13.01.2021 Культура

Impact of COVID-19 Outbreak on Outdoor Lighting Market Growth Strategies, Rising Trends and Revenue Analysis

The demand for street lights is expected to surge at a rapid pace in the future due to an increase in smart cities and government initiatives that aim at developing high-class infrastructure environment. The environmental benefits offered by smart street lights help reduce maintenance costs, decrease carbon emissions, save energy, and control the light intensity. LED-based street lights are being deployed by the government, contractors, and private builders at bridges, parking lots, airports, highway roads, and village square streets.

Geographically, Asia-Pacific (APAC) region generated the maximum demand in the outdoor lighting market. The surge in demand can be attributed to the implementation of several government initiatives that aim at deploying smart lighting products for developing infrastructure and implementing stringent norms for energy efficiency in nations like Australia, South Korea, China, Japan, and India. The rising consumption of outdoor LED lighting products is also due to the presence of several distributors and manufacturers of the products in the region.

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Moreover, P&S Intelligence states that the APAC countries will consume high volumes of outdoor lighting products at a rapid pace. These nations are working toward replacing the conventional lighting systems with LED lights due to the increased focus toward installing energy-efficient lights. Owing to the surge in population and growth in urbanization, the emerging economies of the region will install large quantities of LEDs for outdoor lighting in the upcoming years.

Therefore, the shift toward sustainable infrastructure environment will lead to the installation of large-scale adoption of LED and solar lights for outdoor lighting systems.