New York, United States, Aug. 15, 2022 (GLOBE NEWSWIRE) -- Stadium lighting comprises mainly LEDs (Light Emitting Diodes) that emit floodlights and are positioned at great heights with narrow beam angles. Due to the increased light intensities produced by these lower beam angles, brilliant light can reach the ground from elevated positions. Using this technology, players can react quickly to the tiny, rapidly moving balls, and the LEDs can withstand thunderstorms and other adverse weather conditions. Stadium lighting is utilized in various indoor and outdoor situations, including parking lots, walkways, football, hockey, and rugby stadiums, high definition television, and ultra-slow-motion technology. As a result of their better energy economy, LED lighting is becoming increasingly popular in stadiums worldwide. The transition from traditional to LED stadium lighting is one of the key growth drivers for the industry. In addition, the declining cost of LED lights is a significant factor driving their growing adoption in stadiums, influencing the growth of the stadium lighting market.
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Increasing Investments in Developing Sports Infrastructure to Drive the Global Stadium Lighting Market Asia-Pacific governments are boosting their sports infrastructure investments and stadium expansion. The Board of Control hosts international and domestic events for Cricket in India (BCCI), Indian Premier League (IPL), New Zealand Cricket, Melbourne Cricket Association, and Sahara Force India using intelligent technologies. In 2017, the government of New South Wales announced the reconstruction of football and Olympic stadiums at approximately $1.53 billion. In addition, stadium administrators are required to regularly examine their existing lighting systems and report their findings to the relevant governing bodies. Consequently, government initiatives in the sports industry also contribute to the growth of the Asia-Pacific stadium lighting market.
Rising Adoption of IoT, Big Data, and Analytics to Provide Opportunities for the Global Stadium Lighting Market
Stadium lighting is one of the numerous industries in which IoT is currently finding expanding applications. Even though several wealthy nations have begun adopting this stadium lighting technology, it is uncommon in emerging economies. Therefore, it is anticipated that IoT would generate enormous prospects for the global market for stadium lighting. In addition, integrating IoT with stadium lighting systems is expected to improve stadium infrastructure. This makes lighting systems more autonomous and intelligent concerning data sharing with building automation systems and the cloud. Using embedded sensors and data, for instance, IoT enables stadium-wide automatic lighting modifications based on seat occupancy, conserving energy and reducing operational costs. The use of IoT for stadium lighting is still in its infancy, but the potential presented by the proposed solution is encouraging.
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Based on region, the global stadium lighting market is segmented into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
Europe accounted for the largest market share and is estimated to grow at a CAGR of 6.8% during the forecast period. The market expansion is attributable to the government's rising spending on efficient lighting services. In addition, nations such as Germany, Russia, the United Kingdom, and Denmark are focused on deploying energy-efficient lighting to improve illumination quality and lower overall operational costs, which is predicted to increase demand for LED lighting products and solutions. The UEFA European Football Championship is held every four years throughout Europe. The goal of stadium owners is to immerse football spectators in the atmosphere of the sporting event. To accomplish the same, stadium owners cannot ignore the benefits that high-performance and realistic lighting may provide. LEDs are replacing high-intensity discharge lamps, traditionally used in stadium lighting, with more inventive and adaptable lighting systems. Therefore, increasing sports activities in Europe are anticipated to promote the market expansion for stadium lighting.
North America is the second largest region. It is estimated to reach an expected value of USD 387 million by 2030 at a CAGR of 6.6%. North American consumers' growing embrace of technical advances is the key factor driving market expansion. According to estimates, there are now roughly 244 stadiums in the United States. The U.S. industry constructs, modify, and renovates sports stadiums and arenas to enhance audience hospitality. This region's demand is mainly driven by educational institutions and commercial sports organizations, such as leagues and sports franchises. The lighting system attracts spectators, compelling stadium owners to implement innovative lighting techniques. These factors lead to the expansion of the market.
The Asia Pacific Is the fastest growing region. India hosted several international athletic events, including the cricket world cup, the Asian games, the commonwealth games, and the FIFA under-17 world cup. Other domestic sports leagues include the Indian Premier League, the I-League, and the Indian Super League. In addition to the annual Indian premier league, several other cricket competitions are also staged in Indian stadiums, which are anticipated to contribute to the market's growth in the coming years. Cricket matches are also played at night, necessitating the requirement of proper stadium illumination.
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Global Stadium Lighting Market: Segmentation By Light Source
3.2 Value Chain Analysis: Stadium Lighting Market
3.4 Porter's Five Forces Analysis
4.1.1 Market Size & Forecast, 2017–2029, (USD Million)
4.2.1 Market Size & Forecast, 2017–2029, (USD Million)
4.3.1 Market Size & Forecast, 2017–2029, (USD Million)
4.4.1 Market Size & Forecast, 2017–2029, (USD Million)
4.5.1 Market Size & Forecast, 2017–2029, (USD Million)
5.1.1 Market Size & Forecast, 2017–2029, (USD Million)
5.2.1 Market Size & Forecast, 2017–2029, (USD Million)
5.3.1 Market Size & Forecast, 2017–2029, (USD Million)
6.1.1 Market Size & Forecast, 2017–2029, (USD Million)
6.1.1 Market Size & Forecast, 2017–2029, (USD Million)
6.2.1 Market Size & Forecast, 2017–2029, (USD Million)
6.3.1 Market Size & Forecast, 2017–2029, (USD Million)
6.4.1. Market Size & Forecast, 2017–2029, (USD Million)
6.5.1. Market Size & Forecast, 2017–2029, (USD Million)
6.6.1. Market Size & Forecast, 2017–2029, (USD Million)
7.1.1 Market Size & Forecast, 2017–2029, (USD Million)
7.2.1 Market Size & Forecast, 2017–2029, (USD Million)
7.3.1 Market Size & Forecast, 2017–2029, (USD Million)
7.4.1 Market Size & Forecast, 2017–2029, (USD Million)
7.5.1 Market Size & Forecast, 2017–2029, (USD Million)
7.6.1 Market Size & Forecast, 2017–2029, (USD Million)
8.9 Shenzhen Mecree Photoelectric Technology Co., Ltd
Table of Content and Figure https://straitsresearch.com/report/stadium-lighting-market/toc
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