February 01st, 2024

Decorative Lighting Market Trends, Business Analysis, Growth Opportunities 2023-2028

Decorative Lighting Market Trends, Business Analysis, Growth Opportunities 2023-2028

According to IMARC Group latest report titled “Decorative Lighting Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on decorative lighting market growth. The report also includes competitor and regional analysis, and contemporary advancements in the global market.

The global decorative lighting market size reached US$ 40.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 50.0 Billion by 2028, exhibiting a growth rate (CAGR) of 3.5% during 2023-2028.

Decorative lighting is a design-focused interior and exterior lighting branch that transforms spaces into visually captivating environments. It encompasses an array of fixtures, including chandeliers, pendant lights, wall sconces, and LED strips, each crafted to serve aesthetic purposes. It complements architectural elements and enhances ambiance, making it a centerpiece in home decor, hospitality, and commercial spaces. It relies on artistic designs, materials, and illumination techniques to create captivating visual effects, from soft, warm glows to dazzling focal points. Beyond aesthetics, decorative lighting also influences mood, emphasizing the importance of thoughtful illumination in creating inviting and immersive environments.

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Market Trends:

The global market is majorly driven by the increasing interior design styles and preferences. In line with this, innovative architectural designs often incorporate decorative lighting as an integral element, boosting demand. Furthermore, the hospitality and entertainment industries use decorative lighting to create captivating atmospheres, driving commercial sales. Apart from this, the rising integration with smart home systems and IoT technology enhances the appeal and functionality of decorative lighting, positively influencing the market. Moreover, the growing environmental concerns encourage the adoption of eco-friendly decorative lighting options. Besides, the convenience of online shopping broadens access to a wide range of decorative lighting products. The escalating demand for personalized and bespoke lighting solutions drives market growth. The urban living trends also promote decorative lighting to enhance small living spaces.

View Full Report with TOC & List of Figure: https://www.imarcgroup.com/decorative-lighting-market

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

  • Acuity Brands Inc.
  • Bridgelux Inc
  • Crest LED Lighting
  • Fagerhults Belysning AB
  • General Electric Company
  • Honeywell International Inc.
  • Hubbell Incorporated
  • Ideal Industries Inc.
  • Maxim Lighting
  • Nichia Corporation
  • Osram Licht AG (ams AG)
  • Signify Holding

Decorative Lighting Market Segmentation:

Our report has categorized the market based on region, product type, light source, distribution channel and end user.

Breakup by Product Type:

  • Chandelier
  • Pendant
  • Sconce
  • Flush Mount
  • Ceiling Mount
  • Wall Mount
  • Others

Breakup by Light Source:

  • LED
  • Fluorescent
  • Incandescent
  • Others

Breakup by Distribution Channel:

  • Supermarkets and Hypermarkets
  • Specialty Stores
  • Online Stores
  • Others

Breakup by End User:

  • Commercial
  • Household

Breakup by Region:

  • North America (United States, Canada)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Others)
  • Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the report:

  • Market Performance (2017-2022)
  • Market Outlook (2023-2028)
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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