(EMAILWIRE.COM, December 11, 2018 ) The Global Electric Lighting Equipment Manufacturing Market, a part of the electrical and electronics manufacturing industry, grew at a compound annual growth rate (CAGR) of around 7% during the historic period. This can be attributed to comparatively high demand for electric light bulbs and tubes from individual customers and commercial establishments. This includes chandeliers, ceiling or wall-mounted fixtures, recessed or track lights and lanterns mounted on the outside of the home.
In the forecast period, the global electric lighting equipment manufacturing market size is expected to be over $110 billion by 2021, growing at a CAGR of nearly 3%. This growth primarily due to comparatively low consumption of backlight lighting products, which are only used in electronic products manufacturing such as televisions and mobiles. Furthermore, rising population, increase in production methods for electronic products, and increasing per capita incomes are expected to drive the global electrical and electronics manufacturing industry in the future.
Find TBRCs report on the Electric Lighting Equipment Manufacturing market: http://www.thebusinessresearchcompany.com/report/electric-lighting-equipment-manufacturing-global-market-report-2018
Major lighting companies are integrating lighting fixtures with IoT technology to enable remote user control and for controlling lighting in office, work environment and city infrastructure. IoT technology is widely being used in homes and work places to integrate and control internal and external light fixtures.
Major companies in the electric lighting equipment manufacturing market, offering IoT technology include General Electric Corporation, Panasonic Corporation And Philip.
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