Street Lighting Segmnet is Expected to Dominate the Global Residential Infrastructure Lighting Market
Rapid infrastructure development, and ongoing and
upcoming smart city projects in developing countries are expected to drive
market revenue growth.
According to TechSci
Research report, “Global Residential Infrastructure Lighting Market - Industry
Size, Share, Trends, Competition Forecast & Opportunities, 2028”. The Global Residential
Infrastructure Lighting is anticipated to project robust growth in the forecast
period with a CAGR of 7.53% through 2028. The Residential Infrastructure
Lighting market is expected to continue to grow in the coming years, driven by
the factors mentioned above. Additionally, the growing demand for smart
lighting solutions and sustainable Residential Infrastructure Lighting
solutions is expected to boost the growth of the market. Smart lighting
solutions can help to reduce energy consumption, improve efficiency, and
enhance safety. Sustainable Residential Infrastructure Lighting solutions, such
as solar-powered lighting systems, can help to reduce the environmental impact
of Residential Infrastructure Lighting.
The dominant segment in the
Global Residential Infrastructure Lighting Market in 2022 was the roadway
lighting segment. This segment accounted for over 50% of the global market
share in 2022. This is due to the large number of roads and highways that need
to be lit for safety and security purposes. Roadway lighting is used to
illuminate roads, highways, and other public spaces. It is essential for
ensuring the safety of drivers, pedestrians, and cyclists at night. Roadway
lighting also helps to reduce crime and improve the quality of life in communities.
The roadway lighting segment is expected to continue to dominate the global Residential
Infrastructure Lighting market in the coming years. This is due to the growing
demand for infrastructure development, the increasing urbanization of the
world, and the rising safety concerns. Other significant segments in the global
Residential Infrastructure Lighting market include bridge lighting, tunnel
lighting, airport lighting, port lighting, railway lighting, industrial
lighting, and commercial lighting. The world is becoming increasingly
urbanized, and this is leading to a growing demand for infrastructure
development, including roads, bridges, tunnels, airports, ports, and railways.
This is driving the demand for Residential Infrastructure Lighting solutions. Governments
and businesses around the world are increasingly focused on energy efficiency
and sustainability. This is due to a number of factors, such as rising energy
costs, concerns about climate change, and government incentives. The focus on
energy efficiency and sustainability is driving the demand for energy-efficient
and sustainable Residential Infrastructure Lighting solutions, such as LED
lights and smart lighting controls.
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Residential Infrastructure Lighting Market"
Governments and businesses
are increasingly focused on safety and security. This is due to a number of
factors, such as the increasing threat of terrorism and crime. Residential
Infrastructure Lighting can help to improve safety and security by increasing
visibility and deterring crime. Lighting technology is constantly advancing,
and this is leading to the development of more efficient, reliable, and durable
Residential Infrastructure Lighting solutions. For example, LED lights are now
more efficient and affordable than ever before. The roadway lighting segment is
the largest segment in the Residential Infrastructure Lighting market,
accounting for over 50% of the market share in 2022. This is due to the large
number of roads and highways that need to be lit for safety and security
purposes. Other significant segments in the Residential Infrastructure Lighting
market include bridge lighting, tunnel lighting, airport lighting, port
lighting, railway lighting, industrial lighting, and commercial lighting. The
Asia Pacific region is the largest market for Residential Infrastructure
Lighting, accounting for over 40% of the global market share in 2022. This is
due to the rapid urbanization and infrastructure development in the region. North
America and Europe are also major markets for Residential Infrastructure
Lighting. However, the growth in these markets is expected to be slower than in
the Asia Pacific region.
Key market players in the Global
Residential Infrastructure Lighting Market are following:-
- Cree Inc
- Hubbell Lighting
- Zumtobel Group AG
- Philips Lighting
- Acuity Brands Inc.
- Dialight plc
- Eaton Corporation
- Osram GmbH
- GE Lighting
- SAMSUNG
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“LED lighting is becoming
increasingly popular in infrastructure applications due to its energy
efficiency, long lifespan, and low maintenance requirements. Smart lighting
solutions are becoming increasingly popular in infrastructure applications due
to their ability to improve efficiency, reduce costs, and enhance safety. For
example, smart lighting solutions can be used to dim or turn off lights when
they are not needed, which can save energy and reduce costs. Governments and
businesses are increasingly looking for sustainable Residential Infrastructure
Lighting solutions that can reduce their environmental impact. For example,
solar-powered lighting systems can help to reduce the reliance on fossil fuels.
The global Residential
Infrastructure Lighting market is a growing and dynamic market with a bright
future. The factors driving the growth of the market include the increasing
urbanization and infrastructure development, the growing demand for
energy-efficient and sustainable lighting solutions, the rising safety and
security concerns, and the technological advancements in lighting technology.
The key trends in the market include the growing adoption of LED lighting, the
increasing use of smart lighting solutions, and the growing demand for
sustainable Residential Infrastructure Lighting solutions.” said Mr. Karan
Chechi, Research Director with TechSci Research, a research-based global management
consulting firm.
Residential
Infrastructure Lighting Market – Global Industry Size, Share, Trends,
Opportunity, and Forecast Segmented By Technology (LED, Fluorescent,
Incandescent), By Product (Recessed Lighting, Street Lighting, Spot Lighting,
Flood Lighting), By Region, Competition 2018-2028 has evaluated the future
growth potential of Global Residential Infrastructure Lighting Market and
provides statistics and information on market structure, size, share, and
future growth. The report is intended to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities present in the Global Residential
Infrastructure Lighting Market.
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