Global Specialty Lighting Market size is expected to reach $8.3 billion by 2026

The Global Specialty Lighting Market size is expected to reach $8.3 billion by 2026, rising at a market growth of 8.8% CAGR during the forecast period.

The key factors for the growth of the industry are the growing number of live music activities and concerts; stringent government restrictions on air, water and surface disinfection; increasing prevalence and acceptance of surgical lighting for minor and large surgical procedures; and reducing costs and increasing prevalence of LEDs. The underlying market trends include growing demand for ultra-pure water from end-use industries and strong growth prospects for new applications.

Entertainment lighting is leading the market for specialty lighting. Entertainment lighting requires lamps that retain the audience's attention and provide the performers with sufficient power, colour distribution and direction. Entertainment lighting has a variety of applications, such as stage, studio and others. Stage lighting leads the entertainment lighting segment, followed by studios and others, and this pattern is expected to stay consistent over the coming years. Due to the growing number of music events, the demand for special lighting for entertainment is likely to increase over the coming years.