At present, emergency light manufacturers are largely focusing on launching new and improved products to offer better alternatives to customers. For instance, in April 2019, Legrand SA introduced a new range of self-contained emergency lighting units, which are ideal for commercial facilities, especially offices. Likewise, in April 2020, ABB Ltd. introduced the Naveo Pro system, which enables users to check and keep a tab on the maintenance requirements of their systems.
According to P&S Intelligence, North America dominated the emergency lighting market in the recent past, due to the rising construction of residential and commercial buildings in the U.S. and the escalating focus of the U.S. government on adopting energy-efficiency lighting systems. For instance, the Energy Independence and Security Act enacted by the U.S. government encourages the adoption of energy-efficient lighting solutions, such as general service LED lamps, compact fluorescent lamps (CFLs), and organic light-emitting diode (OLED) lamps.
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Whereas, the APAC region is expected to adopt emergency lights at the highest rate in the foreseeable future. This can be ascribed to the soaring popularity of smart homes, surging implementation of supportive government policies regarding the adoption of LED lighting solutions in Japan and India, and the launch of government initiatives for developing smart cities in Thailand, India, South Korea, and China.
Besides, the mounting infrastructure expenditure in China and India will also augment the installation of emergency lighting systems in the region in the forthcoming years. Therefore, the surging technological developments being made in the lighting industry and declining LED costs will fuel the adoption of energy-efficient emergency lights in the foreseeable future. This market research report provides a comprehensive overview of the 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
- Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
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