(MENAFN- iCrowdNewsWire) The global Solar LED Street Lighting Market is forecasted to be worth USD 13.89 Billion by 2027, according to a new report by Emergen Research. The solar LED street lighting market is anticipated to grow significantly owing to the growing need for energy-efficient lighting systems and the rising integration of the IoT with lighting systems. A highly methodical quantitative as well as qualitative analysis of the global External Electrical Stimulation Devices market has been covered in the report. The study evaluates the numerous aspects of this industry by studying its historical and forecast data. The research report also provides Porter's five force model, in tandem with the SWOT analysis and PESTEL analysis of the External Electrical Stimulation Devices market
Solar LED Street Lighting Market Size – USD 5.60 billion in 2019, Market Growth – CAGR of 13.4%, Market Trends – The rise in the Smart Solar Street Lighting popularity. Due to the advantages, such as less maintenance, uniform mounting, long service life, ecofriendly, and no RF interference, the light pole segment is expected to dominate the market with a CAGR of 13.4%.
The increasing government initiative to implement smart grid and smart city, rising adoption of IoT and the growing use of energy-saving lighting systems are driving the demand for the market. The increase in energy usage globally is another factor for the substantial growth in the global solar LED street lighting market. Due to certain government influence, such as feed-in tariff and net metering, the grid-connected system is anticipated to witness significant growth over the forecast timeframe.
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Key participants include Su-Kam Power Systems Ltd., Sunna Design Inc., Dragon’s Breath Solar, Bridgelux, Inc., Greenshine New Energy LLC, Signify Holding B.V., Solar Lighting International Inc, Anhui Longvolt Energy Co. Ltd., BISOL Group, d.o.o., and Orion Solar among others.
The market intelligence report takes a closer view of the global market share, estimated growth rate, future market trends, entry-level barriers, fundamental market drivers, restraints, challenges, and opportunities.
Component Outlook (Revenue, USD Billion; 2017-2027)
End-Use Outlook (Revenue, USD Billion; 2017-2027)
Product Outlook (Revenue, USD Billion; 2017-2027)
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Key geographical areas:
Middle East & Africa
In June 2019, Signify N.V. was installed 20 Philips SunStay solar street lights in Infanta Elena Park in Seville, Spain, in one housing, these solar lights have an integrated solar panel, luminaire, charge controller, and battery. These lights are also compact and easy to assemble and require less maintenance.
Those are further intended to assist businesses involved in this sector in sound decision-making and formulating lucrative business plans. The primary addressees of this report include some of the globally renowned venture capitalists. The report offers these individuals a vivid description of the competitive spectrum of the global Solar LED Street Lighting market.
Radical Highlights of the Solar LED Street Lighting Market Report:
Comprehensive overview of the Solar LED Street Lighting market along with analysis of the changing dynamics of the market
Growth Assessment of various market segments throughout the forecast period
Regional and global analysis of the market players, including their market share and global position
Information about profit-making strategies and developmental strategies of major companies and manufacturers
Insightful information for the new entrants willing to enter the market
Details and insights about business expansion strategies, product launches, and other collaborations
COVID-19 Impact Analysis:
This report is the latest document encompassing the massive changes that took place in the Solar LED Street Lighting market following the emergence of the COVID-19 pandemic. The pandemic has drastically affected the global economic landscape, thereby disrupting the operating mechanism of the Solar LED Street Lighting market. The severe global crisis has prompted organizations to efficiently respond to the rapidly shifting business environment. Therefore, the report fully covers the profound impact of COVID-19 on this industry, with a special focus on the affected industry segments. However, the market is expected to regain momentum in the post-COVID-19 era. The report also offers an initial and future impact assessment of the pandemic on the Solar LED Street Lighting industry. Hence, the vital COVID-19 insights offered by the report are expected to help organizations manage their businesses effectively in extreme economic uncertainties.
Queries addressed in the Global Solar LED Street Lighting Market Study:
Who are the major participants, and what are their strategies in the Global Solar LED Street Lighting market?
What are the outcomes of the SWOT and Porter's five forces analyses of the Solar LED Street Lighting market?
What are the different opportunities and threats operating in the Global Solar LED Street Lighting market?
What are the strengths and weaknesses and business strategies of the leading producers or suppliers in the Solar LED Street Lighting market?
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