The outdoor lighting market is anticipated to hold a revenue of USD 12.57 billion in 2023, with expectations to cross a value of USD 25.67 billion by 2033, strengthening its boundaries at a steady CAGR of 7.4% during the forecast period.
The global promotion of efficient lighting is done by governants. In addition to addressing air pollution, outdoor lighting as well needs to be looked at. Similarly, the US government in August 2021 unveiled Climate Smart Building Initiative, which could help in creating partnership and coordination between government and private sector for upgrading energy-efficient structures.
As infrastructure develops, there’s a growing demand for lighting in streets, alleyways, and highways. Governments are increasingly seeking environmentally efficient and sustainable lighting solutions for these areas. LED and solar-powered lights are becoming more prevalent, significantly increasing the demand for outdoor lighting. The expansion of research and development facilities has led to the emergence of integrated lighting systems, including IoT-integrated lights, lamps, and waterproof outdoor wall lights.
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Future Market Insights, over its latest market study titled ‘Outdoor Lighting Market’, has carved these facts with future possibilities. It has its own analysts and consultants to provide the necessary service using an all-round 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.
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.
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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.
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 (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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