Market Forecast and Analysis: Photonics and Electronics
ElectroniCast – www.electronicast.com
ElectroniCast, founded in 1981, specializes in forecasting trends in technology, markets, and applications forecasting, strategic planning and consulting. ElectroniCast Consultants, as a technology-based independent forecasting firm, serves industrial companies, trade associations, government agencies, communication and data network companies, and the financial community.
April (2022) - According to a new market forecast report from ElectroniCast, the global consumption of LED professional lighting lamps/fixtures reached $331 million in 2021. During the forecast period, the value of the LED fixtures with lamps is expected to increase to $550 million in the year 2031. Market forecast data in the study report refers to consumption (use) for a particular calendar year; therefore, this data is not cumulative data.
The worldwide value of LED-based production lighting in the Television/Broadcast segment reached $206 million in 2021, compared to nearly $89 million in the Motion Picture (film) category and the remainder in the Videography industry segment. The TV/Broadcast industry sector is continuously challenged with expenditure reduction, due mainly to the decline in advertisement revenue; however, paid subscription-based TV, supplements the television sector in terms of upgrades in lighting.
High-performance TV/Broadcast cameras require professional-grade lighting to achieve the highest expectations for Slow Motion and High Definition (HD) TV standard-based production; therefore, along with the goal of energy efficiency, LED-based lighting is proving to be the next-generation winning technology choice for use in sports arenas and stadiums.
TV/Broadcast stations worldwide continue to retrofit their studios with LED-based production lights, to improve the picture quality with the new HDTV-based requirements. Also, other benefits of LED lighting versus the incumbent lighting are the consumption of less electrical power, since LEDs use less energy, and also less air conditioning is required since the heat generated by LED lights is negligible.
LED production lights in the motion picture/film category are driven by requirements for lighting effects and set lighting, mainly because of their flexibility. A single light source can generate a great variety of colors. Additionally, continuous cost/performance improvements driven by technological advancements are driving the LED lighting fixture market from a niche-only solution to a general use solution.
According to a new market forecast report from ElectroniCast, the global consumption of LED professional lighting lamps/fixtures reached $331 million in 2021. During the forecast period, the value of the LED fixtures with lamps is expected to increase to $550 million in the year 2031. Market forecast data in the study report refers to consumption (use) for a particular calendar year; therefore, this data is not cumulative data.
The worldwide value of LED-based production lighting in the Television/Broadcast segment reached $206 million in 2021, compared to nearly $89 million in the Motion Picture (film) category and the remainder in the Videography industry segment. The TV/Broadcast industry sector is continuously challenged with expenditure reduction, due mainly to the decline in advertisement revenue; however, paid subscription-based TV, supplements the television sector in terms of upgrades in lighting.
High-performance TV/Broadcast cameras require professional-grade lighting to achieve the highest expectations for Slow Motion and High Definition (HD) TV standard-based production; therefore, along with the goal of energy efficiency, LED-based lighting is proving to be the next-generation winning technology choice for use in sports arenas and stadiums.
TV/Broadcast stations worldwide continue to retrofit their studios with LED-based production lights, to improve the picture quality with the new HDTV-based requirements. Also, other benefits of LED lighting versus the incumbent lighting are the consumption of less electrical power, since LEDs use less energy, and also less air conditioning is required since the heat generated by LED lights is negligible.
LED production lights in the motion picture/film category are driven by requirements for lighting effects and set lighting, mainly because of their flexibility. A single light source can generate a great variety of colors. Additionally, continuous cost/performance improvements driven by technological advancements are driving the LED lighting fixture market from a niche-only solution to a general use solution.