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Hardware Segment in Ambiance Lighting Market is Excepted to Hold Largest Share by 2024

Author : Ronak Bora | Published Date : 2019-04-12 

Ambiance Lighting Market Report added by Global Market Insights, Inc. offers industry size, share, growth, trends and forecast analysis up to 2024. The market report also covers top key players, porters five forces analysis and market segmentation in detail. This report examines the global Ambiance Lighting Market and provides information regarding the revenue for the period 2017 to 2024.

Based on product, ambiance lighting market is categorized in to hardware and software. Hardware includes lamps luminaries, casing and other components. Hardware hold largest share as it used in most of residential as well as industrial application. Demand of hardware light is likely to increase in forecast period. Software includes control systems which enables color change and on/off control. Increasing demand for smart lighting will support the software requirements.

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Increasing application in decorative illumination for residential and commercial purpose fuels the demand for ambiance lighting market. Increasing industrial projects and upgradation of infrastructure in developing countries will support the industry growth during forecast period. Stringent government regulation on implementation of energy efficient lights will boost the demand for low energy consumption illumination alternatives.

Based on application, ambiance lighting market is categorized in to automotive, construction industries, infrastructure, residential, hospitality and retail. Residential applications dominate the overall share followed by automotive. The product is widely utilized in internal use for background light like TV, monitors, instruments, closet, bar counters, frames, painting, and external studio. Wide application areas will boost the demand from residential and commercial segment during forecast period.

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Asia Pacific is estimated to dominate overall ambiance lighting market owing to wide usage of the products in automotive, hospitality, retail, architecture & commercial industries including residential segment. Strong product demand in with highest consumers in various application will boost the overall industry growth.

North America is expected to witness significant growth during the forecast timeframe owing to high demand for energy efficient lighting. Moreover, presence of end-user in automotive & residential application will boost the demand of ambiance lighting market share in forecast period.

Some of the participants in ambiance lighting market are Osram, Philips, Acuity Brands, Wipro, GE, Hubbell lighting, Cree, Eaton, Thorn Lighting, Hafele. Competitors focus on developing low cost products available in various colors, shape and size to gain market share. Companies also use marketing strategies to build brand name and increase awareness about their product.

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About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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