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Please break down the lighting industry by vertical (architecture, residential, entertainment). Especially interested in LED lighting.
Hello and thank you for your request for the market sizes of the various segments of LED lighting. The most useful sources were LEDInsight, Persistence Marketing, and GMIsights. In short, the global LED lighting market was worth $29.096BN in 2016. Residential lighting made up 40% of the market, or $10.44BN. Architectural lighting was 18% or $4.76BN of the market and outdoor was 11.5% or $3BN. Commercial lighting makes up the balance of the market with approximately 37% market share. You'll find a deep dive of the research as well as the calculations I performed below.
GLOBAL LED LIGHTING MARKET
The LED lighting market was worth $26.096BN as of 2016. It is expected to grow to $33.1BN in 2017 as the penetration of LED lighting grows to 52%. By 2022 the market is expected to reach $54.28BN with a CAGR of 13%.
LEDInside reports that "LED lighting is to account for 23% of total lightings in Europe by 2016, which is the highest across the world." Zion market research puts that number as high as 31%. North America and China rank second and third respectively in terms of penetration. LEDInside says the Asia-Pacific region will grow the fastest.
LED LIGHTING VERTICALS BREAKDOWN
Market Research Store says in a press release that the 3 key verticals in LED lighting are Residential, Outdoor and Architectural. The balance of the market can be segmented into "commercial" use, which would include entertainment applications.
1) Residential LED Lighting
Residential LED Lighting accounted for 40% of the 2016 global market share. We can then calculate the 2016 value of the segment as $10.44BN (26.09BN*0.4).
Residential lighting includes home lighting applications including bathrooms, hallways, kitchens, etc.
2) Industrial/Outdoor LED Lighting
In 2015, the global Outdoor LED Lighting market was valued at $2.5BN and was expected to grow at a CAGR of 20% from 2016-2024.
From this, we can calculate that in 2016, the value of this segment was $3BN where 2.5(1+0.2)^1.
Further, we can calculate that Outdoor LED accounts for 11.5% of the total market ([3/29.096]*100).
Outdoor lighting includes billboards, traffic lights, video walls, and more. It is anticipated that the "increasing use of LED lighting for outdoor application such as roadways, traffic lights, tunnels, parking lots, and garages is expected to provide significant growth opportunities to this market in coming years," according to GlobeNewsWire.
3) Architectural LED Lighting
A 2015 report from Persistence Marketing says that globally the Architectural sector will reach $10.751BN by 2021, having grown at a CAGR of 17.9% from 2015-2021. Architectural LEDs had been valued at $3.421BN in 2014 with 25.5MM units sold that year.
With this information, we can say that the Architectural LED Lighting segment was worth $4.76BN in 2016, where 3.421(1+0.179)^2.
Further, we can say that this represents 18% of the overall LED market in 2016 ([3.421/29.096]*100).
The architectural segment of the LED lighting market includes "both functional and decorative lighting," according to GlobeNewsWire. The press release goes on to say "decorative LEDs are used to light up pools, gardens, fountains, and statues. The functional application includes landscaping and building facades." More than three quarters (77%) of architectural lighting will be used in commercial applications in 2015.''
4) Commercial LED Lighting
Commercial LED applications would include those for retail, entertainment, commercial buildings and more. If we assume that commercial makes up the balance of the market, we can calculate that in 2016 it had a market value of $10.9BN (29.096-10.44-3-4.76). This would mean Commercial LED Lighting would have a market share of approximately 37% (10.9/20.096).
CONCLUSION
To sum it up, the global LED lighting market was worth $29.096BN in 2016. Residential lighting made up 40% of the market, or $10.44BN. Architectural lighting was 18% or $4.76BN of the market and outdoor was 11.5% or $3BN. Commercial lighting makes up the balance of the market with approximately 37% market share.
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