The stadium lighting market is expected to be growing at a compounded annual growth rate (CAGR) of 8.1% from 2020 to 2028.

The stadium lighting market was valued at US$ 465.7 Mn in 2017 and expected to be growing at a compounded annual growth rate (CAGR) of 8.1% from 2020 to 2028.

One of the most prominent factors complimenting market growth can be attributed to the replacement of traditional stadium lights with LED lights. Considering the fact that LED lights are more energy-efficient, has resulted in its increased adoption across stadiums around the world. Moreover, the declining cost of LED lights is another prominent factor leading to its increasing adoption in stadiums, thereby influencing the stadium lighting market growth positively. Moreover, LED lights don’t necessarily flicker as a result of which viewers are not distracted by flashing while watching slow-motion replays.

Internet of Things (IoT) Changing the Dynamics of Stadium Lightings.

Advancements in the field of IoT has enabled information to be exchanged between different electronic devices with minimum or no human intervention. The application of IoT in lighting systems can greatly improve a stadium’s infrastructural capabilities. This also implies that lighting systems will become more intelligent and self-governing in terms of sharing data with building automation systems and the cloud. Therefore, IoT expected to play a crucial role in stadium lighting systems in the years to come. Recently, the training ground of Sparta ’25 in The Netherlands became the first in the world to install IoT-connected sports lighting. The Internet Protocol-controlled floodlights can be controlled by players and officials using a smartphone.

Partnership to Play an Important Role for Stadium Light Manufacturers.

Entering into partnerships is one of the most common strategies adopted by stadium light manufacturers. Under the terms of the partnership, the manufacturer mostly provides both lighting components as well as services. For instance, Musco provided stadium lighting to various stadiums across North America and Latin America. The stadiums included Copper Sky Aquatic Center (U.S.), Wilmington Blue Rocks Frawley Stadium (U.S.), and Estadio Universitario Alberto Chivo Cordoba (Mexico).

The Asia Pacific and the Middle East & Africa to Emerge as Important Markets in the Coming Years.

The global stadium lighting market was dominated by Europe accounting for more than 30% of the overall market value in 2019. The presence of a large number of stadiums in the region contributes to the large market size of the region. Stadiums in Europe have always embraced new technologies and in the coming years, many stadiums are expected to switch to LED stadium lights. This factor expected to positively influence the stadium lighting market growth in the region. The Asia Pacific and The Middle East & Africa are expected to witness high CAGR growth during the forecast period. Construction of new stadiums and up-gradation of existing lighting systems are the two most prominent factors aiding the market growth in the region.

Post time: Mar-15-2021