Global emergency lighting is expected to account for 3.3% growth in 2021 after a decline of 6.7% in 2020 due to the pandemic. The market will only reach the pre-COVID-19 growth rate in 2022. Market revenue is forecasted to be valued at $6.9 billion by 2027 with a compound annual growth rate (CAGR) of 5.9% from 2020 to 2027.
North America will continue to be the largest region for this market in 2027. Europe is considered a relatively more mature market for emergency lighting. Historically, it is the second-largest region in market revenue, but it is likely to take the third spot in 2025.
Asia-Pacific will emerge as the second-largest emergency lighting market as early as 2025. The region will also account for the highest CAGR. Latin American and Middle Eastern and African regions form the smallest revenue in emergency lighting.
The emergency lighting market is moving toward 100% LED for the light source and lithium-ion technology for battery systems. Adoption of adaptive evacuation systems with dynamic signage features is gaining momentum due to the increasing need for more integrated and advanced life safety systems during emergencies.