The global outdoor lighting market is worth US$ 12.57 Billion as of now and expected to reach US$ 25.67 Billion by the year 2033 at a CAGR of 7.4% between 2023 and 2033.
Governments all over are into promotion of energy-efficient lighting. Outdoor lighting is also being worked upon on in line with this. The US federal government, in August 2022, unleashed Climate Smart Building Initiative, which could be enhancing collaboration of government with private sector for modernizing federal building.
Besides, solar energy is being used as source of renewable one. This would be another aspect of outdoor lighting market going forward.
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At the same time, volatility regarding prices of raw materials is expected to obstruct the flow of the market. This factor may restrain the market going forward. There could be another factor like improper maintenance of outdoor lighting, which may affect the overall construction.
Future Market Insights has etched these facts with future prospects in its latest market study entitled ‘Outdoor Lighting Market’. It has its team of analysts and consultants to do the needful using a 360-degree approach.
“With smart lighting being increasingly adopted, the global outdoor lighting market is expected to witness a constructive turbulence going forward”, says an analyst from Future Market Insights.
Key Takeaways from Outdoor Lighting Market
- North America holds the largest market share due to the US being subject to increasing industrial space that would require outdoor lighting.
- The Asia-Pacific is expected to grow at the fastest rate in the outdoor lighting market. This could be credited to consent of end-consumers to opt for wireless technology. Australia is another region witnessing growth on an extensive note with smart lighting being widely accepted.
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Competitive Arena
- Takiyo Japan is known to offer a plethora of solar lights having superior features. The lights have a higher battery capacity, are durable, and abreast with motion sensors with automatic ‘off’ and ‘on’ features. Lights could also be adjusted as per surroundings.
- Virtual Extension is making ways for smart control technology for LED street lights. VEmesh lighting system is known for integrating with intelligent management and control system. Control system facilitates control over LED lights by making use of Cloud services, thereby letting them turn off and on even at a distance.
- Smart Global Holding Inc., in March 2021, completed acquisition of LED product business of Cree Inc. with the objective of enhancing geographical reach.
- The White Teak Company, in December 2021, came up with Green Lights in various patterns and designs included in collection. Every item does feature LED bulbs and metal body. Bulbs could be mounted easily.
What does the Report throw light on?
- The research study is based on technology (control outdoor lighting and fixture outdoor lighting), by type of lighting (LED lights, plasma lamps, HID (high-intensity discharge) lamps, and fluorescent lights), by application (street lighting, tunnel lights, highways, and likewise), and by distribution channel z9commercial and retail).
- With intelligent infrastructure being on the anvil, the global outdoor lighting market is expected to grow on a sumptuous note going forward.
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Outdoor Lighting Market: Segmentation
By Technology:
- Control Outdoor Lighting
- Fixture Outdoor Lighting
By Type of Lighting:
- LED Lights
- Plasma Lamps
- High-Intensity Discharge (HID) Lamps
- Fluorescent Lights
By Application:
- Street Lighting
- Tunnel Lights
- Highways
- Others
By Distribution Channel:
- Retail
- Commercial
Key Regions Covered
- North America
- UNITED STATES
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- Germany
- United States
- France
- Spain
- Russia
- Rest of Europe
- Japan
- APEJ
- China
- India
- Malaysia
- Singapore
- Australia
- Rest of APEJ
- MEA
- GCC Countries
- Israel
- South Africa
- Rest of MEA
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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