LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the LED lighting market in Brazil provides an analysis on the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
Raghu Raj Singh, a lead analyst from Technavio, specializing in research on lighting sector, says, “The LED lighting market in Brazil is expected to grow at a CAGR of more than 14% during the forecast period. The residential and retail segments are the largest contributors to the market due to increasing demand for energy-efficient lighting systems.”
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The top three emerging market trends driving the LED lighting market in Brazil according to Technavio research analysts are:
- Emergence of smart lighting
- Increasing urban population and households
- Emergence of smart cities
Emergence of smart lighting
Smart lighting helps save electricity by controlling the cooling, heating, and lighting. It also enables the control of appliances remotely. It helps reduce electricity expenses as it determines when exactly a light should be switched on or off. Different smart lighting networks do diverse things, but some of the popular features of smart lights include switching on when someone enters a room or change color under some conditions. Smart lighting network does all the work automatically, and programming of the lights can be done to respond to the users' commands.
“The adoption of LEDs can provide significant energy savings, as well as new opportunities for integration with smart and IoT initiatives. The increasing inclination toward smart lighting in Brazil is encouraging vendors to establish strategic partnerships and to develop a smart lighting ecosystem in Brazil. In 2017, Gooee, a smart lighting startup, partnered with Brazilian LED lighting solution provider Lumicenter Lighting Group to explore the opportunities of IoT technology in LEDs,” says Raghu.
Increasing urban population and households
Increasing urbanization in Brazil is leading to growing demand for LED lighting products to cater to the growing number of households. As the residential sector is the major revenue contributor in the LED general lighting market in Brazil, the growth of the residential sector will positively impact the market. The commercial sector in Brazil is also growing rapidly, which has led to rapid urbanization in many areas of Brazil such as Rio de Janeiro and São Paulo.
The Brazilian government is investing in large-scale urban infrastructure projects, in order to meet the needs of the growing population. For instance, in 2016, the Brazilian government announced a concession of 34 infrastructure projects that will be awarded to the private sector. All these projects will require lighting sources, which will lead to an increase in the use of LED lighting, as it is more efficient than traditional lighting sources.
Emergence of smart cities
A smart city incorporates the combination of IoT technology and information and communication technology (ICT) in a secure manner to manage a city's assets. Smart cities can transform the life and work of its inhabitants, both economically and socially. The Brazilian government is investing in technologies such as water management, smart grids, smart street lighting, climate action plans, urban mobility, and smart parking to achieve this goal.
A number of cities throughout Brazil have implemented or have begun the development of smart city projects that would be deployed in the near future. Some of the noteworthy examples of cities undertaking such projects are São Paulo, Rio de Janeiro, Brasilia, and Curitiba. In many of the cases, smart technologies are being used to transform the existing cities.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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