the Government of India released a fund of US$ 49.4 million for the development of 100 smart
cities across the economy.
Industrial and commercial segment holds the dominating position in the lighting
fixture market.
On the basis of application type, the global lighting fixture market is segmented into industrial
and commercial, residential, outdoor, architectural, and others (automotive, aerospace, and
machinery). The industrial and commercial application segment held the dominant position in
2016 and is projected to retain its dominance throughout the forecast period. In 2017, the
industrial and commercial application generated the revenue of US$ 66.99 billion up from US$
62.67 billion. The high involvement of governmental bodies of various economies for energy
saving has become one of the major factors for providing dominating position to the industrial
and commercial application. The industrial and commercial applications are the two largest
segment for energy consumption in the nation. According to energy saver, Office of Energy
Efficiency & Renewable Energy in the U.S., with new standard of Energy Independence and
Security Act (EISA) in 2015, the U.S. households save nearly US$ 6 billion.
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Asia Pacific holds a dominant position in the global lighting fixture market
On the basis of geography, the global Lighting Fixture market is segmented into North America,
Europe, Asia Pacific, Latin America, Africa, and the Middle East. According to Coherent Market
Insights, Asia Pacific held a dominant position in the global lighting fixture market in 2016 and is
projected to retain its dominance throughout the forecast period. The market in the Asia Pacific
was valued at US$ 58.28 billion in 2016. The high density of population has become one of the
major factors for growth of the market. India and china are the two densely populated economies
in this region. According to population reference bureau, the number of people in china is 1,387
million and in India it is 1353 million in 2017. The economic development of these economies is
expected to boost the growth of residential, commercial, and industrial sector. Moreover, the
transaction phase of conventional lighting fixture to LED is creating a demand for new fixture.
The North America market is projected to shows a stagnated demand for the lighting fixture
market. In emerging economies, the demand for lighting fixture is mainly for replacement of
conventional lighting systems.
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