Decorative Lighting Market Expected to Surge by $8.65 Billion from 2024 to 2028, Fueled by Product Innovation and AI's Impact on Industry Trends

The Global Decorative Lighting Market is projected to grow significantly, with an estimated increase of USD 8.65 billion from 2024 to 2028, driven by a compound annual growth rate (CAGR) of over 4.52%. Key factors contributing to this growth include the evolving design concepts aimed at premiumization and the increasing adoption of smart lighting systems integrating IoT technology. Major players in the market include Acuity Brands Inc., Feit Electric Co. Inc., and Signify NV, among others. However, challenges such as a perceived value gap among customers and the market’s fragmented structure may hinder growth. The trend towards energy-efficient, aesthetically pleasing lighting solutions is essential as competition intensifies and sustainability becomes a priority for consumers. The market is also seeing an increase in wall-mounted and ceiling lights, as well as custom orders, reinforcing the significance of decorative lighting in enhancing both interior and exterior spaces.

Decorative Lighting Market Expected to Surge by $8.65 Billion from 2024 to 2028, Fueled by Product Innovation and AI’s Impact on Industry Trends

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