LONDON, May 5, 2015 /PRNewswire/ -- Stricter fire and safety regulations as well as the construction of new enterprise buildings are giving rise to new opportunities for global participants in the emergency lighting market. Technological advancements in lighting automation systems and deployment of multi-brand strategies will further spur market growth.
New analysis from Frost & Sullivan, Global Emergency Lighting Market, finds that the market earned revenues of $3.28 billion in 2014 and estimates this to reach $4.91 billion in 2018. Capitalising on potential in Asia-Pacific and the Middle East will help lighting suppliers sustain profits.
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"The advent of new battery technologies such as lithium ion, along with high-performance, energy-efficient LED emergency lighting as well as automated testing and monitoring solutions, are finding their way into the market," said Frost & Sullivan Energy and Environmental Research Analyst Anirudh Bhaskaran. "These solutions will play a crucial role in addressing the technical demands of emergency lighting end users in the next five years."
However, challenges like market maturity in the West and lack of awareness in the East are hindering the overall growth of the market. High capital investments and operational costs of emergency lighting also restrain adoption in the Middle East, Africa and Asia-Pacific.
"Employing digitally addressable lighting interface or DALI systems as well as automated testing and monitoring of emergency lighting in tandem with advanced software is necessary to address these challenges," advised Bhaskaran. "Low-power, centrally-supplied emergency lighting with self-testing and monitoring capabilities will also help decrease costs in expensive commercial and public projects."
In addition, establishing partnerships with local participants will be crucial for emergency lighting providers to expand into new territories and widen their footprint in the global market.
Global Emergency Lighting Market is part of the Building Management Technologies (http://www.buildingtechnologies.frost.com) Growth Partnership Service program. Frost & Sullivan's related studies include: Global Fire and Safety Market, and Middle East LED Lighting Market. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
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Global Emergency Lighting Market
MAA9-19
Contact:
Chiara Carella
Corporate Communications - Europe
P: +44 (0) 20 7343 8314
M: +44 (0) 753 3017689
E: chiara.carella@frost.com
