The stadium lighting market at a CAGR of more than 8% during the forecast period
NEW YORK, July 1, 2019 /PRNewswire/ --
Global Stadium Lighting Market: About this market
Stadium lighting is the integration of artificial lighting systems in the indoor and outdoor stadium. Our stadium lighting market analysis considers the sales based on lighting sources, including high-intensity discharge (HID), and light-emitting diode (LED). Our analysis also finds the sales of the stadium lighting in North America, Europe, APAC, MEA, and South America. In 2018, the HID segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the high energy output of HID lights will play a vital role in the HID segment to maintain its market position. Also, our global stadium lighting market report looks at factors such as the increase in stadium construction globally, growth in sporting events, and demand for sustainable stadium lighting. However, the rise in environmental concerns related to stadium lights, long product replacement cycle, and interoperability issues associated with smart stadium lighting solutions may hamper the growth of the stadium lighting industry over the forecast period.
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Global stadium lighting market: Overview
Growing demand for sustainable stadium lighting
The demand for sustainable stadium lighting solutions is increasing owing to the growing environmental concerns and stringent government regulations aimed at limiting carbon dioxide emissions. This has encouraged vendors in the market to offer solar-powered stadium lights. Thus, the growing demand for sustainable stadium lighting will fuel the expansion of the stadium lighting market at a CAGR of more than 8% during the forecast period.
Emergence of smart stadium lighting control systems
Smart stadiums have gained immense popularity in recent years as they offer benefits such as Internet connectivity, efficient crowd management, and smart lighting. Thus, several vendors are offering smart stadium lighting control systems that provide customized lighting options. These systems also provide automatic control for brightening and dimming lights as per the lighting and broadcasting requirements. The emergence of smart stadium lighting control systems is expected to be a key stadium lighting market trend, which will fuel the market growth.
For the detailed list of factors that will drive the global stadium lighting market during the forecast period 2019-2023, click here.
Competitive Landscape
With the presence of a few major players, the global stadium lighting market is concentrated. Our robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading stadium lighting manufacturers, that include Cree Inc., Ephesus Lighting, Inc., Musco Sports Lighting LLC, Signify NV, and Zumtobel Group AG
Also, the stadium lighting market analysis report provides information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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