Global LED Outdoor Lighting Market to Continue High Growth in 2014
Affected by the global economic downturn, there has been rising cases of city bankruptcies, which has led to city management increasing value of sustainable development. Among cities public lighting expenditures, outdoor lighting construction and maintenance costs have gradually increased over the years. City managers are also focusing their attention to making suitable living environment on limited budgets with low investment and maintenance costs.
As LED streetlight solutions become more mature, city governments have proven from early test installments that LED luminaires are energy efficient, environmental friendly and have long lifetime. LED streetlight prices have also dropped to prices close to conventional luminaires. From manufacturers exponential shipment growth statistics, and concentrated release of city government bid contracts, LEDinside believes LED outdoor lighting has moved from the development phase to a mature market. In the next few years LED outdoor lightingshipment volume and market size growth will soar on a YoY basis.