With the advent of LED lighting, the residential and commercial places have undergone a tremendous makeover. The LED revolution is now going to penetrate the stadium lighting. According to a study by Research and Markets, the stadium lighting market is expected to grow almost $200 million by 2023 and will reach $622.2 million.
The plausible factor which is driving the increase in adoption is the cost per lumen. The lumen measures light whereas the conventional measure of watt is just power used. That cost per lumen improvement is driven by more efficient LEDs and cheaper luminaries.
LEDs in large outdoor fixtures have gone from 80 lumens to watt average in 2013 to now 130 lumens to watt average in 2018. The cost of that watt in high-output fixtures is going down, now at $1.36/watt of street pricing in 2018. With significant factors such as high efficiency, dropping costs and versatility, it is not surprising that LED lights have taken over the world of stadium and arena lighting.
Also, the application of stadium and sports LED lighting solutions go well beyond sports. Places such as rodeos, roping arenas, high school, college sports venues, racetracks, concert arenas are all taking advantage of sports lighting. With the cost of LED lighting falling down while the efficiency keeps growing, LED lighting has seen tremendous growth over the years.