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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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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