Emergency Lighting Market to Generate Revenue Worth $9,993.4 Million by 2030 says P&S Intelligence

Arada, a real estate developer based in the U.A.E., revealed smart city plans for its mega urban project in Sharjah in November 2018. Being developed with an investment of $6.5 billion, the project, named Aljada, has a completion deadline of 2025. Similarly, the Indian government has set the wheels turning for setting up 100 smart cities.

This is to be a key enabling factor for the growth of the global emergency lighting market value to $9,993.4 million by 2030 from $5,386.0 million in 2020, at a 6.4% CAGR during 2021–2030, according to the market research study published by P&S Intelligence.

The emergency lighting market is witnessing the negative impact of the COVID-19 pandemic, mainly because of factory shutdowns, which have impacted the trade of emergency lights and their components. Similarly, construction projects have been put on the backburner, and funding for them has been reduced or completely stopped, which has decreased the demand for such fixtures.

Historically, North America was the highest-revenue-generating emergency lighting market on account of the rapid infrastructure development and stringent government measures regarding the safety of people. Moreover, the energy efficiency measures taken in the U.S. and Canada are propelling the installation of LED emergency lights.