The LED Lighting Industry Is Experiencing Huge Growth
Outdoor lighting for businesses is undergoing a transformation. Lighting was once mostly fluorescent, high-pressure sodium and metal halide lamps. Now companies are now making the transition to LED. LED prices are falling, and the cost of running LEDs is lower than more traditional methods. Not only will they save businesses money, but they are kinder to the environment due to lower energy use. A report by Navigant Research predicts that the annual revenue for LEDs for outside uses will increase to $1.4 billion in 2021. It currently stands at $921 million.
There are many more benefits to using LED instead of other lighting methods. They provide a better quality of light. This makes it easier to identify objects and individuals and minimizes glare and light pollution. This makes LED lights safer than some other alternatives, as well as looking better. Businesses can make their outdoor lighting more aesthetically appealing. They can combine LEDs with architectural/decorative columns will improve their outside space.
The lifespan of LEDs is much longer than conventional lighting systems. This is good for businesses purchasing them. But it will mean that the industry will decline after 2021, says Navigant Research’s report. But lighting providers can take advantage of this. They can provide lighting as an ongoing service. Instead of just installing lights, they can offer maintenance and repair. Some companies are developing software to control LED lighting from smartphones or other systems. For example, Philips released a system in 2011 called CityTouch. It allows for managing the energy consumption of each light. It also dims or brightens individual lights and spots failed ones.
One major application of outdoor LED lighting is by cities and towns. Streets, roads and public buildings need outdoor lighting for several applications. Replacing city lights with LED can improve the aesthetic of the entire city. By reducing glare and light pollution, the whole cityscape can change to look almost like a new place altogether. LED lighting costs three to four times more than more traditional lighting methods to install. But their longevity is worth it. They last longer and produce more light per watt. So even if cities have to pay more at first, they will save large amounts of electrical costs.
In 2013, only 19 million of the streetlights installed worldwide were LED. But by 2020 experts expect there to be 100 million LED lamps out of the 155 million installed. New York will be replacing 250,000 streetlights by 2017 in a $76 million project. City officials expect to save $14 million in energy and maintenance savings each year. Some LED manufacturers are taking advantage of these savings. They set up financing schemes where they take a share of the long-term savings and waive installation costs.
If businesses and even cities want to save money then LED lighting solutions appear to be the answer. This longer-lasting and safer method of lighting is on the rise and will soon be in the majority.