Published Date: 21-Feb-2023
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According to a new report, published by KBV research, The Global Outdoor Lighting Market size is expected to reach $23.2 billion by 2028, rising at a market growth of 8.4% CAGR during the forecast period.
The Online market is exhibiting a CAGR of 10.1% during (2022 - 2028). The expansion of the online distribution market is driven primarily by one factor: the continuing rise in acceptance of online shopping. The market sector of online distribution has given manufacturers the opportunity to attract new consumers, enhance their communication, manage their finances, and increase brand recognition in a cost-effective and efficient way.
The Commercial market is leading the segment in the Global Outdoor Lighting Market by Application in 2021; thereby, achieving a market value of $15.0 Billion by 2028. Demand for outdoor landscape and street lighting is also being driven by the fast growth in commercial development activity, particularly in the hotel industry. The expansion of the market will be promoted in the future by the flourishing real estate business, and various infrastructure upgrades will follow in the hotel sector.
The Fluorescent Lights market is showcasing a CAGR of 8% during (2022 - 2028). Conventional lighting is more costly than fluorescent lighting, despite producing the same amount of brightness. In addition to this, the lifetime of fluorescent lights is often six times greater than that of a regular incandescent bulb.
The North America market dominated the Global Outdoor Lighting Market by Region in 2021; thereby, achieving a market value of $8.0 Billion by 2028. The Europe market is poised to grow at a CAGR of 7.9% during (2022 - 2028). Additionally, The Asia Pacific market would witness a CAGR of 9.1% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/outdoor-lighting-market/
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 General Electric Company, Acuity Brands Lighting, Inc., Signify N.V., Zumtobel Group AG, Cree, Inc. (SMART Global Holdings, Inc.), OSRAM GmbH (AMS AG), Eaton Corporation PLC, Hubbell Incorporated, Virtual Extension Ltd. and Syska LED Lights Private Limited
By Distribution Channel
Unique Offerings from KBV Research
North America Outdoor Lighting Market Future Scope & Opportunities 2022-2028
Europe Outdoor Lighting Market Size & Growth Forecast 2022-2028
Asia Pacific Outdoor Lighting Market Size, Share & Industry Outlook to 2028
LAMEA Outdoor Lighting Market Growth, Trends & Forecasts 2022-2028