In Emergency Lighting Market Technological Advancements Play a Pivotal Role of Growth – Site Title
Emergency Lighting Market is projected to reach $7,900 million by 2023, growing at a CAGR of 7.9% during 2017 – 2023 The author estimates that the size of global emergency lighting market is likely to grow from $4.5 billion in 2016 to reach $7.9 billion by 2023, at a CAGR of 7.9% during 2017 – 2023. Booming urbanization gives birth to the inevitable need for solutions that make livelihood safe and secure. Emergency lighting is one such product whose demand is growing considerably, with the up ticking per capita income of the consumers globally. The rapid growth in construction projects can be cited as an instrumental factor for the growth of the market. The study highlights that self-contained emergency lighting has been the largest and fastest growing category in the market. Based on battery used, LiFePO4 based emergency lighting is forecasted to grow at the highest rate. Among the various light sources, LED emergency lights are expected to display the strongest growth during the forecast period.
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