According to the research report titled ‘Residential Lighting Products Market Size, By Product (Outdoor Lighting [Energy {Solar, Electric, Battery}, Product {Floor lamps, Table lamps, Wall lamps}, Power Level {40 Watt, 80 Watt}], Technical Lighting [Bathroom, Kitchen/Desk, Garage, Recess Spots, LED Panel/Strip LED], Decorative Lighting [Pendants & Chandeliers, Floor Lamps, Desk & Table Lamps, Wall Lamps, Ceiling Lamps, Deco Spots], Bulbs [Halogen, Compact Fluorescent, Linear Fluorescent, High Intensity Discharge]), By Sales Channel (B2C, B2B, E-commerce), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027’, available with MarketStudyReport, residential lighting products market size is anticipated to expand considerably through 2027.
 

Rising product demand globally, and increasing focus of manufacturers on product innovations are the major growth determinants for residential lighting products market.
 

Request sample copy of this report: https://www.marketstudyreport.com/request-a-sample/4202308/
 

Following the COVID-19 outbreak, governments around the world implemented temporary lockdowns, forcing people to stay indoors to prevent the spread of the novel coronavirus. As a result, rising demand for energy-effective and cost-efficient lighting solutions for residential applications will amplify the industry remuneration.
 

Notably, in recent years, smart lighting has gained a lot of traction. Smart LED bulbs come with software that links to an app, smart home assistant, or other smart accessories, letting users to automate or control lights remotely, removing the need for traditional wall switches. Companies are increasing their product offerings to capitalize on this trend, promoting a positive business outlook.
 

Based on product ambit of residential lighting products market, the bulb segment is anticipated to amass notable gains by 2027, owing to properties like low power consumption and superior efficiency.
 

In terms of sales channel, the B2C segment is expected to grow at a substantial pace during 2021-2027. The expansion is attributed to low operational cost and direct customer reach.
 

Considering the regional landscape, Asia Pacific held a significant market share in 2020 and is slated to grow momentously over the forecast duration, attributable to rising disposable income of consumers, and rapid urbanization, leading to widespread product adoption in China and India.
 

The key players in residential lighting products market are The Zumtobel Group, Panasonic Corporation, Osram Licht AG, LSI Industries Inc., Koninklijke Philips N.V., Kenroy Home, Hubbell Lighting Inc., General Electric Company, Everlight Electronics Co. Ltd, Eaton Corporation plc, Wolfspeed Inc. (formerly Cree Inc.), Corep Lighting India (P) Ltd., Briloner, Belid Lighting, and Acuity Brands Inc.