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LED technology is dominating the ambient lighting industry with its energy efficiency, extended lifespan, and decreasing costs. Regulatory efforts advocating for energy-efficient solutions and consumer demand for sustainability are propelling this shift toward LEDs. This trend underscores a broader industry focus on eco-friendly and cost-effective lighting solutions in both residential and commercial settings.
While residential applications remain a significant segment of the market, there is a growing interest in commercial and outdoor lighting solutions. Businesses, municipalities, and institutions seek energy-efficient and programmable lighting systems for offices, retail spaces, streets, parks, and architectural landmarks, augmenting market growth in these segments.
Ambient indoor lighting market is estimated to expand at over 9.5% CAGR from 2024 to 2032, due to the proliferation of smart home technology and growing adoption of lighting systems, easily controlled via smartphones or voice assistants.
Asia Pacific ambient lighting industry accounted for over 40% revenue share in 2023 and is expected to expand at substantial CAGR from 2024 to 2032, led by the increasing urbanization, rising disposable income, and the growing awareness of energy-efficient lighting solutions.
Industry size for ambient lighting recorded over USD 70 billion in 2023 and is expected to register over 9% CAGR from 2024 to 2032, owing to the rising adoption of IoT devices, home automation systems and growing trend of interconnected smart homes.
Signify Holding, OSRAM GmbH, GE Lighting (SAVANT TECHNOLOGIES LLC), Koninklijke Philips NV, Samsung Electronics Co. Ltd, Eaton Corporation Inc., SCHOTT Group are some of the major ambient lighting companies worldwide.