According to a recent study by MarketsandMarketsTM, the Specialty Lighting Market is anticipated to develop at a CAGR of 6.6% from 2022 to 2027, from USD 5.7 billion in 2022 to USD 7.8 billion in 2027. The main uses of speciality lighting are in entertainment, medicine, and UV lamps.

Airport lighting is another new use for speciality lighting, and it has a promising future. Airport lighting refers to the lighting systems used at airports to facilitate both daytime and nighttime aircraft operations as well as to enhance visual appeal. Airport lighting is intended to give pilots a visual cue and a navigational approach during the flight, takeoff, and landing. In order to establish themselves as a cutting-edge airport of the highest calibre, airports are improving their current lighting systems as a result of their focus on the construction of airport infrastructure. In turn, during the forecast period, makers of speciality lighting are anticipated to benefit from new business prospects.

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The entertainment application is anticipated to account for the largest market share in the market for specialised lighting over the anticipated timeframe.

Stages, studios, and events are illuminated by entertainment lighting. It produces the appropriate dramatic effects for a performance or entertainment. Additionally, filming and other video productions require entertainment lighting. LED lamps, xenon lamps, halogen lamps, and incandescent bulbs are among the light sources utilised for entertainment lighting. Entertainment lighting contains lamps that keep the audience's attention while giving the artists the right intensity, colour distribution, and direction. There are several uses for entertainment lighting, including stage, studio, and others. Stage lighting is the industry leader in the entertainment lighting sector, followed by studio and other types of lighting, and this trend is anticipated to continue during the forecast period. The need for specialty lighting for entertainment is expected to rise in the upcoming years as a result of the rise in musical events. The entertainment lighting industry is divided into four major geographic regions based on geography: North America, Asia Pacific, Europe, and the Rest of the World (RoW). Due to the rapidly growing music business, rising attendance at music festivals, and increased urbanisation, North America dominated the entertainment lighting market in 2021. The growth of the European music industry is anticipated to be fueled by the rising number of musical events and the support of numerous organisations like the National Association of Music Merchants & International Music Products Association (NAMM), European Festivals Association, European Music Council, etc. This is anticipated to stimulate the European market for entertainment lighting. The expansion of malls, multiplexes, theatres, and entertainment venues is also being fueled by the changing lifestyles of the general public, which is further boosting the growth of the entertainment and film sectors.

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During the projection period, the North American specialty lighting market is anticipated to hold the largest market share.

The markets for speciality lighting in North America, Europe, Asia Pacific, and RoW have all been investigated. The market in North America has the largest market share as of 2021, and that share is anticipated to remain constant over the forecast period. Top music festivals including Lollapalooza, Bonnaroo, Bumbershoot, and Electric Zoo Festival have been held in North America in the past. In the upcoming years, the entertainment lighting application market is anticipated to be driven by rising urbanisation and rising music festival attendance. There were 6,093 hospitals in the US as a whole in 2021, and that number is only anticipated to rise during the projection period. This is anticipated to further fuel the increase in surgical procedures and patient examinations. These elements are anticipated to propel the specialty lighting market in North America.

Key Players of Specialty Lighting Market:

Signify (Netherlands), OSRAM (Germany), SMART Global Holdings (Cree LED) (US), Ushio (Japan), Advanced Specialty Lighting (US), Herbert Waldmann (Germany), Getinge AB (Sweden), Brandon Medical (England), Integra Lifesciences (US), American Ultraviolet (US), Steris PLC (UK), Halma (US), Advanced UV (US), Martin Professional (Denmark), Altman Lighting (US), Guangzhou Yajiang Photoelectric Equipment Co. (China), Chauvet & Sons (US), Daray Medical (UK), Color Imagination LED Lighting (China), Advanced Stage Lights (India), Technomed India (India), Simeon Medical (Germany), Crystal IS (US), and XYLEM (US).

News Covered:

https://www.prnewswire.com/news-releases/specialty-lighting-market-worth-7-8-billion-by-2027---exclusive-report-by-marketsandmarkets-301686678.html

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