The Asia-Pacific (APAC) region is witnessing a surge in the installation of internet of things (IoT)-enabled emergency lights, as the technology makes it easy for private and public organizations to preserve more energy via smart lighting systems. IoT allows lighting solutions to adapt to environmental conditions, such as rain and fog, thereby, ensuring adequate illumination according to the requirement and maximizing energy consumption. Furthermore, the integration of IoT helps in testing and monitoring all emergency lights from any location at any time.
These technological advancements along with stringent guidelines by governments pertaining to safety in numerous establishments will drive the APAC emergency lighting market at 10.1% CAGR during 2019–2024. The market generated revenue of $1.2 billion in 2018, which is expected to reach $2.1 billion by 2024. For instance, safety norms in India state that restaurants, schools, offices, and shopping malls should have emergency/fire exits. Such escape routes must carry appropriate symbols and should be properly illuminated to indicate exists in emergency situations. Emergency lighting solutions offer constant lighting and help in safe evacuation.
Get More Insights: APAC Emergency Lighting Market Segmentation Analysis Report
Currently, the APAC emergency lighting market is observing the trend of rising installation of light-emitting diode (LED) lights, due to the low-electricity consumption associated with the LED technology, in comparison to other technologies. Owing to the high-energy efficiency, these lights are considered a cost-effective option, especially in the long run. Moreover, LED emergency lights are less fragile and have longer life span, which make them more suitable in times of energy scarcity. Further, reducing prices of LED lamps have propelled the demand for these lights in recent years.
Emergency lights are widely used in industrial, commercial, and residential units of APAC nations. In the coming years, residential facilities are expected to deploy the largest quantity of emergency lights, especially in Taiwan, China, South Korea, and Japan. These countries mostly deploy central power emergency lighting systems, due to longer battery life and easier battery replacement in these systems, as compared to self-contained systems. With the surge in construction activities, rapid urbanization, and robust industrialization, manufacturing plants, housing units, and commercial units will witness growth, thereby, amplifying the utilization of emergency lighting systems.
The battery segment of the APAC emergency lighting market is categorized into lead–acid, nickel–metal hydride (Ni–MH), lithium-ion (Li-ion), and nickel–cadmium (Ni–Cd). Among these, the Li-ion category accounted for the largest market share in 2018, due to the amplifying support from governments of several APAC countries, which are taking initiatives to support the production of Li-ion batteries. For example, the Indian government aspires to set up Li-ion battery manufacturing base under its ‘Make in India’ initiative, owing to the lightweight and high-energy efficiency of the battery.
On account of the increasing government support, key players such as Schneider Electric SE, Osram Licht AG, PNE Industries Ltd., Zumtobel Group AG, Eaton Corporation plc, Larson Electronics LLC, Kejie Electronic Co. Ltd., and Beghelli S.p.A., are focusing on product launches to expand their consumer base. For example, in May 2018, Syska LED Lights Pvt. Ltd. launched emergency lanterns and emergency bulbs in its LED portfolio. These lights are eco-friendly and easy to handle and carry.
Thus, the stringent safety norms and the vast construction of commercial and residential units will fuel the adoption of emergency lights in the APAC region.