According to a new report from Navigant Research, the market share of LEDs in street lighting worldwide will grow from 53.3 percent in 2014 to 93.8 percent in 2023.
Jesse Foote, senior research analyst, Navigant Research, said,” The increase in sales of LED street lights has been fast, with some companies reporting that most of their sales are LEDs and others discontinuing their non-LED product lines. Some cities are deploying networked control systems along with the LED street lights offering a wide range of features.”
LED street lights have the potential to conquer the market. Anyway, the adoption of networked control systems for street lights has slowed down the whole process. A challenge for the networked control industry is lack of standardization and so many competing players, according to the report.
The report, Smart Street Lighting, analyzes the global market for roadway and highway lighting. It analyses the market issues regarding drivers and trends, barriers, ownership models, associated with lamps, luminaires, and lighting controls used in street lighting applications.
Global market forecasts for unit sales and revenue, segmented by region, application, and equipment and construction type, will go through 2023. The report examines the key codes, standards and technologies as well as the competitive landscape.