LED Emergency Lighting Market Size To Be Worth USD 4.23 Billion by 2027 | Emergen Research - GlobeNewswire

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Vancouver, British Columbia, Dec. 15, 2020 (GLOBE NEWSWIRE) -- The Global LED Emergency Lighting Market is forecast to be worth USD 4.23 Billion by 2027, according to the current analysis by Emergen Research. Due to increasing technological developments in lighting solutions, the LED emergency lighting market is anticipated to grow significantly. Besides, the growing number of construction projects will further fuel the market growth during the forecast timeline. The rising implementation of smart cities and smart grids is expected to augment market growth shortly. Governments in different nations plan to develop world-class infrastructure to bring investors in their regions. Several nations also declared the construction of several smart cities and several smart projects in this context. Such programs must provide emergency lighting solutions. 

However, issues concerning the design that would hinder the visual appeal of buildings are anticipated to impede the market growth during the forecast period.

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Key Highlights From The Report

• In October 2020, Osram Licht AG introduced the first LED retrofit headlight. Osram is the first company to sell certified LED-based automotive retrofit lamps in the German market. Since there were no LED alternative lamps for headlight applications until then, this innovation was a novel product in the space. With the LED lamps, drivers can legally, conveniently update their halogen lighting to include state-of-the-art products.
• The Chips in the Board segment is expected to maintain steady growth in the projected timeframe due to a greater focus on light and enhanced lumen density.
• With the increasing concerns over renewable energy and the growing acceptance of solar energy solutions, the solar segment is expected to witness substantial growth over the forecast period.
• The residential segment is forecast to expand substantially over the projected period. Development of residential buildings is attributed to the substantial and sustained economic growth of emerging economies, with growing populations and rapid urbanization. There is a need for emergency lighting has been raised in the residential segment.
• Over the forecast period, the Asia Pacific is expected to be the fastest-growing region in the LED emergency lighting market. This is attributed to the growing demand for smart homes in the region and growing government efforts to develop smart cities. In order to switch from traditional development to smart homes, authorities and households are influenced by rising energy costs and consumer awareness about carbon pollution.
• Key participants include ams AG, NVC Lighting Ltd., Acuity Brands, Inc., IOTA Engineering, L.L.C., Koninklijke Philips N.V., Osram Licht AG, Legrand S.A., Digital Lumens, Inc., Hubbell Incorporated, and Fulham Co., Inc., among others.

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Emergen Research has segmented the Global LED Emergency Lighting Market on the basis of technology, power source, end-use, and region:

• Technology Outlook (Revenue, USD Billion; 2017-2027)
  • Surface Mount
  • Chips on Board
• Power Source Outlook (Revenue, USD Billion; 2017-2027)
  • Rechargeable
  • Solar
  • Battery
• End-Use Outlook (Revenue, USD Billion; 2017-2027)
  • Cinema
  • Commercial
  • School
  • Residential
  • Others

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• Regional Outlook (Revenue, USD Billion; 2017-2027)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. U.K.
    3. France
    4. BENELUX
    5. Rest of Europe
  • Asia Pacific
    1. China
    2. Japan
    3. South Korea
    4. India
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. U.A.E.
    3. Rest of MEA

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About Emergen Research

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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