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Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
Key regions: Brazil, Canada, Germany, Denmark, United Kingdom
The lamps and lighting segment experienced choppy revenue growth during the Covid-19 pandemic as consumers shifted their spending priorities towards essentials items and home office equipment, rather than decorative lighting fixtures. Growth in this segment is primarily driven by the increasing demand for energy-efficient and eco-friendly lighting solutions, as well as the growing consumer preference for smart lighting solutions.
One of the key trends in the lamps and lighting market is the adoption of LED technology. LED lighting solutions are highly energy-efficient, have a longer lifespan, and offer a wide range of color temperatures and lighting effects. As a result, LED lighting solutions have become the go-to choice for consumers.
Another trend in this segment is the increasing demand for smart lighting solutions. Smart lighting solutions can be controlled remotely via smartphones or voice assistants, and they offer a wide range of features such as color changing, dimming, and scheduling. With the growing adoption of smart home technologies, smart lighting solutions are becoming increasingly popular among consumers.
The lamps and lighting segment is anticipated to sustain growth in the forseeable future, fueled by the increasing demand for energy-efficient and environmentally friendly lighting alternatives, coupled with the expanding adoption of smart lighting technologies. To thrive in this competitive market, retailers must conform to these trends by providing innovative and dependable lighting solutions.
Data coverage:
Data encompasses B2C enterprises. Figures are based on home furnishings and furniture found in every room of the home. This market is segmented by the room where the furniture is likely to be used and consists of the following: Living Room, Bedroom, Kitchen and Dining room, Bathroom, Outdoor, and Home Office. The Furniture market also includes Lamps and Lighting and Home Decor because the furnishings and accessories within these segments are not specific to any room.Modeling approach / Market size:
Market sizes are determined by a top-down approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use national statistical offices, international institutions, in-house market research, and resources from the Statista platform. Next we use relevant key market indicators and data from country-specific associations such as consumer spending and GDP. This data helps us to estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing is well suited for forecasting the Furniture market with a projected steady growth. The main drivers are furniture and furnishings, carpets and other floor coverings, and consumer spending per capita.Additional Notes:
The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)