Stadium Lighting Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2029
Stadium Lighting Market: Overview
Over the past several years, the incorporation of artificial lighting has been an integral part of sports and the associated entertainment. Big advancements have been made in the lighting technology, which is evident in the commercialization of LED lights. These advancements relate to lumen intensity, ease of deployment with the stadium infrastructure, and lower installation costs. Players, fans, and administration have been key aspect in the adoption of stadium lighting market. Entertainment industry has benefitted from bright and reliable lighting free from flickers. Facility managers conducting massive football and cricket events have been increasingly demand cost-effective lighting solutions in the stadium lighting market.
Key offerings of companies in the stadium lighting market are lamps and luminaires, control systems, services, and LED. They offer technologies that enable players to save maintenance costs.
Stadium Lighting Market: Competitive Analysis and Key Developments
The report offers a critical assessment of potential opportunities in various product categories, market shares of various key players, and impact of recent technological advancements in the stadium lighting market. It also focuses on the regulatory standards and changing preferences of watchers. The study also assesses revenue potential in the retrofit segment.
Top players in the stadium lighting market are striving to offer more programmable features to attract stadium owners and facility managers. Most manufacturers and service providers in the market promise prolonged lifetime of the installation to enable owners high cost savings.
Some the key lighting manufacturers serving the needs of consumers in the stadium lighting market are Panasonic, General Electric, LG Electronics, Hubbell, Acuity Brands, Zumtobel Group, Cree, Eaton Corporation, and Philips Lighting.
Stadium Lighting Market: Key Trends
Substantial demand for stadium lighting in several national and international sports events is one of the key trend bolstering revenue generation in the stadium lighting market. Facility managers have been advancing the lighting systems to augment experiences of fans, particularly by making mass-scale adoption of LEDs. LED manufacturers developing products in the stadium lighting market have witnessed new revenue streams in developing economies. Over the years, the gradual reduction of costs of LED technology has immensely benefitted end users.
Constant need for lowering lifecycle operating costs of stadiums in the stadium lighting market. However, the high cost of equipment and lack of standardization are crucial prospects that have dampened the prospects in some cost-sensitive markets. Nevertheless, adoption of green initiatives has spurred the prospects of energy-efficient lighting system. Moreover, in-house entertainment systems have seen high cost in the expansion of the market. Rise in competition level in in-house entertainment systems has expanded the avenues in the stadium lighting market.
Stadium Lighting Market: Regional Analysis
The study offers an assessment of share of various key regions in the stadium lighting market and potential revenue potential during the forecast period. North America and Asia Pacific are lucrative markets. Asian countries have seen substantial revenue generation on the back of demand for replacement of older stadium lighting systems. North America and a number of developed economies create huge demand for connected and smart lighting systems in the stadium lighting market. Growing number of contract acquisition and partnerships among lighting manufacturers has fueled the North America market.
Also, the trend of smart lighting in upcoming events in these key regions has resulted in them acquiring high shares in the global stadium lighting market. The focus on lifecycle operating costs of stadiums has cemented the potential of the emerging markets.
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