Growing Proliferation of LED Lighting, Smart Lighting, and Connected Home Technology Drives the Lighting Fixtures & Luminaires Market
The global market for Lighting Fixtures and Luminaires is projected to exceed US$120 billion by 2025 , driven by rapid penetration of LED lighting and the corresponding demand for technologically advanced LED luminaires, and surging popularity of smart luminaires integrated with intelligent lighting control amidst growing focus on reducing energy consumption. Lighting fixtures are designed and constructed to collect, distribute, reflect, direct, or diffuse light from any electric light source for general or localized illumination. Continuous developments in the residential, commercial, industrial and public lighting markets resulted in significant developments in the lighting fixtures market over the years. With light sources becoming more energy efficient and technologically advanced, lighting fixtures that hold those sources evolved considerably in terms of design, compatibility and flexibility. The automotive and general lighting sectors constitute the two key markets for lig...