3 September 2014

LED luminaire market for outdoor and parking applications to peak at $1.4bn in 2021

The global market for LED luminaires for outdoor and parking applications will grow from $921m in 2014 to $1.4bn in 2021, according to a report from Navigant Research.

Outdoor lighting systems are in the early stages of a transition from fluorescent, high-pressure sodium and metal halide lamps to LEDs. As LED prices continue to fall, the case for replacing today’s most prevalent lighting technologies in outdoor systems is becoming inceasingly compelling, says the report ‘Outdoor and Parking Lighting Systems’, which analyzes the market for outdoor luminaires, lamps, and lighting controls in end-use applications including city parks and public areas, sports parks and stadiums, commercial site lighting, open air parking lots, indoor parking garages, and university and college campuses.

“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 senior research analyst Jesse Foote. “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.

Tags: LED luminaire market

Visit: www.navigantresearch.com/research/outdoor-and-parking-lighting-systems