Global professional lighting market led by General Electric Co., Koninklijke Philips Electronics N.V., OSRAM Sylvania Inc., Panasonic Corp., and Zumtobel Lighting GmbH
Global Professional Lighting Market 2014-2018 - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-04-11 10:26:02
The Global Professional Lighting market is forecast to grow at a CAGR of 5.91 percent over the period 2013-2018. One of the key factors contributing to this market growth is the increasing number of professional gatherings. The Global Professional Lighting market has also been witnessing the increasing demand from new markets. However, the increasing threat of rivalry could pose a challenge to the growth of this market.
The key vendors dominating this market space are General Electric Co., Koninklijke Philips Electronics N.V., OSRAM Sylvania Inc., Panasonic Corp., and Zumtobel Lighting GmbH.
Other vendors mentioned in the report are Bridgelux Inc., Cree Inc., Lemnis Lighting B.V., Luminus Devices Inc., Luxim Corp., Nichia Corp., Samsung Electronics Co. Ltd., SemiLEDs Corp., Seoul Semiconductor Co. Ltd., and Universal Display Corp.
The Global Professional Lighting market is witnessing increasing demand for professional lighting from new markets, such as South-east Asia, Latin America, and Middle East. In Asia, China is currently the largest market, and South-east Asian countries such as Thailand, Indonesia, and Malaysia are expected to witness a huge demand for professional lighting during the forecast period. Brazil is expected to witness a significant increase in demand due to higher penetration of professional lighting systems in the Office and Shop segments and the organization of the 2014 FIFA World Cup and the 2016 Summer Olympic Games in Rio de Janeiro. In addition, the UAE and Qatar are expected to drive the Professional Lighting market in the Middle East due to the expected organization of many professional seminars in Dubai, the UAE and the 2022 FIFA World Cup which is being held in Qatar. Thus, the increased demand from new markets is expected to drive the Global Professional Lighting market during the forecast period.
The Global Professional Lighting market is driven by many growth factors, one of which is the increasing number of professional events, such as seminars, summits, and exhibitions etc. Professional lighting is used in these events to create the appropriate ambience.
Further, the increasing threat of rivalry is one of the key challenges and the market is highly fragmented. Moreover, there are only a few pure-play players in the market that offer the entire lighting solution package to vendors. Increasing competition from local players as well as Chinese vendors is a major challenge for global vendors.
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