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Stadium lighting market for LEDs to grow at high at a CAGR of 7.57%


According to the new market research report on the "Stadium Lighting Market by
 Light Source (LED, HID, HPS, Induction), Offering (Lamps & 
Luminaires, Control Systems, Services), Solution Set-Up (Indoor, 
Outdoor), Installation Type (New, Retrofit), and Geography - Global 
Forecast to 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% between 2018 and 2023. 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.

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Stadium lighting market for LEDs to grow at high CAGR during forecast period

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 
players’ eyes.

Stadium lighting market for outdoor set-ups to grow at high CAGR during forecast period

High-quality lights are required in outdoor set-ups 
for uniformity, visual comfort, and limiting obtrusive light. These 
lights are also required for games in which players are expected to 
react quickly to small but fast-moving balls. Lighting systems installed
 in outdoor set-ups are required to withstand a variety of weather 
conditions, including winds, rains, and thunder storms. These systems 
should be bright enough to avoid injury-causing shadows or glares on 
athletic fields.

Stadium lighting market in RoW to grow at high CAGR during forecast period

The stadium lighting market in RoW is expected to 
grow at the highest CAGR during the forecast period. In the Middle East,
 Qatar is likely to offer growth opportunities for stadium lighting 
solution providers, as the country will host the FIFA World Cup in 2022.
 Furthermore, Saudi Arabia, Bahrain, and the UAE are also showing 
interest in hosting major sports events. These events are expected to 
attract technology providers for the deployment of advanced stadium 
lighting solutions in the Middle East region. Dubai has developed 
high-quality sports venues that are capable of hosting a wide range of 
sport activities. Dubai Sports City's cricket stadium has been recently 
installed with 365 floodlights, which are likely to create ideal playing
 conditions. Sporting events such as 2019 Copa América (Brazil) and 2018
 Summer Youth Olympics (Argentina) are expected to contribute to the 
growth of the stadium lighting market in South America.

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).

Read More @   
https://www.marketsandmarkets.com/PressReleases/stadium-lighting.asp

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