The global ambient lighting market is expected to generate a revenue of $156.5 billion by 2030, increasing from $60.8 billion in 2019, advancing at a 9.2% CAGR during the forecast period (2020–2030). On the basis of type, the market is divided into surface-mounted lights, suspended lights, strip lights, recessed lights, and track lights. The recessed lights division held the major share of the market in 2019.
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These lights can be utilized for an extensive range of settings, such as commercial and residential. Recessed lights further improve the quality of lighting and provide better feel and look to the space. In terms of end user, the market is categorized into automotive, residential, corporate, industrial, healthcare, and hospitality & retail, out of which, the automotive category is predicted to register the faster growth during the forecast period.
The adoption of interior lighting solutions in vehicles has risen significantly, along with which, the production of vehicles has grown substantially as well, thereby driving the demand for ambient lighting solutions in the automotive industry. The Asia-Pacific (APAC) region dominated the ambient lighting market in 2019, and the region is further predicted to account for the largest share of the market during the forecast period, as per a report by P&S Intelligence.
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The adoption of ambient lighting is increasing the commercial and residential in APAC, owing to the increasing disposable income, rising population, and expanding IT market. Within the region, India is predicted advance at the fastest pace. In conclusion, the increasing focus on energy efficiency and stringent government regulations are resulting in the growth of the market.
