Table of Contents
Historical Data, Premium Insights, Market Dynamic, Analysis and Projection, By Product, Analysis and Projection, By Application, Analysis and Projection, By End-Use, Analysis and Projection, By Regional Analysis, Competitive Landscape, Company Profiles, Market Revenue, Sale & Price Analysis
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According to a research report published by Spherical Insights & Consulting, The Global Outdoor Lighting Market Size is Estimated to Grow from USD 17.34 Billion in 2023 to USD 40.05 Billion by 2033, Growing at a CAGR of 8.73% during the forecast period 2023-2033.
Browse key industry insights spread across 215 pages with 110 Market data tables and figures & charts from the report on the Global Outdoor Lighting Market Size, Share, and COVID-19 Impact Analysis, By Type (High-Intensity Discharge Lamps, LED Lights, Plasma Lamps, and Fluorescent Lights), By Application (Commercial and Residential), By Distribution Channel (Online and Offline), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.
The market for artificial lighting placed outside, such as on streets, highways, and lanes, is known as the worldwide outdoor lighting market. The combination of urbanization, infrastructure expansion, and the growing focus on energy-efficient solutions is driving a notable increase in the demand for outdoor lighting worldwide. To improve safety, energy efficiency, and aesthetic appeal, governments all over the world are making significant investments in smart city initiatives, which give priority to sophisticated lighting systems for streets, parks, and public areas. The incorporation of energy-efficient LED and solar lighting technology into municipal infrastructure is exemplified by programs like the European Union's Green Cities Program and India's Smart Cities Mission. Smart cities, which use cutting-edge technologies to enhance the quality of life, are being built with significant investment from both the public and private sectors. The outdoor lighting sector is expanding due in large part to the demand for these systems. However, the economic implications of deploying sophisticated technology and the uncertainty around return on investment (ROI) provide an urgent issue for the outdoor lighting market.
The LED lights segment held the largest share of 47.28% in 2023 and is estimated to grow at a CAGR of 7.78% throughout the projection period.
Based on the type, the global outdoor lighting market is categorized into high-intensity discharge lamps, LED lights, plasma lamps, and fluorescent lights. Among these, the LED lights segment held the largest share of 47.28% in 2023 and is estimated to grow at a CAGR of 7.78% throughout the projection period. Energy-efficient LED outdoor lighting fixtures use a lot less energy than conventional lighting technologies. The necessity to save energy expenses and carbon emissions to comply with environmental standards and sustainability goals is what is driving the market for LED outdoor lighting.
The commercial segment anticipated the largest market share of 65.20% in 2023 and is estimated to grow at a CAGR of 6.19% throughout the projection period.
Based on the application, the global outdoor lighting market is classified into commercial and residential. Among these, the commercial segment anticipated the largest market share of 65.20% in 2023 and is estimated to grow at a CAGR of 6.19% throughout the projection period. The desire to improve safety, operational effectiveness, and customer experience is the main factor driving the rising demand for outdoor lighting in commercial settings. Advanced lighting solutions are being used by office buildings, retail stores, and hospitality spaces to create welcoming spaces that complement brand aesthetics.
The offline segment accounted for the largest share of 66.18% in 2023 and is anticipated to grow at a significant CAGR during the forecast period.
Based on the distribution channel, the global outdoor lighting market is divided into online and offline. Among these, the offline segment accounted for the largest share of 66.18% in 2023 and is anticipated to grow at a significant CAGR during the forecast period. The immersive shopping experience that offline channels offer, which enables customers to check products and obtain personalized advice physically, is driving an increase in outdoor lighting sales. Various lighting solutions, including the newest styles and technology, are displayed in carefully chosen displays at retail stores, showrooms, and specialized lighting outlets to draw in customers.
North America is expected to hold the largest share of the global outdoor lighting market through the forecast period.
North America is expected to hold the largest share of the global outdoor lighting market through the forecast period. Strong infrastructure development and a greater focus on sustainability benefit the larger North American region and are major factors driving demand for outdoor lighting. Energy-efficient lighting installations in public areas are supported by Canadian programs such as the Green Infrastructure Fund, while businesses and municipalities can choose sustainable options owing to developments in solar and LED lighting technology.
Asia Pacific is predicted to grow at the fastest CAGR of the global outdoor lighting market over the forecast period. The need for outdoor lighting is rising quickly in Asia Pacific as a result of growing infrastructure developments, urbanization, and government-sponsored cleanliness and beautification initiatives. Further propelling market expansion is the region's growing use of solar and LED lighting technologies, which are aided by government subsidies and the expansion of e-commerce platforms.
Company Profiling
Major key players in the global outdoor lighting market include Signify Holding, ACUITY BRANDS, INC., Hubbell, Zumtobel Group, ams-OSRAM AG, Outdoor Lighting Perspectives, Savant Systems Inc (GE Lighting), Cree LED, SYSKA, Virtual Extension, and others.
Recent Developments
Key Target Audience
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global outdoor lighting market based on the below-mentioned segments:
Global Outdoor Lighting Market, By Type
Global Outdoor Lighting Market, By Application
Global Outdoor Lighting Market, By Distribution Channel
Global Outdoor Lighting Market, By Regional Analysis
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