Energy Saving LED Strip Lights Gaining Popularity All Over The World

There are predictions that the smart lighting market all over the world would increase at a compound annual growth rate (CAGR) of over 19% throughout the projection period. This projection is applicable for different market sectors.The three major application sectors, among them are considered to be commercial, residential and public infrastructure. The residential sector itself is expected to surpass $34 billion US Dollars by the end of year 2020 and have a CAGR in excess of 53% during that projection period. China emerged as one of the largest countries in the market for encouraging and using smart lighting within the residential sector in the year 2015. Some of the reasons for this phenomenon can be attributed to the growing population of China that has in effect increased the use of LED lights. This has resulted in a sharp increase in the market growth. The government of China has encouraged the use of LED lights in a big way and left no stone unturned to promote the usage of LED lights. The government offered many grants on LED lighting by reducing the prices and this has encouraged the public to shift to LED lighting.

The public infrastructure application sector too looks promising as it is forecasted that this sector would surpass $8 billion US Dollars by the year 2020. This means that the increase is more than 30 percent at CAGR within the projection period. Most of the public corporations and city planners all over the world have started realizing the plans for new LED outdoor lighting. The plan is to install new LED street lights and also to renovate the existing lighting systems by replacing them with LED lights. Most of the countries all over the world are also looking at the possibility of effective implementation of smart lighting within the public infrastructures. They are looking at the feasibility of installing the LED lights at all public places, including airports, railway stations, bus stations, roads, subway stations, metro stations and many other areas. People now are even considering the option of installation of LED strip lights not only in different organizations but also at homes. Especially the residential sector is increasingly showing interest in this kind of lighting as it is considered to enhance the interior design of the house too. Strip Lights, which are also known as LED Tape or Ribbon help the customers to add great lighting both at the workplace and home. The LED strip lights can come in a single color or can come as color transforming strips that are used to create attractive and realistic light in the home.

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