Architectural LED Products Market is valued at USD 5.48 Billion in 2018 and expected to reach USD 17.68 Billion by 2025 with the CAGR of 18.2% over the forecast period.
Architectural LED Products Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2019-2025- Factors such as Increased Lifespan of LED Products, Government Regulations and Decreasing Cost of LED Products are contributing in the market growth.
Scope of Architectural LED Products Market is as;
Lighting plays a dynamic role in the way people experience and understand architecture. This lighting is the medium which allows user to see and appreciate the beauty in the buildings around them. LED Architecture lighting is used to convert the memorials and Building as an element. this light is used to light up with environmental limitations and installation details with safest Cabeling details which should be designed for ensuring the safety that is the biggest concern with Long - run working of Luminaire. This Architectural LED Lighting can bring an emotional value to architecture & it helps create an experience for those who live in that space. Benefits of this Architectural LED lighting are such as Cost Savings, Energy Efficiency- the Green Option, Service Life, Limitless Design Options and many others.
The Architectural LED Products Market is segmented into product type, application and end user. On the basis of product type, the market is segmented into solar, conventional and lamp. On the basis of application, the market is segmented into cove lighting, wall washing, in ground, backlight and other. On the basis of end user, the market is segmented into residential and commercial.
The regions covered in this Architectural LED Products Market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Architectural LED Products is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Architectural Lighting is Daylighting in an LED World.
On 8 June, 2018, The Journal of The American Institute of Architects has released in their news about Architectural Lighting. They wrote that No building strategy links the disciplines of architecture and lighting as the daylighting design does. The basic form to architecture through illumination gives the drawing on core principles of siting, environmental awareness and solar orientation. Hayden McKay, AIA, a New York–based principal at HLB Lighting Design and leader of the firm’s daylighting and sustainable design studio said that Daylight is the primary source for architecture and It has been over time and it still remains the first thing that should be considered in creating architectural forms and fenestration orientation.
However, primary discussion of daylighting and architecture is the former’s ability to reduce a building’s energy consumption and improves its overall performance. This benefit occurred in the late 20th century that saw the emergence of “energy-conscious architecture,” and this phrase describes a generation of building projects that combined with daylighting design as the driver for energy savings and the analytical tools used to measure their performance said by Mark DeKay, an architect and professor at the University of Tennessee in Knoxville’s College of Architecture & Design and co-author of Sun, Light and Wind, Architectural Design Strategies.
Growing Consumer Inclination towards Luxurious Lifestyle is key factor for driving the Architectural LED Products Market.
As there is increasing consumer inclination towards luxurious lifestyle has enhanced the demand for LED lighting products worldwide. This demand has been observed in residential sectors as well as commercial sectors. For instance, According to European Commission, a survey conducted by McKinsey on clean technologies in 2011 indicated that 72% of the 4025-people considered LED lighting as the most probable one. Hence growing consumer Inclination towards luxurious lifestyle is fueling the Architectural LED Products Market growth. Also, the monuments and government offices are increasingly adopting architectural LEDs leading light and lamps as part of smart city initiatives are contributing in the market growth. Moreover, strict government rules concerning utilization of LED lamps is expected to drive the architectural LED products market in the forecast period. However, the manufacturers are offering the architectural lighting solutions by integrating with optimal specifications, energy saving standards and stringent & time-consuming safety which do not allow the proper balancing of the supply and demand and this is expected to hamper the growth of the market.
Asia Pacific is dominating the Architectural LED Products Market.
Geographically, Asia Pacific region is dominating the Architectural LED Products. This is due to high standard of living of the crowds in the European region has led to the construction of smart homes in the region, which are fitted with several and innovative outdoor LED lighting systems also the ongoing infrastructure modernization projects in the emerging economies, such as China and India for the construction of several smart cities is also fueling the market growth. For instance According to Telecommunication Engineering Centre by Government of India, Smart Homes are the integral part of Smart Cities. Connected things relevant to Smart Homes are forecasted to grow from 294 million to more than 1 billion which is more than tripling in just three years.
Also North America region is at second position in dominance. This is due to high demand of LED Products from the developed countries such as the US. For instance, according to Climate Group, The potential for an infrastructure renewal investment in LED lighting is up to US$20 - 30 billion in the United States.
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