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Outdoor LED Lighting Market by Installation Type, End Use Application, Offering, Wattage Type, Region - Global Forecast to 2023


outdoor led lighting market

The Outdoor LED Lighting Market is projected to reach USD 21.95 Billion by 2023, at a CAGR of 13.7% between 2017 and 2023. The growth of the market can be attributed to the increasing need for energy-efficient lighting systems across the globe, reduction in the prices of LEDs, and increasing penetration of LED lights as a light source in the outdoor applications, such as architectural, highways & roadways, and public places, among others.
In 2016, the highways & roadways end-use application segment led the outdoor LED lighting market. However, the public places segment of the market is projected to grow at the highest CAGR during the forecast period, 2017 to 2023. The growth of the public places segment of the market can be attributed to the increasing infrastructural activities across the globe.
The between 50W and 150W wattage type segment is projected to lead the outdoor LED lighting market during the forecast period, 2017 to 2023.
The between 50W to 150W wattage type segment is projected to lead the outdoor LED lighting market during the forecast period. The growth of this segment of the market can be attributed to increased adoption of outdoor LED lighting across the globe due to its energy efficiency and low maintenance costs. LED lights and luminaires with a wattage range between 50W and 150W are widely used across highways & roadways.

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This report provides valuable insights regarding ecosystem of the outdoor LED lighting market, which includes research & product development, manufacturing & assembling, system integrators, and end users. The key players operating in the market are Philips Lighting Holding B.V. (Netherlands), General Electric Company (U.S.), OSRAM Licht AG (Germany), Hubbell Incorporated (U.S.), Cree, Inc. (U.S.), Eaton Corporation Plc. (U.S.), SYSKA LED (India), Virtual Extension (Israel), Dialight plc (U.K.), and Zumtobel Group AG (Austria), among others.
Lack of awareness among masses regarding the installation costs of outdoor LED lights and payback period, and development of alternate technologies such as laser technology are the major restraints for the growth of the outdoor LED lighting market. The major players operating in the market are Phillips Lighting Holding B.V. (Netherlands), General Electric Company (U.S.), OSRAM Licht AG (Germany), Cree, Inc. (U.S.), and Hubbell Incorporated (U.S.), among others. These key players have adopted various strategies, such as new product launches partnerships, collaborations, and expansions to enhance their revenues in the market.
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