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.