Global Commercial Lighting Market is valued at approximately USD XX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2028. Commercial Lighting is a form of a LED semiconductor light source that emits light when current flows through it. The commercial-grade light products are manufactured from an enhanced quality LED driver, heat sinks, led modules, and others. The increasing number of smart city projects in developing countries, rising emphasis of governments on energy conservation, growing acceptance of standard protocols for lighting control systems, coupled with the surging use of integrated lighting control systems are the chief driving factors for the global market growth. For instance, as per the government insider, in 2018, China stood as the largest country for the smart city project and it is also anticipated that there are around 1000 smart city pilot projects globally that are carried out. Therefore, the rising number of smart city projects is likely to surge the demand for commercial lighting, which may positively influence the market growth across the globe. However, high installation costs and security and reliability issues associated with IoT-based lighting systems impede the growth of the market over the forecast period of 2022-2028. Also, the rapid transition from traditional lighting to connected lighting solutions and the growing adoption of PoE-based and solar lighting solutions are anticipated to act as catalyzing factors for the market demand during the forecast period.

The key regions considered for the global Commercial Lighting market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the infrastructural development and availability of favorable government policies. Whereas, Asia-Pacific is anticipated to exhibit the highest CAGR over the forecast period 2022-2028. Factors such as the increasing number of smart city development projects, as well as the growth of the developing nations like China, India, and Australia, would create lucrative growth prospects for the Commercial Lighting market across the Asia-Pacific region.

Major market players included in this report are:

Legrand S.A.

Acuity Brands, Inc.

GE Current

OSRAM Licht AG

Leviton Manufacturing Company, Inc.

Hubbell Incorporated

LEDVANCE GmbH

Schneider Electric SE

Ideal Industries, Inc. (Cree Lighting)

Zumtobel Group

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Offering:

Hardware

Software

Services

By Communication Technology:

Wired

Wireless

By Application:

Indoor

Outdoor

By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2018, 2019, 2020

Base year - 2021

Forecast period - 2022 to 2028

Target Audience of the Global Commercial Lighting Market in Market Study:

Key Consulting Companies & Advisors

Large, medium-sized, and small enterprises

Venture capitalists

Value-Added Resellers (VARs)

Third-party knowledge providers

Investment bankers

Investors