The global lighting fixtures market should hit $26 billion in 2017 and is anticipated to reach more than $76 billion by the end of 2025, according to a new research report published by Persistence Market Research. A rise in LED lighting penetration and demand for smart fixtures are the prime factors expected to drive the growth in revenue of the global lighting fixtures market. The global lighting fixtures market is expected to register a CAGR of 14% during the forecast period.
The report, "Lighting Fixtures Market: Global Industry Analysis (2012 to 2016) and Forecast (2017-2025)," says getting government contracts for replacing old infrastructure and continuously updating product portfolios are the key strategies being adopted by the manufacturers and other players in the global lighting fixtures market. Click here for more information on this report.