Major Opportunities for the Commercial Lighting Market by 2025

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Major Opportunities for the Commercial Lighting
Market by 2025 Commercial Lighting Market with
COVID-19 Impact Analysis by Offering (Hardware,
Software, and Services), Installation Type (New
and Retrofit), End-use Application (Indoor and
Outdoor), Communication Technology, and Region -
Global Forecast to 2025 https//www.marketsandmar
kets.com/Market-Reports/commercial-lighting-market
-201955742.html
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  The commercial lighting market is projected to
reach USD 21.8 billion by 2025 from USD 8.2
billion in 2020 it is expected to grow at a CAGR
of 21.5 during the forecast period. Major
drivers for the growth of the market are ongoing
and upcoming smart city projects in the
developing countries, growing focus of
governments worldwide on energy consumption,
increasing acceptance of standard protocols for
lighting control systems, escalating demand for
LED lights and luminaires for use in outdoor
applications, and surging use of integrated
lighting control systems. Rapid transition from
traditional lighting to connected lighting
solutions and increased adoption of PoE-based and
solar lighting system are major opportunities for
the commercial smart lighting market. Browse 127
market data Tables and 59 Figures spread
through 236 Pages and in-depth TOC on "Commercial
Lighting Market with COVID-19 Impact Analysis -
Global Forecast to 2025"
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The market for services is expected to grow at
the highest rate during the forecast period due
to the rising adoption of smart lighting
solutions and lighting services to reduce energy
cost and achieve energy conservation and
ecological safety. The growth of the market for
services is also attributed to the high demand
for engineering, consulting, and analytical
services from end users of smart lighting
solutions. Ask PDF Brochure https//www.marketsa
ndmarkets.com/pdfdownloadNew.asp?id201955742 The
retrofit installations segment is expected to
register a higher CAGR during the forecast
period. The rate of energy conservation is
projected to increase owing to the rising number
of retrofitting initiatives undertaken by
government and private organizations in the US.
Retrofit lighting is often considered a
low-hanging fruit that instantly and easily
helps achieve significant reductions in energy
usage.
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The wireless segment is expected to witness a
higher CAGR during the forecast period. The use
of wireless technology eliminates the need for
wires, reduces the maintenance cost, and provides
convenience to indoor and outdoor applications.
Hence, wireless technology-based lighting
solutions are likely to be adopted at a higher
rate in the coming years. Wireless technology is
also expected to become the mainstream control
technology in the near future owing to the
ongoing developments and increasing adoption of
the technology in indoor professional lighting
and commercial verticals. Request Free Sample
Pages https//www.marketsandmarkets.com/pdfdownlo
adNew.asp?id201955742 The market for outdoor
applications is expected to grow at a higher CAGR
during the forecast period. This growth is mainly
due to increasing focus on enhancing connectivity
by constructing roads and installing smart lights
on these roads, especially in key countries such
as the US, the UK, Canada, India, and China.
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The commercial smart lighting market in APAC is
expected to grow at the highest CAGR during the
forecast period. This growth can be attributed to
the rapid infrastructure development activities
being undertaken in APAC, mainly in China, where
smart lighting solutions pave the way for the
modernization of infrastructure. Projects related
to infrastructure modernization and development,
such as smart cities, across the region would
also drive the demand for smart street lights,
thereby propelling the growth of the market for
commercial smart lighting in this
region. Several initiatives have been taken by
various governments in APAC countries to improve
the infrastructure, which is driving the growth
of the commercial smart lighting market.
Industries present in this region are focusing on
the modernization of their infrastructure. This
is further likely to create opportunities for
smart lighting vendors in this region. The demand
for smart lighting systems for commercial
applications is majorly driven by emerging
countries such as China, India, and Japan.
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