The report "Specialty Lighting Market by light source (LED, Halogen Lamps, Xenon Bulbs, Incandescent Lamps), application (Entertainment, Medical, UV Lamps), and Region (North America, Europe, Asia Pacific, RoW) - Global Forecast to 2024", is expected to reach USD 7.2 billion by 2024 from USD 5.4 billion in 2019, at a CAGR of 5.9% from 2019 to 2024. The main drivers for the market’s growth are the increasing number of live music events and concerts; stringent government regulations for air, water, and surface disinfection; rising penetration and adoption of surgical lighting for slight and major surgical procedures; and declining cost and increasing penetration of LEDs. Underlying opportunities for the specialty lighting market include the increasing demand for ultrapure water from end-use industries and high growth prospects in new applications.
Based on application, entertainment to hold largest market share of specialty lighting market during forecast period
Entertainment lighting primes the specialty lighting market. Entertainment lighting includes lamps which maintain the focus of the audience and provide proper intensity, color distribution, and direction to the performers. Entertainment lighting has various applications, including stage, studio, and others. Stage lighting leads the entertainment lighting segment, followed by studio and others, and this trend is projected to remain the same during the forecast period. Due to the increasing number of musical events, the demand for specialty lighting for entertainment is likely to increase in the coming years.
Surgical lighting likely to be largest shareholder of medical lighting application of specialty lighting in coming years
Surgical lights are used to assist the surgeons and other healthcare professionals during major as well as minor surgical procedures. The manufacturers of surgical lights manufacture these lights based on various specifications, such as brightness, color rendering index (CRI), homogeneity, correlated color temperature (CCT), shadow dilution, etc. Surgical lights are used in surgical suites, endoscopy procedures, dental procedures, and other minor surgeries. With the increasing demand for a unique balance of luminance of light and shadow management, the demand for shadowless surgical lights is expected to increase, and subsequently drive the market for surgical lighting in the coming years.
Asia Pacific specialty lighting market expected to grow at highest CAGR during forecast period
Signify Holding (Signify, Netherlands), OSRAM Licht AG (OSRAM, Germany), Cree, Inc. (CREE, US), Ushio, Inc. (USHIO, Japan), Advanced Specialty Lighting, Inc. (Advanced Specialty Lighting, US), Getinge AB (Getinge, Sweden), Herbert Waldmann GmbH & Co. KG (Waldmann, Germany), Brandon Medical Co Ltd (Brandon Medical, England), Integra LifeSciences Corporation (Integra LifeSciences, US), and Steris PLC (Steris, US) are a few major players in the specialty lighting market.
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630 Dundee Road
Suite 430
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USA : 1-888-600-6441
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