The demand for street lights is expected to surge at a rapid pace in the future due to an increase in smart cities and government initiatives that aim at developing high-class infrastructure environment. The environmental benefits offered by smart street lights help reduce maintenance costs, decrease carbon emissions, save energy, and control the light intensity.
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Geographically, Asia-Pacific (APAC) region generated the maximum demand in the outdoor lighting market. The surge in demand can be attributed to the implementation of several government initiatives that aim at deploying smart lighting products for developing infrastructure and implementing stringent norms for energy efficiency in nations like Australia, South Korea, China, Japan, and India.
The rising consumption of outdoor LED lighting products is also due to the presence of several distributors and manufacturers of the products in the region. Moreover, P&S Intelligence states that the APAC countries will consume high volumes of outdoor lighting products at a rapid pace. These nations are working toward replacing the conventional lighting systems with LED lights due to the increased focus toward installing energy-efficient lights.
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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