About Outdoor Solar Light
The global outdoor solar lights market is expected to witness significant growth during the forecast period, according to the AMA study. This is owing to the rising number of solar lighting installations across different end-use applications such as street lighting, garden lighting, signal lights, and connected lighting systems. Moreover, growing adoption of solar technologies in order to reduce carbon footprints across different regions of the world and growing construction of smart and green buildings across emerging economies and high populated countries such as India and China are some of the major factors aiding into the growth of the market globally.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 25.19% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Outdoor Solar Light market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Signify Holding (Netherlands), Hubbell (United States), WIIP, Inc. (United States), INNOGEAR (United States), Sunix Inc. (Taiwan), URPOWER (China), Eaton (Ireland), Jinhua SunMaster Solar Lighting Co., Ltd. (China), Fonroche Lighting America, Inc. (United States), CLEAR BLUE TECHNOLOGIES INC. (Canada), FlexSol Solutions B.V. (Netherlands), Solar Lighting International, Inc. (United States), Carmanah Technologies Corporation (United States) and GiantFocal (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Outdoor Solar Light market by Type (Ground Stake, Motion Sensor, Hanging, Flagpole, Wall Mount and Others), Application (Garden, Street, Sign & Traffic, Emergency, Camping and Others) and Region.
On the basis of geography, the market of Outdoor Solar Light has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Lumens, the sub-segment i.e. Below 100 Lumens will boost the Outdoor Solar Light market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Technology, the sub-segment i.e. Wired will boost the Outdoor Solar Light market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Component, the sub-segment i.e. PV Cells will boost the Outdoor Solar Light market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Adoption of Solar Technologies Across a wide Range of Applications such as Commercial and Residental, The Growing Deployment of Solar Lights for Long-Run Durability, Quality, and Custom Applications across Commercial, Factories, and Cities and Growing Adoption of IoT Technology in Solar Lightings
Market Growth Drivers:
The Growing Adoption of Solar Electronics in Order to Reduce Carbon Footprints Across the World, The Rising Deployment of Outdoor Solar Lightings as Streetlights in Different Cities and The Growing Construction of Smart and Green Buildings
Challenges:
Challenges With Batteries Used to Store Solar Converted Electric Energy
Restraints:
High Initial Installation Cost for Outdoor Solar Lights such as Street Lighting Systems and Flood Lights
Opportunities:
Growing Number of Smart City Initiatives Across Emerging Economic Countries Will Drive the Demand for Outdoor Solar Lighting Systems Globally and Introduction of Smart Lighting Solar Systems
Market Leaders and their expansionary development strategies
In June 2023, Philips Lighting announced a strategic partnership with Sunverge Energy, a provider of smart energy storage solutions. This partnership aimed to integrate Philips' outdoor solar lights with Sunverge's energy storage systems, creating a more efficient and sustainable lighting solution.
In April 2022, Enphase Energy, Inc. (NASDAQ: ENPH) launched its Encharge Outdoor Smart Light, a solar-powered LED light designed for both residential and commercial applications. This product offered features like motion detection and dimming capabilities.
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.