Specialty Lighting Market

Specialty lighting can be defined as the type of lighting that serves a specific purpose beyond just illumination. The specialty lightings are available with various light sources, including incandescent, halogen, xenon, and LED. These bulbs and lamps are developed with a particular shape, base design, and special built-in features to perform a particular lighting task, including water disinfection, surgical suites, endoscopy procedures, dental procedures, and follow spots lightings, among other tasks. They are used across a wide range of sectors that includes retail, hospitality, office, healthcare, educational, entertainment, residential, and commercial.

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The increasing number of live events, sports competitions, and music concerts all across the world, along with the rapidly growing entertainment industry, are certain factors boosting the demand for specialty lighting solutions. Additionally, increasing adoption of lighting solutions for enhanced illumination and surgical procedures in healthcare sector is further augmenting the growth of the specialty lighting market. Stringent government regulations for air, water, and surface disinfection, coupled with the growing adoption for UV lights for water purification are also contributing to the rise in the demand for specialty lightings.

Continuous technological advancements that include IoT, smart lighting solutions, and WiFi controlled lighting are also expected to support market growth. The smart lights connected via an app are widely used across clubs, hotels, events, auditorium, smart homes, which are expected to propel the market growth during the forecast period. However, higher installation costs and limited awareness about payback periods of specialty lights are expected to hinder the growth of the market during the forecast period.

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Based on the light source, the market is segmented into LED and other light sources. The LED segment is expected to dominate the market over the forecast period. This is primarily due to the various advantages offered by LED lights such as higher durability, low power consumption, directional emissions, low heat emission, design flexibility, and low voltage operation. Moreover, LED lights are ideal for numerous applications including night lighting, art lighting, outdoor lighting, surgical lighting, signage lightings in various industries such as automotive, entertainment, medical, residential, and electronics, which is further escalating the growth of the segment.

Based on application, the market is segmented into entertainment, medical, and UV lamps. The medical application segment is anticipated to grow at a higher CAGR during the forecast period mainly due to the widespread use of specialty lights for various applications including Light therapy and phototherapy treatments, sterilize surgical equipment, dental procedures, and others. Moreover, the outbreak of the COVID-19 pandemic has further surged the demand for medical lighting owing to the increasing construction of temporary hospitals, isolation and treatment wards, along with the growing need for surgical and examination facilities. All these factors are expected to stimulate the growth of the market during the forecast period.

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Based on the region, Asia-Pacific region is anticipated to lead the specialty lighting market during the forecast period. This is primarily due to the growing demand of speciality lights from entertainment industry for stage lightings, concert focus lightings, studio lightings, and other applications. The increasing number of hospitals in developing countries, including China, Japan, India, and South Korea, is also expected to escalate the demand for specialty lights during the forecast period. Moreover, the rise in per capita disposable incomes, growing urbanization, and the increasing number of industries, including electronics, automotive, entertainment, hospitality, are further stimulating the growth of the specialty lightings market.

Various notable players operating in the global speciality lighting market include Signify Holding, OSRAM Licht AG, Cree, Inc., Ushio, Inc., Advanced Specialty Lighting, Inc., Getinge AB, Herbert Waldmann GmbH & Co. KG, Brandon Medical Co Ltd., Integra LifeSciences Corporation, and Specialty Lighting Industries, Inc., among others. 

Key Developments: 

• • In 2020, Signify Holding, one of the leading companies in lighting, acquired Cooper Lighting Solutions from Eaton Corporation Plc. The transaction is expected to strengthen Signify’s market position and growth in the North American lighting market.
  • In 2019, Signify Holding, one of the leading companies acquired WiZ Connected, a developer of the WiZ Wi-Fi-based connected lighting ecosystem. The addition of WiZ was expected to enhance the product portfolio of Signify and helped in extending its business into the Wi-Fi-based smart lighting market.
  • In 2019, SLD Laser launched LaserLight sources for automotive and specialty lighting applications. This launch aimed to enhance the product portfolio of the company in the specialty lightings market.

The global Speciality Lighting market has been segmented on the basis of light source, application, and region. Based on the light source, the market is segmented into LED and other light sources. On the basis of application, the market is segmented into entertainment, medical, and UV lamp.

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Key questions answered in this research report:

• • At what pace is global Speciality Lighting market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Speciality Lighting market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Speciality Lighting market?
  • Which light source generated maximum revenues in 2019 and identify the most promising light source during the forecast period?
  • What are the various applications of global Speciality Lighting market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Speciality Lighting Market by Light Source

• • LED (Light-Emitting Diode)
  • Others

Global Speciality Lighting Market by Application

• • Entertainment
    • Stage lighting
    • Studio lighting
    • Others
  • Medical
    • Surgical lighting
    • Examination lighting
  • UV lamps
    • Air purification
    • Water purification
    • Surface purification
  • Others

Global Speciality Lighting Market by Region

• • North America Speciality Lighting Market (Option 1: As a part of the free 25% customization)
    • North America Speciality Lighting Market by Light Source
    • North America Speciality Lighting Market by Application
    • US Speciality Lighting Market All-Up
    • Canada Speciality Lighting Market All-Up
  • Europe Speciality Lighting Market (Option 2: As a part of the free 25% customization)
    • Europe Speciality Lighting Market by Light Source
    • Europe Speciality Lighting Market by Application
    • UK Speciality Lighting Market All-Up
    • Germany Speciality Lighting Market All-Up
    • France Speciality Lighting Market All-Up
    • Spain Speciality Lighting Market All-Up
    • Rest of Europe Speciality Lighting Market All-Up
  • Asia-Pacific Speciality Lighting Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Speciality Lighting Market by Light Source
    • Asia-Pacific Speciality Lighting Market by Application
    • China Speciality Lighting Market All-Up
    • India Speciality Lighting Market All-Up
    • Japan Speciality Lighting Market All-Up
    • Rest of APAC Speciality Lighting Market All-Up
  • RoW Speciality Lighting Market (Option 4: As a part of the free 25% customization)
    • RoW Speciality Lighting Market by Light Source
    • RoW Speciality Lighting Market by Application
    • Brazil Speciality Lighting Market All-Up
    • South Africa Speciality Lighting Market All-Up
    • Saudi Arabia Speciality Lighting Market All-Up
    • UAE Speciality Lighting Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Speciality Lighting Market All-Up

Global Speciality Lighting Market Players (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Signify Holding
  • OSRAM Licht AG
  • Cree, Inc.
  • Ushio, Inc.
  • Advanced Specialty Lighting, Inc.
  • Getinge AB
  • Herbert Waldmann GmbH & Co. KG
  • Brandon Medical Co Ltd.
  • Integra LifeSciences Corporation
  • Specialty Lighting Industries, Inc.