The global outdoor lighting market generated a revenue of $10.7 billion in 2019, as per the findings of P&S Intelligence, a market research firm based in India. By 2030, the market is predicted to reach a valuation of $23.8 billion, while exhibiting a CAGR of 7.3% between 2020 and 2030. The increasing usage of energy-efficient lighting solutions, the soaring enactment of government initiatives regarding energy efficiency, and the surging infrastructural development are the main growth drivers of the market.

In recent years, solar-powered lighting has rapidly emerged as a reliable and popular source of street lighting. These lighting solutions are being heavily used across the globe. The implementation of strict government regulations for promoting sustainable construction and infrastructure development, the rising consumer awareness about climate change, and the increasing investments being made by various private and public companies in the electrification of several off-grid areas are the main factors boosting the popularity of solar-lighting systems.

The low maintenance and operational costs of solar street lights and their independence from utility grids are making these lights highly sought after for electricity transmission, unlike the traditional lighting devices, particularly in the rural areas. Apart from these factors, the increasing implementation of various initiatives by the governments of many countries, on account of the rising concerns being raised over energy conservation, is also fueling the progress of the outdoor lighting market across the world.

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This market research report provides a comprehensive overview of the outdoor lighting market

Historical and the present size of the outdoor lighting market
Future potential of the market through its forecast for the period 2020– 2030
Major factors driving the market and their impact during the short, medium, and long terms
Market restraints and their impact during the short, medium, and long terms
Recent trends and evolving opportunities for the market participants
Historical and the present size of the market segments and understand their comparative future potential