DUBLIN--(BUSINESS WIRE)--The "Global Outdoor LED Lighting Market (2021-2026) by Offering Type, Installation Type, Wattage Type, End-Use Type, Geography, Competitive Analysis and the Impact of Covid-19 with Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.
The Global Outdoor LED Lighting Market is estimated to be USD 21.76 Bn in 2021 and is expected to reach USD 43.96 Bn by 2026, growing at a CAGR of 15.1%.
The Global Outdoor LED Lighting Market Growing demand for outdoor LED lighting is associated with developing and modernizing infrastructures such as smart cities and economic corridors, reducing LED prices. Increasing demand for smart control in street lighting systems drives the market's growth.
Additionally, the growing need to improve driver and pedestrian safety and visibility in roadways, highways, architecture, public places, and others is fuelling the market's growth. On the other hand, lack of awareness for innovative lighting installation cost and payback and developing laser light technology as a substitute solution restrict the market's growth.
Furthermore, developing wireless and Internet of Things (IoT) technologies in smart street lighting in smart city projects and increasing energy efficiency adoption in emerging economies will create potential opportunities for the market to grow in the forecasted period.
Moreover, the lack of appropriate standards for consumer ownership in utility-owned street lighting and the rising cost for product testing is a challenge that may negatively hamper the market's growth.
1. Dialight plc launched ProSite LED Floodlight available for non-hazardous as well as hazardous locations models by offering maximum protection against dust, water, vibration, and debris-August 16, 2021
2. ams OSRAM partnership with ViewSonic Corp for latest LS600W WXGA LED Projector, a brightness WXGA Lamp-Free Projector for business and education-July 19, 2021
3. Signify Holding B.V. partnership with National Hockey League for the transition of sustainable LED and connected lighting by improving energy efficient-March 24, 2021
The report includes a Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.
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