Top 8 Growth Opportunities in Lighting, 2024

EnvironmentTop 8 Growth Opportunities in Lighting, 2024

Technology Strategy and Business Models to Fuel Advancement of Building Illumination and Specialized Lighting

RELEASE DATE
22-Dec-2023
REGION
Global
Deliverable Type
Market Outlook
Research Code: PFAC-01-00-00-00
SKU: EN_2023_482
AvailableYesPDF Download
$2,450.00
In stock
SKU
EN_2023_482

Top 8 Growth Opportunities in Lighting, 2024
Published on: 22-Dec-2023 | SKU: EN_2023_482

Need more details?
$2,450.00
DownloadLink
Need more details?

Rapid advancements in connectivity, wireless technologies, and value-added services, including innovative business models such as lighting-as-a-service (LaaS), will characterize the lighting industry in 2024. These trends, coupled with the growing focus on sustainability and smart buildings, are poised to create exciting opportunities for revenue growth and technology development in the lighting market. Adoption of connected lighting solutions is expected to surge, fueled by their energy efficiency, data insights, and improved user experience. Integrated platforms for managing lighting systems, collecting data, and enabling smart functionalities will become increasingly dominant. Lighting manufacturers will increasingly offer non-illumination services such as data analytics, predictive maintenance, and LaaS to differentiate themselves and generate recurring revenue.

The shift toward decarbonization will create opportunities for lighting manufacturers to offer low-carbon and sustainable lighting solutions. Circular lighting concepts will witness an increased uptake for longer lifespan, easier end-of-life management, and material recycling of lighting products. Competitive intensity will remain high in 2024 as non-lighting start-ups offering digital lighting software and control solutions make inroads in the market.

Author: Dennis Marcell Victor

Strategic Imperatives

Top 8 Growth Opportunities

Growth Opportunity 1: Connected Lighting to Improve Occupant Health and Well-being

Growth Opportunity 2: Interoperable Lighting Control Protocols to Increase in Standardization

Growth Opportunity 3: Specialized Lighting to Thrive in Vertical Farming

Growth Opportunity 4: Proliferation of Wireless Penetration of Lighting and Related Controls

Growth Opportunity 5: Circular Lighting to Accelerate Sustainable Buildings and Business Operations

Growth Opportunity 6: UV-C Disinfection Lighting to Advance for Institutional and Healthcare Sectors

Growth Opportunity 7: LaaS to Rebound with Digital Lighting Services

Growth Opportunity 8: Li-Fi Growth to Advance Adoption in Smart and Critical Infrastructure Projects

Next Steps

Legal Disclaimer

Purchase includes:
  • Report download
  • Growth Dialog™ with our experts

Growth Dialog™

A tailored session with you where we identify the:
  • Strategic Imperatives
  • Growth Opportunities
  • Best Practices
  • Companies to Action

Impacting your company's future growth potential.

Rapid advancements in connectivity, wireless technologies, and value-added services, including innovative business models such as lighting-as-a-service (LaaS), will characterize the lighting industry in 2024. These trends, coupled with the growing focus on sustainability and smart buildings, are poised to create exciting opportunities for revenue growth and technology development in the lighting market. Adoption of connected lighting solutions is expected to surge, fueled by their energy efficiency, data insights, and improved user experience. Integrated platforms for managing lighting systems, collecting data, and enabling smart functionalities will become increasingly dominant. Lighting manufacturers will increasingly offer non-illumination services such as data analytics, predictive maintenance, and LaaS to differentiate themselves and generate recurring revenue. The shift toward decarbonization will create opportunities for lighting manufacturers to offer low-carbon and sustainable lighting solutions. Circular lighting concepts will witness an increased uptake for longer lifespan, easier end-of-life management, and material recycling of lighting products. Competitive intensity will remain high in 2024 as non-lighting start-ups offering digital lighting software and control solutions make inroads in the market. Author: Dennis Marcell Victor
More Information
Deliverable Type Market Outlook
Author Dennis Marcell Victor
Industries Environment
No Index No
Is Prebook No
Keyword 1 Lighting Innovations
Keyword 2 Lighting Industry Trends
Keyword 3 Lighting Sector
Podcast No
WIP Number PFAC-01-00-00-00