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Cost-Effectiveness of LEDs Drives APAC Outdoor Lighting Market Growth

The APAC outdoor lighting market growth is propelled by factors such as swindling prices of light-emitting diodes (LEDs), increasing number of smart cities, and rising government initiatives toward energy conservation. These drivers will drive the market at an 11.1% CAGR during 2019–2024 (forecast period). The market generated $5.6 billion in 2018 and it is set to reach $10.6 billion by 2024.

Currently, the market is observing a trend of using solar power for powering street lights. The solar street lights are suitable for remote areas where electricity is scarce. One of the prime factors fueling the APAC outdoor lighting market is the increasing traffic congestion in the APAC region, on account of the burgeoning number of passenger vehicles on roads, due to the rapid urbanization and the surging disposable income of individuals.

Get the Sample Copy of this Report @ https://www.psmarketresearch.com/market-analysis/apac-outdoor-lighting-market/report-sample

Governments of several regional countries, especially India and China, are installing outdoor lighting systems to reduce traffic jams. These countries are making huge investments on road infrastructure development, thereby leading to the development of new streets and highways, which require numerous street lights. Moreover, rising adoption of LED lights is also facilitating the market, as these consume low energy and are economical for governments and businesses, in long term.

Additionally, LED emergency lights last longer, brighter, and lesser fragile than other types of lights. Besides, cost-effectiveness of such lamps adds to their popularity. Because of such advantages, these lights are being installed in smart cities of India and China. Apart from smart cities, metropolitan cities of the Indian states like Delhi, Maharashtra, and West Bengal are also shifting toward LED lighting systems.

This market research report provides a comprehensive overview of the market
  • Future potential of the market through its forecast for the period 2020– 2030
  • Major factors driving the market and their impact during the short, medium, and long terms
  • Market restraints and their impact during the short, medium, and long terms
  • Recent trends and evolving opportunities for the market participants
  • Historical and the present size of the market segments and understand their comparative future potential
  • Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings

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