emergency lighting market
emergency lighting market
Emergency Lighting Market: Global Opportunity Analysis and Industry Forecast, 2021-2030
WILMINGTON, DELAWARE, UNITED STATES, February 16, 2024 /EINPresswire.com/ -- Emergency Lighting Market Size, Share, Competitive Landscape and Trend Analysis Report by Offering (Hardware, Software and Services), by Power System (Self-Contained Power System, Central Power System and Hybrid Power System), By Lighting Type (Fluorescent Lighting, LED, Incandescent, Others) and Application (Residential, Industrial, Commercial): Global Opportunity Analysis and Industry Forecast, 2021-2030
The emergency lighting market size was valued at $5.48 billion in 2020, and is projected to reach $10.73 billion by 2030, registering a CAGR of 6.9% from 2021 to 2030.
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The key factor that drives growth of the emergency lighting market size growing government initiatives to support the adoption of energy-efficient lighting solutions, the growing number of construction projects across the world, and rise in adoption of energy efficient lighting products are expected to drive growth of the market in the future. However, high capital investment and operational cost acts as major barrier and hampers the market growth. Furthermore, factors such as the constant developments in technologies and the growing demand for software for effectively monitoring and controlling the lights across the globe are expected to offer lucrative opportunities for the emergency lighting market growth.
By Offering the market is divided into Hardware, Software and Services. The Hardware segment was the highest revenue generating segment that accounted for $ 3911.2 million in 2020. However, the Software segment is expected to witness fastest growth at a CAGR of 9.0% during the forecast period.
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Competitive Analysis:
The emergency lighting industry key market players adopt various strategies such as product launch, product development, collaboration, partnership, and agreements to influence the market. It includes details about the key players in the market's strengths, product portfolio, market size and share analysis, operational results, and market positioning.
Some of the major key players of the emergency lighting market include,
➡️ Acuity Brands,
➡️ Syska, Daisalux,
➡️ Eaton Corporation,
➡️ Hubbel Lighting Inc,
➡️ Legrand, Osram Licht Ag,
➡️ Philips Lighitng Holding B.V,
➡️ Schneider Electric SE
➡️ Zumtobel Group
Top Impacting Factors:
The significant impacting factors in the global emergency lighting market growing government initiatives to support the adoption of energy-efficient lighting solutions, the growing number of construction projects across the world, and rise in adoption of energy efficient lighting products are expected to drive growth of the market in the future. However, high capital investment and operational cost acts as major barrier and hampers the market growth. Furthermore, factors such as the constant developments in technologies and the growing demand for software for effectively monitoring and controlling the lights across the globe are expected to offer lucrative opportunities for growth of the market. Each of these factors is anticipated to have a definite impact on the global emergency lighting market during the forecast period.
Research Methodology:
The research uses both primary and secondary research to assemble data on the various facets of the international security screening market. Using interviews or surveys, primary market research has been used to collect highly authenticated data from direct sources, such as consumers in a particular market. Secondary market research is a method for gathering information from previously released data that has been produced by international organizations, business groups, government and research institutions, and so on.
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Key Benefits for Stakeholders:
➡️ This study comprises analytical depiction of the emergency lighting market size, emergency lighting market growth along with the current trends and future estimations to depict imminent investment pockets.
➡️ The overall emergency lighting market analysis and emergency lighting market outlook is determined to understand the profitable trends to gain a stronger foothold.
➡️ The report presents information related to key drivers, restraints, and emergency lighting market opportunities with a detailed impact analysis.
➡️ The present emergency lighting market forecast is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency.
➡️ Porter’s five forces analysis illustrates the potency of the buyers and the sensor market share of key vendors.
➡️ The report includes the market trends, emergency lighting market size and the emergency lighting market share of key vendors.
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