The streets and roads application segment likely to dominate the outdoor LED lighting market from 2022 to 2027
According to market estimates, The streets and roads segment is expected to account for the largest market share throughout the forecast period due to rapid urbanization and government efforts to reduce energy consumption with the adoption of LED lighting solutions. Streets and roadways are continuously illuminated; hence, there is a high requirement for energy. Therefore, switching to LED lighting is a better choice. Streets and roadways are expected to provide lucrative opportunities to LED lighting market players.
LED lightings are energy-save, and long life span. Because of these advantages, we believe that it will be used more and more in street and road lighting.