Home » How Is Economic Prosperity Driving Demand for Ambient Lighting?

How Is Economic Prosperity Driving Demand for Ambient Lighting?

by ananyjoshi
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Ambient Lighting Market Analysis and Demand Forecast Report

With the increase in people’s disposable income and employment rate, the global travel & tourism industry is continuously growing. This is because people are now traveling more for leisure and work purposes, domestically and internationally. This is directly driving the hospitality industry, reflected in the increasing number of hotels, resorts, and other such places offering accommodation. To make the stay of guests more enjoyable, hotels, particularly luxury hotels, are creating a relaxed environment. This is being done with the help of ambient lighting, which is a type of diffused lighting that is equally distributed inside a room.

P&S Intelligence says that with the growth of the hospitality sector, the ambient lighting market will reach $156.5 billion in 2030 from $60.8 billion in 2019, at a 9.2% CAGR during 2020–2030 (forecast period). Similarly, such lighting is deployed in theaters to create an immersive cinematic experience and in casinos to control the glare, which otherwise hampers the operation of dealers, video cameras, and players. Due to such advantages of ambient lighting, it is rapidly becoming popular in dining rooms, exhibition halls, conference centers, and meeting rooms as well.

Read More: Ambient Lighting Market Analysis and Demand Forecast Report

Another emerging application area of such lighting is automobiles, with numerous automakers using it as a marketing tactic. For instance, a study conducted by BMW AG claims that ambient lighting makes drivers more aware of the situation and feel safer. Apart from BMW, several other luxury car makers offer vehicles already equipped with ambient lighting. Moreover, with the increasing penetration of the internet and rising readership of auto magazines, people in developing countries are having their vehicles modified with ambient lighting, as a style statement.

The type segment of the ambient lighting market is categorized into surface-mounted lights, recessed lights, strip lights, suspended lights, track lights, and others. Among these, the recessed lights category held the dominating share during 2014–2019 (historical period) due to the wide application of such products in commercial and residential units. During the forecast period, the fastest growth in the market is set to be witnessed by strip lights, as they are gaining quick popularity in residential and automotive applications.

These lights are, however, currently subject to stringent energy efficiency regulations, which are driving the usage of LEDs for ambient lighting purposes. For instance, with its energy efficiency codes for residential and commercial sectors, the U.S. hopes to reduce carbon dioxide emissions by 841 million metric tonnes (MMT) during 2010–2040 and save $126 billion in electricity bills. It is a well-known fact that LEDs are more energy-efficient, lower-maintenance, and longer-lasting than halogen, incandescent, and halogen lights, which is why governments around the world are promoting LEDs.

In 2019, Asia-Pacific (APAC) held the largest share in the ambient lighting market, as the increasing disposable income of the people here is allowing them to purchase such fixtures. In China, South Korea, and India, ambient lighting systems are being swiftly installed in residential units, cars, commercial buildings, hotels, hospitals, theaters and other indoor performance venues, and restaurants, cafes, bars, and pubs. Similarly, the corporate sector is growing in the region, which is leading to the increasing demand for ambient lighting in offices and meeting rooms.

Thus, with the stronger desire of people to have more-aesthetically appealing homes, offices, and automobiles, the installation of ambient lighting systems will continue surging around the globe.

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