The global commercial lighting market size reached USD 9.75 billion in 2021 and is expected to register a revenue CAGR of 21.4% during the forecast period, according to latest analysis by Emergen Research. Market revenue growth is attributed to the growing need for more energy-efficient lighting systems, rapid infrastructure development, and ongoing and upcoming smart city projects in developing countries. Smart lighting use in commercial and industrial applications has been steadily increasing in recent years, owing to a growing focus on energy conservation. The use of such energy-efficient LED lighting technology reduces maintenance expenses significantly as they use about half as much electricity as standard halogen, incandescent, and fluorescent lights.
Furthermore, such commercial lighting emits no UV light and operates at a low voltage, as well as having a long lifespan, design flexibility, and durability. For instance, LEDs typically last 30,000–50,000 hours, depending on the fixture, compared to 1,000 hours for an incandescent bulb and 8,000 hours for a fluorescent lamp, respectively. As a result of LED luminaires extended life, they have minimal maintenance costs, which helps cut energy expenditure and bills, and is expected to drive revenue growth in the market between 2022 and 2030.
Get a sample of the report @ https://www.emergenresearch.com/request-sample/1274
The report also profiles established and emerging players of the market, covering the business overview, product portfolio, strategic alliances, and business expansion strategies.
Key players in the market include GE Current, A Daintree Company, Hubbell, Schneider Electric, ABB, Zumtobel Group, Acuity Brands Lighting Inc., Wipro Lighting, Siteco GmbH, Cree Lighting, WAC Lighting, and Signify Holding.
Key Points of Commercial Lighting Market:
To get leading market solutions, visit the link below: https://www.emergenresearch.com/industry-report/commercial-lighting-market
The report studies the historical data of the Commercial Lighting Market and offers valuable information about the key segments and sub-segments, revenue generation, demand and supply scenario, trends, and other vital aspects.
Emergen Research has segmented the global commercial lighting market based on light type, installation type, technology type, application, end-use, and region:
The complete regional analysis covers:
Request customization of the report @ https://www.emergenresearch.com/request-for-customization/1274
Thank you for reading our report. Customization of the report is available. To know more, please connect with us, and our team will ensure the report is customized as per your requirements.
About Us:
At Emergen Research, we believe in advancing with technology. We are a growing market research and strategy consulting company with an exhaustive knowledge base of cutting-edge and potentially market-disrupting technologies that are predicted to become more prevalent in the coming decade.
Press Release Available @ https://www.emergenresearch.com/press-release/global-commercial-lighting-market
Media ContactCompany Name: Emergen ResearchContact Person: Eric LeeEmail: Send EmailPhone: +1 (604) 757-9756Address:14671 110 Avenue Surrey, British Columbia, V3R2A9City: SurreyState: British ColumbiaCountry: CanadaWebsite: www.emergenresearch.com/industry-report/nuclear-materials-transportation-market