Outdoor LED Lighting Market Analysis, Trends and 2023 Forecasts for Manufacturers

The Outdoor LED Lighting Market is projected to grow at a significant rate during the forecast period, 2017 to 2023 due to the emphasis of governments on the safety of drivers by ensuring clear visibility. Outdoor LED lighting is used for busy highways & roadways, wherein visibility is of crucial importance. It is increasingly implemented across highways, streets, and roadways to control energy consumption. Development of wireless technologies for outdoor LED lighting systems, growing usage of the systems/solutions that use LED lighting, and increasing consumer awareness about the importance of energy saving are the major opportunities for the growth of the outdoor LED lighting market.

The main building blocks of the value chain of the outdoor LED lighting market comprise research & product development, manufacturing & assembling, system integrators, and end users. In 2016, the highways & roadways end-use application segment accounted for the largest share of the outdoor LED lighting market. The key players operating in the outdoor LED lighting market include Philips Lighting Holding B.V. (Netherlands), General Electric Company (U.S.), OSRAM Licht AG (Germany), Hubbell Incorporated (U.S.), Cree, Inc. (U.S.), Eaton Corporation Plc. (U.S.), SYSKA LED (India), Virtual Extension (Israel), Dialight plc (U.K.), and Zumtobel Group AG (Austria), among others. These players have adopted various growth strategies, such as new product launches, partnerships, contracts, collaborations, acquisitions, and expansions to expand their global presence and increase their shares in the outdoor LED lighting market.

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Philips Lighting Holding B.V. (Netherlands) is one of the global leaders in lighting products, systems, and services. The company was established in 1891 and is headquartered in Eindhoven (Netherlands). It caters to the professional and consumer markets through its energy-efficient LED lighting. Philips Lighting is listed on Euronext Amsterdam under the ticker symbol, LIGHT. The company is enhancing its lighting business segment through partnerships and new product/software launches. For instance, in December 2015, Philips and the City of San Jose partnered to carry out SmartPoles project. In March 2016, the company launched the Philips DigiStreet range of road and street lighting luminaires, designed to bring energy-efficient LED lighting to the cities.

General Electric Company (U.S.) is another key player in the outdoor LED lighting market. It is working with several other companies and government agencies across the U.S. to implement outdoor LED technologies in parking lots, garages, and streets to improve lighting during the night. The company has undertaken various projects to illuminate parking spaces with LED street lights across several cities in the U.S. It is also testing its intelligent cities platform, which can improve city traffic through efficient street lighting and signaling with less energy consumption. GE is also collaborating with retail outlets to enhance the shopping experience of customers through the efficient use of LED lighting.

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OSRAM Licht AG (Germany) focuses on the automotive lighting, smart lighting, and LED components. The company is targeting high profit business-to-business (B2B) and semiconductor markets by adopting the strategy of reorganizing its business segments and eliminating its underperforming businesses. It is expanding its LED chip-based investments and facilities in Germany and Malaysia. R&D activities and innovations are its prime strengths, and the company is expected to rely on them for future expansions. It has launched several new products for automotive lighting, smart lighting, and other lighting applications.