Outdoor and parking applications are jumping on the LED bandwagon.
According to a recent report from Navigant Research, worldwide LED luminaire revenues for outdoor and parking applications will grow from US$1.5 billion annually in 2014 to US$1.4 billion by 2021. Currently, outdoor lighting systems are still in the beginning stages of transition from traditional light sources—like fluorescent, high-pressure sodium, and metal halide—to LED lamps.
This transition is possible due to the fact LED prices are continuing to fall while LEDs increase in quality and energy efficiency. Compared to other light sources, LEDs for outdoor and parking applications will dramatically cut energy costs as well as increase lighting quality. Replacement of today’s prevalent lighting technologies in outdoor systems is making more and more sense!
As I, Dr. Bulb, have written before, LED lighting has several benefits over other lighting technologies. LED parking lot lighting helps drivers identify objects, minimizes light pollution, and makes spaces more visually appealing. It also enhances the safety for both pedestrians and motorists.
But since the longevity of LEDs is much longer than traditional lighting, will LEDs sales continue to increase? Direct revenue from lamp and luminaire sales is actually predicted to gradually decline after 2012. However, the 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 sale.