The specialty lighting market is projected to reach USD 7.8 billion by 2027 from USD 5.7 billion in 2022; it is expected to grow at a CAGR of 6.6% from 2022 to 2027.
UV LEDs have the ability to decontaminate surfaces, air, and water that have come in contact with the SARS-CoV-2 virus. UV LEDs are also used for sanitation and purification purposes. This would increase the demand for UV LEDs to disinfect spaces. For example, Seoul Viosys, a developer of UV LED technology and a subsidiary of Seoul Semiconductor, announced that the demand for their violeds UV LED products, which can be used for sterilizing bacteria. With the growing concerns regarding the spread of the virus, several Chinese automotive companies are adopting Seoul’s violeds UV LED technology in sterilization systems for vehicle interiors. Violeds UV LED technology has also been used by NASA aboard the International Space Station to provide a germ-free environment for astronauts. Therefore, the increasing demand for UV LEDs positively impacts the growth of the UV curing system market.
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The increasing number of live events such as music concerts, plays, operas, dance performances, etc., is expected to positively impact the demand for stage lighting. To conduct such performances, light fixtures are used to maintain the focus of the audience and provide proper intensity, color distribution, and direction to the performers. Lighting also creates an immersive experience for the audiences. The attendance at these concerts and music festivals is increasing exponentially, as the audiences get a chance to witness and experience their favorite artists performing on the stage. Therefore, the growing number of live music events and concerts are expected to augment the demand for stage lighting, thereby driving the growth of the specialty lighting market.
The prominent players operating in the specialty lighting market are Signify (Netherlands), OSRAM (Germany), SMART Global Holdings (Cree LED) (US), Ushio (Japan), Advanced Specialty Lighting (US), Herbert Waldmann (Germany), Getinge AB (Sweden), Brandon Medical (England), Integra Lifesciences (US), American Ultraviolet (US), Steris PLC (UK), Halma (US), Advanced UV (US), Martin Professional (Denmark), Altman Lighting (US), Guangzhou Yajiang Photoelectric Equipment Co. (China), Chauvet & Sons (US), Daray Medical (UK), Color Imagination LED Lighting (China), Advanced Stage Lights (India), Technomed India (India), Simeon Medical (Germany), Crystal IS (US), and XYLEM (US).Top 2 Players in specialty lighting market:
Founded in 1891, Signify Holding is headquartered at Eindhoven, Netherlands. It is the global market leader with recognized expertise in the development, manufacture, and sale of innovative, energy-efficient lighting products, systems, and services. Signify Holding is the new name of Philips Lighting. It was separated from Philips on February 2016. The company is an industry leader in connected lighting systems and services and is leveraging the Internet of Things (IoT) to help transform homes, buildings, and urban spaces. Signify conducts its lighting business in over 60 countries and has manufacturing facilities in Europe, South America, and Asia Pacific. A global market leader, Signify has recognized expertise in the development, manufacturing, and application of innovative green lighting products, energy-efficient lighting products, systems, and services.
Signify has achieved 100% carbon neutral status in their operations and sent zero waste to landfills. The company is also using 100% renewable energy for all its operations. Signify operates through four major segments—digital solutions, digital products and conventional products. Conventional Products comprises the company’s conventional lamps and lamp electronics businesses. It produces and sells lamps, based on a wide variety of non-LED based technologies. This includes HID, TL, compact fluorescent, halogen, incandescent, as well as electronic components (electronic ballasts and drivers) and specialty lighting. The company has wholly owned subsidiaries in China, Germany, the Netherlands, Hong Kong, the US, Poland, and Indonesia.
OSRAM, founded in 1919, has its headquarters in Munich, Germany. The company operates through Specialty Lighting, Opto Semiconductors, and Lighting Solutions & Systems segments. OSRAM offers lighting solutions and specialty products featuring energy-saving technologies. The company manufactures light-emitting diodes (LEDs) that are used in general lighting, automotive, consumer, and industrial applications. In addition, the company also develops lamps and lighting systems for the automotive sector; stage, cinema, and studio lighting; plant cultivation systems; and special lamps for industrial and medical applications. It provides its products under the OSRAM, SYLVANIA, SYLVANIA Lighting Solutions, Siteco, Traxon, Clay Paky, and LED Engin brands.
The Opto Semiconductors segment offers a wide range of LEDs in low-power, mid-power, high-power, and ultra-high-power classes that are used across various applications such as general lighting, automotive, consumer, and industrial. The Digital segment offers electronic ballasts and LED drivers, LED modules, sensor-based and software-based light management solutions, and specialty lamps and systems, among others.
The main subsidiaries of the company are Osram Lighting S.A.S.U. (France), Osram AS (Norway), Osram Ltd. (Canada), Osram China Lighting Ltd. (China), Osram Opto Semiconductors (Taiwan), Osram Lighting Control Systems Limited (China), and BAG Electronics (Germany).
Specialty Lighting Market by Light Source (Light-Emitting Diode, Halogen Lamps, Xenon Bulbs, Incandescent Lamps, Metal Halide Lamps), Application (Entertainment, Medical, UV Lamps) and Region (North America, Europe, APAC, RoW) - Global Forecast to 2027
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