![]() ![]() The continuous decrease in the average selling price (ASP) of LED is expected to positively affect its penetration and market size considerably in both the residential and commercial sectors during the forecast period. This is increasing the adoption of LED lighting worldwide. ![]() They are increasingly deployed in retail, hospitality, and architecture, as well as other commercial and residential applications. The growing demand for LED lighting for different applications is notably driving market growth. The commercial viability of LEDs has accelerated their use for different applications, including ATG and underwater segments. Key Outdoor Landscape Lighting Market Driver A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. The growing demand for LED lighting for different applications is notably driving the market growth, although factors such as poor performance of LED lighting at high temperatures may impede the market growth. Outdoor Landscape Lighting Market: Key Drivers, Trends, Challenges, and Customer Landscape Our research report has extensively covered external factors influencing the parent market growth during the forecast period. The parent market, the global electrical components, and the equipment market cover companies engaged in the manufacturing of electric cables and wires, electrical components, and electrical equipment. Technavio categorizes the global outdoor landscape lighting market as a part of the global electrical components and equipment market within the global electrical equipment market. To learn more about this report, Download Report Sample Parent Market Analysis What will be the size of the Outdoor Landscape Lighting Market During the Forecast Period? Furthermore, the report includes historic market data from 2017 to 2021. It also includes an in-depth analysis of drivers, trends, and challenges. This report extensively covers market segmentation by application (ATG and underwater), source (led and traditional), end-user (commercial and residential), and geography (APAC, Europe, North America, South America, and Middle East and Africa). The growth of the market depends on several factors, including the growing demand for LED lighting for different applications, the increasing awareness of the benefits of using high-quality and energy-efficient lighting devices, and the strong government support for the lighting industry. The size of the market is forecast to increase by USD 704.78 million. The outdoor landscape lighting market is estimated to grow at a CAGR of 6% between 20. ![]()
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