Portland, OR, Jan. 23, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global solar motion sensor wall light market was estimated at $207.0 million in 2021 and is expected to hit $396.1 million by 2031, registering a CAGR of 7.2% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
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Report coverage & details:
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $207.0 Million |
| Market Size in 2031 | $396.1 Million |
| CAGR | 7.2% |
| No. of Pages in Report | 347 |
| Segments Covered | Sensor Type, Application, End Use and Region |
| Drivers | Inclination towards the low maintenance and waterproof wall lighting solution |
| Increase demand for security-related lighting solutions | |
| Restraints | Sunlight absorption hindered and performance degraded issues with long-time exposure outside |
| Opportunities | Adoption of simple energy-conservation measures and methods |
Covid-19 scenario-
- The disrupted supply chain across the world gave way to decrease the import of solar motion sensor wall light products, which in turn impacted the global solar motion sensor wall light market negatively, especially during the initial phase.
- However, as the global situation started recovering, the demand for high security light products in residential will increase which will support the market to retrieved slowly and steadily.
The global solar motion sensor wall light market is analyzed across sensor type, application, end use and region. The report takes in an exhaustive analysis of the segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.
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By sensor type, the passive infrared sensors segment held the largest share in 2021, garnering more than two-fifths of the global solar motion sensor wall light market revenue, and is projected to maintain its dominance by 2031. The microwave radars segment, on the other hand, would showcase the CAGR of 6.9% during the forecast period.
By Application, the lighting segment contributed to nearly one-fourth of the global solar motion sensor wall light market share in 2021, and is projected to rule the roost by 2031. The security segment, on the other hand, would display the fastest CAGR of 7.5% throughout the forecast period.
By end use, the residential segment accounted for the highest share in 2021, generating around half of the global solar motion sensor wall light market revenue. The commercial segment, simultaneously, would portray the CAGR of 7.0% during the forecast period. The other segments are also analyzed through the report.
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By region, Asia-Pacific held the major share in 2021, garnering more than one-thirds of the global solar motion sensor wall light market revenue. The same region would also showcase the fastest CAGR of 7.5% from 2022 to 2031. The other provinces assessed through the report include North America, Europe, and LAMEA.
The key market players analyzed in the global solar motion sensor wall light market report include Lee Valley Tools Ltd., Wentronic GmbH, LITOM, Smart Detect UK, LYX – Luminaires, LEDVANCE GmbH. As a subsidiary of MLS CO,LTD, CGC Interiors, Koninklijke Philips N.V., SDD HONGKONG TRADING LIMITED, hugo brennenstuhl gmbh & co. kg. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance and developments by the top players.
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