Published Date: 31-Mar-2022
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According to a new report, published by KBV research, The Global Emergency Lighting Market size is expected to reach $7.9 billion by 2027, rising at a market growth of 6.3% CAGR during the forecast period.
The Software segment is showcasing a CAGR of 6.7% during (2021 - 2027). The growth of this segment can be ascribed to the rising demand for software that can efficiently monitor and regulate lighting systems. Additionally, the growing number of technological developments in the software of emergency lighting software that are being introduced by various market players of the sector is also a major reason that is propelling the growth of this segment.
The Self-Contained Power System segment is leading the Global Emergency Lighting Market by Power System 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $3.2 billion by 2027. The rising growth of this segment is attributed to the fact that these variants require lesser installation time and cost for small and medium businesses. This system also provides emergency illumination from a dispersed source and does not require a central battery system, making it simpler to install.
The Fluorescent Lighting market has high growth rate of 6.6% during (2021 - 2027). Fluorescent light is a mercury-vapor low-pressure gas-discharge lamp that generates visible light by fluorescence. An electric charge in the gas stimulates mercury vapor, which emits short-wave ultraviolet light, which causes the lamp's phosphor coating to glow. The growth of this segment is attributed to the high Illuminance that is delivered by fluorescent lights.
The Industrial segment acquired maximum revenue share in the Global Emergency Lighting Market by Application 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $2.9 billion by 2027, growing at a CAGR of 5.6 % during the forecast period. Factories, warehouses, and other spacious properties that require increased voltage or wattages for effective illumination are majorly utilizing industrial emergency lights. Moreover, safety is a top priority in industrial environments, and correct adequate illumination and lighting are crucial for maintaining high output. As a result, emergency lighting is prevailing in a variety of businesses to assist personnel in dealing with emergency circumstances and securely exiting the premises.
The North America is fastest growing region in the Global Emergency Lighting Market by Region 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $2.7 billion by 2027. The Europe market is experiencing a CAGR of 5.9% during (2021 - 2027). Additionally, The Asia Pacific market would exhibit a CAGR of 6.5% during (2021 - 2027).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Zumtobel Group AG, Acuity Brands Lighting, Inc., Emerson Electric Co., Legrand S.A., Signify N.V. (Cooper Lighting, LLC), Koninklijke Philips N.V., AMS AG (OSRAM Licth AG), Schneider Electric SE, Beghelli S.p.A., and Daisalux, S.A.
By Power System
By Lighting Type
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