North America Lighting Market – Growth & Forecast (2024

North America Lighting Market - Size

Study Period

2018 - 2030

Base Year For Estimation

2023

Forecast Data Period

2024-2030

Historical Data Period

2018-2021

CAGR

7 %

Source: Envision Intelligence Analysis & Experts Insights.

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

Lighting today became more essential, and advancements in lighting technology have made the lighting market more expandable. These are environment-friendly and energy-saving solutions. Rising awareness of green technology is leading to the launch of environmentally friendly lights, and new features such as colour tuning and control over the cloud are pushing the consumers to adopt these products.

North America Lighting Market Size & Growth:

North America Lighting Market size is projected to reach $XX Million by the end of 2024 with a CAGR of XX% during the forecast period. Key Parameters promoting the market growth include LED Lighting in various unique and speciality applications, LED continues to be the future of lighting, increase in sales of vehicles driving the automotive lights. In Automobiles, light is one of the major components, and the growth of the automotive industry will significantly increase the growth of the lighting market. LEDs are the most commonly used lighting types for automotive lighting, and these LEDs are mainly preferred in premium and standard headlamps. These headlamp units are the most expensive units in an automobile.

This Lighting Market has several opportunities that will propel the market growth during the forecast period such as ensuring safety options is an added requirement in automotive lights today, Increase in the demand for energy-efficient lighting options like solar lighting, Laser Lights- a developing headlight technology, connected lighting for homes and offices, giving way to new opportunities.

The lighting industry has started to adopt light-emitting diodes since past five years, and this shift has brought many new opportunities that would not have been possible using traditional lighting technology. From the recent studies, smart lighting systems will continue to enable IoT applications because the prevalence of sensors and connectivity increases in lighting systems and holistic lighting

North America Lighting Market - Growth

Source: Envision Intelligence Analysis & Experts Insights.

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

solutions will be designed for the explicit purpose of analyzing, utilizing, collecting the data gathered by the lighting systems in order to gain productivity within the spaces where the holistic solutions are used.

Due to increasing demand for electricity will be one of the major factors which will propel the market growth since the governments of several countries will start promoting the replacement of traditional lighting such as incandescent bulbs with the energy-efficient lighting like LED lamps.

North America Lighting Market Share:

North America Lighting Market is classified by Type, by Technology, by Application, by Industry Vertical by geography. By Type, the North America Lighting Market is classified as Electrically powered lighting, solar-powered lighting.

By Technology, these are classified as CFL lamps, fluorescent lamps, halogen lamps, high-intensity discharge lamps, light emitting diode lighting, organic led lamps, traditional lighting. Among these, LED light is accounted for the largest market share and is witnessed to have stunning growth during the forecast

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North America Lighting Market - Porter's Five Force Analysis

Source: Envision Intelligence Analysis & Experts Insights.

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

period due to the longer lifetime and higher payback period, and increasing adoption of organic light emitting diode by smartphone manufacturers.

By Applications, these are classified as general lighting, automotive lighting, backlighting. Among these, general lighting accounted for the largest market share and is expected to dominate the market due to the fewer maintenance costs, increased adoption of connected lighting among the developed countries, that enables individuals to control every light fixture through smartphones which leads to the adoption of LED lights, and reduced consumption of consumption will increase the preference of consumers towards LED lights. By Industry Vertical, these are classified as automotive, retail, corporate, hospitality, agricultural, marine & aerospace, government, and healthcare.

North America accounted for the largest revenue contributor through the region witnesses a significant reduction in its revenue share

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