Tuesday, February 18, 2025

Industrial Lighting Market Expected to Expand by USD 3.25 Billion Between 2024 and 2028, Fueled by Demand for Energy-Efficient Solutions and AI Innovations

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Industrial Lighting Market Expected to Expand by USD 3.25 Billion Between 2024 and 2028, Fueled by Demand for Energy-Efficient Solutions and AI Innovations
The global industrial lighting market is projected to expand by USD 3.25 billion from 2024 to 2028, driven by a compound annual growth rate (CAGR) of 6.43%, as reported by Technavio. The surge is largely attributed to the increasing adoption of energy-efficient technologies, especially LED lighting, as industries transition away from traditional sources like incandescent and fluorescent bulbs. Key players in the market include Acuity Brands, General Electric, and Signify, among others. However, challenges such as high initial costs for advanced lighting solutions and the logistics of installation persist. The report highlights ongoing trends in smart lighting systems, which utilize sensors and connectivity to further enhance energy efficiency and operational performance in industrial settings, while also noting the impact of rising energy prices on market dynamics.
Original source:
https://www.prnewswire.com/news-releases/industrial-lighting-market-to-grow-by-usd-3-25-billion-from-2024-2028--driven-by-energy-efficient-lighting-adoption-with-ai-reshaping-the-market---technavio-302330871.html

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