It is projected that the Specialty Lighting Market would expand significantly, from USD 5.7 billion in 2022 to USD 7.8 billion by 2027. According to a recent study by MarketsandMarketsTM, the market is expected to grow at a Compound Annual Growth Rate (CAGR) of 6.6% between 2022 and 2027.

This expansion reflects the growing need for the use of speciality lighting solutions in a range of sectors. Technological developments, changing consumer tastes, and the increased emphasis on sustainable and energy-efficient lighting solutions are probably the main factors driving the market's expansion.

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Applications for speciality lighting are particularly common in the entertainment, medical, and UV lamp industries. Specialised lighting solutions are essential in the entertainment sector for producing visually captivating and immersive experiences that improve the atmosphere of theatres, music halls, and theme parks. Specialty lighting is beneficial to the medical field because it provides focused and accurate illumination for surgical procedures, diagnostic exams, and other medical uses. Another important use is UV lighting, which is used in many sectors for scientific research, sterilisation, and cure procedures. The extensive use of speciality lighting in these many applications highlights its adaptability and value in meeting particular and strict needs in various industries, which supports the market's overall expansion and significance.

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Airport lighting is a new application in the speciality lighting market with significant growth potential. Airport lighting refers to the systems that are used to support different airport activities, make night flights easier, and improve the appearance of airports generally. For pilots, these illumination options are essential navigational assistance and visual aids during critical parts of the flight, such as takeoff and landing. The need for complex and cutting-edge speciality lighting systems is growing as airports throughout the world concentrate on developing and modernising their infrastructure to satisfy stricter regulations. This tendency elevates airports to the status of first-rate facilities while simultaneously improving operational efficiency.

The major players in the specialty lighting market include 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), and Advanced UV (US).

In application type, the entertainment application is expected to hold the highest market share of the specialty lighting market during the forecast period

Stages, studios, and events are vitally illuminated by entertainment lighting, which also produces the dramatic effects needed for riveting performances. Entertainment lighting, which is widely used in film shoots and video recordings, uses a variety of light sources, including halogen, incandescent, xenon, and LED lamps. In addition to captivating audiences, this specialised lighting guarantees that artists are directed, have the right amount of intensity, and colour dispersion. Stage lighting leads the entertainment lighting market among its many applications, closely followed by studio lighting. It is anticipated that this tendency will continue due to the rise of musical events held throughout the world. North America led the entertainment lighting market in terms of regional impact in 2021, driven by the rapidly urbanising region, the growing music industry, and rising attendance at music festivals. With the backing of powerful associations and an increasing number of musical events, the European market is likewise expected to increase. The demand for entertainment lighting is further fueled by the changing lifestyle and the widespread presence of malls, theatres, multiplexes, and other entertainment venues, all of which support the entertainment and film industries' rapid expansion.

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The North America specialty lighting market is projected to have the highest market share during the forecast period

North America tops the Specialty Lighting Market research, with the largest market share in 2021 and a trend expected to remain for the duration of the forecast period. Due to its thriving cultural scene, which includes well-known music festivals like Lollapalooza, Bonnaroo, Bumbershoot, and Electric Zoo Festival, the region is considered dominant. The region's entertainment lighting application market is expected to increase as a result of the increasing interest in and involvement in these festivals as well as the continuous urbanisation trend. In addition, the number of hospitals in the United States, a major participant in North America, was 6,093 in 2021 and is predicted to rise during the forecast period. The number of surgical procedures and patient examinations is expected to rise as a result of this boom in healthcare facilities, which would in turn fuel demand for speciality lighting applications in the North American market.

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:

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