The global outdoor lighting market generated revenue of $10,352.1 million in 2020, and it is expected to grow at a CAGR of 7.0% during the forecast period (2020–2030).
The global emergency lighting market was valued at $5,386.0 million in 2020, and it is expected to showcase a CAGR of 6.4% during the forecast period (2021–2030).
The ambient lighting market size stood at $60.8 billion in 2019, and it is expected to grow at a 9.2% CAGR between 2020 and 2030.
The global solar street lighting market size is valued at $5.7 billion with sales of 1,545.9 thousand lighting units in 2019 and projected to witness a CAGR of 9.4% during the forecast period (2020–2030)
The photonics market revenue stood at $576.8 billion in 2019, and it is expected to rise to $1,214.5 billion by 2030, while demonstrating a CAGR of 6.9% during 2020–2030.
High power LED market revenue stood at $12,647.2 million in 2018, and it is projected to advance at a CAGR of 5.3% during 2019–2024.
The optical metrology market was valued at $1,989.2 million in 2017 and is forecasted to register a CAGR of 6.5% during 2018–2023. Rising demand for precise measuring tools and equipment for inspection of electronic chips in the semiconductor industry is one of the key factors driving the market.
The global grow lights market generated revenue worth $2,653.2 million in 2016 and is expected to register a CAGR 12.5% during the forecast period (2017–2023). Major factors driving the market growth are the increased focus on indoor farming and vertical farming and growing government support toward the adoption of LED lights
The global IR LED market is projected to grow at a CAGR of 14.3% during the forecast period. An infrared light emitting diode (IR LED) refers to a SSL (solid-state lighting) mechanism that effuses light in the infrared range of the electromagnetic radiation spectrum. SSL mechanism utilizes semiconductor sources of illumination such as LEDs (Light Emitting Diodes), PLEDs (Polymer Light-Emitting Diodes) and OLEDs (Organic Light-Emitting Diodes), instead of electric filaments, plasma and gas. IR LED appears similar to a common
The global light amplification by simulated emission of radiation (Laser) technology market is expected to experience considerable growth during the forecast period due to its increasing demand from various sectors. The factors such as advancements in technology, government regulations pertaining the application of laser in engraving, increasing demand for laser technology in medical, oil & gas and industrial applications, and growth of emerging economies are expected to boost the market growth during the forecast p
The global metrology services market is growing due to development of enhanced metrology services software packages, lack of applicability of existing measuring equipment, growing pressure on global infrastructure and resources, and lack of trained machine operators. Additionally, the increasing adoption of CAD/CAM and international quality standards in metrology services
The global nanophotonics market is growing, due to increasing application of the technology in optical communication, organic light emitting diodes (OLED) and light emitting diodes (LED). Additionally, the energy-efficient designs and large optical bandwidth are offered by nanophotonics, which is further supporting the growth of the global market. The reduction in
The printed and organic lighting market has witnessed a rapid development from “Lab to fab” in past few years. The functional advantage, such as superior energy efficiency and ability to craft novel lighting products has increased the market penetration of printed and organic lighting products in the recent years. In terms of value, the global printed and organic lighting market has
The global optical components and systems market is growing, due to the growth in demand for process automation among different industry verticals, increasing need for software in industrial automation, increasing applications of cloud computing in defense, and increase in infrastructure investments in the developing markets. The reliable, safe, and simplified network
The growing efficiency along with miniaturizing size of the optical MEMS components has increased their market penetration in the communication industry. Technically, the advantages such as superior transmission speed of signals between ranges of transmitters within the optical communication network, which acts as the most promising technology to deal with logjams,
The global terahertz (THz) radiation devices and systems market is growing with a considerable rate, due to increasing popularity of techniques such as ultrasound and infrared (IR). Terahertz radiations are used to control, inspect, and monitor, the infrared and ultrasound techniques. Terahertz technologies are replacing less safe technologies, such as nuclear and x-ray, due to their
The continuously decreasing average selling price of LED lighting, burning issue of global energy crisis, and evolution of the smart homes market, along with the customization benefits are the key drivers of the global smart light fixture and control market. The changing paradigm of lighting industry to electronics industry is promoting growth of the market. The scenario of lighting
North America leads the plasma lamp market and is expected to lead in the coming years also. Building owners, government, utilities and other shareholders in the region are supporting the employment of plasma lamps on wider scale due to concern regarding energy consumption. The Asia-Pacific plasma lamp market is expected to grow with the highest rate in the coming
LED lights are widely used in variety of applications, which includes display and monitors, mobile devices, automotive lighting, signage, and others. According to Department of Energy (DOE), U.S., lighting accounts for about 20% of total commercial energy expenditure, in U.S. The International Energy Agency (IEA) has estimated that the global electricity spending for lighting can
Escalating demand for consumer electronics and rising government funds for military and defense are expected to increase the global IR detector market during forecast period. Moreover, decrease in the prices of IR detector owing to the advancement in technology and manufacturing capabilities is further increasing the market penetration of IR detector in lower end consumer
The global lighting market is anticipated to witness high growth in the coming years, especially from the emerging solid state lighting technology. Long life, efficient design and low energy consumption of light emitting diodes has resulted into better productivity and increased brightness, which are some of the factors contributing to the growth of solid state lighting technology.
LiDAR is useful in providing accurate positions over large location areas. It also provides most precise location at significantly faster rate compared to some of the other traditional based approach. A high precision LiDAR system can calculate over a million positions per second. Gathering this level of location based data through traditional point to point surveying approach would take