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Outdoor Lighting Market Trends

Report ID: GMI8670
Published Date: Mar 2024
Report Format: PDF

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Outdoor Lighting Market Trends

The widespread adoption of LED (Light Emitting Diode) technology continues to drive innovation and growth in the outdoor lighting industry. LED lighting offers numerous advantages over traditional lighting sources, including energy efficiency, long lifespan, durability, and design flexibility. As LED technology becomes more cost-effective and versatile, stakeholders increasingly embrace LED outdoor lighting solutions for various applications, including street lighting, landscape lighting, architectural lighting, and security lighting. The integration of smart lighting systems with IoT (Internet of Things) technology enables advanced functionality, remote monitoring, and data-driven insights in outdoor lighting applications.

Smart outdoor lighting solutions feature sensor-based controls, wireless connectivity, and cloud-based platforms that allow for real-time monitoring, adaptive lighting adjustments, and energy optimization. With the rise of smart cities and connected infrastructure initiatives, stakeholders leverage smart outdoor lighting to enhance efficiency, safety, and sustainability in urban environments. Human-centric lighting design principles emphasize the importance of lighting quality, color temperature, and intensity in promoting health, well-being, and productivity. Outdoor lighting manufacturers and designers increasingly incorporate human-centric lighting concepts into their products and projects, considering factors such as circadian rhythm, visual comfort, and glare reduction.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The market size for outdoor lighting was valued at around USD 37.4 Billion in 2023 and is estimated to register a CAGR of 5.1% between 2024 and 2032, driven by urbanization and development of infrastructure in urban and suburban areas.

Conventional LED lights segment share was worth USD 11.7 billion in 2023 and is expected to reach USD 18.9 billion by 2032, as they are highly energy-efficient, consuming significantly less energy than traditional lighting technologies.

North America outdoor lighting market value was around USD 7 billion in 2023 and is expected to reach USD 10.8 billion by 2032, driven by increasing emphasis on energy efficiency and sustainability initiatives.

Acuity Brands, Inc., Cooper Lighting Solutions, Cree, Inc., Eaton Corporation, General Electric Company, Hinkley Lighting, Hubbell Incorporated, Kichler Lighting LLC, and LEDVANCE GmbH are some of the major industry contenders.