LED Programmable Stage Lights to Account for 9/10th of Global Market Revenue, Projects Fact.MR
Published : 20 Jan 2022 Industry: Technology
According to Fact.MR, the global programmable stage lighting is estimated to procure a market value of more than US$ 2.85 Bn, exhibiting a CAGR of 5% during the forecast period from 2022-2032. The rising demand for programmable stage lighting from theaters and sports sectors is anticipated to play a significant role in strengthening the market in the coming years.
From 2017 to 2021, programmable stage lighting revenue surged at a CAGR of 7%. During the COVID-19 pandemic, however, prospects contracted significantly, due to the cancelation of sports events and the temporary shutdown of theaters and the entertainment sector. Furthermore, work from home directives have compelled enterprises to shift conferences and meetings across online platforms, further contracting demand.
Fortunately, as vaccination drives gather momentum, countries are easing the restrictions. This has permitted a resumption of commercial public gatherings, restoring demand prospects. In the future, the need for ambient lighting and energy conservation will likely encourage businesses to invest in programme stage lighting solutions.
Key Takeaways from the Market Study
- Global programmable stage lighting value to reach US$ 1.75 Bn by 2022-end
- LED programmable stage lights to garner a market value worth 90% in the forthcoming decade
- Applications to abound across entertainment places, accumulating close to half of global market value
- Wi-Fi enable programmable stage lights to gather major traction, clocking a CAGR of 6%
- U.S to be the fastest growing North American market, clocking a 5% CAGR
- Japan and China to jointly surge at a CAGR of 15% from 2022 to 2032
“Increasing demand for the programmable stage lighting from Event Industries is expected to bolster the market throughout the forecast period from 2022-2032” – says a Fact.MR analyst.
The renowned players of the global programmable stage lighting market adopt new strategies to procure a larger market share. Some of the tactics opted for are acquisition, partnerships, and collaborations. Some of the recent developments among the key players are
- In September 2021, Chauvet disclosed that it acquired Kino Flo, a global player in LED lighting systems.
- In July 2021, Altman Lighting announced its new product, the LED Work Light II (WLII), which is portable and energy-efficient to lighten up the venue.
- In January 2022, ADJ expanded its portfolio of professional lighting tools by launching D4 Branch RM, which is a 4-way DMX splitter and booster.
More Insights Available
The report on the programmable stage lighting market by Fact.MR provides an exhaustive assessment of key influencing factors that have shaped sales from 2017–2021, and a detailed assessment of the parameters exerting influence for 2022 to 2032.
Market statistics have been presented on the basis of light type (laser lights, LED lights, halogen, and others), product (moving head lights, strip lights, and PAR can lights), application (theatres, entertainment places, and others), and technology (Bluetooth, Wi-Fi, and others), across five major regions of the world (North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa).
About the Technology Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations – the ICT team at Fact.MR assists clients with unique business intelligence needs on a global level. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analysed the Industrial lucidly in 50+ countries for over a decade. The ICT team at Fact.MR assists clients in their business expansion as well as new ventures, through hawk-eyed analysis and strategic recommendations.
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Sr. Consultant – Technology