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The Global Outdoor Lighting Market size is expected to reach $23.2 billion by 2028, rising at a market growth of 8.4% CAGR during the forecast period
The term "outdoor lighting" refers to the artificial lighting that is permanently installed to illuminate places that do not have roofs, often known as "outside spaces." The objective of outdoor lighting is to preserve or enhance the visual performance of the people participating in human activities by lighting up the environment.
New York, Feb. 22, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Outdoor Lighting Market Size, Share & Industry Trends Analysis Report By Distribution Channel, By Application, By Source, By Regional Outlook and Forecast, 2022 - 2028" - https://www.reportlinker.com/p06422581/?utm_source=GNW
This is accomplished by illumination. The speed and precision with which a visual task is accomplished are what is meant when we talk about someone’s "visual performance." The ability to notice the things important to the work at hand is known as the "visual task."
The home’s organic appeal and vitality are both improved by the addition of outside lights. It highlights endearing details, lighting the way along paths, and creates an enticing atmosphere. Always put safety first in any situation. Evenings are a great time for outdoor activities, especially when the owner returns home; thus, the most important paths must be adequately illuminated. When the owners are not there, outside lighting might assist in protecting the property.
When darkness falls, having enough exterior lighting enables homes and other individuals to navigate their environments without risk. Driveways and stair railings are two great places to install outdoor lights that are set on posts. They can locate doors and exits, as well as illuminate entrances, with the assistance of outdoor wall lights. In addition, step, path, and address lights provide illumination for staircases and paths, respectively, while address lights provide simple navigation to the intended residence.
Intruders might be deterred from breaking into a property by using timers to turn on the outside illumination. They are also quite attractive. The outdoor wall lights look stylish, but their primary purpose is to improve safety without losing aesthetics.
COVID-19 Impact Analysis
Due to the rapid development of the COVID-19 pandemic, the governments of several nations have been obliged to ban activities that take place outside to contain the disease. Lockdowns were implemented during the first three months of 2020, which resulted in the temporary closing of parks and stadiums as well as traffic restrictions, which eventually led to a reduction in the use of outdoor lights. The rapid spread of the potentially fatal virus has had a substantial impact on the outdoor lighting systems market, which has slowed the industry’s expansion.
Market Growth Factor
The emergence of Intelligent Outdoor Lighting
The idea of installing intelligent lighting in public spaces, such as roadways and highways, public areas, commercial sites, sports parks, outdoor parking lots, and university and college campuses, is becoming increasingly widespread as a result of the promising applications that can be found for such lighting in a variety of public lighting settings. In addition, as the cost of power continues to rise, a growing number of municipalities worldwide are transitioning to smart lighting to save operational expenses while simultaneously boosting system efficiency and enhancing public safety.
Increases in the usage of light emitting diodes (LEDs) for outdoor lighting as well as overall infrastructure development in urban areas
LEDs are now the most effective and efficient kind of lighting that can be purchased anywhere globally. They are more cost-effective than conventional lighting solutions such as fluorescent and halogen lamps. Because LED lights are not extremely bright and have a longer lifetime (about 50,000 hours), there is no risk of eye discomfort from using them. LED lights also have superior quality. The usage of LED lights also contributes to a decrease in the amount of energy that is used throughout the globe since these lights are energy efficient.
Market Restraining Factor
LED lighting suffers from poor performance when exposed to high temperatures
LED chips and the goods that are directly connected to them have performance that is inversely proportional to temperature. When the temperature is increased, the performance of the LED will decrease. As a consequence of the constant current, the light output of an LED varies as a function of its junction temperature. This is due to the fact that LED lights are powered by electricity, which results in the generation of heat. The temperature at the high junction raises the temperature of the semiconducting element, which, as a consequence, causes the light output to drop at a more rapid pace over time.
Distribution Channel Outlook
Based on the distribution channel, the outdoor lighting market is categorized into offline and online. In 2021, the offline segment registered the highest revenue share in outdoor lighting market. This is because customers may experience the appearance and feel of the furnishings at offline locations, and employees can assist them in selecting outdoor lighting that meets their specific needs.
Application Outlook
Based on application, the outdoor lighting market is categorized into residential and commercial. In 2021, the residential segment covered a substantial revenue share in the outdoor lighting market. In recent years, a change in consumer attitudes toward convenience, entertainment, appearance, and technology has directly resulted from a desire to spend more money on lavish things. These views have been brought about by a desire to indulge in more extravagant consumption.
Source Outlook
Based on source, the Outdoor Lighting Market is classified into LED lights, High-Intensity Discharge Lamps, Plasma Lamps, and Fluorescent Lights. The LED lights segment held the largest revenue share in the outdoor lighting market in 2021. When used in outside settings, light emitting diodes, or LEDs, provide a variety of advantages due to their extended running hours and minimal needs for maintenance.
Regional Outlook
Based on region, the outdoor lighting market is divided into North America, Europe, Asia Pacific, and LAMEA. In 2021, the North America region led the outdoor lighting market with maximum revenue share. This put the region in the position of being the leader. Because more people in North America are holding family get-togethers and meals in their backyards and other outside places, there has been an increase in the demand for outdoor lighting.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include General Electric Company, Acuity Brands Lighting, Inc., Signify N.V., Zumtobel Group AG, Cree, Inc. (SMART Global Holdings, Inc.), OSRAM GmbH (AMS AG), Eaton Corporation PLC, Hubbell Incorporated, Virtual Extension Ltd. and Syska LED Lights Private Limited
Strategies Deployed in Outdoor Lighting Market
Jul-2022: Signify unveiled Philips GreenPerform Perfectfit downlight. This launch would allow customers to choose among a wide range of color and size options to match their requirements. Moreover, this product would also assist in lowering the carbon footprints with the help of sustainably-manufactured luminaire.
Jun-2022: Cree LED unveiled XLamp Element G LED. This launched product would deliver multicolour directional light for both outdoor and indoor use. The XLamp Element G LED can also be used for applications related to architecture, entertainment etc.
Mar-2022: Acuity Brands, Inc. unveiled Verjure, a professional-grade LED lighting solution for horticultural operations. This product is developed with the help of plant-based research and is built to support the plant from the vegetative stage to the flowering stage. Additionally, this device can be controlled easily with the help of wireless nLight AIR controls. This allows users to switch fixtures on and off, adjust output levels and dimness.
Jan-2022: Acuity Brands, Inc. collaborated with Microsoft, a multinational technology corporation. The collaborating companies would combine the technologies that would help in reducing carbon emissions along with reducing operating expenses. Additionally, this collaboration would add new capabilities to the products of Acuity Brands, Inc.
Jul-2021: Signify took over Telensa Holdings Ltd., a company delivering smart streetlight solutions. This acquisition would allow the company to cater for a wide range of customers by providing smart city infrastructure for the cities using unlicensed radio space.
Nov-2020: Signify introduced A-class MASTER LEDtubes and MASTER LEDbulbs. With this launch, the company continues to broaden its portfolio of ultra-efficient products. Moreover, the addition of GU10 LED spots in the suite would help the company to cater for every application.
Oct-2020: Acuity Brands, Inc. signed an agreement with Violet Defense LLC, a company providing UV disinfection solutions and Puro Lighting, LLC., a medical equipment manufacturing company. This agreement would permit the company to use Violet Defense’s UV technology to broaden Acuity Brands’ suite of UV disinfection products. Additionally, Acuity Brands would work with PURO to develop next-generation UV lighting products.
Mar-2020: Signify acquired Cooper Lighting Solutions, a company providing lighting solutions. This acquisition would help in creating significant value for the users by advancing connected lighting and adding innovation to it. Additionally, the acquisition would help the company to grow in the markets of North America and maintain its market position.
Sep-2019: Acuity Brands acquired The Luminaires Group, a company providing innovative lighting solutions. This acquisition would bring a considerable catalogue of products for the customers for various applications demanding great design, performance and innovative approach. This is possible by integrating the company’s smart lighting expertise with the brands of TLG.
Jun-2019: The Zumtobel Group partnered with Casambi, an IT Services and IT Consulting company. This partnership would combine the luminaire design with Bluetooth technology to simplify installation and lighting system operations. The interoperability would allow future applications and developments.
Scope of the Study
Market Segments covered in the Report:
By Distribution Channel
• Offline
• Online
By Application
• Commercial
• Residential
By Source
• LED Lights
• High-Intensity Discharge Lamps
• Fluorescent Lights
• Plasma Lamps
By Geography
• North America
o US
o Canada
o Mexico
o Rest of North America
• Europe
o Germany
o UK
o France
o Russia
o Spain
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Singapore
o Malaysia
o Rest of Asia Pacific
• LAMEA
o Brazil
o Argentina
o UAE
o Saudi Arabia
o South Africa
o Nigeria
o Rest of LAMEA
Companies Profiled
• General Electric Company
• Acuity Brands Lighting, Inc.
• Signify N.V.
• Zumtobel Group AG
• Cree, Inc. (SMART Global Holdings, Inc.)
• OSRAM GmbH (AMS AG)
• Eaton Corporation PLC
• Hubbell Incorporated
• Virtual Extension Ltd.
• Syska LED Lights Private Limited
Unique Offerings
• Exhaustive coverage
• Highest number of market tables and figures
• Subscription based model available
• Guaranteed best price
• Assured post sales research support with 10% customization free
Read the full report: https://www.reportlinker.com/p06422581/?utm_source=GNW
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