Report on Street Lighting Market Estimates $ 1.47 Billion Growth Globally During 2020-2024
The street lighting market is expected to post a year-over-year growth rate of 3.10%, according to a new report. The market already saw a maximum growth in the LED segment in 2019.
The growth of the segment is driven by the high life span of LED lights over conventional lighting systems.
53% of the growth will originate from the APAC region. Market growth in APAC is driven by the introduction of various initiatives by governments to promote energy-efficient lights and the presence of a large number of LED chip and packaging factories in China, Japan, South Korea, and Taiwan.
The growth of the segment is driven by the high life span of LED lights over conventional lighting systems.
53% of the growth will originate from the APAC region. Market growth in APAC is driven by the introduction of various initiatives by governments to promote energy-efficient lights and the presence of a large number of LED chip and packaging factories in China, Japan, South Korea, and Taiwan.
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