With a predicted increase from USD 5.7 billion in 2022 to USD 7.8 billion by 2027, representing a compound annual growth rate (CAGR) of 6.6% throughout the forecast period, the Specialty Lighting Market is expected to grow significantly. Technological developments, a greater inclination towards aesthetically pleasing and customised lighting options, and the growing acceptance of energy-efficient lighting solutions are some of the causes propelling this expansion. The specialised lighting industry is poised for a time of transformation as consumers and industries alike look for lighting solutions that go beyond traditional illumination. These products and solutions are innovative and customised to meet changing needs and tastes. The growth of the market is a sign of a larger trend in many different sectors towards more advanced and specialised lighting applications.
Applications for speciality lighting are common in the entertainment, medical, and UV lamp industries, where their special qualities and functions are used for particular goals. Specialty lighting is essential for producing dynamic and engaging visual experiences in the entertainment sector, which raises the allure of events and performances. Specialised lighting solutions are utilised in the medical field to provide concentrated and accurate illumination during medical tests and surgical procedures. Furthermore, the versatility of speciality lighting in meeting particular needs is highlighted by the employment of UV lamps in a variety of applications, including sterilisation and disinfection. Additionally, the potential of speciality lighting in airport applications is becoming increasingly recognised, pointing to a new market for its adoption and implying strong future prospects in this developing industry.
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An essential part of airport infrastructure, airport lighting is intended to improve overall look, safety, and operational efficiency. In addition to providing assistance to pilots during takeoff, landing, and taxiing, these lighting systems have other uses. Airport lighting is specifically engineered to provide pilots with visual direction during night flights or in inclement weather, thereby assisting with navigation and guaranteeing the safe execution of flight operations. Apart from its practical use, airport lighting enhances the visual attractiveness of airports by providing a bright and pleasant atmosphere for travellers and enhancing visibility across the airport premises. The efficient and safe operation of airports around the world is greatly dependent on the thoughtful placement of lights.
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Airports all around the world are actively modernising their current lighting systems, placing a special emphasis on improving airport infrastructure and raising operational standards. The goal of this strategic endeavour is to present these airports as cutting-edge establishments that uphold the highest standards worldwide. The extensive upgrading projects cover runway, taxiway, and terminal illumination, among other airport lighting components. Modernising lighting systems becomes an essential part of airport expansion plans as they work to provide cutting-edge services and increase overall safety. This development presents speciality lighting manufacturers with considerable commercial prospects during the projection period and also indicates the airports' dedication to providing top-notch facilities.
The major players in the specialty lighting market include Signify (Netherlands), OSRAM (Germany), SMART Global Holdings (Cree LED) (US), Ushio (Japan), Advanced Specialty Lighting (US), Herbert Waldmann (Germany), Getinge AB (Sweden), Brandon Medical (England), Integra Lifesciences (US), American Ultraviolet (US), Steris PLC (UK), Halma (US), and Advanced UV (US).
In application type, the entertainment application is expected to hold the highest market share of the specialty lighting market during the forecast period
In order to create engaging and dramatic effects that are necessary for performances and shows, entertainment lighting plays a crucial part in lighting stages, studios, and numerous events. This kind of lighting, which uses a variety of light sources such LED lights, halogen lamps, xenon lamps, and incandescent lamps, is widely used in film shoots and video recordings. The purpose of entertainment lighting is to keep the audience's attention by giving artists the right amount of intensity, colour distribution, and direction. Stage lighting is the most common application of entertainment lighting, followed by studio lighting and other settings, on stages and in studios.
Regional market segmentation for entertainment lighting includes North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America's strong growth in the music business, rising attendance at music festivals, and expanding urbanisation tendencies propelled the region to the top of the entertainment lighting market in 2021. With the support of numerous organisations such as the European Music Council, the European Festivals Association, and the National Association of Music Merchants & International Music Products Association (NAMM), Europe is well-positioned for significant expansion. The development of malls, multiplexes, theatres, and other entertainment venues is also fueled by the changing lifestyle preferences of the general public, which further supports the growth of the entertainment and film industries.
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The North America specialty lighting market is projected to have the highest market share during the forecast period
The speciality lighting market is well-established in North America, where it held the top market share in 2021 and is expected to continue doing so for the duration of the forecast period. Prominent music festivals like Lollapalooza, Bonnaroo, Bumbershoot, Electric Zoo Festival, and others are held in the region, which supports the thriving industry for entertainment lighting applications. The growing popularity of music festivals and the expanding patterns of urbanisation are the main factors driving the demand for speciality lighting in North America.
Furthermore, a large portion of the North American market—the United States—saw a notable total of 6,093 hospitals in 2021, and rise in this number is anticipated during the forecast period. The number of surgical procedures and patient examinations is expected to increase as a result of this expansion, increasing the demand for speciality lighting. North America is positioned to be a major driver of the specialty lighting industry's growth in the upcoming years, as these variables continue to define the market landscape.
Key Players of specialty lighting Market:
Signify (Netherlands), OSRAM (Germany), SMART Global Holdings (Cree LED) (US), Ushio (Japan), Advanced Specialty Lighting (US), Herbert Waldmann (Germany), Getinge AB (Sweden), Brandon Medical (England), Integra Lifesciences (US), American Ultraviolet (US), Steris PLC (UK), Halma (US), Advanced UV (US), Martin Professional (Denmark), Altman Lighting (US), Guangzhou Yajiang Photoelectric Equipment Co. (China), Chauvet & Sons (US), Daray Medical (UK), Color Imagination LED Lighting (China), Advanced Stage Lights (India), Technomed India (India), Simeon Medical (Germany), Crystal IS (US), and XYLEM (US).
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