinElmer, Inc. (Advanced Specialty Lighting), Cree, Inc., Halma PLC, Signify N.V., Ushio, Inc., Steris PLC, Integra LifeSciences Holdings Corporation, Advanced UV Light GmbH (JW Holding GmbH), and Atlantic Ultraviolet Corporation.
Strategies deployed in Specialty Lighting Market
Jun-2020: Ushio America, Inc. signed an agreement with Acuity Brands, Inc. Following the agreement, Ushio aimed to supply Acuity Brands with its Care222 UV disinfection module, which uses filtered excimer lamps to generate 222nm far-UVC light capable of inactivating viruses and bacteria on indoor surfaces.
Mar-2020: Signify took over Cooper Lighting Solutions from Eaton. The acquisition aims to strengthen Signify's market position and woul help the company in growing its business in the North American lighting market.
Apr-2019: Signify announced an agreement to acquire WiZ Connected, the developer of the WiZ Wi-Fi-based connected lighting ecosystem. The acquisition is expected to help the company in entering the Wi-Fi-based smart lighting market.
Sep-2018: Ushio America launched a new line of outdoor architectural LED lighting fixtures. The line includes traditional and slim wall packs, slim area lights, canopy mount fixtures, and wall mount security lights.
Sep-2018: Signify signed an agreement with IMTAC, one of the largest system integration technology companies in the GCC and an IoT solution provider. The partnership was focused on bringing the latest and best-in-class Smart City Solutions to Oman. The partnership enabled the company in providing its Smart Lighting solutions to Oman.
Jun-2018: Ushio America introduced the Care222 Series, a new line of 222nm flat excimer lamps. These lamps have been designed for microbial reduction and other product solutions.
May-2018: Philips Lighting signed an agreement to acquire Shenzhen LiteMagic Technologies Co., Ltd., a Chinese manufacturer and seller of lighting luminaires and control systems for urban and faade lighting. The acquisition is expected to broaden Philips' high-end portfolio of faade lighting with a complementary portfolio of luminaires and control systems to capture growth in the mid segment of the urban market.
Nov-2017: Ushio acquired Zylight LLC, a manufacturer of innovative lighting products for the entertainment production industry. The acquisition expanded its presence in the entertainment industry.
Mar-2017: Philips Lighting came into an agreement with Cerezo Osaka, the J1 League soccer club. Following the agreement, Philips Lighting aimed to provide design, consultancy services, and advanced LED lighting technology for the club's stadium and practice pitches.
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Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.2 Executive Summary
2.1.3 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Global Specialty Lighting Market by Light Type
3.1 Global LED Specialty Lighting Market by Region
3.2 Global Others Specialty Lighting Market by Region
Chapter 4. Global Specialty Lighting Market by Application
4.1 Global Entertainment Specialty Lighting Market by Region
4.2 Global Medical Specialty Lighting Market by Region
4.3 Global Medical Specialty Lighting Market by Type
4.3.1 Global Surgical Lighting Specialty Lighting Market by Region
4.3.2 Global Examination Specialty Lighting Market by Region
4.4 Global Purification Specialty Lighting Market by Region
4.5 Global Other Application Specialty Lighting Market by Region
Chapter 5. Global Specialty Lighting Market by Region
5.1 North America Specialty Lighting Market
5.2 Europe Specialty Lighting Market
5.3 Asia Pacific Specialty Lighting Market
5.4 LAMEA Specialty Lighting Market
Chapter 6. Company Profiles
6.1 Xylem, Inc.
6.1.1 Company Overview
6.1.2 Financial Analysis
6.1.3 Segmental and Regional Analysis
6.1.4 Research & Development Expense
6.2 PerkinElmer, Inc. (Advanced Specialty Lighting)
6.2.1 Company Overview
6.2.2 Financial Analysis
6.2.3 Segmental and Regional Analysis
6.2.4 Research & Development Expense
6.3 Cree, Inc.
6.3.1 Company Overview
6.3.2 Financial Analysis
6.3.3 Segmental and Regional Analysis
6.3.4 Research & Development Expense
6.4 Halma PLC
6.4.1 Company Overview
6.4.2 Financial Analysis
6.4.3 Segmental and Regional Analysis
6.4.4 Research & Development Expense
6.5 Signify N.V.
6.5.1 Company Overview
6.5.2 Financial Analysis
6.5.3 Segmental and Regional Analysis
6.5.4 Research & Development Expense
6.5.5 Recent strategies and developments:
6.5.5.1 Partnerships, Collaborations, and Agreements:
6.5.5.2 Acquisition and Mergers:
6.6 Ushio, Inc.
6.6.1 Company Overview
6.6.2 Financial Analysis
6.6.3 Segmental Analysis
6.6.4 Recent strategies and developments:
6.6.4.1 Partnerships, Collaborations, and Agreements:
6.6.4.2 Acquisition and Mergers:
6.6.4.3 Product Launches and Product Expansions:
6.7 Steris PLC
6.7.1 Company Overview
6.7.2 Financial Analysis
6.7.3 Segmental and Regional Analysis
6.7.4 Research & Development Expense
6.8 Integra LifeSciences Holdings Corporation
6.8.1 Company Overview
6.8.2 Financial Analysis
6.8.3 Segmental and Regional Analysis
6.8.4 Research & Development Expense
6.9 Advanced UV Light GmbH (JW Holding GmbH)
6.9.1 Company Overview
6.10 Atlantic Ultraviolet Corporation
6.10.1 Company Overview
For more information about this report visit https://www.researchandmarkets.com/r/v1u1x
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