LED lighting to comprise nearly 94% of street lighting sales by 2023

The market share of LEDs in street lighting worldwide will grow from 53.3% in 2014 to 93.8% in 2023, as falling prices for LED street lights are spurring a global transition from older lamp technologies to newer, more efficient, and more controllable LEDs, according to Navigant Research’s report ‘Smart Street Lighting: LEDs, Communications Equipment, and Network Management Software for Roadway and Highway Lighting: Global Market Analysis and Forecasts’. The whiter light of LED street lights offers city residents improved nighttime visibility, while the greater energy efficiency and longevity offer city managers cost savings from reductions in both energy consumption and maintenance costs.