Ambient Lighting Market Booming Worldwide with Latest Trend and Future Scope by 2027
The ambient lighting market is estimated to be USD 58.0 billion in 2020 and projected to reach USD 88.3 billion by 2025, at a CAGR of 8.8%. The key factors contributing to the growth of the market are modernization of infrastructure and upcoming smart city projects in developing economies, government initiatives and policies for energy savings, and increasing consumer preferences for better interior designing with energy-efficient lighting systems. Increasing awareness regarding energy-efficient lighting solutions and stringent government regulations for the implementation of such solutions across the US, the UK, Germany, and China are proving to be some of the other factors driving the growth for the ambient lighting market. The major players in the market with a significant presence across various geographies in the Ambient lighting market are Signify N.V. (Netherlands), GE (GE Lighting) (US), Acuity Brands (US), Hubbell Lighting (US), and OSRAM Licht AG (Germany). Some of the other...