Aug 19 2014
Outdoor lighting systems are in the early stages of a transition from fluorescent, high-pressure sodium, and metal halide lamps to light-emitting diodes (LEDs).
As LED prices continue to fall, the case for replacing today’s most prevalent lighting technologies in outdoor systems is becoming more and more compelling. Click to tweet: According to a recent report from Navigant Research, worldwide revenue from LED luminaires for outdoor and parking applications will grow from $921 million annually in 2014 to $1.4 billion in 2021.
“While the deployment of LED lighting in parking lots will dramatically cut energy bills and help politicians achieve environmental goals, better lighting quality is a significant additional benefit in itself,” says Jesse Foote, senior research analyst with Navigant Research. “LED lighting can help drivers better identify objects, obstacles, and individuals; minimize glare and light pollution; and make spaces more visually appealing while enhancing safety for pedestrians and motorists.”
Because the lifespan of LEDs is much longer than that of conventional lighting, direct revenue from lamp and luminaire sales will actually decline gradually after 2021, according to the report. This trend will drive the large lighting providers to move toward a “lighting-as-a-service” model, in which LED lighting and energy management will be offered as an ongoing service rather than a one-time equipment sale.
Source: http://www.navigantresearch.com/