Navigant Research's report, ‘Smart Street Lighting: LEDs, Communications Equipment, and Network Management Software for Roadway and Highway Lighting: Global Market Analysis and Forecasts’, shows great projected global growth for the LED streetlight market. Currently, approximately 53% of all global streetlights are LED. According to the new report, that number will rise to 93.8% in less than ten years, a marked growth in a short period of time.
Falling LED prices are the main reason for the rise in installation. Benefits of LED lighting include: whiter, brighter light offering, providing better visibility for drivers and pedestrians, greater energy efficiency, and lower maintenance costs as the bulbs last a good deal longer than older technologies. Additionally, more and more options are becoming available for LED technology, making it easier to customize the lights to fit the needs of the customer. With the increase in popularity of LED lighting, many lighting companies are completely discontinuing non-LED technology altogether.
Even with the massive expansion of the LED industry, it is forecasted that actual global revenue stemming from street lighting is going down due to the recent price decline of LEDs as well as the lowered maintenance costs because of fewer bulb replacements.
Learn more about LED and other efficient lighting options by browsing our Lighting and Controls page, and find out how your facility can begin to benefit from enhanced lighting options.
Source: Semi-Conductor Today