Potential Impact of COVID-19 on Architectural Lighting Market
The demand within the global architectural lighting market is set to increase at a stellar pace in the years to follow. The domain of architectural studies is not just concerned with space optimization and planning, and has also come to include other key areas such as indoor lighting, scalability, and aesthetics.
This factor has played a crucial role in driving sales across the global architectural lighting market. Several architects and design firms lay value on the importance of proper lighting for enhancing the design, appeal, and aesthetics of spaces. Furthermore, there has been an increase in the use of low light technologies for giving a raw and cosy touch to indoor spaces. Several new lighting technologies are expected to spearhead the growth of the global architectural lighting market in the times to follow.
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In this syndicate review, the trend and dynamics pertaining to the growth of the global architectural lighting market have been enunciated. The dependency of the architecture domain on lighting technologies forms the basis of growth within the market. Focus on aesthetics and enhancement of spaces has also played an integral role in market expansion. Over recent years, use of architectural lighting has increased across residential, commercial, and industrial spaces. This is an important trend that could shape the growth graph of the market.
Global Architectural Lighting Market: Notable Developments
- GE Lighting is a premium player that has driven innovation and growth across the global architectural lighting market. However, in a visible setback to the company’s standing, it recently sold its lighting business to Savant Systems. However, it would be interesting to witness the changes and innovative hacks that Savant Systems would bring to the table. The growth dynamics of the global architectural lighting market could also be impacted by this arrangement.
- The development of LED technologies has played a crucial role in driving sales across the global architectural lighting market. It is imperative for architectural planners to understand the benefits served by LEDs. The energy sector is emphasizing on the use of energy-efficient technologies that can help in reducing the use of electricity.
Key Players
- Philips Lighting Holding B.V.
- Feilo Sylvania
- OSRAM GmbH
- TCP International Holdings Ltd.
Global Architectural Lighting Market: Growth Drivers
- Use of Natural Lighting in Indoor Spaces
Several architects focus on designing spaces in a way that can optimize the use of natural light. This has emerged as an accepted trend across offices, commercial buildings, and other premises focused on green technologies. Furthermore, the advent green architectural studies have also paved way for the use of glass ceiling and walls that can help in utilising natural light. The lighting industry has developed a range of new technologies that leverage renewable resources. This is also a prominent trend that has driven sales across the global architectural lighting market. Over the course of the next decade, the architectural lighting market could exhibit multiple new products.
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- Meeting Custom Requirements of End-users
The use of lighting technologies has helped architects in meeting the custom requirements of the masses at affordable prices. Aesthetic light placements complement the design of buildings and indoor spaces. Furthermore, libraries, museums, and healthcare facilities need to be optimized with proper lighting technologies to fit the requirements of the end-users. The demand for attractive architectural lighting across the residential sector has also increased in recent times. The trend of using upbeat, low-tone, bright, or radiant designs in architecture has become possible with the availability of desired lighting technologies. In this context, the global architectural lighting market can safely earn voluminous revenues over the coming times.
