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Lighting Market to grow by USD 62.8 Billion (2025-2029), driven by new developments and product launches, Report on how AI is driving market transformation – Technavio

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NEW YORK, Jan. 20, 2025 /PRNewswire/ — Report with the AI impact on market trends – The global lighting market size is estimated to grow by USD 62.8 billion from 2025-2029, according to Technavio. The market is estimated to grow at a CAGR of  7.4%  during the forecast period. Growing number of developments and lighting product launches is driving market growth, with a trend towards advances in automotive lighting systems. However, sustainability issue in lighting industry  poses a challenge. Key market players include Acuity Brands Inc., ams OSRAM AG, Bridgelux Inc., Dialight Plc, Digital Lumens Inc., Eaton Corp plc, Ennostar Inc., General Electric Co., GrowRay Lighting Technologies, Havells India Ltd., Hubbell Inc., IDEAL INDUSTRIES Inc., Koninklijke Philips NV, LSI Industries Inc., Lumileds Holding BV, Panasonic Holdings Corp., Sharp Corp., SMART Holdings Inc., Syska Led Lights Pvt. Ltd., and Toyoda Gosei Co. Ltd..

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View Free Sample PDF

Lighting Market Scope

Report Coverage

Details

Base year

2024

Historic period

2019 – 2023

Forecast period

2025-2029

Growth momentum & CAGR

Accelerate at a CAGR of 7.4%

Market growth 2025-2029

USD 62.8 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

6.4

Regional analysis

APAC, Europe, North America, Middle East and Africa, and South America

Performing market contribution

APAC at 45%

Key countries

US, China, Germany, UK, Japan, India, France, South Korea, Canada, and Italy

Key companies profiled

Acuity Brands Inc., ams OSRAM AG, Bridgelux Inc., Dialight Plc, Digital Lumens Inc., Eaton Corp plc, Ennostar Inc., General Electric Co., GrowRay Lighting Technologies, Havells India Ltd., Hubbell Inc., IDEAL INDUSTRIES Inc., Koninklijke Philips NV, LSI Industries Inc., Lumileds Holding BV, Panasonic Holdings Corp., Sharp Corp., SMART Global Holdings Inc., Syska Led Lights Pvt. Ltd., and Toyoda Gosei Co. Ltd.

Market Driver

The lighting market is thriving with trends in interior designing, photography, and scientific advancements. LED lights are leading the charge, replacing traditional bulbs like CFL, LFL, HID, halogen, and incandescent. Scientists are developing energy-efficient LEDs for various sectors, including houses, automotive, retail, and developing nations. LEDs are also used in plants, solar systems, medical devices, and traffic signals. Effective manufacturers like Signify are producing cost-effective, energy-efficient luminaires and smart LED bulbs. Urban cities and commercial buildings are adopting smart lighting solutions for energy efficiency and environmental sustainability. The Biden Harris Administration supports smart cities initiatives to reduce electricity consumption and logistics inefficiency. LEDs are used in automotive headlamps, aviation, advertising, and even lighted wallpapers. Energy costs remain a concern, driving the need for energy-efficient lighting. Smart outdoor lighting and solar are key areas of growth, particularly in off-grid sectors. LED fixtures are being used in real estate and HVAC systems for security and energy savings. The semiconductor industry is driving innovation in lighting technology, reducing environmental degradation and energy problems. Smart lighting solutions are becoming essential for energy efficiency and cost savings in various sectors. 

Adaptive lighting systems are gaining popularity in both commercial and automotive industries due to their enhanced safety and comfort features. These systems, specifically designed for night driving and low-light conditions, improve visibility around curves and hills. Traditional headlights illuminate the road straight ahead, leaving the side unlit. In contrast, adaptive headlamps adjust their beams based on steering input, ensuring the vehicle’s path is illuminated. Additionally, conventional headlights point their beams upward when climbing hills, but adaptive systems maintain optimal illumination for better visibility. 

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Market Challenges

The lighting market encompasses various sectors including interior designing, photography, and scientific research. Challenges include the shift from traditional light sources like incandescent, CFL, LFL, HID, and halogen to energy-efficient LEDs. Scientists are developing LEDs for plants and metal halide lamps for industrial applications. Developing and under-developing nations face electricity consumption issues, with off-grid solar sector solutions and energy-efficient luminaires and light control systems gaining popularity. LEDs reduce energy costs and have longer life expectancy. LEDs are used in automotive headlamps, aviation, advertising, medical devices, and traffic signals. Effective manufacturers like Signify offer energy-efficient and cost-effective solutions through their EcoLink range. Urban cities and commercial buildings utilize smart LED bulbs and outdoor lighting for energy efficiency and environmental sustainability. The Biden Harris Administration supports smart cities initiatives and energy efficiency regulations. The lighting industry must address capital costs, logistics inefficiency, and environmental degradation while ensuring cost-effective and energy-efficient solutions.The lighting market faces a significant challenge in ensuring sustainability as the demand for environmentally friendly and energy-efficient solutions, such as compact fluorescent lamps (CFLs) and LED lighting, increases. However, the supply of certain materials, like rare earth elements used in Phosphor-based LEDs, is limited. This can lead to price fluctuations and disruptions in the supply chain. Sustainability is crucial for the electronics industry’s growth, and addressing it through eco-friendly and efficient lighting solutions is essential.

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Segment Overview

This lighting market report extensively covers market segmentation by  

ApplicationType 2.1 LED technology2.2 Traditional technologyGeography 3.1 APAC3.2 Europe3.3 North America3.4 Middle East and Africa3.5 South AmericaProductDistribution Channel

1.1 General lighting-  The general lighting market encompasses various products including lamps, electronics, consumer luminaires, systems, and professional luminaires and systems. This segment is the most widely used in residential, commercial, industrial, and outdoor applications. Market leaders such as Signify NV, OSRAM, and IDEAL INDUSTRIES Inc. Dominate this sector. LED technology, introduced in the 1970s, has significantly impacted the market with its long-lasting, energy-efficient, and eco-friendly features, despite a higher initial cost. The ongoing price reduction trend further boosts its popularity. Developed countries are adopting connected lighting systems, enabling remote control of fixtures via smartphones, which presents new opportunities for growth in the general lighting market.

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Research Analysis

The lighting market encompasses various applications of light in interior designing, photography, and scientific research. Light plays a crucial role in enhancing the aesthetic appeal and functionality of spaces. Scientists continue to explore new technologies like LEDs, which offer energy efficiency and versatility. Plants thrive under specific light spectra, making horticulture a significant sector. Electricity consumption and energy costs are major concerns, driving the adoption of energy-efficient solutions like LED lights. Beyond traditional uses, lighting is integral to automotive headlamps, aviation, advertising, and medical devices. The Color Rendering Index (CRI) is a critical factor in evaluating the quality of light. CEA systems, LED lighting, building automation systems, HVAC, security, and smart lighting solutions are transforming the industry. The Biden Harris Administration’s focus on energy efficiency and sustainability further boosts the market’s growth. Metals and electricity are essential components, while traffic signals and camera flashes have unique applications.

Market Research Overview

The lighting market encompasses various applications, from interior designing and photography to scientific research and automotive industries. LEDs have revolutionized the sector with their energy efficiency and long life span, replacing traditional lighting sources like incandescent, CFL, LFL, HID, and halogen bulbs. Plants and humans respond positively to white light, making LEDs a preferred choice for horticulture and human-centric lighting. Developing and under-developing nations are embracing off-grid solar solutions for energy-efficient lighting in houses and commercial buildings. Solar, raw materials, and energy costs are significant factors influencing the market. AI and smart lighting solutions are transforming urban cities, commercial malls, and parking lots, reducing electricity consumption and operating costs. Effective manufacturers like Signify offer energy-efficient luminaires and light control systems, promoting environmental actions and sustainability. The Biden Harris Administration’s focus on energy efficiency and environmental sustainability further boosts the market. The Color Rendering Index and Building automation systems, including HVAC and security, are essential considerations for smart lighting solutions.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ApplicationTypeLED TechnologyTraditional TechnologyGeographyAPACEuropeNorth AmericaMiddle East And AfricaSouth AmericaProductDistribution Channel

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Department of Health – Abu Dhabi and Fred Hutchinson Cancer Center collaborate on cancer research and personalized prevention

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ABU DHABI, UAE, May 13, 2026 /PRNewswire/ — The Department of Health – Abu Dhabi (DoH), regulator of the healthcare sector in the emirate, together with the Abu Dhabi Public Health Center (ADPHC), today announced the execution of a Memorandum of Understanding (“MOU”) with Fred Hutchinson Cancer Center (Fred Hutch), one of the world’s leading cancer research institutions and home to three Nobel laureates.

By pairing Abu Dhabi’s unified clinical and genomic data infrastructure, sovereign AI capabilities and governed data environments with Fred Hutch’s globally renowned research engine, the ensuing collaborations will pave the way to shortening the distance between scientific discovery and patient benefit, for Abu Dhabi’s community and beyond.

Among the projected collaborations, the two organizations will consider leveraging Abu Dhabi’s intelligent health system, and layering Fred Hutch’s world-class science onto the secure, high-quality, real-world data foundation Abu Dhabi has built. That foundation includes the emirate’s pioneering liquid biopsy programme launched last year, one of the first national-scale efforts of its kind anywhere in the world. Alongside Abu Dhabi’s AI multi-cancer early detection work, and the world’s largest clinically integrated population-scale genomics programme – with nearly one million genomes sequence.

During his visit to the center, HE Mansoor Ibrahim Al Mansoori, Chairman of DoH commented: “Cancer is one of the defining health challenges of our time, and progress depends on combining world-class science with population-scale data, advanced AI, and research. In Abu Dhabi, we have built an AI-enabled health system that ‘cares before it cures, delivering prevention at population scale. We are already achieving some of the highest early cancer detection rates in the world, and through our partnership with Fred Hutchinson Cancer Center we are committed to bringing breakthroughs to people in Abu Dhabi and beyond.”

“This MOU between Fred Hutch Cancer Center and the Abu Dhabi Department of Health underscores the power of working together to prevent and treat cancer,” said Thomas Lynch Jr., MD, president and director of Fred Hutch and holder of the Raisbeck Endowed Chair. “Our organizations share a deep commitment to research and to provide the highest levels of cancer prevention, diagnosis and care to our communities, and we are excited to bring our expertise, tools and datasets together to identify unique approaches to cancer care and research in pursuit of our boldest goals.”

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SOURCE The Department of Health – Abu Dhabi

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L’Mychele & Associates Founder LaKessia Hill Completes North Texas FWC Hospitality Program (FIFA World Cup) and Appears on The Jeff Crilley Show

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DALLAS, May 13, 2026 /PRNewswire/ — L’Mychele & Associates LLC is proud to announce two significant milestones for the growing strategic meetings and events firm: Founder & CEO LaKessia Hill has successfully completed the North Texas FWC Organizing Committee’s Hospitality Program and was recently featured on The Jeff Crilley Show.

These accomplishments reflect the company’s continued momentum within the hospitality, tourism, and events industries as L’Mychele & Associates expands its presence through strategic partnerships, leadership engagement, and elevated client experiences.

The completion of the North Texas FWC Hospitality Program further strengthens the company’s commitment to delivering intentional, guest-centered experiences rooted in strategy, hospitality, and meaningful connection — values that are central to the L’Mychele & Associates brand.

In addition, Hill recently joined veteran journalist and media personality Jeff Crilley on The Jeff Crilley Show to discuss her entrepreneurial journey, the vision behind L’Mychele & Associates, and the company’s approach to creating experiences as bold as its clients’ goals.

“Both opportunities represent growth, visibility, and the continued evolution of our brand,” said Hill. “Hospitality is more than service — it’s about creating intentional moments that leave lasting impressions. Being recognized through the hospitality program and having the opportunity to share our story on The Jeff Crilley Show were both incredibly meaningful experiences.”

Known for its consultative and strategy-first approach, L’Mychele & Associates specializes in executive summits, conferences, nonprofit galas, incentive experiences, corporate meetings, and curated social gatherings. The firm partners with organizations, brands, and leaders to transform ideas into impactful experiences through strategic planning, management, and execution.

Guided by the company’s signature philosophy — “The Art of Listening. The Science of Execution.” — L’Mychele & Associates continues to position itself as a strategic partner within the meetings, events, and hospitality industries.

The episode of The Jeff Crilley Show featuring LaKessia Hill is now available across multiple platforms, including YouTube, Facebook, LinkedIn, and Transistor.

About L’Mychele & Associates LLC

L’Mychele & Associates LLC is a Dallas-based strategic meetings and events firm specializing in executive summits, corporate meetings, conferences, nonprofit events, incentive experiences, and curated social gatherings. The company is known for blending strategy, hospitality, and execution to create experiences that drive connection and lasting impact.

Media Contact

LaKessia Hill
Founder & CEO, L’Mychele & Associates LLC
469-402-7825

LaKessia@LMychele.com
www.LMychele.com  

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SOURCE L’Mychele & Associates LLC

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HBX GROUP ANNOUNCES HALF YEAR 2026 FINANCIAL RESULTS

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LONDON, May 13, 2026 /PRNewswire/ — HBX Group International plc (HBX Group, the Company, the Group, HBX.SM) announces its Half Year 2026 results for the six months ended 31 March 2026.  

TTV up +17% to €3.8bn, and Revenue of €309m, up +1% YoY at constant currency, reflecting targeted commercial and strategic actions to prioritise growth and capture market share, partly offset by disruption from the Middle East conflictAdjusted EBITDA up +9% at constant currency to €163m, with margin of 53% expanding +4ppts in constant currency. Profit after tax was €28m (H1 25: €(227)m).Strong cash generation with 103% cash conversion and leverage at 1.7x Adjusted Net Debt / Adjusted EBITDA. S €100m share buyback programme and a 7.5 cents per share (c.€18m) interim dividend.Executing the strategic building blocks, including the acquisition of Bridgify announced today.FY26E guidance revised to reflect the impact of Middle East conflict and macroeconomic uncertainty. New FY26 guidance is for constant currency TTV growth +11% to +15%, Revenue growth -4% to +1% and Adjusted EBITDA growth -5% to -2%, and Operating Free Cash Flow conversion between 90% and 100%. Medium-term guidance is unchanged.

First half 2026 Financial Performance Summary1

6 months
ended 31
March 2026

6 months
ended 31
March 2025

Change
constant
currency2

Change 

Total Transaction Value (TTV) (€m)

3,770

3,370

+17 %

+12 %

Revenue (€m)

309

319

+1 %

-3 %

Adjusted EBITDA (€m)

163

159

+9 %

+3 %

Delivering profitable growth

Group TTV increased to €3.8bn in the first half, up +17% at constant currency. TTV contribution increased from shorter lead-time bookings, Third Party Supply and Online Travel Agents.

Revenue of €309m, increased +1% in constant currency. Take rate was 8.2%, down 1.3ppts year‑on‑year.

Adjusted EBITDA increased 9%, with margin +4ppts.

Net finance costs were €35m, 77% lower than the prior year. The tax charge was €16m. Adjusted Earnings were €83m, up +44% at constant currency.

Delivering commercial milestones in line with strategy

Commercial progress in H1 2026 reflected HBX Group’s strategy to expand its global travel ecosystem and drive profitability through AI-driven operational efficiency and commercial performance. Key developments included new distribution partnerships in Asia-Pacific, acquisitions such as Bridgify and PerfectStay to strengthen experiences and dynamic capabilities, and new platform and fintech initiatives.

HBX group also continued embedding AI across products and operations, including AI-powered solutions for Bedsonline and HotelTech, while scaling internal AI agents already delivering measurable savings and supporting more than 120 identified use cases, reinforcing the Group’s connected B2B travel ecosystem strategy.

Regional performance and trading dynamics

TTV grew in double-digits in all three regions, up +18% in the Americas and +16% in both MEAPAC and Europe, at constant currency.

In Europe, TTV growth was supported by strong intra‑regional and domestic travel. Asia Pacific up +18%, partly offset by slower growth in the Middle East and disruption on some Europe-Asia corridors. In the Americas, TTV was predominantly driven by domestic demand.

Middle East impact and near‑term outlook

Since late February, the escalation of the conflict in the Middle East has impacted travel demand across affected destinations and selected international corridors, resulting in increased volatility, shorter booking windows and reduced near‑term visibility. The impact of this on H1 Group TTV growth was approximately 1ppt.

HBX Group implemented dynamic pricing, inventory reallocation and active partner support. Demand outside affected corridors has been more resilient.

Cost discipline, cash generation and capital allocation

Underlying operating costs fell by 5%. Performance was supported by productivity initiatives, automation and AI.

On a last 12-month basis, Operating Free Cash Flow was €447m, with cash conversion of 103% over the last 12 months. Adjusted Net Debt at 31 March 2026 stood at €741m.

Outlook

The Group started FY26 with strong performance. Since late February, trading conditions have been adversely impacted by the escalation of the conflict in the Middle East and broader geopolitical uncertainty.

The Group has revised its FY26 guidance. Updated outlook reflects a -4ppt effect of the Middle East conflict on TTV growth. Assumes four months of disruption with gradual stabilisation.

For the complete press release and disclaimer applicable to this information, please visit www.investors.hbxgroup.com

1 See financial statements for definitions of specific financial terms and KPIs, including any Alternative Performance Measures (APMs)
2 Constant currency changes exclude the impact of foreign exchange rate fluctuations by translating current year results at the exchange rates used in the prior year.

Contact: 
Clara Truyols
clatruyols@hbxgroup.com 

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SOURCE HBX Group

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