The latest report by IMARC Group, titled “Decorative Lighting Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2024-2032,” offers a comprehensive analysis of the decorative lighting market share. The report also includes competitor and regional analysis, along with a breakdown of segments within the industry.

The global decorative lighting market size reached US$ 41.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 54.7 Billion by 2032, exhibiting a growth rate (CAGR) of 3.1% during 2024-2032.

Decorative Lighting Market Trends:

The global market is primarily driven by the increasing consumer inclination towards enhancing home aesthetics and ambiance. In accordance with this, the growth in residential construction and renovation activities, particularly in urban areas, is fueling the market demand. Moreover, continual advancements in lighting technologies, including LED and smart lighting systems, offer energy-efficient and customizable options that appeal to modern consumers and foster market expansion. The rising disposable income and the willingness to invest in high-quality, visually appealing lighting fixtures are also contributing to market growth.

Additionally, the growing influence of interior design trends and the popularity of themed decor for various occasions and festivals are significantly developing the market. The market is also expanding as manufacturers are focusing on producing innovative and energy-efficient lighting solutions. Besides this, the growing hospitality sector, with hotels and restaurants prioritizing attractive lighting to enhance guest experiences, are strengthening the market outlook.

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Decorative Lighting Market Scope and Growth Analysis:

The market scope is extensive, covering a wide range of applications in residential, commercial, and hospitality sectors. The scope of the market is poised for substantial growth, driven by continuous innovations in lighting design and technology. In addition to this, the increasing use of decorative lighting in outdoor spaces, such as gardens and patios, and in commercial settings, such as retail stores and offices, is expanding the market's reach.

The market scope is also benefiting from the trend towards smart homes, where decorative lighting plays a crucial role in creating customizable living environments. As per market analysis, the proliferation of e-commerce platforms makes decorative lighting more accessible to a broader audience. Likewise, the increasing awareness of sustainable and eco-friendly lighting solutions drives the adoption of energy-efficient decorative lights. Apart from this, government initiatives promoting energy conservation and the adoption of LED lighting further support market scope.

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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 (2018-2023)
• Market Outlook (2024-2032)
• 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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