The global outdoor lighting market is anticipated to grow at a CAGR of 12.0% during the forecast period (2022-2028). The major factor expected to drive the market growth is the increasing demand for energy-efficient lighting systems across the globe, modernization and development of infrastructures such as smart cities that lead to the implementation of lighting systems based on the Internet of Things (IoT), penetration of LEDs as a light source reduction in the prices of LEDs in outdoor lighting applications, such as highways and roadways, architectural, and public places, among others. In addition, the increase in urbanization, rising government focus on energy conversation, development of wireless technologies for outdoor lighting systems, high-cost savings, growing population, and rising disposable income are some factors that propel the growth of the global outdoor lighting market during the forecast period.
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Some major players in the market include Eaton Corp., Koninklijke Philips NV, and General Electric Co., among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, new product launches, and collaborations, to stay competitive in the market. For instance, in January 2021, Signify Holding announced the launch of two outdoor lights to personalize gardens and porches, a new wall switch module, and a redesigned Philips Hue dimmer switch the two new outdoor LEDs include the Philips Hue Amarant linear spotlight and the Philips Hue Appear outdoor wall light in which Amarant can be mounted on the floor or upside down on an overhanging roof. Further, in November 2020, Osram India Pvt. Ltd. announced the launch of the new 17 models of LED such as Round VX80-WD, Round MX180-CB, Round MX260-CB, and Round VX70-SP which is comprised rear lighting, round headlights, and a street-approved light, which can be installed individually.
Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Type
- By Application
- By Wattage Type
- By Sales Channel
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Eaton Corp., Koninklijke Philips NV, and General Electric Co., among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Outdoor Lighting Market Report by Segment
By Type
- LEDs
- HID
- Others
By Application
- Highways
- Parking Lot
- Stadium
- Tunnels
- Building Exteriors
- Others
By Watt Type
- Less than 50W
- Between 50W and 150W
- More than 150W
By Sales Channel
- Hypermarket
- Supermarket
- Specialty Stores
- Multi Brands Store
- Online Stores
- Others
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