LED luminaire shipments for outdoor and parking applications to reach 14 million by 2023, says Navigant

LED luminaire shipments for outdoor and parking applications to reach 14 million by 2023, says Navigant

Press release; Alex Wolfgram, DIGITIMES[Friday 2 May 2014]

Outdoor lighting systems are a major contributor to global energy use. Today, the market segment is dominated by fluorescent, high-pressure sodium, and metal halide lamps. Over the next 10 years, however, LEDs will become the leading lamp type for outdoor installations. According to Navigant Research, worldwide shipments of luminaires with LED lamps for outdoor and parking applications will grow from 4.1 million annually in 2014 to nearly 14 million in 2023.

"LED outdoor area luminaires must compete with existing technologies that are relatively energy efficient and low cost, making lifetime cost savings more challenging in a market led by retrofits and replacements," said Jesse Foote, senior research analyst with Navigant Research. "With LED prices continuing to fall, however, the case for replacing today's most prevalent lighting technologies is becoming more and more compelling."

The growth of smart city initiatives is also driving outdoor lighting systems to become increasingly sophisticated. Smart lighting systems can make decisions in real time; a networked light in a city park, for example, can detect when an individual lamp burns out and immediately schedule a maintenance crew visit. Many companies in the lighting sector now refer to themselves as being at the center of the Internet of Things, rather than as pure-play lighting companies.

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LED luminaire shipments for outdoor and parking applications to reach 14 million by 2023, says Navigant