Technological advancements, such as smart lights, LED innovations and high-efficient ballasts, are making the global indicator lights market more competitive than ever. Within the lighting industry, LED technology has become one of the driving forces behind new concepts and applications for indicator lights. These advancements are generating the demand for indicator lighting systems in indoor applications as well as in outdoor applications. Moreover, continuous growth in the population as well as modernisation is increasing the worldwide demand for indicator lights. In the recent past, it has been observed that favourable legislations of governments across the world have boosted the indicator lights market. The government in several countries, such as India, China, Germany, Japan, U.S., etc., are taking initiatives to develop smart city projects as well as smart transportation infrastructure. These government initiatives are anticipated to fuel the growth of the global indicator lights market.
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Furthermore, increase in the adoption of indicator lights in several industry verticals, such as airlines, healthcare, automotive and railways, is generating the demand for advanced indicator lighting systems across the world. Moreover, increase in the usage of indicator lights for outdoor applications, such as roadways, traffic lights, tunnels and parking lots, is expected to create significant growth opportunities for the indicator lights market. In addition, increase in the adoption of next-generation indicator lights, which include emergency lights, traffic lights and those used in automobiles, are among key factors expected to boost the indicator lights market in the near future.
Indicator Lights market: Drivers and Challenges
The major growth drivers of the indicator lights market include rise in the demand for energy-efficient lighting systems in indoor and outdoor applications. Furthermore, increase in demand from the automotive industry is surging the global indicator lights market. Demand for smart lights in several industries is among key growth factors of the indicator lights market. In addition, a quantitative increase in smart city projects worldwide is projected to drive the global indicator lights market.
Indicator Lights market: Segmentation
The global indicator lights market can be segmented as follows:
Segmentation of the indicator lights market on the basis of installation type:
Segmentation of the indicator lights market on the basis of end-user:
Segmentation of the indicator lights market on the basis of application:
Segmentation of the indicator lights market on the basis of vertical:
Indicator Lights Market: Competition Landscape
Some of the major players in the global indicator lights market include Allen-Bradley (Rockwell Automation, Inc.); Baomain Electric Co., Ltd.; Chicago Miniature Lighting; Dialight; Jameco Electronics; JKL Components Corporation; Banner Engineering; Littelfuse, Inc.; GM Fleet; OMEGA Engineering and Bulgin Components.
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The report covers exhaustive analysis on:
Indicator Lights market Segments
Market Dynamics of Indicator Lights market
Historical Actual Market Size, 2013 – 2017
Market Size & Forecast 2018 to 2028
Value Chain of Indicator Lights market
Market Current Trends/Issues/Challenges
Competition & Companies involved
Market Drivers and Restraints
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