The various applications of outdoor lighting include tunnel lights, parking lots, street lighting, highways, and stadiums. Some other applications are business parks, gardens, agriculture, and parks.
The emergence of smart outdoor lighting and rising adoption of solar power for outdoor lighting are among the key trends being observed in the outdoor lighting market.
The global outdoor lighting market was valued at $8,740.0 million in 2017 and is forecasted to witness a CAGR of 8.0% during 2018–2023. Growing adoption of energy-saving and economical lighting solutions and increasing government initiatives toward energy conservation are the major factors contributing to the growth of the market.
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