Source From: financialexpressnow.com
Nowadays, the usage of programmable stage lighting equipment has increased for music events, stage shows, live in concerts, premier clubs, conference rooms, bars, theme parks, shops, and architectural environments across the world, leading to a tremendous rise in the global market for programmable stage lighting. In 2016, the market stood at US$1.19 bn. Thanks to the constant technological advancements, it is expected to rise at a CAGR of 7.0% over the period from 2018 to 2026 and increase to a value of US$2.29 bn by 2026.
The global programmable stage lighting market is majorly analyzed on the basis of the type of light, type of product, technology, and the application. Based on the type of light, the market is categorized into laser lights, LED lights, and halogen. The demand for LED lights is relatively greater than other types of lights and the trend is likely to continue in the near future.
On the basis of the type of the product, the market has been classified into moving head lights, strip lights, and PAR can lights. Strip lights surfaced as the leading contributor to this market in 2016 and are expected to remain so over the coming years. Moving head lights are also estimated to report decent growth in the years to come.
Based on technology, the market is segmented into Wi-Fi and Bluetooth. Entertainment places and theatres have emerged as the key application areas of programmable stage lighting. The demand for these lighting solutions is higher in the entertainment places segment. Researchers expect the scenario to remain same over the next few years.
North America to Continue Leading
The worldwide market for programmable stage lighting is also assessed on the basis of its geographical spread. North America, Europe, Asia Pacific, the Middle East and Africa, and South America are the main geographical categories of this market. In 2016, North America. In 2016, North America led the global market with a share of nearly 50%. Trailed closely by Europe, this regional market is expected to remain on the top spot over the next few years. The presence of established players and an advanced infrastructure is likely to support the North America market for programmable stage lighting in the near future.
Asia Pacific, on the other hand, has emerged as the most promising market for programmable stage lighting across the world. With ample untapped opportunities, this regional market is anticipated to continue offering lucrative growth opportunities to vendors over the forthcoming years.
Altman Lighting Co., PR Lighting Ltd., Guangzhou Yajiang Photoelectric Equipment Co. Ltd., Chauvet & Sons Inc., Guangzhou GTD Lighting Technology Co. Ltd., Martin Professional, General Electric Co., Clay Paky S.p.A., ADJ Products LLC., ROBE lighting s. r. o., Brand Lighting, and Robert Juliat are some of the key players in the global market for programmable stage lighting. The market demonstrates a highly competitive and a fragmented structure due to the presence of numerous participants.