The global outdoor LED lighting market is estimated to be USD 25.7 billion in 2022. It is projected to reach USD 51.5 billion by 2027, at a CAGR of 14.9% during the forecast period.
The outdoor LED lighting market is highly fragmented, with the presence of giant companies and small and startup companies. Major players operating in the outdoor LED lighting market have witnessed consistent revenue growth from 2018 to 2021. The companies achieved their positions by launching new and innovative products. Various companies are deploying different strategies to excel in the outdoor LED lighting market. They are trying to broaden their revenue stream by adopting inorganic business strategies such as acquisitions, collaborations, contracts, and agreements, which have helped companies enhance their products and expand their geographic reach
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Signify N.V. (Netherlands) operates its lighting business in more than 74 countries and has manufacturing facilities in Europe, South America, and Asia Pacific. It has 95 production facilities and 60 R&D centers across operating regions in different parts of the world. The company focuses on product launches and innovations to expand its product portfolio and gain access to new technologies and markets. It focuses on research and development for products and services through its development laboratories and testing facilities. The company acquired several companies to strengthen its position and diversify its portfolio of LED lighting solutions. For instance, Signify N.V. acquired Fluence (US) in May 2022 and Telensa Holdings Ltd. (UK) in July 2021.
Acuity Brands Lighting, Inc. (US) is one of the top players in the outdoor LED lighting market. The company sells and manufactures a diversified portfolio of lighting products through various brands. Over the years, it has emphasized building a reliable distribution network in different parts of the world, which can further strengthen its distribution and sales network worldwide. The company is focused on adopting organic and inorganic growth strategies to lead the global outdoor LED lighting market. In June 2021, Acuity Brands (Luminis) released its Scena family of exterior luminaires designed to withstand the rigors of urban exteriors and public spaces. In April 2021, Acuity Brands announced the acquisition of ams OSRAM’s North American Digital Systems (DS) Business to bring a strategic fit and perspective to its North American customers and associates and a growth strategy for the business.
Cree Lighting (US) is a market leader and innovator in the indoor, outdoor, and consumer bulb LED lighting segment. The company operates in North America, Europe, and Asia Pacific, with a major presence in Europe, Canada, and US. It is one of the well-recognized brands in the outdoor LED lighting market. The company has a strong distribution network all over the world. It is focused on combining best-of-breed technology leadership in semiconductor, LED, and optical solutions, with unmatched scale, on a common sales and administrative platform to deliver a comprehensive suite of infrastructure technology products to the leading business and government customers worldwide. Thus, the company is focused on acquiring lighting segment-leading businesses and technologies, as well as investing extensively in research and development. This strategy results in a robust business model that drives diversified and sustainable operating and financial results.
Dialight (UK) has been operational in the outdoor LED lighting business for a long time and is a recognized brand worldwide. It has a major presence worldwide with a strong sales and distribution network. It focuses on collaborations to maintain its position in the market. It has a balance revenue mix in all geographies and does not rely on one client or region for revenue generation. The company has been continuously expanding its presence in a different geography with a diversified product portfolio for various application areas. In November 2021, Dialight announced the availability of its newest, lightest, low-profile Vigilant LED High Output High Bay. In September 2020, the company launched Vigilant Bulkhead, a new addition to the already successful bulkhead line for the markets in Asia Pacific and Europe, Middle East and Africa (EMEA).
Outdoor LED Lighting Market by Installation (New, Retrofit), Offering, Sales Channel, Communication, Wattage (Below 50W, 50-150W, Above 150W), Application (Streets and Roads, Architecture, Sports, Tunnels) and Geography - Global Forecast to 2027
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