According to Ameco Research, the global Specialty Lighting Market size is estimated to grow a CAGR above 6% over the forecast timeframe and reach a market value of around USD 10,429 million by 2030.
Specialty lighting is illumination that is designed and manufactured with a specific shape, framework, and structure and has special built-in lighting characteristic features. Due to their size and functionality, specialty lighting is used in applications where conventional lighting is insufficient. Retail, healthcare, commercial, and amusement industries all make use of specialty lighting. The increasing number of incidents, such as live performances and sports competitions, is increasing the demand for specialty lighting. Smart lighting solutions and the Internet of Things (IoT) are also expected to help the market grow.
Specialty lighting refers to light sources that are used for purposes other than illumination. Specialty lighting comes in a multitude of visible light sources, such as halogen, xenon, incandescent, and LED. These lamps and bulbs are designed with a specific shape, base layout, and special built-in features to perform a specific lighting activity, such as endoscopy procedures, surgical suites, dental procedures, water disinfection, and follow pinpoint lightings, among others. They are used in a wide range of industries, including retail, lodging, business, healthcare, education, recreation, housing, and commercial.
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Global Specialty Lighting Market Growth Aspects
The increasing number of sports activities, live events, and musical performances around the world, as well as the rapidly expanding entertainment industry, are increasing the demand for specialty light sources. Furthermore, the healthcare industry's increased adoption of lighting systems for enhanced brightness and medical techniques is propelling the specialty lighting industry forward. Strict government regulations for water, air, and surface disinfection, as well as the increasing use of UV rays for water treatment, are driving up demand for specialty lighting.
The COVID-19 pandemic, which has resulted in lockdowns and curfews around the world, has slowed market growth. However, caused by the construction of provisional health facilities and the rising demands for minimally invasive and examination infrastructure, requirement for healthcare lighting is projected to increase. Several nations around the globe are outnumbering emergency rooms, which must be addressed by building new exclusion and rehabilitation wards as well as purchasing more medical devices and lighting.
The widespread use of minimally invasive illumination for major and minor surgeries has had a significant impact on the growth of the specialty lighting market in recent years. Furthermore, the rapidly increasing penetration and decreasing cost of LEDs is fueling the growth of the specialty lighting market. Furthermore, the rapidly increasing need for artificially enhanced illumination in the entertainment, healthcare, and other industries, as well as the widespread adoption of lighting solutions for specific purposes, will function as an important growth driver for the specialty lighting market. Furthermore, the steadily increasing demand for specialty lighting from classical music sets, television show production companies, and the movie industry are driving the specialty lighting industry forward.
However, the high cost of construction and a lack of knowledge about return rates are the main impediments to the expansion of specialty lighting in the forecast timeframe, whereas various misconceptions about Ultra violet treatment technologies have the potential to strengthen specialty lighting market growth during the forecast period.
Regional Overview
North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa are the regional classification of the global Specialty Lighting market. North America is expected to lead the specialty lighting market over the forecasting years due to the region's healthy healthcare system, which has increased demand for orthopedic surgery and investigation lighting, as well as the region's massive presence of well-established lighting companies providing services for a wide range of industries such as medical, water treatment, aquarium, horticulture, entertainment, and seaports. Furthermore, a well-functioning healthcare system in the United States and Canada contributes to increased demand for minimally invasive and physical exam lighting.
Furthermore, Asia-Pacific is expected to grow significantly during the forecast period due to the increasing use of specialty lighting across several industries in this region. Furthermore, product demand is being driven by the region's rapidly expanding end-use sectors of the economy, such as entertainment.
Market Segmentation
The global specialty lighting market has been segmented by Ameco Research based on light type, application, and medical type. Based on the light type, the market is divided into LED, and others. Based on the application, the market separated into entertainment, medical, purification, and others. Based on medical type, the market is categorized surgical, and examination.
Major Players
Some key players covered global in the Specialty Lighting industry are Advanced Specialty Lighting, Signify Holding B.V., Cree Lighting, Osram Licht AG, Getinge, Integra Lifesciences, Steris Corporation, Ushio, Inc., Brandon Medical, and LG Electronics Inc.
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