Skip to main content

APAC Outdoor Lighting Market Size, Status, Top Players, Trends in Upcoming Years

The Asia-Pacific (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. 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. Another key factor driving the APAC outdoor lighting market is the increasing government initiatives to promote energy conservation and energy efficiency.

 The governments across the region are implementing several energy-efficient plans that focus on reducing thermal pollution and greenhouse gas (GHG) emissions. For example, the Australian government and the Institute of Public Works Engineering Australasia (IPWEA) together introduced a strategic roadmap for Street Lighting and Smart Controls Program to promote LED lamps to amplify energy efficiency.

With the growing chaos on roads and the increasing number of smart cities, the installation of outdoor lighting systems will amplify in the foreseeable future. 

Comments

Post a Comment

Popular posts from this blog

Increasing Internet Penetration Fueling Demand for Product Analytics

With the increasing penetration of the internet in both developing countries such as China and India and developed countries such as Singapore and the U.S., the worldwide demand for product analytics is rising rapidly. For example, according to the Office for National Statistics, in 2018, 90% of all households in Great Britain had access to the internet. Get the Sample Copy of this Report @ https://www.psmarketresearch.com/market-analysis/product-analytics-market/report-sample Additionally, the total percentage of adults who used the internet daily grew from 35% to 86% from 2006 to 2018 in the country. The rapid digital transformation in various countries is pushing up the requirement for product analytics solutions. Moreover, businesses all over the world are increasingly adopting advanced technologies such as product analytics for building a holistic understanding and delivering greater customer engagement. Apart from this, rapid advancements and innovations being made in various cog...
Post a Comment
Read more

Conversational AI Market Worldwide Opportunities, Driving Forces, COVID-19 Impact Analysis, Future Potential 2030

There are two ways in which conversational AI solutions are deployed, namely cloud and on-premises. Of these, the conversational AI solutions deployed through cloud recorded higher demand in 2018, and this deployment method is expected to remain more popular in the coming years. This is primarily attributed to the ballooning demand for scalability and easier maintenance features and 24*7 services offered by these solutions. Furthermore, many major companies are adopting cloud-based solutions for increasing their operational flexibility and reducing their operational costs. Coherent with these facts, the biggest phenomenon currently being observed in the conversational AI market is the mushrooming implementation of chatbots, as well as IVA, in various healthcare applications. Geographically, the highest demand for conversational AI market share has been witnessed in North America in the last few years, and the next few years will witness a similar situation. For instance, a Mahara...
Post a Comment
Read more

Battery Management System Market Size, Status, Top Players, Trends in Upcoming Years

The International Energy Association (IEA) predicts that the sale of battery electric vehicles (BEV) (trucks) and plug-in hybrid electric vehicles (PHEV) (trucks) will reach around 96,555 units and 107,571 units, respectively, by 2025. The organization also forecasts that the global stock of BEV cars and PHEV cars will reach 29,626,576 units and 16,335,941 units, respectively, by 2025. The surging electric vehicle (EV) sales will create an extensive requirement for battery management systems (BMSs) in the coming years, as batteries are the most important component of such vehicles. Besides, the surging use of rechargeable batteries in consumer electronic products is expected to drive the battery management system market at a vigorous CAGR of 15.0% during the forecast period (2021–2030).   The market revenue is expected to surge from $5,661.0 million in 2020 to $22,279.6 million by 2030. BMSs are installed in consumer electronics to control the operation of batteries and manag...
Post a Comment
Read more