Market Overview:
The global artificial light sources market is expected to grow at a CAGR of 6.5% during the forecast period 2018-2030. The growth in this market can be attributed to the increasing demand for energy-efficient lighting solutions, rising awareness about the benefits of LED lights, and growing demand for artificial light sources in commercial applications. Based on type, the global artificial light sources market is segmented into LED light source, xenon light source, and others. The LED light source segment is expected to grow at a CAGR of 7.8% during the forecast period due to its high efficiency and low power consumption as compared to other types of lighting solutions. Based on application, the global artificial light sources market is segmented into residential and commercial applications.
Product Definition:
Artificial light sources are devices that produce light. They can be used to replace natural light, or to supplement it. Artificial light sources are important because they allow us to see in the dark, and they can be used to create specific types of lighting effects.
LED Light Source:
LED light source is a type of semiconductor lighting that produces light by means of electron movement between two electrodes, which creates an electric current to generate light. The main reason for its high adoption rate in the market is due to its many benefits such as it’s more efficient than incandescent lights and can last up to 50 times longer. Moreover, it has no heat-producing components like incandescent lights do, which makes them safer to use.
Xenon Light Source:
Xenon light source is a gas that produces light when exposed to electrical current. It has three main components, the cathode ray tube (CRT), an electron-emitting diode (ED) and an anode. ED is used to produce white light by selective emission of electrons while the CRT provides the red color component through its plasma emissions. The combination of all these produces pure bright yellowish-white light known as xenon lighting or neon lighting.
Application Insights:
The commercial segment held the largest share of more than 70.0% in 2017. Artificial light sources are widely used in various commercial applications such as retail stores, corporate offices, hospitality and healthcare facilities to enhance aesthetic appeal and promote productivity. The growing adoption of LED-based light sources for commercial application is expected to fuel the market growth over the forecast period.
The residential segment is projected to exhibit a CAGR exceeding 11% from 2018 to 2030 owing to increasing demand for energy-efficient lighting solutions that offer high lumen output with a small footprint and low cost of ownership over traditional incandescent or fluorescent lamps counterparts.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing regional market over the forecast period. The growth can be attributed to increasing adoption of artificial light in emerging economies, such as China and India. Rapidly expanding commercial sector in these countries has led to increased adoption of artificial light for outdoor lighting purposes, which will drive industry expansion over the next eight years.
Europe accounted for a significant share owing to early acceptance of innovative lighting technologies across various industries including retail, hospitality and sports & entertainment complexes. Moreover, growing popularity of LED lights among consumers owing to their energy efficiency is anticipated to further fuel industry growth during the forecast period. North America also held a considerable share due its high demand from residential application segment due mainly its use in homes across U.S.
Growth Factors:
- Increasing demand for energy-efficient lighting solutions
- Rising awareness about the benefits of LED lights
- Proliferation of smart lighting systems and controls
- Growing demand for artificial light sources in automotive applications
- Emerging opportunities in the Asia Pacific region
Scope Of The Report
Report Attributes
Report Details
Report Title
Artificial Light Sources Market Research Report
By Type
LED Light Source, Xenon Light Source, Others
By Application
Residential, Commercial
By Companies
Philips, LEDVANCE, NEC Lighting, KEYENCE, USHIO LIGHTING, Philips
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
210
Number of Tables & Figures
147
Customization Available
Yes, the report can be customized as per your need.
Global Artificial Light Sources Market Report Segments:
The global Artificial Light Sources market is segmented on the basis of:
Types
LED Light Source, Xenon Light Source, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Residential, Commercial
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Philips
- LEDVANCE
- NEC Lighting
- KEYENCE
- USHIO LIGHTING
- Philips
Highlights of The Artificial Light Sources Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- LED Light Source
- Xenon Light Source
- Others
- By Application:
- Residential
- Commercial
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Artificial Light Sources Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Artificial light sources are devices that emit light for the purpose of illumination. They can be classified by their source: incandescent, fluorescent, LED, and OLED.
Some of the key players operating in the artificial light sources market are Philips, LEDVANCE, NEC Lighting, KEYENCE, USHIO LIGHTING, Philips.
The artificial light sources market is expected to grow at a compound annual growth rate of 6.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Artificial Light Sources Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Artificial Light Sources Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Artificial Light Sources Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Artificial Light Sources Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Artificial Light Sources Market Size & Forecast, 2018-2028
4.5.1 Artificial Light Sources Market Size and Y-o-Y Growth
4.5.2 Artificial Light Sources Market Absolute $ Opportunity
Chapter 5 Global Artificial Light Sources Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Artificial Light Sources Market Size Forecast by Type
5.2.1 LED Light Source
5.2.2 Xenon Light Source
5.2.3 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Artificial Light Sources Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Artificial Light Sources Market Size Forecast by Applications
6.2.1 Residential
6.2.2 Commercial
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Artificial Light Sources Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Artificial Light Sources Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Artificial Light Sources Analysis and Forecast
9.1 Introduction
9.2 North America Artificial Light Sources Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Artificial Light Sources Market Size Forecast by Type
9.6.1 LED Light Source
9.6.2 Xenon Light Source
9.6.3 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Artificial Light Sources Market Size Forecast by Applications
9.10.1 Residential
9.10.2 Commercial
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Artificial Light Sources Analysis and Forecast
10.1 Introduction
10.2 Europe Artificial Light Sources Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Artificial Light Sources Market Size Forecast by Type
10.6.1 LED Light Source
10.6.2 Xenon Light Source
10.6.3 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Artificial Light Sources Market Size Forecast by Applications
10.10.1 Residential
10.10.2 Commercial
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Artificial Light Sources Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Artificial Light Sources Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Artificial Light Sources Market Size Forecast by Type
11.6.1 LED Light Source
11.6.2 Xenon Light Source
11.6.3 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Artificial Light Sources Market Size Forecast by Applications
11.10.1 Residential
11.10.2 Commercial
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Artificial Light Sources Analysis and Forecast
12.1 Introduction
12.2 Latin America Artificial Light Sources Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Artificial Light Sources Market Size Forecast by Type
12.6.1 LED Light Source
12.6.2 Xenon Light Source
12.6.3 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Artificial Light Sources Market Size Forecast by Applications
12.10.1 Residential
12.10.2 Commercial
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Artificial Light Sources Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Artificial Light Sources Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Artificial Light Sources Market Size Forecast by Type
13.6.1 LED Light Source
13.6.2 Xenon Light Source
13.6.3 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Artificial Light Sources Market Size Forecast by Applications
13.10.1 Residential
13.10.2 Commercial
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Artificial Light Sources Market: Competitive Dashboard
14.2 Global Artificial Light Sources Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Philips
14.3.2 LEDVANCE
14.3.3 NEC Lighting
14.3.4 KEYENCE
14.3.5 USHIO LIGHTING
14.3.6 Philips
