ICT & Electronics Global Ceiling Lights Market | Page 2

“Ceiling Lights Market: Global Demand Analysis &
Opportunity Outlook 2023”
The global ceiling lights market is segmented into end user such as
commercial, corporate and residential. Among these segments, corporate
segment is expected to occupy the top position in ceiling lights market
during the forecast period. Expansion of corporate infrastructure across the
globe is anticipated to foster the demand for ceiling lights in corporate
sector. On the other hand, residential segment is anticipated to witness
noteworthy growth during the forecast period owing to increasing
popularity coupled with rapid development of housing sector in developing
economies.
Global Ceiling Lights Market is expected to flourish at a CAGR of 11.6%
over the forecast period. Moreover, the global ceiling lights market is
anticipated to exhibit exponential revenue growth over the forecast period.
Rising investment in real estate sector and rising disposable income of the
population are believed to be the dynamic factor behind the growth of
ceiling lights market during the forecast period.
The LED lights segment by technology is estimated to grow at a significant
CAGR during the forecast period. Moreover, LED lights segment is
expected to account for the largest share of revenue across the globe. Low
power consumption, high life span and higher efficiency of the LED lights
are expected to positively impact the growth of the LED ceiling lights
segment. Further, favorable government initiatives such as subsidies to
LED lights manufacturer are envisioned to bolster the growth of LED
ceiling lights segment.
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Technological Advancement in Ceiling Lights
Technological advancement and development of new generation ceiling
lights is fuelling the growth of ceiling lights market. Further, higher
efficiency and low operation cost of LED ceiling lights has triggered the
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