Outdoor LED Lighting Market Size, Share, Growth Analysis, By Type(LED Street Lights, LED Floodlights, LED Landscape Lights, LED Bollards and Pathway Lights and driveways), By Application(Municipal Lighting, Commercial Lighting, Industrial Lighting, Sports and Stadium Lighting), By Region - Industry Forecast 2024-2031

Report ID: SQMIG20E2042 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 68 | Figures: 75

Outdoor LED Lighting Market Dynamics

Outdoor LED Lighting Market Drivers

Environmental Benefits

LED lighting has a lower carbon footprint as it emits less greenhouse gasses during operation. The reduced energy consumption also helps in conserving natural resources and mitigating environmental impact, aligning with global efforts towards sustainability and eco-friendly practices.

Outdoor LED Lighting Market Restraints

Quality Concerns

In some cases, the market has witnessed the entry of substandard LED products that fail to meet quality and performance standards. This has raised concerns among potential buyers about the reliability and durability of LED lighting, impacting market growth.

Outdoor LED Lighting Market Report Snapshots

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Outdoor LED Lighting Market size was valued at USD 19.9 billion in 2021 and is poised to grow from USD 21.9 billion in 2022 to USD 48.8 billion by 2030, growing at a CAGR of 10.5% in the forecast period (2023-2030).

The outdoor LED lighting market is highly competitive, with numerous players vying for market share. These companies are engaged in the design, manufacturing, and distribution of outdoor LED lighting products that cater to various applications, including street lighting, architectural lighting, landscape lighting, and industrial lighting, among others. 'Philips Lighting (Netherlands)', 'Osram (Germany)', 'Cree, Inc. (US)', 'Acuity Brands, Inc. (US)', 'Eaton Corporation (Ireland)', 'Hubbell Incorporated (US)', 'Zumtobel Group (Austria)', 'Schneider Electric (France)', 'GE Lighting (US)', 'Thorn Lighting (UK)', 'Panasonic Corporation (Japan)', 'Signify (Netherlands)', 'Siteco Beleuchtungstechnik GmbH (Germany)', 'LSI Industries Inc. (US)', 'FSL Lighting (China)', 'Toshiba Corporation (Japan)', 'Wipro Lighting (India)', 'Havells India Limited (India)', 'Syska LED (India)', 'Bajaj Electricals Limited (India)'

LED lighting has a lower carbon footprint as it emits less greenhouse gasses during operation. The reduced energy consumption also helps in conserving natural resources and mitigating environmental impact, aligning with efforts towards sustainability and eco-friendly practices.

Rapid Adoption of Smart and Connected Lighting Solutions: As advancements in Internet of Things (IoT) technology continue to revolutionize the lighting industry, outdoor LED lighting is witnessing a transformation from traditional lighting fixtures to intelligent and interconnected systems. Smart outdoor LED lighting solutions offer numerous benefits, including energy efficiency, remote monitoring and control, enhanced automation, and data-driven insights. These systems can be integrated into smart city initiatives, enabling cities to optimize energy consumption, improve public safety, and reduce operational costs. With the ability to adjust brightness levels based on real-time data and user preferences, smart outdoor LED lighting ensures optimal lighting conditions while minimizing energy wastage.

Among the various regions contributing to the outdoor LED lighting market, the most dominant region is Asia-Pacific. The Asia-Pacific region, encompassing countries such as China, India, Japan, South Korea, and others, has witnessed remarkable growth in the adoption of outdoor LED lighting solutions. The rapid urbanization, increasing infrastructural development, and government initiatives promoting energy-efficient lighting have been key factors driving the dominance of the Asia-Pacific region in the market.

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Outdoor LED Lighting Market Dynamics

Outdoor LED Lighting Market Report Snapshots

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