SAN FRANCISCO, June 4, 2020 /PRNewswire/ --The global specialty lighting market size is expected to reach USD 8.9 billion by 2027 registering a CAGR of 7.0%, according to a new report by Grand View Research, Inc. The market is driven by the growing use of lighting in entertainment, medical, harbor, and other end-use segments. Reduced cost and improved efficiency of LED lights make them preferable for specialty lighting. Moreover, the use of UV lights for water, air, and surface purification across industries is expected to augment the market over the forecast period.
Key suggestions from the report:
- The purification application segment is projected to witness the fastest growth over the forecast period owing to high product demand for disinfecting air, water, and surface in chemical labs, path labs, medicine manufacturing plants, hospitals, etc.
- LED product type segment is estimated to account for the largest market share expanding at the maximum CAGR from 2020 to 2027
- Demand for LED lights has increased in several applications due to their low cost, long life, and low energy consumption
- North America is projected to account for the largest market share by 2027 due to high product demand from the entertainment and medical sectors in the region
Read 120 page research report with ToC on "Specialty Lighting Market Size, Share & Trends Analysis Report By Light Type (LED), By Application (Entertainment, Purification), By Medical Type (Surgical, Examination), And Segment Forecasts, 2020 - 2027" at: https://www.grandviewresearch.com/industry-analysis/specialty-lighting-market
The broad range of specialty lighting solutions for medical includes solar simulation lamps, OR & surgical lamps, UV & germicidal lamps, microscope lamps, endoscopy lamps, medical & scientific lighting, and dental & endodontic lamps, among others. These lighting solutions allow healthcare specialists to perform their tasks with a clear view of their subject, thereby boosting the demand for specialty lighting. In addition, various regulatory bodies are encouraging the use of LED lights as they are energy-efficient and deliver the required lighting performance.
Global organizations, such as the Pan America Health Organization, in collaboration with the World Health Organization (WHO), have suggested guidelines for lighting levels in different areas of the hospital. These guidelines assist the manufacturer in developing innovative products. The prominent companies are actively engaged in developing lighting products for medical applications, which enhance visibility with minimized glare and has a lesser strain on the eyes.
The entertainment application segment has witnessed a surge in demand owing to the growing use of lighting on movie sets, in studios, and on stage. Studio and stage lightings are different in terms of color, brightness, hue, and temperature as the studio needs harsh and soft light for a short distance while stage lights have more coverage area and can project to long distances. Technological advancements have further helped in controlling lighting patterns via apps, which boosts demand in the entertainment sector.
Grand View Research has segmented the global specialty lighting market on the basis of light type, application, medical type, and region:
- Specialty Lighting Light Type Outlook (Revenue, USD Million, 2016 - 2027)
- Specialty Lighting Application Outlook (Revenue, USD Million, 2016 - 2027)
- Specialty Lighting Medical Type Outlook (Revenue, USD Million, 2016 - 2027)
- Specialty Lighting Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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