Press release
World Class Research Report Of Outdoor LED Lighting Market 2022-2032
Some of the major factors contributing to the high demand for outdoor LED lighting market include the increasing need for highly energy-efficient lighting systems with low maintenance costs, the increasing number of construction and infrastructure projects, the rising demand for energy-efficient lighting systems, modernization, and development of infrastructure such as smart cities.
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Outdoor LED Lighting Market Dynamics :
Driver : High demand for LED lighting
The application area of LED lighting extends to warehouses, residential and commercial facilities, government buildings, and other areas. Electricity is mainly used for lighting streets and public spaces, cities, towns, and villages worldwide. A paradigm shift from traditional lighting systems to connected LED technology is the key to energy and cost effectiveness in all lighting applications.
The development of alternative lighting technologies, such as laser lights, can be viewed as a restraint for the outdoor LED lighting market. Laser lights have been proven more efficient than LEDs and are almost equally cost-effective in manufacturing. Applications of laser lights in entertainment displays and architectural lighting are already becoming popular, which can lead to the stagnating growth of LED lighting in architectural applications.
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In recent years, developments have been taking place toward integrating wired and wireless technologies. BACnet has added wireless networking options by adding the ZigBee profile to the LED lighting system. ZigBee is a wireless technology designed to address the requirements of the low-cost, low-power wireless sensors and control networks in the LED lighting system. This integration between BACnet and ZigBee would create an efficient and connected LED lighting system. The other wireless communication technologies used in LED lighting systems are EnOcean, Z-Wave, and Wi-Fi. These wireless networks offer one of the biggest opportunities in connected outdoor lighting, especially in the areas of the retrofit segment.
Hardware segment to dominate outdoor LED lighting market between 2022 and 2027
The hardware segment led the global outdoor LED lighting market in 2021 and is expected to continue its dominance by 2027 due to the increasing deployment of lamps, luminaires, and control systems in numerous outdoor applications, such as streets and roads, public places, sports complexes, and large areas. The luminaire hardware segment is expected to provide a lucrative opportunity during the forecast period.
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Key Market Players in Outdoor LED Lighting Market
Signify Holding (Netherlands), Acuity Brands (US), Cree Lighting (US), Dialight (UK), and Panasonic Corporation (Japan) are among the major players in the outdoor LED Lighting market.
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