Lamps & Lighting - Colombia | Statista Market Forecast

In 2024, the revenue generated in the Lamps & Lighting market in Colombia amounts to US$248.30m.
It is projected to experience an annual growth rate of 1.60% (CAGR 2024-2029).
When compared globally, United States generates the highest revenue in this segment, with a staggering US$32bn in 2024.
Taking into account the total population figures, the per person revenue in Colombia for 2024 is US$4.74.
Colombia's growing interest in sustainable design is driving a surge in demand for eco-friendly lamps and lighting solutions.

Definition:

The Lamps & Lighting segment covers different types of lamps and lights found inside buildings to provide light to carry out activities. This segment includes table and floor lamps, chandeliers, ceiling lights as well as other lamps and light fittings commonly found indoors. Candles, consumer electronics, and household appliances are not included in this segment.

Structure:

The Lamps & Lighting segment is divided into three subsegments:

The Table & Floor Lamps subsegment covers lighting fixtures designed to provide task or ambient lighting to indoor spaces. These lamps typically consist of a base, a stem, and a lampshade and contribute to the overall decor of a room while providing functional lighting.
The Ceiling Lights & Chandeliers subsegment refers to lighting fixtures that are mounted on ceilings to provide ambient lighting. These fixtures range from simple to elaborate lighting fixtures and are available in a variety of styles, sizes, and materials to suit different interior design tastes.
The Light Bulbs and Fittings subsegment includes products such as light bulbs, sockets, and other accessories used to provide and control lighting in indoor spaces.

Additional Information:

The Lamps & Lighting segment consists of revenue and average revenue per capita data. Per capita figures consider the whole population. This segment includes only business to consumer (B2C) sales. Business to business (B2B) sales (e. g., furniture for coffee shops, offices, etc.) are excluded in the figures shown. For more information on the displayed data, click the info button on the right-hand side of each box. In terms of key players in the furniture market, IKEA is the leading furniture company; however, with the rise of eCommerce, players such as Wayfair are gaining ground.

Chandeliers, wall, and ceiling lights
Standing lamps
Decoration lighting such as Christmas tree lighting
Light bulbs and fittings

Candles
Consumer electronics
Household appliances

The Lamps & Lighting market in Colombia has experienced steady growth in recent years, driven by customer preferences for energy-efficient and decorative lighting solutions. Additionally, local special circumstances and underlying macroeconomic factors have also played a role in shaping the market trends.

Customer preferences: in the Lamps & Lighting market in Colombia have shifted towards energy-efficient lighting solutions. With increasing awareness about the environmental impact of traditional lighting options, consumers are opting for led lights, which consume less energy and have a longer lifespan. led lights are also preferred for their ability to provide bright and focused lighting, making them suitable for both residential and commercial spaces. Additionally, there is a growing demand for decorative lighting solutions, as consumers seek to enhance the aesthetic appeal of their homes and workplaces. One of the key trends in the Lamps & Lighting market in Colombia is the increasing adoption of smart lighting systems. Smart lighting allows users to control the intensity, color, and timing of the lights through smartphone apps or voice commands. This technology offers convenience and energy efficiency, as users can easily adjust the lighting according to their needs and preferences. The growing popularity of smart homes and the Internet of Things (iot) has further fueled the demand for smart lighting solutions in Colombia. Another trend in the market is the rising demand for outdoor lighting solutions. As more people in Colombia are spending time in their outdoor spaces, there is a growing need for lighting options that can enhance the ambiance and security of these areas. Outdoor lighting fixtures such as garden lights, pathway lights, and security lights are in high demand, as they provide both functionality and aesthetics. In terms of

Local special circumstances: Colombia has a diverse climate with varying lighting needs. The country experiences both tropical and mountainous regions, which require different types of lighting solutions. For instance, in the coastal areas, where the climate is hot and humid, consumers may prefer lighting options that are resistant to moisture and corrosion. On the other hand, in the mountainous regions, where the climate is cooler, consumers may prioritize lighting options that provide warmth and coziness.

Underlying macroeconomic factors: also contribute to the development of the Lamps & Lighting market in Colombia. The country has been experiencing steady economic growth, which has led to an increase in disposable income and consumer spending. As a result, consumers are willing to invest in high-quality lighting solutions that offer durability and functionality. Additionally, the government has implemented policies and initiatives to promote energy efficiency, which has further encouraged the adoption of energy-efficient lighting options. In conclusion, the Lamps & Lighting market in Colombia is witnessing growth due to customer preferences for energy-efficient and decorative lighting solutions. The market is also influenced by trends such as the adoption of smart lighting systems and the demand for outdoor lighting solutions. Local special circumstances, such as the diverse climate, and underlying macroeconomic factors, including economic growth and government initiatives, also shape the market trends in Colombia.

Data coverage:

Data encompasses B2C enterprises. Figures are based on home furnishings and furniture found in every room of the home. This market is categorized by the room where the furniture is likely to be used and consists of the following: Living Room, Bedroom, Kitchen & Dining room, Outdoor, Home Office, and Baby & Children's Furniture. The Furniture market also includes Lamps and Lighting and Home Décor because the furnishings and accessories within these categories 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.

This report presents a comprehensive analysis and additional information on the Consumer market, in a PDF format.

From homeware to office furniture, even expanding over to pet care, the furniture industry is all-encompassing and ever-growing. Be it homes, schools, offices, or even outdoors, furniture is what gives a room its function and purpose.