The Asia Pacific Outdoor Lighting Market would witness market growth of 9.1% CAGR during the forecast period (2022-2028).
Smart outdoor lighting is getting popular as it sees exciting applications in many outdoor lighting settings like streets, highways, public places like gardens, outdoor parking lots, commercial sites, and university and college campuses. These settings include streets, highways, public places like gardens, commercial sites, and outdoor parking lots. In addition, the price of power is continuing to climb, and as a result, an increasing number of municipalities across the globe are embracing smart lighting in order to reduce operating expenses while simultaneously improving the efficiency of their systems and ensuring the safety of their citizens.
In addition, the increased utilization of solar energy as a source of renewable energy for lighting purposes across countries will undoubtedly encourage the rise of the market for outdoor landscape lighting. Additionally, the expansion of the market is predicted to be propelled not only by the declining prices of raw materials but also by features such as simple installation, extended lifetime, minimum maintenance, and reduced operating costs.
In order to achieve their sustainability objectives, cities all over the world are implementing intelligent energy measures, which are propelling the future of street lighting. During the period covered by this projection, an increase in investment in solar street lighting and smart cities is anticipated to have a positive impact on the worldwide market for connected smart street lighting. Market participants are introducing hybrid network designs as a means of providing very adaptable solutions for street lighting.
There have been huge expenditures made in surveillance networks throughout several of China's major cities. The Chinese market has significant room for expansion because of the presence of domestic companies already established there. As a workaround, a few suppliers have begun collaborating with firms based in China. The bulk of cities has just recently started their attempts to create safer environments.
The China market dominated the Asia Pacific Outdoor Lighting Market by Country in 2021; thereby, achieving a market value of $2,011.2 Million by 2028. The Japan market is registering a CAGR of 8.5% during (2022 - 2028). Additionally, The India market would showcase a CAGR of 9.8% during (2022 - 2028).
Based on Distribution Channel, the market is segmented into Offline and Online. Based on Application, the market is segmented into Commercial and Residential. Based on Source, the market is segmented into LED Lights, High-Intensity Discharge Lamps, Fluorescent Lights, and Plasma Lamps. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Outdoor Lighting Market is Projected to reach USD 23.2 Billion by 2028, at a CAGR of 8.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include 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
By Application
By Source
By Country
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