Analysis of Programmable Stage Lighting market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The global programmable stage lighting market is anticipated to witness a CAGR of 5% during the forecast period from 2022 to 2032. The market is anticipated to be valued at US$ 2.85 Bn by 2032, up from US$ 1.75 Bn in 2022.
Expected Value for 2022
US$ 1.75 Bn
Anticipated Market Value by 2032
US$ 2.85 Bn
Estimated Growth Rate (2022-2032)
Key Programmable Stage Lighting Providers
The increasing demand for programmable stage lights in theaters and the sports sector is expected to drive the market in the coming time. The longer lifespan and the cost-effectiveness are projected to be salient causes that can develop the industry in the forecast period. Further, the availability of programmable motion sensors along with benefits such as high-quality lighting is likely to augment the industry in the forecast period. In addition, developing countries such as India and China are expected to offer lucrative market opportunities during the forecast period. The growth prospects in developing countries can be attributed to large-scale public events, the significant young population, and the demand from small individual events.
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According to Fact. MR, the market showed a steady growth rate of 7% from 2017 and 2021. Growth was spearhead by an increase in the frequency of commercial outdoor and indoor public events for business and recreational purposes. In addition, their low power requirement have further enhanced uptake.
During the height of the COVID-19 pandemic, demand for programmable stage lighting declined significantly. The imposition of lockdowns to curb the spread of the disease led to the cancellation of mass public gatherings, including business conferences, trade fairs, religious congregations and sporting events.
At the same time, sales of programmable stage lighting remained largely unaffected, especially across the residential sector. Rising penetration of AI-enabled and smart devices have led consumers to opt for smart lighting solutions. Moreover, these programmable lights are pivotal in ensuring energy conservation. Hence, Fact.MR anticipates demand to accelerate at a steady 5% CAGR from 2022 to 2032.
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Innovation in Programmable LED Lights can grow the Market
The demand for specialized lighting for wireless lighting displays and LED lights in the events industry is expected to play a salient role in boosting the market in the coming time. Further, the business events are anticipated to offer significant opportunities for expansion by producing high demand for LED display panels.
Moreover, innovative ideas, such as; LED light effects in amalgamation with fog machines are likely to additionally boost the demand for the product. Also, the integration of IoT systems is another crucial factor that can propel the industry growth in the assessment period.
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High Capital Investments can impede the Programmable Stage Lighting Market
The high expenses associated with programmable solutions are anticipated to be five times more than the traditional lighting solutions, which has been identified as one of the major factors hindering the market.
Scarcity of training resources for professionals involved in programmable lighting solutions is another factor that is projected to negatively impact the market. It also demands high capital requirements, which is another cause slowing the market expansion.
U.S can Surpass Canada while Exhibiting a CAGR of 5%
Regionally, North America is anticipated to procure the largest market share, followed by Europe. Among all, the US is likely to acquire the lion’s share while exhibiting a CAGR of 5% in the assessment period.
The high participation of the U.S could be due to the presence of advanced event organizations generating significant demand for programmable stage lighting. By expanding at a CAGR of 5%, the US is likely to surpass Canada.
The U.S is a land of corporates, and also the organizer of various events that are globally renowned. Billboard reveals that the U.S organizes more than 800 music events annually.
Japan can Witness a Significant Rise for it is one of the Fastest Growing Economies
In Asia, Japan has been identified as a lucrative market owing to the large presence of small and medium enterprises. Japan is the global hub for organizing cultural activities and is also one of the fastest-growing economies of the world. A CAGR worth 7% is projected for the Japanese market.
Rising urbanization and increased investment by big brands have resulted in the rapid growth of the industry, leading to surged corporate events in the country. With the rising corporate and cultural events taking place, the programmable stage lighting is anticipated to witness significant demand, strengthening the industry in the forecast period.
Reduced Price of LED light bulbs to boost the Market in China
The increase in investments for the construction of hotels, event venues, and convention centers have resulted in a rise in demand for programmable stage lighting. The growth of entertainment industries in the region is anticipated to be another significant factor propelling the market in China.
In addition, initiatives by the government, such as; incentives and subsidies have resulted in lowering the price of LED light bulbs, which can further augment the market in China. According to Fact.MR, a CAGR worth 8% is anticipated for the Chinese market.
Longer Life Span of Programmable LED Lights to Bolster the Market
LED light is expected to witness higher demand than other types of light due to its longer lifespan. Furthermore, they are also eco-friendly, which boosts their demand owing to the rising concerns for the environment. International Energy Agency reveals that LED is expected to procure 90% of the total sales by 2030.
On the other hand, laser programmable lights are expected to exhibit faster growth during the forecast period. This can be attributed to efficient information transmission capabilities and lower scope of leakage.
Greater Affordability of Strip Lights to Bolster the Market
Based on the product type, strip light is anticipated to procure the largest market share. This can be attributed to affordability. A market share worth 45% is projected for this segment.
Strip lights are expected to retain their position in the market throughout the forecast period. Further, the moving programmable head lights setups are projected to witness decent growth in the coming time.
Key players of the global programmable stage lighting market generally focus on product development and acquisitions. The notable players opt for various initiatives to acquire the forefront position. Some of the recent developments among the key players are:
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As of 2022, the programmable stage lighting market is likely to reach US$ 1.75 Bn
The global programmable stage lighting market is anticipated to value more than USD 2 Bn by 2032 while exhibiting a CAGR of 5% from 2022 to 2032.
According to Fact.MR, programmable stage lighting revenue will reach US$ 2.85 Bn in 2032
From 2017 to 2021, Fact.MR projected the programmable stage lighting industry to have grown at 7% CAGR
According to Fact.MR, programmable stage lighting demand is likely to grow at a CAGR of 5% in the U.S
Japan is likely to experience a CAGR of 7% with respect to programmable stage lighting sales
As per Fact.MR, China is anticipated to register a CAGR of 8% in the programmable stage lighting domain
LED programmable stage lighting is anticipated to capture 90% of the global market revenue until 2032
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