The new report by Expert Market Research titled, ‘Global Stadium Lighting Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the global stadium lighting market, assessing the market based on its segments like lighting source and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 7.51%
The demand for stadium lighting is being boosted by factors such as future domestic and international athletic events, improved stadium experiences for fans utilising LEDs, and cost reductions of LEDs and stadium lifecycle running expenses.
Stadium Lighting Industry Definition and Major Segments
A stadium light is a broad-based, high-intensity artificial light source. They’re frequently utilised to light up outdoor playgrounds and indoor sporting events in low-light conditions. LED lighting is also commonly utilised as a stage lighting instrument in live performances such as concerts and plays.
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The stadium lighting market can be divided based on lighting source into:
The global regions for the stadium lighting market include:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Stadium Lighting Market Trends
Growing environmental concerns and tight government regulations aimed at lowering carbon dioxide emissions have increased the demand for sustainable stadium lighting options. The need for sustainable stadium lighting is expected to grow as a result of initiatives like the Environmental Protection Agency’s Green Power Partnership (EPA). Several vendors offer smart lighting management systems for stadiums that give unique lighting options as well as automatic brightening and dimming light control based on lighting and broadcasting requirements. The emergence of smart lighting control technologies for stadium lighting has been identified as a major market trend for stadium lighting that will positively impact market growth.
Key Market Players
The major players in the market are Musco Sports Lighting LLC, Signify NV, Zumtobel Group AG, Ephesus Lighting, Inc., Cree Inc. (NASDAQ: CREE), and Others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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