Artificial Lights Market By Product Type (LED Lights, Incandescent Lights, Fluorescent Lights, Halogen Lights, CFL Lights), By Application (Residential Lighting, Commercial Lighting, Industrial Lighting, Outdoor Lighting, Architectural Lighting), By End-User Industry (Residential, Retail, Healthcare, Automotive, Commercial), By Distribution Channel (Online, Offline), and By Region; Global Insights & Forecast (2024 – 2030)

As per Intent Market Research, the Artificial Lights Market was valued at USD 84.1 billion in 2023 and will surpass USD 107.6 billion by 2030; growing at a CAGR of 3.6% during 2024 - 2030.

The artificial lights market is experiencing a dynamic evolution, driven by advancements in lighting technologies and growing demand for energy-efficient solutions across various sectors. As energy-efficient lighting solutions become the norm, consumers and businesses are increasingly opting for LED lights due to their long-lasting, low energy consumption, and eco-friendly properties. The market is poised for substantial growth as residential, commercial, and industrial sectors continue to prioritize energy-saving technologies and smart lighting solutions.

LED Lights Segment is Largest Owing to Energy Efficiency and Longevity

Among the various types of artificial lights, LED lights dominate the market. The significant advantages of LED lighting, including energy efficiency, durability, and lower heat emissions, have made them the preferred choice for both residential and commercial applications. LEDs use up to 75% less energy and last 25 times longer than traditional incandescent bulbs. These factors have spurred widespread adoption across a variety of applications, particularly in residential lighting and commercial spaces like offices, retail outlets, and public infrastructure. Furthermore, the growing trend of smart homes and connected devices has led to the integration of LED lights with IoT technologies, further expanding the market for LED solutions.

Commercial Lighting Segment is Fastest Growing Due to Demand for Smart Lighting Solutions

The commercial lighting segment is the fastest-growing in the artificial lights market, primarily driven by the increasing demand for energy-efficient and smart lighting solutions in offices, retail establishments, and other commercial properties. Businesses are prioritizing sustainability and reducing operational costs, which is leading them to adopt energy-efficient lighting systems. The rise in the construction of commercial buildings, coupled with the trend toward retrofitting older buildings with modern, smart lighting systems, is contributing to this growth. Moreover, the integration of automation and IoT in lighting systems is making commercial lighting more adaptable and efficient, adding to its appeal.

Healthcare Sector in the End-User Industry is Largest Due to Need for Specialized Lighting Solutions

In the end-user industry, the healthcare sector stands out as the largest user of artificial lighting solutions. Hospitals, clinics, and healthcare facilities require specialized lighting systems that promote patient well-being and support medical procedures. Proper lighting is crucial in healthcare environments for improving visibility in operating rooms, enhancing the mood and comfort of patients, and helping medical professionals perform delicate tasks. Additionally, there is a rising demand for energy-efficient lighting in healthcare facilities to reduce energy consumption and operational costs. This trend is further reinforced by government regulations and policies promoting sustainability in healthcare buildings.

Online Distribution Channel is Fastest Growing Due to E-commerce Trends

The online distribution channel is the fastest-growing segment in the artificial lights market. E-commerce platforms are rapidly becoming the preferred method for purchasing lighting solutions due to their convenience, broader product selection, and often lower prices. Consumers and businesses are increasingly using online platforms to purchase lighting products, ranging from residential to industrial applications. The rise of online retail, coupled with an increasing number of product reviews and online guides for energy-efficient lighting, has encouraged greater adoption of artificial lights through e-commerce. This growth is particularly noticeable in regions with advanced internet penetration and increasing digital shopping trends.

Asia-Pacific Region is Fastest Growing Due to Rising Urbanization and Infrastructure Development

The Asia-Pacific region is witnessing the fastest growth in the artificial lights market, driven by rapid urbanization, infrastructure development, and increasing government investments in smart city projects. Countries like China, India, and Japan are major contributors to the demand for artificial lighting solutions. The growing middle class and the shift towards energy-efficient solutions are also key factors driving market growth in this region. Furthermore, the increasing adoption of smart lighting systems in both residential and commercial sectors is expected to sustain this growth trajectory over the forecast period. As cities in the region continue to expand, the demand for artificial lighting solutions will continue to rise, making Asia-Pacific a key region in the global market.

Leading Companies and Competitive Landscape

The artificial lights market is highly competitive, with numerous players focusing on innovation, energy efficiency, and sustainability. Leading companies in this market include Philips Lighting, Osram Licht AG, General Electric, Acuity Brands, and Cree Inc. These companies are heavily investing in the development of smart lighting solutions, leveraging IoT technology, and focusing on energy-efficient products to meet the growing demand for sustainable lighting solutions. Furthermore, mergers and acquisitions, such as Philips’ acquisition of WiZ Connected, and new product launches continue to shape the competitive landscape. With the increasing importance of smart homes and energy-efficient technologies, companies are also focusing on offering customized lighting solutions for various sectors, including residential, commercial, and healthcare. As competition intensifies, leading players are expected to maintain their positions by continuously innovating and expanding their product portfolios.

List of Leading Companies:

• Philips Lighting
• Osram Licht AG
• General Electric (GE) Lighting
• Acuity Brands
• Cree Inc.
• Signify
• Eaton Corporation
• Samsung Electronics
• LG Electronics
• Panasonic Corporation
• Havells India Ltd.
• Lutron Electronics
• Zumtobel Group
• Schreder
• Toshiba Lighting

Recent Developments:

• Philips acquired WiZ Connected, a smart lighting solutions company, to strengthen its position in the smart home lighting market.
• Osram introduced an innovative LED lighting portfolio with higher energy efficiency and enhanced performance to meet industrial and commercial demands.
• GE Lighting launched a new range of outdoor LED lighting solutions designed to reduce energy consumption and maintenance costs for large-scale commercial projects.
• Cree Inc. has partnered with several IoT firms to enhance its smart lighting product lines, integrating advanced sensors and connectivity for better user control and efficiency.
• Eaton's new smart lighting solutions received regulatory approval in several key markets, signaling the growing trend of intelligent and sustainable lighting solutions.

Report Scope: