Energy efficient LED light bulbs are increasingly replacing incandescent bulbs and, while there are many technical and market challenges to resolve, it is clear that new capabilities and functionalities that transcend far beyond the traditional light bulb are emerging. The future of lighting is changing and taking effect now.
The emergence of smart city programs is putting the smart street lighting at the forefront of municipality roadmaps. Smart lighting solutions will enable cities to cover streets with the correct amount of light, depending on the conditions for which it is needed. While these solutions provide municipalities with the right tools to improve citizens’ satisfaction in terms of security, safety, and wellbeing, they also enable councils to make considerable savings in terms of power consumption and lighting system maintenance. In addition, outdoor lighting infrastructure will increasingly serve as a backbone that will carry a number of IoE applications including monitoring changes in weather, pollution rates, and mapping traffic conditions and flow in specific areas of the city.
Off the back of this, other public domains such as office blocks, retailers, and manufacturing plants are starting to look towards smart, connected lighting to better the working environment for their employees, while also improving productivity and customer experience. Much like smart street lighting, businesses will also see the benefits of energy savings and remote lamp monitoring.
In the residential market, homeowners can, among other things, personalize their smart lights to a color representative of their activity or mood, and remotely control timers to welcome them home or to feign occupancy. These advantages of smart LEDs in the home will aid in the drive towards greater LED usage.
This comprehensive forecasting model takes into account the installed bases of residential and street lighting, as well as a range of different public segments, in various regions around the world. The model looks at how the market is moving towards LEDs and their smart capabilities as well as the evolution of the technologies which are used.