Global Outdoor LED Lighting Market

Outdoor LED Lighting Market Size, Share, Growth Analysis, By Type(LED Street Lights, LED Floodlights), By Application(Municipal Lighting, Commercial Lighting) - Industry Forecast 2024-2031

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

Outdoor LED Lighting Market News

  • In May 2023, Signify announced that it had completed the acquisition of Fluence. Fluence is a leading provider of LED lighting solutions for the agricultural sector. This acquisition will allow Signify to expand its presence in the agricultural lighting market and offer a more comprehensive portfolio of solutions to growers.
  • In April 2023, Acuity Brands announced that it had launched a new line of outdoor LED lighting products. The new products are designed to be more energy-efficient and sustainable than traditional outdoor lighting products. They also offer a wider range of features and benefits, such as dimming and color-changing capabilities.
  • In March 2023, Osram announced that it had launched a new line of high-power LED modules for outdoor lighting. The new modules are designed to deliver high levels of light output and efficiency. They are also designed to be more durable and weather-resistant than traditional LED modules.
  • In February 2023, Philips Lighting announced that it had launched a new line of smart outdoor LED lighting products. The new products are designed to be connected to the internet and controlled using a smartphone or tablet. This allows users to remotely control the lighting, such as turning it on and off or changing the color.
  • In January 2023, Cree announced that it had launched a new line of outdoor LED lighting products that are designed to be more energy-efficient and sustainable. The new products use Cree's latest LED technology and are designed to meet the latest energy efficiency standards.
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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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Global Outdoor LED Lighting Market

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