Stadium Lighting Market by Light Source (LED, HID, HPS, Induction) worth 622.2 million USD by 2023
[137 Pages Report] The stadium lighting market was valued at USD 392.0 million in 2017 and is expected to reach USD 622.2 million by 2023, at a CAGR of 7.57% during the forecast period. The base year considered for the study is 2017, and the forecast period is between 2018 and 2023.
The stadium lighting market is expected to be valued at USD 432.0 million in 2018 and is likely to reach USD 622.2 million by 2023, at a CAGR of 7.57% during the forecast period. Factors such as upcoming national and international sports events, enhanced stadium experiences of fans using LEDs, and reducing costs of LEDs and lifecycle operating costs of stadiums are boosting the demand for stadium lightings.
The report covers the analysis and forecast of the stadium lighting market by light source, offering, solution set-up, installation type, and geography. The study identifies and analyzes market dynamics such as drivers, restraints, opportunities, and challenges. It also profiles the key players operating in the market.
The stadium lighting market is segmented by light source into LED and others (high-intensity discharge, high-pressure sodium, and induction lights). LEDs held a larger share of the stadium lighting market in 2017. Stadiums are replacing old lighting systems with LEDs as these help in lowering energy consumption, as well as in maintaining costs. LEDs provide better quality light compared with traditional lightings and help meet broadcast demands that include a push to high-definition TV and ultra-slow-motion technology. These also help in eliminating shadows and dark spots on playing surfaces and glares in the eyes of players.
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The stadium lighting market has been segmented by offering into lamps & luminaires, control systems, and services. The growth of the market for services is primarily driven by the increasing replacement of older lighting systems with advanced LED lighting systems and upcoming national and international sport events, such as Rugby World Cup 2019 in Japan, Super Bowl LII 2018 in the US, and Olympic Games 2020 in Japan.
Europe held the largest share, in terms of value, of the stadium lighting market in 2017. The growth of the market can be attributed to the presence of the highest number of professional football associations and clubs, such as the Premier League (UK), Bundesliga (Germany), Scottish Premier League (Scotland), and La Liga (Spain), in this region.
High costs of equipment and lack of standardization are the major factors restraining the growth of the stadium lighting market. Some of the major players operating in the stadium lighting market are Philips Lighting (Netherlands), Musco Sports Lighting (US), Eaton (Ireland), Cree (US), Zumtobel Group (Austria), Acuity Brands (US), Hubbell (US), LG Electronics (South Korea), General Electric (US), and Panasonic (Japan)). These players have adopted various strategies, such as product launches and developments, contracts, acquisitions, partnerships, and business expansions, to grow in the market.
Drivers
Upcoming national and international sports events
Rugby World Cup 2019 in Japan, Super Bowl LII 2018 in the US, and Olympic Games 2020 in Japan are undoubtedly the most eagerly awaited sporting events worldwide. These events have a wider economic impact on the stadium lighting business. The upcoming sports events at both national and international level are not only expected to drive the growth of the stadium lighting market, but are also likely to increase the footfalls of fans and revenues of stadiums. As teams are focused on enhancing the experiences of fans, they are increasingly opting for venues that offer better lighting systems
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Enhancing experiences of fans using LEDs
Many facility operators from the sports industry are gradually shifting from old fashion metal halide lighting to LED lighting. LEDs help in eliminating shadows, dark spots, and hotspots on playing surfaces, and glares in the eyes of players. In addition, high-definition broadcasters prefer LEDs as they provide flicker-free high-quality visuals important for slow-motion replays. These also greatly reduce lighting maintenance because of the products’ longevity. LED lighting ensures uniform lighting without unevenness so that athletes can concentrate on performing at their best. Event organizers can also achieve various stage effects with instantaneous lighting and dimming.
Opportunities
Adoption of IoT
The evolution of IoT has enabled the exchange of information among different electronic devices without the need for human intervention. The convergence of IoT with lighting systems is expected to improve the infrastructural capabilities of stadiums. This will allow lighting systems to be more self-governing and intelligent in terms of sharing data with building automation systems and the cloud. The cloud provides a convenient administrative user interface and opens up opportunity to use Big Data and analytics. Data analytics will allow stadium operators to deal with changing conditions, such as weather, traffic, and parking, among others, as well as to modernize building management systems, such as controlling lighting and heating. For example, IoT, through embedded sensors and data, can enable automatic light adjustment throughout stadiums based on the occupancy of seats, thus saving energy and operating costs. The adoption of IoT for lighting stadiums and arenas is still at its nascent stage, but the viability of this solution is promising.
Implementation of green initiatives
Increasing use of energy sources is resulting in the rising level of energy dissipation and carbon emissions, which demand for sustainable and efficient use of energy. Electricity generation accounts for almost one-fourth of carbon dioxide emissions. Rising concerns over global warming and ozone depletion have accelerated the efforts by the governments of developed and developing nations to control their carbon footprint. Governments worldwide are imposing stricter regulations to limit emissions. For example, in 2001, Environmental Protection Agency (EPA) launched the Green Power Partnership to increase the use of renewable electricity in the US.
Some of the major players operating in the stadium lighting market are Philips Lighting (Netherlands), Musco Sports Lighting (US), Eaton (Ireland), Cree (US), Zumtobel Group (Austria), Acuity Brands (US), Hubbell (US), LG Electronics (South Korea), General Electric (US), and Panasonic (Japan).
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