Global Outdoor Lighting Market to Witness 8.4% CAGR during 2017 – 2023

According to a new market research report “Global Outdoor Lighting Market Size, Share, Development, Growth and Demand Forecast to 2023 – Industry Insights by Lighting Type (High Intensity Discharge (HID) Lamps, Light Emitting Diode (LED), Fluorescent Light and Plasma Lamps), by Technology (Fixture and Control) and by Application (Street Lighting, Highways, parking Lots, Stadiums, Tunnel Lights and Others)” published by P&S Market Research, the global outdoor lighting market is expected to witness 8.4% CAGR during 2017 – Browse Report Description at: analysis/outdoor-lighting-market analysis/outdoor-lighting-market Global Outdoor Lighting Market

As per the research, the global outdoor lighting market is likely to grow at a CAGR of 8.4% during the forecast period. Outdoor lighting refers to the use of outdoor illumination of private gardens and public landscapes for the improvement and determinations of security, nighttime aesthetics, convenience and safety. Various types of lighting sources being utilized for outdoor lighting includes LEDs, fluorescent lights, HID lamps and plasma lamps. Among various types of lighting sources, LEDs enable outdoor lighting with exceptional benefits of higher efficiency and environment safety. Increasing demand for energy-efficient lighting solutions across the globe, modernization and development of infrastructures such as smart cities, reduction in the prices of LEDs, and increasing penetration of LEDs as a light source in various outdoor lighting applications, including streetlights, parking lots and tunnel lights, are the major factors likely to bolster the growth of the market during the forecast period. Global outdoor lighting market to record moderate growth during forecast period Global Outdoor Lighting Market

As per the findings of research, HID lamps have been the largest contributor of outdoor lighting. However, market for LEDs are expected to register the highest growth during the forecast period. HID lamps are rapidly being replaced by LEDs owing to the strong government support for the safety of environment. In addition, the slow growth rate for HID lamps market is due to several disadvantages of the lamps, such as longer time to cool down and restrike when power is disrupted, and consuming some time to warm up while starting. Considering the market, on the basis of technology, lighting fixture segment is likely to spearhead the technology category, with higher revenue contribution. However, lighting control technology segment is expected to register faster growth during the forecast period. The adoption of control technology is increasing with LEDs lighting due increase in functionality with giving comfort, security and flexibility to lighting solutions. Insights on market segments Global Outdoor Lighting Market

Streetlighting application segment contributed the largest to the global outdoor lighting market and is also expected to be the leading application segment, during the forecast period. Governments in various countries are focusing towards building high class infrastructure to attract foreign players to invest across the respective country. In addition, the local authority body of the respective country is also focusing towards deploying various types of lighting solutions in the streets for better monitoring and security. For instance, in 2013, San Francisco Public Utilities Commission (SFPUC), the U.S., successfully completed a pilot project to install LED street light. In March 2015, Minnesota Public Service Commission announced to replace around 100,000 lights through-out the state over the next five years. Global Outdoor Lighting Market

Geographically, Asia-Pacific has been the largest market for outdoor lightings. The gravity center for the outdoor lighting market has clearly moved to Asia, in particular for chips and epiwafers, and also for packaged lighting sources. The supply chain structure of outdoor lighting sources consists of product design, product manufacturing and marketing & sales. In Asia-Pacific, most of the companies operating in this market are involved in product designing and product manufacturing for the companies operating in other regions. However, most of the non-Asian companies are in charge of marketing and sales. For example, European companies are active in designing and marketing and sales and often outsource manufacturing in Asia. Being a manufacturing hub for outdoor lighting sources, Asia-Pacific contributed the largest to the global outdoor lighting market. Further, it is also expected to witness fastest growth globally, during the forecast period. The high growth is expected due to the region being major hub for manufacturing and distribution of LED based lighting systems, and a major exporter of energy efficient lighting solutions, globally. Asia-Pacific stands as the largest outdoor lighting market Global Outdoor Lighting Market

The energy consumption in the progressing global economy is expected to increase, especially with the growing energy demand in developing countries, such as China and India. Also, the risk of climate change associated with the use of fossil fuels has made supply of energy difficult. A shift towards light emitting diode (LED) lighting and high intensity discharge (HID) lamps can be seen in the outdoor applications, due to government support and longer lifetime offered by these technologies. The Government of China supports the installation of outdoor LED lighting, which is supporting the growth of the global outdoor lighting market. Concern for energy saving in outdoor arena empowering the outdoor lighting market Global Outdoor Lighting Market

Some of the major players in the global outdoor lighting market include Philips Lighting Holdings, General Energy Connections, Osram Licht, Hubbell Incorporated, Cree Inc, Eaton Corporation, Syska LED, Virtual Extension, Dialight Plc, Zumtobel Group AG. Key players account for major market share Global Outdoor Lighting Market

analysis/outdoor-lighting-market/report-sample Download report sample at: Global Outdoor Lighting Market

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