NEW YORK, April 8, 2022 /PRNewswire/ — The “Stadium Lighting Market by Geography (APAC, Europe, North America, Middle East and Africa, and South America) – Forecast and Analysis 2022-2026” report has been added to Technavio’s offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years.
The potential growth difference for the stadium lighting market between 2021 and 2026 is USD 114.4 million, as per the latest market analysis report by Technavio. The report also identifies the market to witness an accelerating growth momentum at a CAGR of 4.75% during the forecast period.
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Key Market Dynamics:
- Market Driver: The increase in stadium construction globally is one of the key drivers supporting the stadium lighting market growth. The growing number of stadium construction and renovation is expected to increase the demand for stadium lighting. Moreover, stadium authorities are focusing more on the lighting amenity as it enhances the viewing experience in the stadium and provides sports broadcasters with high-quality visuals, particularly for slow-motion replays.
- Market Challenge: The rise in environmental concerns related to stadium lights is one of the factors hindering the stadium lighting market growth. A surge in the utilization of energy resources is causing an increase in energy dissipation and carbon dioxide emission. Growing environmental concerns, such as global warming and ozone depletion, are resulting in governments across developed and developing nations imposing stringent regulations to limit carbon dioxide emissions.
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Key Segment Highlights
The stadium lighting market report is segmented by source (HID, LED, and others) and geography (APAC, Europe, North America, Middle East and