Emergency Lighting Market Growing with CAGR 6 % | By Global Leaders Philips Lighting Holding B.V, Hubbell, Cooper, Schneider Electric, Emerson, Legrand S.A., Acuity Brands, Beghelli S.p.A., Daisalux, Zumtobel, and Forecast Up To 2023

Global Emergency Lighting Market, By Components (Hardware, Software, Services), By Power System (Self-Contained), By Battery Type (Ni-Cd, Lead Acid), By Light Source (Incandescent), By Application (Residential) - Forecast 2023

Market Synopsis:

With the increase in disposable income of the consumers, the need for safety and security solutions has enhanced in the last few years. The emergency lighting market demand has escalated with the growing demand for safety due to factors such as low price of lights, innovative products, longer life span, etc. The latest report published by Market Research Future (MRFR) reveals that the market will grow at a CAGR of 6% during the forecast period (2017-2023). It can touch an approximate market valuation of USD 7 Bn by 2023.

Some of the factors driving the growth of the market are the replacement of legacy technologies with next generation technology, investments in research & development to improve performance, declining cost of light-emitting diodes (LED), self-diagnostic functions, etc. Increasing interest of governments and stringent laws regarding fire & safety have magnified the requirement for emergency lighting systems. Furthermore, growing urbanization and increasing infrastructural projects have also propelled the market growth.

Some of the factors which can hamper market growth are high operational costs, requirement of enormous investment, lack of standardization, etc.

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Key Players:

The prominent players in the emergency lighting market are- Philips Lighting Holding B.V. (Netherlands), Hubbell Lighting Inc. (U.S.), Cooper Industries (Ireland), Schneider Electric SE (France), Emerson (US), Legrand S.A. (France), Acuity Brands (U.S.), Beghelli S.p.A. (Italy), Daisalux (Spain), Zumtobel Group (Austria), among others.

Global Emergency Lighting Market Segmentation:

By Components, the market has been segmented into hardware, software, and, services. With the technological advancements, the user interface has evolved over the time making it more and more convenient for the users.

By power system, the market is segmented into self-contained, central, and, hybrid. The self-contained segment is one of the fastest growing segments of the market. It is generally used in small buildings with lesser lighting points and can be operated in both maintained as well as non-maintained modes.

By battery, the market has been segmented into nickel-cadmium (Ni–Cd), nickel-metal hydride (Ni–MH), lithium iron phosphate (LiFePO4), and Lead–Acid. LiFePO4, can register the highest demand owing to properties such as high resistance for temperature, durability, light-weight nature, etc.

By light source, the market is segmented into fluorescent, LED, incandescent, induction, and, others. The demand for incandescent lights is on a downward trend owing to being less energy-efficient than its counterparts, whereas, LED accounts for highest share in the market owing to factors such as longer life span, energy efficiency, etc.

By application, the market has been segmented into residential, commercial, industrial, and, others. The adoption of emergency lighting for the residential sector has increased over time, which has encouraged the producers to expand their portfolio for residential emergency lighting.

Regional Analysis:

By region, the market has been segmented into Asia Pacific, North America, Europe, and Rest-of-the-World (RoW). With the increase in demand for emergency lights in commercial, industrial, and, residential sectors, the North America region will dominate a significant part of the emergency lighting market. Technological advancements and increased research & development are making way for easy adoption of emergency lights.

Asia Pacific region is expected to grow at the highest CAGR during the forecast period owing to amplified demand and widespread adoption of emergency lighting. Emerging economies such as India and China are witnessing urbanization at a fast pace which has catapulted the market demand for emergency lighting systems in the region. The multiplying construction projects are also escalating the demand in the region. For instance, the Indian government has resolved to build 100 smart cities which has intensified the need for emergency lighting in the region.

Competitive Dashboard:
The prominent players of the emergency lighting market are incessantly endeavoring to gain an edge over its competitors by investing in research & development, expansion of product portfolio, innovation, building partnerships, etc. Some of the eminent players profiled in the report are Acuity Brands (U.S.), Hubbell Lighting Inc. (U.S.), Schneider Electric SE (France), Legrand S.A. (France), Beghelli S.p.A. (Italy), Zumtobel Group (Austria), Philips Lighting Holding B.V. (Netherlands), Cooper Industries (Ireland), Emerson (US), Daisalux (Spain).

Industry News:

Phoebe LED has launched Spectrum downlight range of products which is app-controlled. This emergency version, i.e. ‘Spectrum Emergency’ is different as it is the only downlighter in the market today that is self-contained and rated by the Lighting Industry Association. Additionally, it does not require a separate LED charge indicator to be attached next to the fitting.

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Intended Audience:

Investors and consultants
System Integrators
Government Organizations
Research/Consultancy firms
Technology solution providers
IT Solution Providers
Original Equipment Manufactures
Emergency Lighting Manufacturers
Emergency Lighting Software Manufacturers
Residential end-users
Commercial end-users
Industrial end-users

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This release was published on openPR.