Outdoor Lighting Sales Boosted By Outdoor Living Boom

In contrast to the much larger commercial market, which experienced a decline due to the effects of the COVID-19 pandemic, the residential market for outdoor lighting fixtures grew at a healthy pace in 2020, boosted by a spike in homeowner interest in outdoor living, says a report from the Freedonia Group. The outdoor lighting market is forecast to grow at a compound annual growth rate of 4.7 per cent through 2024. The market will continue to gain from investment in outdoor entertaining areas, particularly due to the closure of restaurants, bars, and more limited options for entertainment outside the home. As well, in order to create outdoor areas more suitable for cooking and entertaining, many homeowners are installing more extensive and higher-end lighting fixtures – especially area lighting and floodlights. Going forward, more homeowners will use smart outdoor lighting, which can be controlled remotely via an app but also can be activated via motion sensor.