Elettronica
Architectural Lighting Market Size Worth $12.2 Billion by 2027 | CAGR: 6.1%: Grand View Research, Inc.
https://www.grandviewresearch.com/industry-analysis/architectural-lighting-market
The rapidly growing construction of the commercial building and residential building owing to urbanization and globalization across developing countries such as Brazil , India , China , and South Africa , is one of the major contributing factors boosting the demand for architectural lighting. Growing investment in construction projects at smart cities and Special Economic Zone (SEZ), Free Trade Zone (FTZ), and Export Processing Zone (EPZ) are further expected to increase demand for outdoor as well as an indoor lights. Moreover, smart city projects are providing an impetus to the growing demand for technology-enabled architectural lighting solutions, thereby driving the growth of the market.
The lighting industry has evolved, which has shaped the customer perception of using light for decorative purposes. Moreover, a well-lit environment contributes significantly towards improving the safety and security of the environment. The introduction of LEDs further strengthened the designing technique of lighting fixtures and lamps, helping interior designers to provide an array of lighting solutions for commercial and residential spaces. In addition, the introduction of OLED lights has further augmented the market potential owing to benefits such as a lesser number of components as compared to LED fixtures, lightweight, and thin structure. However, the high cost of OLED lights coupled with issues regarding efficacy and life expectancy at higher luminance levels is anticipated to hamper the market.
Electronic Devices Industry
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