Programmable Stage Lighting Market to reach a value of US$2.29 bn by 2026

According to a new research report by Transparency Market Research (TMR), the global programmable stage lighting market is demonstrating a competitive vendor landscape, thanks to the presence of a large pool of participants. The degree of competition within this market is expected to increase substantially in the years to come, owing to the continual launches of innovative products. Altman Lighting Co., Guangzhou Yajiang Photoelectric Equipment Co. Ltd., PR Lighting Ltd., Chauvet & Sons Inc., Martin Professional, Guangzhou GTD Lighting Technology Co. Ltd., General Electric Co., ADJ Products LLC., Clay Paky S.p.A., Brand Lighting, ROBE lighting s. r. o., and Robert Juliat are some of the key vendors of programmable stage lighting products across the world, reviewed in this research study.

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As per the study, the global market for programmable stage lighting, which stood at US$1.19 bn in 2016, is expected to rise at a CAGR of 7.0% during the period from 2018 to 2026 and increase to a value of US$2.29 bn by the end of the period of the forecast. LED lights have been reporting a higher demand than any other type of programmable stage light and are expected to continue on the same path over the next few years. Strip lights have surfaced as the most favored product in this market and are projected to remain so in the years to come. North America led the global market in 2016 with a share of nearly 50%. Researchers anticipate the regional market to retain its position over the period of the forecast.

LED Lights to Report Maximum Demand

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.

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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.

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Availability of Cheap Lighting Products to Reflect Negatively on Market

On the other hand, the availability of cheap lighting products, especially in emerging economies, may limit the growth of the worldwide market for programmable stage lights in the near future. However, the shift of consumers in these regions towards LED-based programmable stage lighting is anticipated to normalize the impact of these restraints over the forthcoming years, states the research report.

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This release was published on openPR.