The global outdoor solar Light Emitting Diode (LED) market size was at USD 7.5 Billion in 2022 and is expected to reach USD 55.88 Billion in 2032, and register a revenue CAGR of 25% during the forecast period. The market revenue growth is expected to expand as a result of increasing awareness of the negative environmental effects of conventional lighting systems as well as rising demand for energy-efficient outdoor lighting solutions.

Increasing need for affordable and sustainable lighting solutions, rising popularity of smart cities, and rising demand for remote and off-grid lighting solutions are some of the major factors driving the market revenue growth. In both the residential and commercial sectors, including parks, gardens, roads, and business complexes, outdoor solar LED lighting systems are becoming more widely used.  Manufacturers are consistently creating technologically superior and energy-efficient outdoor solar LED lighting systems in response to growing awareness of the advantages of renewable energy sources among people and rising demand for sustainable energy solutions.

Top Profiled Companies in the Global Outdoor Solar Light Emitting Diode (LED) Market Report:

• Philips Lighting
• Solar Electric Power Company
• Greenshine New Energy
• Osram Licht AG
• Cree, Inc.
• Signify Holding (formerly Philips Lighting)
• Anhui Longvolt Energy Co. Ltd.
• Delight Solar
• Carmanah Technologies Corp.
• Bridgelux, Inc.

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The global consumer goods market revenue growth is primarily attributed to factors such as the rapid increase in global population, an increasing demand for food and other essential consumer goods such as healthcare nutrition, personal care hygiene, and electronic products, and the changing lifestyles and preferences of consumers, the growing demand for packaged and processed products in food and beverage, and the growing working population. Manufacturing and packaging techniques have advanced technologically, as well as the adoption of cutting-edge technologies such as artificial intelligence, the Internet of Things (IoT), big data analytics, robotics, and automation in the consumer goods industry. Other key factors driving global consumer goods market revenues include increasing awareness of the negative environmental effects of plastic packaging, as well as a growing demand for environmentally friendly and sustainable packaging solutions. Consumer income levels are expected to rise in developing economies such as India thanks to government regulations and guidelines regarding product quality and safety.

Key Regional Markets Covered in the Report:

• North America (U.S.A., Canada, Mexico)
• Europe (Italy, U.K., Germany, France, Rest of Europe)
• Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
• Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
• Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)

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Further market segmentation

Application Outlook (Revenue, USD Billion, 2019 - 2032)

• Street Lighting
• Residential
• Commercial
• Others

Wattage Outlook (Revenue, USD Billion, 2019 - 2032)

• Less than 39W
• 40W to 149W
• More than 150W

End-Use Outlook (Revenue, USD Billion, 2019 - 2032)

• Residential
• Commercial
• Industrial

Key Takeaways of the Global Outdoor Solar Light Emitting Diode (LED) Market Report:

• A comprehensive overview of the global Outdoor Solar Light Emitting Diode (LED) industry.
• Accurate market projections in terms of market size, share, and volume.
• Thorough study of the global market dynamics, such as major market revenue growth drivers, opportunities, threats, challenges, restraints, and future growth avenues.
• Deep-dive analysis of the upcoming market trends.
• Qualitative and quantitative analyses of the global Outdoor Solar Light Emitting Diode (LED) market.
• Elaborate study of the leading regional markets in the global Outdoor Solar Light Emitting Diode (LED) market.
• Complete overview of the market’s competitive landscape.
• Brief look at the company profiles and portfolios.

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