Semiconductor and Electronic Survey

The   Specialty Lighting Market   is anticipated to grow at a CAGR of 5.9% from 2019 to 2024, from USD 5.4 billion in 2019 to USD 7.2 billion in 2024. Numerous live music events and concerts, strict government rules for surface, air, and water disinfection, the growing acceptance of surgical illumination for both minor and large surgical procedures, and the declining cost and expanding use of LEDs are the main factors driving the market's growth. The growing demand for ultrapure water from end-use industries and promising futures in new applications are underlying opportunities for the specialty lighting market. During the projected period, the CAGR for LED light sources for specialty lighting is expected to increase. LEDs are semiconductors that use the motion of electrons to transform electricity into light. They have developed into a significant lighting technology because, in terms of power consumption, dependability, and durability, they outperform high-intensity discharg...

The   Specialty Lighting Market   is projected to reach USD 7.2 billion by 2024 from USD 5.4 billion in 2019, at a CAGR of 5.9% from 2019 to 2024. The major drivers for the market’s growth are the increasing number of live music events and concerts; stringent government regulations for air, water, and surface disinfection; growing penetration and adoption of surgical lighting for minor and major surgical procedures; and decreasing cost and increasing penetration of LEDs. Underlying opportunities for the Specialty Lighting Market include the increasing demand for ultrapure water from end-use industries and high growth prospects in new applications. LED light source for Specialty Lighting to grow at higher CAGR during forecast period LEDs are semiconductors that convert electricity to light through the movement of electrons. They have evolved as a major lighting technology, as they are more environmentally beneficial than high-intensity discharge (HID)/halogen lights in terms of...