“Global Interior Lighting Market to reach a market value of USD 122.59 Billion by 2031 growing at a CAGR of 5.3%”
The Global Interior Lighting Market size is expected to reach $122.59 billion by 2031, rising at a market growth of 5.3% CAGR during the forecast period.
Rising trends in luxury interiors and artistic lighting designs are key drivers for this segment. Thus, in 2023, the wall grazing & wall lighting segment acquired 17% revenue share in the interior lighting market. This type of lighting is widely used in hospitality, retail, and high-end residential interiors to create dynamic and visually striking environments. The segment’s growth is further supported by the increasing popularity of LED wall lights, which offer energy efficiency, varied color options, and the ability to highlight intricate details with precision.
Governments and organizations across the globe are playing an essential role in promoting the adoption of energy-efficient lighting systems. Numerous countries have introduced policies, incentives, and subsidies to promote the transition to sustainable lighting. These include tax rebates, grants, and discounted pricing for energy-efficient products. Hence, due to these factors, the market for interior lighting is growing.
Additionally, the growing demand for interior lighting is being significantly driven by the trend of premiumization, where consumers increasingly seek high-quality, luxury lighting products and innovative design concepts. Premium lighting is no longer limited to functionality but is now a statement of style, sophistication, and modern living. Therefore, this trend is expected to continue shaping the interior lighting market, driving growth and encouraging manufacturers to develop cutting-edge, premium offerings.
However, the integration of Internet of Things (IoT) technology into smart lighting systems has revolutionized the interior lighting market by offering advanced features like remote control, automation, and energy efficiency. However, these advancements have also introduced significant security vulnerabilities, negatively impacting consumer confidence and demand. With cameras and sensors, connected lights constitute a network of LED fixtures. Hence, such factors may hamper the growth of the market.
By lighting effect, the interior lighting market is segmented into downlighting, perimeter lighting, wall grazing & wall lighting, uplighting, spotlighting, and others. The perimeter lighting segment procured 21% revenue share in the interior lighting market in 2023. This growth is propelled by its ability to provide soft, indirect illumination along the edges of walls, ceilings, and floors, which adds depth and a modern aesthetic to interiors. Increasing adoption in luxury homes, hospitality venues, and high-end commercial projects have further driven its popularity.
Based on end use, the interior lighting market is fragmented into residential, commercial, and industrial. The commercial segment gained 29% revenue share in the interior lighting market in 2023. The segment is propelled by the need for effective and visually appealing lighting solutions in offices, retail stores, hospitality venues, and educational institutions.
By type, the interior lighting market is categorized into ambient lighting, accent lighting, task lighting, general lighting, and mood lighting. In 2023, the ambient lighting segment witnessed 38% revenue share in the interior lighting market. Ambient lighting provides uniform brightness that ensures comfort and visibility, making it essential for creating a well-lit environment.
Based on product, the interior lighting market is divided into ceiling lights, chandeliers, pendant lights, recessed & surface-mounted lights, wall lights, decorative lamps, clamp lights, track lights, spots & spotlights, and others. In 2023, the ceiling lights segment held 23% revenue share in the interior lighting market. New types of ceiling lights' cost savings and technological improvements are anticipated to drive the growth of their demand.
Free Valuable Insights: Global Interior Lighting Market size to reach USD 122.59 Billion by 2031
Region-wise, the interior lighting market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America region acquired 29% revenue share in the interior lighting market in 2023. The U.S. and Canada have a strong focus on green building initiatives and compliance with stringent energy regulations, encouraging the adoption of LED and IoT-enabled lighting solutions.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 82.02 Billion |
| Market size forecast in 2031 | USD 122.59 Billion |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 5.3% from 2024 to 2031 |
| Number of Pages | 317 |
| Number of Tables | 550 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Lighting Effect, Product, Type, End Use, Region |
| Country scope |
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| Companies Included | Koninklijke Philips N.V., Lena Lighting S.A., Karice Lighting, Jaquar Group, WLS Lighting Systems, Inc, Wipro Lighting (Wipro Enterprises Private Limited), Trilux Gmbh, EST Lights, ERCO GmbH and Russell Lighting |
By Lighting Effect
By Product
By Type
By End Use
By Geography
This Market size is expected to reach $122.59 billion by 2031.
Growing Need for Energy-Efficient Lighting Systems are driving the Market in coming years, however, Security Concerns with IoT Smart Lighting restraints the growth of the Market.
Koninklijke Philips N.V., Lena Lighting S.A., Karice Lighting, Jaquar Group, WLS Lighting Systems, Inc, Wipro Lighting (Wipro Enterprises Private Limited), Trilux Gmbh, EST Lights, ERCO GmbH and Russell Lighting
The expected CAGR of this Market is 5.3% from 2023 to 2031.
The Downlighting segment is leading the Market by Lighting Effect in 2023; thereby, achieving a market value of $41.6 billion by 2031.
The Asia Pacific region dominated the Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $46.8 billion by 2031.
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