$417.4 Million light meter market, 2023 electricity 2pm mp3

#

The light meter market is expected to grow from USD 305.1 million in 2018 to USD 417.4 million by 2023, at a CAGR of 6.47% between 2018 and 2023. The increasing demand for light meters in the photography and cinematography industry worldwide, regulations to improve workplace lighting, and government initiatives toward the standardization of lighting protocols are driving the light meter market. Major restraining factors for growth of the light meter market include the development of smartphone applications and light measuring devices to substitute light meters.

Light meters can have 2 types of displays – analog and digital. Digital light meters are easy to access as they operate by eliminating the need to analyze the position of a needle in a meter, unlike analog light meters. These light meters also provide more accurate readings than analog light meters, which leads to the dominant position of this segment in the overall light meter.

General-purpose light meters are usually basic light meter models designed for the measurements of general lighting. These are the budget models with a wide measuring range, working in more demanding applications. These devices are simple to use, compact, and rugged, and provide quick and accurate readings in normal lighting conditions. The major application areas for this product are indoor/outdoor light measurements, photography and cinematography, educational campuses, and office buildings with normal lighting, etc. The largest size of the general-purpose light meters is attributed to the lower price of these meters than other light meters. Also, these light meters have a wide measuring range to work in more demanding applications.

The 0- 200K lux range meters are likely to dominate the light meter market with larger size and higher CAGR during the forecast period as these light meters are used in a wider range of applications. On the other hand, the light meters with the lux range above 200K are costly, and their use is limited to high-end technical applications.

Optimum lighting plays a crucial role in capturing desired photo or video. Light meters recommend the optimum exposure and light levels for any portrait or scene. Advanced light meters feature the most innovative and advanced capabilities such as flash analyzing function, built-in wireless triggering, flash power control, and radio frequency compatibility. These factors contribute to the largest share of the photography and cinematography application in the market and the highest CAGR of the market for the same during the forecast period.

The majority of the countries in APAC are in the developing phase. The region mainly has emerging economies such as China, India, and South Korea, which are witnessing rapid rate of industrialization. Also, the majority of the market in APAC is still untapped for light meters and holds great potential. The region is still untapped for the growth of light meters and holds a lot of potential for growth in the upcoming years. Therefore, the market in APAC is expected to grow at the highest CAGR during the forecast period. Photography and cinematography is the rapidly growing industry in APAC, which effectively uses light meters. Some of the countries in APAC such as India, China, and Japan have one of the most revenue impacting film industries.