BOULDER, Colo.--(BUSINESS WIRE)--Falling prices for light-emitting diode (LED) street lights have spurred a global transition from older lamp technologies to newer, more efficient, and more controllable LEDs. LEDs offer city residents improved nighttime visibility and city managers cost savings from reductions in both energy consumption and maintenance costs. Click to tweet: 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.
“The increase in sales of LED street lights has been surprisingly swift, with some companies reporting that more than half their sales are LEDs and others already planning to discontinue their non-LED product lines,” says Jesse Foote, senior research analyst with Navigant Research. “At the same time, a rising number of cities are deploying networked control systems along with their new LED street lights, and the range of features available from those systems is expanding.”
Although LED street lights appear to be on track for a nearly complete takeover of the market, the adoption of networked control systems for street lights has followed a somewhat slower path. One critical challenge for the networked control industry, according to the report, is a lack of standardization and the large number of diverse players competing in this space. Questions remain over the best networking technology for street light control – power line or radio frequency, and mesh or point-to-multipoint.
The report, “Smart Street Lighting”, analyzes the global market for roadway and highway lighting. It provides an analysis of the market issues, including drivers and trends, barriers, and ownership models, associated with lamps, luminaires, and lighting controls in these street lighting applications. Global market forecasts for unit sales and revenue, segmented by region, application, and equipment and construction type, extend through 2023. The report also examines the key codes, standards, and technologies related to street lighting, as well as the competitive landscape. An Executive Summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Utilities, Smart Transportation, and Smart Buildings sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
Navigant is a specialized, global expert services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals combine technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism in the highly regulated Construction, Energy, Financial Services and Healthcare industries to support clients in addressing their most critical business needs. More information about Navigant can be found at www.navigant.com.
* The information contained in this press release concerning the report, “Smart Street Lighting,” is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.