ICT & Electronics Global Lighting Fixtures Market (2016-2024)- Resea | Page 6

Global Lighting Fixtures Market Overview
Lighting fixture is an electronic device which is used to create artificial
light by using an electrical lamp. Lighting fixture is very effective in
terms of decoration and is used by lighting designers for decoration
purposes. These fixtures are used in almost every sector such as resident,
home décor, transportation and construction and others. Apart from that,
lighting fixtures are produce sufficient amount of light and consume less
amount of energy as compared to other conventional lighting systems.
Market Size & Forecast
Global lighting fixtures market is growing at a compound annual growth
rate (CAGR) of 7.1% during forecast period 2017-2024. The global
lighting fixtures market is projected to reach to a valuation about USD
216.45 Billion by the end of year 2024. The rising demand for energy
saving lighting fixtures has propelled the growth of global market of
lighting fixtures. The global lighting fixture market is driven by Asia-
Pacific region. Asia-Pacific accounted for the highest share about 39%
of the global lighting fixtures market.
High population density is one of the key elements propelling the growth
of the lighting fixtures market in Asia Pacific region and is anticipated to
continue its dominance over the forecast period. Further, rise in demand
for lighting fixtures in developing economics such as China, India and
Copyright © Research Nester
www.researchnester.com