Ambient Lighting Market to Hit $156.5 Billion Revenue by 2030

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Globally, the ambient lighting market registered the highest growth in the Asia-Pacific (APAC) region in the years gone by and is predicted to dominate the market in the forthcoming years as well. The growing population, increasing disposable income of people, and the expanding IT industry, especially in India and the ASEAN (Association of South East Asian Nations) countries, are the main factors fueling the advancement of the market in the region.

The major players operating in the global ambient lighting market are increasingly getting into acquisitions and mergers for increasing their range of product offerings and gaining foothold in the market. For example, Signify N.V. completed the acquisition of Cooper Lighting Solutions from Eaton Corporation Inc. for $1.4 billion, which was paid in cash, in March 2020. The acquisition is aimed at solidifying the position of Signify N.V. in the market in North America.

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Apart from the aforementioned acquisition, Signify N.V. also acquired a 51% stake in Zhejiang Klite Lighting Holdings Co. Ltd., which is a manufacturer of LED luminaires and lamps, in July 2019. This acquisition would help Signify N.V. expand its range of connected lighting products and solutions.

Besides Signify N.V., the other major ambient lighting market players are General Electric Company, Hubbell Incorporated, Cree Inc., Wipro Enterprises (P) Ltd., Samsung Electronics Co. Ltd., Zumtobel Group AG, Häfele GmbH & Co KG, Acuity Brands Inc., and OSRAM Licht AG.

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