Artificial lightening incorporated to maintain or to improve visual performance for outdoor human activities are known as outdoor lighting. These are used to illuminate public landscapes and gardens for the purpose of safety, security, accessibility, nighttime aesthetics, sports, and social events. These lights are used on the bridges, streets, parks, stadium highways, tunnels, and parking lots. 

With the increase in demand for energy efficient light and limited supply of energy drives the market toward cost-effectiveness, which boosts the growth of efficient outdoor lighting across the globe.

The outdoor lighting market is expected to witness robust growth during the forecast period. Expansion of smart cities have encouraged implementation and adoption of smart outdoor lighting solutions enabling remotely control of all the lighting points with the help of IoT technology. Outdoor lighting finds its application in highways, streets, stadiums, signage, and gas stations.

Expansion of smart cities, highways, stadium, and airfields augments the outdoor lighting market growth. Furthermore, increase in urbanization, favorable government policies, and high cost saving to create high demand for outdoor lighting in the upcoming year. 

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However, the industry faces challenges of high Installation cost and high import duties on LEDs lights. Such factors might dissuade the growth of the outdoor lighting market. 

Integration of IoT technology in smart lighting solutions, smart city projects and energy efficiency in developing economies to provide lucrative opportunities for the outdoor lighting market.

The outdoor lighting market is segmented into type, application, and region. Based on type, the market is classified into LED, HID and others. Based on application, the market is categorized into highways, parking lots, stadium, tunnels, building exteriors, and others. Based on region, it is studied across North America, Europe, Asia-Pacific, and LAMEA.

Key players profiled in the outdoor lighting industry include Philips Lighting Holding B.V.; Eaton Corporation; Cree Inc.; General Electric Company; Osram Licht AG; Acuity Brands, Inc; Hubbell Incorporated; Zumtobel Group; ABB Group; Legrand; Thorn Lighting; Syska LED; Ligman Lighting; LED Roadway Lighting; Kingsun Optoelectronic Co, Ltd; Evluma; Tanko Lighting; GOOEE; Neptune Light; Dialight; Rab Lighting; Nvc Lighting Holding Ltd; Daisalux; Virtual Extension; Agilight, Inc.

KEY BENEFITS FOR STAKEHOLDERS

  • This study includes the analytical depiction of the global outdoor lighting market along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information regarding the key drivers, restraints, and opportunities.
  • The current market is quantitatively analyzed from 2019 to 2026 to highlight the financial competency of the industry.
  • Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.

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