Global Outdoor Lighting Market - Forecast to 2023 - Adoption of Novelty Lighting is the Key Trend in this Market
The global outdoor lighting market is projected to grow at a CAGR of 8.4% during the forecast period.
The concept of smart outdoor lighting is gaining popularity as it finds promising applications in several areas of outdoor lighting, including roadways and highways, city parks and public areas, sports parks, commercial site lighting, outdoor parking lots, and university and college campuses. As electricity prices has been constantly increasing, more number of municipalities, across the globe are switching over to smart outdoor lighting to reduce functional costs while improving efficiency and safety. Benefits associated with the deployment of smart outdoor lighting includes, up to 40% - 50% energy savings, automatic, real-time diagnostics and creation of a communications connected infrastructure. During the last few years, many projects verified that utilizing a smart and connected lighting solution diminishes energy expenditure, decreases maintenance costs, enhances safety in the public spaces and lowers the environmental impact.
Adoption of novelty lighting has also been observed as the major trend in the global outdoor lighting market. Several homeowners across the globe are utilizing novelty lighting for gardens, to create their completely unique outdoor lighting displays. Novelty outdoor lighting offers various ways to express their characters and creativity. For instance, hipsters in Seattle, the U.S., are setting up lighting displays in the shape of bears, dogs and variety of other animals.
Increasing focus towards offering solar power based outdoor lighting sources to offer more ecological and energy-saving lights have caught on in recent years. Companies, operating in the global outdoor lighting market, across the globe are finding creative ways to present solar-powered lighting systems, by taking benefits of the sun's energy to charge the batteries within. Solar-powered lights use nature's renewable energy sources in an intelligent and efficient way and helps in energy conservation along with the cost savings.
Key Topics Covered:
1. Research Background
2. Research Methodology
3. Executive Summary
5. Market Size And Forecast By Lighting Type
6. Market Size And Forecast By Technology
7. Market Size And Forecast By Application
8. Market Size And Forecast By Geography
9. Competitive Landscape
10. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/research/x5chsp/global_outdoor
Research and Markets
Laura Wood, Senior Manager
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716