Overview:

The global specialty lighting market is valued for more than US$ XXX.X Mn in 2019 and expected to reach a value of US$ XXX.X Mn by 2029 with a significant CAGR of around XX.X% over the forecast period of 2019-2029. Specialty lighting products are specifically designed with high intensity light, proper color distribution, and enhanced efficiency. They are gaining more attraction from media and entertainment industry owing to the features of specialty lighting.

Market Dynamics:

Increasing demand for advanced lighting solution with enhanced illumination from entertainment industry is a major factor driving growth of the global specialty lighting market. In addition, demand for specialty light form event management companies is increasing due to rising number of sport events, music concerts, and other events. This is another factor expected to augment growth of the global market over the forecast period.

Key player’s inclination towards strategic merger & acquisitions in order to increase the revenue share along with focus on strengthening the distribution channel is expected to support the growth of target market.

However, factors such as lack of awareness among consumers related to specialty lighting and complex manufacturing process are expected to hamper growth of the global specialty lighting market.

Key Trends:

Introduction of innovative products by major players in order to tap major customer base is the key trend witnessed in the global specialty lighting market. In 2018, Ushio, Inc. manufacturer of bespoke UV, Visible, and IR industrial lighting solutions launched Zylight F8-B² 365nm Black Light a second generation lighting solution for theatrical, special effects, and cinema production applications.

Regional Analysis:

For detailed understanding of market dynamics, the global specialty lighting market is analyzed across key regions viz. North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific accounted for the significant revenue share in 2018, owing to increasing demand for specialty lighting solutions from media and advertising industry. In addition, high presence of major electronics manufacturers along with easy availability of raw material is another factor expected to support the growth of target market.

Rapidly increasing entertainment industry along with rise in number of various concerts such as music concerts is another factor expected to augment growth of the target market.

Scope of the Report:

Detailed Segmentation:

Global Specialty Lighting Market, By Light Type:

• LEDs
• Others (halogen lamps, xenon bulbs, and incandescent lamps)

Global Specialty Lighting Market, By Application:

• Entertainment
  • Stage Lighting
  • Studio Lighting
  • Others
• Medical
  • Surgical
  • Examination
• Purification
  • Air
  • Water
  • Surface

Key Players Covered:

Key players operating in the global market include, Advanced Specialty Lighting Inc., Brandon Medical Co., CREE (IDEAL INDUSTRIES, INC.), Getinge AB, Herbert Waldmann GmbH & Co. KG, Integra Lifesciences Corporation, OSRAM GmbH, Signify Holding B.V., Steris PLC, and Ushio Inc.

Key Features of the Study:

Foresight Market Research provides detailed analysis on global market in our report- Global Specialty Lighting Market by light type, application, and region. The report provides market size (US$ Mn) and compounded annual growth rate (%) for the forecast period: 2019 – 2029, considering 2018 as the actual year. The report also contains in-depth analysis about market drivers, restraints, opportunities, new product launches, product approval, ongoing trends, and regional outlook. The report delivers competitive analysis about leading players in the global specialty lighting market based on various parameters such as company overview, product portfolio, regional presence, financial performance, distribution strategies, key developments, marketing strategies, and future plans. The analysis from the report would acquaint the marketers and management authorities of companies to make the appropriate decision with respect to their future product launch, market expansion, and marketing tactics used overall the globe.