Commercial Lighting Market Size (2024 - 2029)

Commercial Lighting Market Analysis

The Commercial Lighting Market size is estimated at USD 15.93 billion in 2024, and is expected to reach USD 41.19 billion by 2029, growing at a CAGR of 20.93% during the forecast period (2024-2029).

The growth of the studied market is being significantly fueled by the ongoing and upcoming smart city projects in several nations, the increased focus of governments worldwide on energy consumption, the rising demand for LED lights and luminaires for outdoor applications, and the expanding acceptance of standard protocols for lighting control systems.

Commercial lighting may be customized to fit any facility and its operations based on use. Maintenance requirements, brightness level, and warranties are all significant factors in commercial lighting. Many people can be accommodated in a commercial facility for various activities, including shopping, employment, entertainment, and medical inspection. A lighting design company creates designs that reflect the activity carried out in the facility to ensure that workers are comfortable and that the lux level requirements and the energy efficiency criteria are adequate.

Commercial lighting design must consider light fixtures' use, characteristics, and purpose. T5 and compact fluorescent lights are typical business lighting design fixtures, although LED light fixtures are gaining popularity because of their lower prices.

Well-designed lighting fixtures may illuminate a room's surroundings and create a positive atmosphere. The lighting design at hospitals, hotels, clubs, offices, retail stores, and other commercial facilities must be carefully considered. This is so that business owners may make their location seem welcoming to guests or clients by using a well-designed commercial lighting framework.

Furthermore, it is now simpler for firms to highlight their interiors and design a functional workspace thanks to technology advancements like artificial intelligence and LED lighting. The commercial lighting industry always innovates to lower energy costs, greatly impacting lighting products.

Commercial Lighting Industry Segmentation

Commercial lighting is utilized in places not residential, industrial, or manufacturing-related, such as offices, shops, institutions, hospitals, and government buildings. Commercial lighting often has a more significant initial cost, a longer lifespan, better durability, higher maintenance and repair expenses, and better energy-saving choices than other forms of lighting. The most crucial purpose in business buildings is often finishing a task or activity. To guarantee that employees working in the area are comfortable and that the lux level requirements and energy efficiency standards are appropriate, a lighting design business should produce designs representing the sort of activity conducted in the facility.

The Global Commercial Lighting Market is segmented by Type (Lamps, Luminaries), Lighting Type (LED-based lighting, Traditional), End-user (Commercial Offices, Retail, Hospitality, and Leisure (Restaurants and Sporting facilities), Healthcare), and Geography (North America, United States, Canada, Europe (United Kingdom, Germany, France, Rest of Europe), Asia-Pacific (China, Japan, India and Rest of Asia-Pacific), Latin America, Middle East and Africa). The report offers the market size in value terms in USD for all the abovementioned segments.