The specialty lighting market is projected to grow at a CAGR 4.19% rate during the forecast period. The driving factors for the market includes increasing number of live music events and concerts; stringent government regulations for air, water, and surface disinfection; growing penetration and adoption of surgical lighting for minor and major surgical procedures; and decreasing cost and increasing penetration of LEDs
Entertainment expected to hold largest market share of specialty lighting market during forecast period.
Entertainment lighting includes lamps which maintain the focus of the audience and provide proper intensity, color distribution, and direction to the performers. Entertainment lighting has various applications, including stage, studio, and others. Stage lighting leads the entertainment lighting segment, followed by studio and others, and this trend is expected to remain the same during the forecast period. Due to the increasing number of musical events, the demand for specialty lighting for entertainment is likely to increase in the coming years.
Surgical lighting expected to be largest market of medical lighting application of specialty lighting. Surgical lights are used to assist the surgeons and other healthcare professionals during major as well as minor surgical procedures. With the increasing demand for a unique balance of luminance of light and shadow management, the demand for shadowless surgical lights is expected to increase, and subsequently drive the market for surgical lighting in the coming years.
North America to account for largest market size during forecast period. North America is popular for holding leading music festivals such as Lollapalooza, Bonnaroo, Bumbershoot, and Electric Zoo Festival. Growing participation in music festivals and increasing urbanization have driven the entertainment lighting market in the region.
Key market players includes Signify Holding (Signify, Netherlands), OSRAM Licht AG (OSRAM, Germany), Cree, Inc. (CREE, US), Ushio, Inc. (USHIO, Japan), Advanced Specialty Lighting, Inc. (Advanced Specialty Lighting, US), Getinge AB (Getinge, Sweden), Herbert Waldmann GmbH & Co. KG (Waldmann, Germany), Brandon Medical Co Ltd (Brandon Medical, England), Integra LifeSciences Corporation (Integra LifeSciences, US), and Steris PLC (Steris, US).
Key Questions Addressed by the Report
· Where will all these developments take the industry in the mid to long term?
· What are emerging application areas that are expected to adopt specialty lighting?
· Which application of entertainment in the market is growing at the highest rate?
· Which type of application of medical lighting is expected to penetrate significantly in the market?
· What type of light source is the most opportunistic for light manufacturers in the specialty lighting market?
1.1. Market Definition
1.2. Study Scope
1.3. Study Period
1.4. Market Stakeholders
2. Research Methodology
2.1. Secondary Research
2.2. Primary Research
2.3. Research Design
2.4. Data Validation
2.5. Limitations and Assumptions
3. Market Dynamics
3.1.1.Increasing Number of Live Music Events and Concerts
3.1.2.Stringent Government Regulations for Air, Water, and Surface Disinfection
3.1.3.Increasing Adoption of Surgical Lighting for Minor and Major Surgical Procedures
3.1.4.Increasing Penetration and Decreasing Cost of LEDs
3.2.1.Perception of Higher Cost of Installation and Limited Awareness About Payback Periods
3.2.2.Misconceptions Regarding UV Purification Systems
3.3.1.Increasing Demand for Ultrapure Water From End-Use Industries
3.3.2.High Growth Prospects in New Applications
4. Executive Summary
5. Speciality Lighting Market, By Light Source
6. Speciality Lighting Market, By Application
6.3. UV lamps
7. Speciality Lighting Market, By Region
7.1. North America
7.2.4.Rest of Europe
7.3. Asia Pacific
7.3.5.Rest of APAC
7.4. Rest of the World
8. Company Profiles
8.1. Leading Companies in Speciality Lighting Market
8.1.1.Signify Holding (Formerly Philips Lighting)
8.1.5.Advanced Specialty Lighting
8.1.10. Steris PLC
8.2. Other Companies in Speciality Lighting Market
*Company introduction, financial information, recent developments, SWOT analysis
9. Conclusion and Recommendations
10.2. Related Reports