Growth of Live Music Industry to boost the Stage Lighting Market in Europe
Arizton’s recent market research report Stage Lighting Market in Europe provides comprehensive industry analysis, trend forecasts, and competitive analysis. The study includes insights by Product (fixtures and control), End-user (touring rental and fixed installation), Fixture (fixture movement and lighting source), Application (concerts/touring, corporate events, wedding, houses of worship, DJ retail/rec DJ, fitness sports, theatres, architectural and commercial installs, broadcast/TV/film, hospitality, and night clubs/bars), and Geography (UK, Germany, France, Italy, Spain, and Nordic Region)
The stage lighting market in Europe is expected to grow at a CAGR of over 4% during the period 2019–2025.
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Stage lightings are applied to form a spectacular lighting display during concerts, plays, operas, dance performances, theatre, and other performance art shows using a coordinated mechanism of several lighting equipment. Stage lights provide better sighting on the stage. However, these lights are also used to shape the audience’s focus with lights drawing their eyes on the stage. Effective use of stage lighting can transform a space into a lively place.
The leading drivers and trends driving the growth of the stage lighting market in Europe are discussed below:
Growing Adoption in Smart Wireless Lighting Control
Modern lighting technology comprises microprocessor-controlled, wired-and wireless-networked, plug-and-play, interoperable, connectable to the internet, analytics-driven, and artificial intelligence-backed. Lighting companies nowadays are looking for a transition wherein LEDs will remain dependent on smart wireless controls. With the estimated global market for smart lighting and connected lighting controls valued to reach more than $18 billion by 2023 from $8 billion in 2017, vendors can take up this segment of the industry as an opportunity to capitalize.
Increasing Sporting Events driving Demand for Stage Lights
The stage lighting market in Europe is likely to grow due to the increase in the demand for stage lighting in sporting events. Major sporting events both physical and virtual (such as esports) are scheduled worldwide during the forecast period. Some of the major physical sports events are FIFA World Cup in Qatar in 2022, and the Olympics in Tokyo in 2020. Further, new sporting events are being added in the Olympics with time. For instance, in 2013, the International Olympic Committee (IOC) announced to add wrestling to 2020 and 2024 Summer Games. In 2016, the IOC announced to add baseball/softball, karate, sport climbing, surfing, and skateboarding for the 2020 Summer Olympics. This inclusion will add 18 events in the 2020 Tokyo Olympics, which is expected to offer potential revenue opportunities in the stage lighting market in Europe, thereby boosting the growth during the forecast period.
Growing Live Performance & Music Industry
Stage lighting systems, along with associated sound systems are the heart of the live music industry globally. Recently, Europe has witnessed a spurt in the growth of live music concerts and events, which is likely to boost the stage lighting market in Europe. The major reason behind this growth is the revenue generation for artists that see live music concerts as a primary source of their income. An increasing corporate sponsorship for music tours, venues, and events is also contributing to the market growth. Further, the attendance at musical concerts is increasing exponentially as the audience get a chance to witness and experience their favorite artists performing on the stage. For instance, the total audience attending live music concerts, festivals, and events in the UK reached about 31 million in 2016.
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HARMAN International (Samsung), Osram, and Philips are identified as prominent vendors in the stage lighting market in Europe.
The complete overview of the latest market research report on the stage lighting market in Europe by Arizton is now available.
The report offers a detailed study of major trends, drivers, challenges and provides market sizing and forecast for major geographical regions and key countries.
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