The prime focus of the different governments across the world at the
present time is saving energy due to the surging energy crisis. It is
because of this that the demand for energy efficient lighting solutions,
primarily light emitting diodes (LED), is growing. Since LEDs can work efficiently for long operating hours and have low
maintenance cost, they are particularly beneficial in outdoor lighting
applications.
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Outdoor lighting includes illumination of public landscapes and
private gardens for the purpose of security, safety, convenience, and
nighttime aesthetics. As per a research conducted by P&S
Intelligence, in 2017, the global outdoor lighting market generated a revenue of $8,740.0 million and is expected to advance at an 8.0% CAGR during the forecast period (2018–2023).
In addition to this, LEDs make excellent directional light source and
are substantial with a long lifespan, which is why many local
authorities, such as municipalities of different counties, have
initiated projects to change their conventional outdoor lighting sources
to LEDs. Apart from LEDs, high intensity discharge (HID) lamps, plasma lamps,
and fluorescent lights are also utilized for outdoor lighting
applications.
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Among these, the largest demand during 2013–2017 was
created for HID lamps; however, during 2020–2023, the requirement for
LED lights is predicted to be the highest. Out of these, the largest demand for outdoor lighting solutions was
created for street lighting applications during 2013–2017 and the
situation is expected to be the same during the forecast period as well
due to the rising adoption of LED and solar-based lighting around the
world.
Different types of outdoor lighting solutions are distributed by
commercial and retail distribution channels. The higher demand for
outdoor lighting is projected to be created by the commercial
distribution channel in the coming years.
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