Skip to main content

Sharp Surge Expected in Global Ambient Lighting Market in Near Future

The global ambient lighting industry reached a valuation of $60.8 billion in 2019 and it is predicted to progress at a CAGR of 9.2% between 2020 and 2030. Furthermore, the market will generate a revenue of $156.5 billion by 2030, as per the estimates of P&S Intelligence, a market research company based in India.

This will be because of the burgeoning requirement for energy-efficient lighting solutions and the increasing implementation of strict regulatory policies regarding energy efficiency in several countries. The ballooning demand for energy conservation is fueling the requirement for greater energy efficiency in various countries around the world.


Moreover, the governments of several countries are enacting stringent policies regarding energy efficiency, which is consequently propelling the popularity of energy-efficient lighting solutions across the world. For example, as per the U.S. Department of Energy, the U.S. Energy Standard for Buildings is a critical parameter for building designs and associated systems. It is also the national model code for all commercial buildings in the country.

According to several reports, the implementation of model energy codes for commercial and residential buildings is predicted to result in electricity costs savings of as much as $126 billion and a reduction of nearly 841 million metric tonnes (MMT) of carbon dioxideemissions. In recent years, China has become one of the largest consumers of energy in the world.

The country is currently accounting for nearly 14% of the total power consumption in the world. Due to this reason, the Chinese government made some serious commitments via its Development Plan for LED Lighting Industry in 2017.

Comments

Post a Comment

Popular posts from this blog

Demand for Webgames Set to Shoot Up in Asia-Pacific in Coming Years

The global webgame market valuation will rise from $3.5 billion in 2019 to $6.5 billion by 2030. Furthermore, the market is predicted to demonstrate a CAGR of 5.7% between 2020 and 2030. Depending on genre, webgames are classified into sports games, real-time strategy games, massive multiplayer online roleplaying games (MMORPGs), arcade games, and first-person shooters. Get the Sample Copy of this Report @ https://www.psmarketresearch.com/market-analysis/webgame-market-insights/report-sample Out of these, the popularity of first-person shooters will grow sharply across the world in the forthcoming years, as per the estimates of P&S Intelligence, a market research company based in India. These types of games are not like the third-person shooters, in which, the gamers can see the character which they are controlling. As these games are highly engrossing and thrilling, their popularity is soaring rapidly all over the world. Globally, the webgame industry is predicted to exhibit the...
Post a Comment
Read more

Revenue Explosion Predicted in Global Micro Battery Market During 2020—2024

The global micro battery market had a valuation of $418.2 million in 2018 and is predicted to generate a revenue of $1,100.0 million by 2024. Furthermore, the market will exhibit a CAGR of 18.4% between 2019 and 2024. The increasing usage of wearable devices, the rising integration of the internet of things (IoT) in medical devices, and the soaring usage of compact batteries in healthcare applications are the major factors fueling the progress of the market. The rising incorporation of the IoT in medical devices is an important factor propelling the growth of the micro battery market across the globe. With the soaring population levels and the rising prevalence of chronic diseases in various countries, the healthcare industry is rapidly adopting high-tech solutions. The growing usage of advanced medical devices and wearable electronics is causing huge improvements in patient care and treatment procedures. Moreover, it is massively reducing the healthcare costs.  For example, medic...
Post a Comment
Read more

3D Printing Ceramics Market Research by Products & Services, Components & Geography

The technology has created immense opportunities for product designing and helped in consolidating product assembly processes. Ceramics are mainly used for printing plates, cups, and other cutlery items. Ceramic prototypes are also used in high temperature application areas in the aerospace and automotive industries. Get a free sample copy of this report @  https://www.psmarketresearch.com/market-analysis/3d-printing-ceramics-market/report-sample Rapid growth in the 3D printing ceramics market is driven by rise in demand for 3D printing in the dental industry and product modification, and development in various end-use industries. 3D printing is gaining demand in the healthcare industry, especially for dental applications. Ceramics are being preferred for 3D printing of orthopedic and dental implants, and heart valves, due to their characteristics such as inertness, porosity, resistance to high wear, high compression strength, and capability to mold into a variety of shapes...
Post a Comment
Read more