What is Outdoor Lighting Market?
Outdoor lighting refers to the use of outdoor lighting in private gardens and public landscapes; to improve and for the purpose of safety, nighttime aesthetics, accessibility, safety, recreation, and sport, as well as social and event use. Outdoor lighting has illuminated many different professional fields. Industries as diverse as retail and marketing rely on outdoor luminaires to illuminate shops and office buildings. Facilities and equipment rely on outdoor lighting for added safety, while consumers demand everything from landscape lighting to decorative fixtures to complete their outdoor design. Regardless of the industry or use, outdoor lighting is a great addition to buildings to enhance their appearance and increase safety at night. In 2019, the global outdoor lighting market was worth approximately USD 10.7 billion. The value of this market should increase to around USD 23.8 billion by 2030.
The market study is being classified by Type (Flood Lights, Landscape Lights, Motion Sensor Lighting and Spotlights), by Application (Streets, Highways, Parking Lots and Stadiums) and major geographies with country level break-up.
GE (United States), Osram Licht AG (Germany), Panasonic (Japan), Toshiba (Japan), Cooper Lighting, LLC (United States), Eaton Corporation Plc. (United States), Hubbell Incorporated (United States), SYSKA (India), Acuity Brands Lighting, Inc. (United States), Signify Holding (India), Zumtobel (Australia), Cree Lighting (United States), Westinghouse Lighting (United States), Capital Lighting Fixture Company (United States) and Access Lighting (United States) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are EGLO Leuchten GmbH (Austria), ELK Group International (United States) and Kichler Lighting LLC (United States).
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. Research Analyst at AMA predicts that United States Manufacturers will contribute to the maximum growth of Global Outdoor Lighting market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Outdoor Lighting market by Type, Application and Region.
On the basis of geography, the market of Outdoor Lighting 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). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- The Rising Adoption of Outdoor Lighting Fixtures
- The Growing Adoption of Energy-Efficient Lighting Solutions
- The Growth in Smart City Projects
Market Trend
- Growing Consumer Awareness for Energy-Efficient Lighting Products
- The Emergence of Smart Outdoor Lights
- The Rising Replacement of Conventional Lighting System with Advanced Lighting
Restraints
- The Installation Costs of Outdoor Led Lights and Payback Period
Opportunities
- Increasing Government Initiatives toward Energy Efficiency
- Rising Infrastructure Development
Challenges
- Development of Alternate Technologies
Market Leaders and some development strategies
In April 2019, American Industrial Partners (AIP) announced the acquisition of Current, which is operated by General Electric, a startup subsidiary that provides energy management solutions for consumers. The current portfolio includes LED and traditional lighting solutions as well as a variety of intelligent controls, sensors, and software.
In September 2019 Signify Holding had launched new smart light products, including upgraded Hue Go, GU10, E14 smart bulbs, and smart buttons. With the Smart Plug, any table or floor lamp can be turned into a smart lamp that can switch the light on or off using Bluetooth technology.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Manufacturers of Outdoor Lighting, Suppliers of Outdoor Lighting, Venture Capitalists and Private Equity Firms and End-Use Industry