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According to reports, a report from StrategiesUnlimited pointed out that the global LED outdoor lighting market is expected to reach about $1.9 billion in 2017.
At the same time, the report also said that in 2012 LED outdoor lighting market demand increased, nearly 2 million LED lighting equipment installed in tunnels and highways. The report also predicts that LED street light installations will grow by 400 in the next five years, but revenue growth will decline as market saturation drives down prices.
In 2012, governments and regulators around the world encouraged LED lighting in a variety of ways, including the US Recovery Act Fund, China's Twelfth Five-Year Plan, and Europe's 20/20/20 Initiative. Developed countries and emerging economies are installing LED street lights on a large scale.
Philips, Director of ResearchUnlimitedLED and Lighting Research. Philip Smallwood said: LED street light shipments are expected to have a compound annual growth rate of 31, and due to price pressure caused by competition, revenue growth from 2012 to 2017 is expected to be 16. North America and Europe are expected to be separately The average fell by around 20 and 15.
In 2009, after a catastrophic response to a variety of products plagued by initial LED installation failures, China has required all bidders to meet the quality requirements for LED streetlight installations. Coupled with the government's efforts to promote the use of energy-saving products, the country's energy consumption and carbon emissions are reduced by 16 and 17 respectively.
In the United States, the price war of LED street lights has attracted many viewers in the past year. One of the peaks is Cree's $99 residential LED street light. Although the price has declined and the quality of the product has not been discounted, the US Department of Energy (DOE) is still implementing strict product quality requirements. With the advancement of SSL (Secure Sockets Layer) outdoor lighting technology, the US market price continues to decline. StrategyUnlimited analyst Shunika. Shonika Vijay said that North America (mainly the US) will show positive growth, and will increase by 44 in 2017 compared to 2012.