Skip to main content

COVID-19 Impact Review: Outdoor Lighting Market 2020, Outlook in 2030? | Know the Challenges and Trend Analysis

A major reason driving the growth of the outdoor lighting industry is the rising adoption of energy-efficient lighting solutions. These days, solar-powered lighting is emerging as a reliable and popular source of street lighting and is extensively being utilized around the world. Strict government regulations for the development of sustainable infrastructure, increasing public and private investments towards electrification of off-grid areas, and surging consumer awareness about climate change are the major factors leading to the rising adoption of solar-lighting systems. These systems further have low operational cost, owing to which, they are ideal for remote locations. 

As per a study by P&S Intelligence, the outdoor lighting market is predicted to reach a value of $23.8 billion by 2030, rising from $10.7 billion in 2019, advancing at a 7.3% CAGR during the forecast period (2020–2030). The market is witnessing growth due to the rising adoption of energy-efficient lighting solutions, increasing infrastructure development, and surging government initiatives towards attaining energy efficiency. In terms of lighting type, the market is divided into plasma lights, high-intensity discharge (HID) lights, fluorescent lights, and light-emitting diode (LED) lights.



Geographically, the Asia-Pacific (APAC) region dominated the outdoor lighting market during the historical period and is further expected to advance at the fastest pace during the forecast period. The market in the region is growing particularly due to the presence of key manufacturers, exporters, and distributors of energy-efficient lighting solutions. Furthermore, the rapid urbanization and rising requirement for intelligent solutions that facilitate energy management are resulting in the growth of smart city initiatives. This, in turn, is leading to the expansion of the market in the APAC regions. 

This market research report provides a comprehensive overview of the outdoor lighting market
  • Historical and the present size of the outdoor lighting market
  • Future potential of the market through its forecast for the period 2020– 2030
  • Major factors driving the market and their impact during the short, medium, and long terms
  • Market restraints and their impact during the short, medium, and long terms
  • Recent trends and evolving opportunities for the market participants
  • Historical and the present size of the market segments and understand their comparative future potential

Comments

Post a Comment

Popular posts from this blog

Revenue Explosion Predicted in Global Micro Battery Market During 2020—2024

The global micro battery market had a valuation of $418.2 million in 2018 and is predicted to generate a revenue of $1,100.0 million by 2024. Furthermore, the market will exhibit a CAGR of 18.4% between 2019 and 2024. The increasing usage of wearable devices, the rising integration of the internet of things (IoT) in medical devices, and the soaring usage of compact batteries in healthcare applications are the major factors fueling the progress of the market. The rising incorporation of the IoT in medical devices is an important factor propelling the growth of the micro battery market across the globe. With the soaring population levels and the rising prevalence of chronic diseases in various countries, the healthcare industry is rapidly adopting high-tech solutions. The growing usage of advanced medical devices and wearable electronics is causing huge improvements in patient care and treatment procedures. Moreover, it is massively reducing the healthcare costs.  For example, medic...
Post a Comment
Read more

Increasing Adoption of AR/VR Solutions To Drive Extended Reality (XR) Market

Growth factors such as the increasing adoption of augmented reality (AR)/virtual reality (VR) solutions, surging penetration of smartphones and connected devices, and rising number of partnerships and collaborations among players are expected to drive the growth of the extended reality (XR) market at a CAGR of 48.3% during the forecast period (2020–2030). With this growth rate, the market size is projected to reach $1,005.9 billion by 2030 from $18.6 billion in 2019. The increasing penetration of AR/VR solutions among people and industries is a key factor that will improve the extended reality market growth scenario in the coming years. To gain knowledge and for entertainment purposes, people are increasingly adopting head-mounted displays (HMDs), which is why market players are offering these solutions to provide an engaging and interactive customer experience. AR and VR add to or completely replace the visual reality for people, thus transporting them to a completely different world...
Post a Comment
Read more

India Structured Cabling Market Technological Advancements, Evolving Industry Trends and Insights

A number of factors such as booming requirement for high bandwidth, escalating need for effective cable management, and surging data center sector are expected to drive the Indian structured cabling market at a CAGR of 11.5% during the forecast period (2020–2030). According to P&S Intelligence, the market revenue stood at $508.0 million in 2020 and it is projected to reach $1,504.9 million by 2030. Moreover, the market is witnessing a trend of rapid digitization in India. One of the primary factors for the market growth is the burgeoning demand for high bandwidth, owing to the surging penetration of internet in Indian. Structured cabling enables high bandwidth, which has become a necessity for smooth operations in business organizations. This demand is rising at a rapid pace, owing to the high data transfer capability, flexibility, and low cost of the structured cabling. As it is the basis of efficient IT infrastructure, this type of cabling is getting attention from the government...
Post a Comment
Read more