Growth of the Solar Lighting System Market in the Next 5 years

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MarketsandMarkets Presents

Growth of the Solar Lighting System Market in the
Next 5 years Solar Lighting System Market by
Offering (Hardware and Software Services),
Light Source (LED and Others), Grid Type (On Grid
and Off Grid), Application (Highways Roadways,
Industrial, and Commercial), and Geography -
Global Forecast to 2024 https//www.marketsandmar
kets.com/Market-Reports/solar-lighting-system-mark
et-207347790.html
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The solar lighting system market is projected to
reach USD 10.8 billion by 2024 from USD 5.2
billion in 2019, at a CAGR of 15.6. Major
drivers for the growth of the market are growing
need for energy-efficient solar lighting systems
for highways, increasing use of renewable energy
for lighting, rising penetration and decreasing
cost of LEDs, and growing demand from developing
and emerging countries. Furthermore, underlying
opportunities for this market include a decline
in the cost of solar lighting systems, favorable
government initiatives, and enhancement in
technological aspects of a solar lighting
system. Browse 61 market data Tables and 36
Figures spread through 131 Pages and in-depth TOC
on "Solar Lighting System Market - Global
Forecast to 2024"
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Based on application, commercial to hold largest
share of solar lighting system market during
forecast period The solar lighting market, by
application, is segmented into highways
roadways, industrial, commercial, residential,
and other subsegments. Commercial application is
expected to hold the largest share of the solar
lighting system market during the forecast
period. Solar lighting systems are installed in
commercial areas such as corporate offices,
schools, and universities. Commercial spaces need
indoor lighting for lighting up cellars,
corridors, basements, and outdoor lighting for
illuminating pathways and perimeters, among
others. Solar lighting systems installed at these
places help in decreasing energy and maintenance
costs. Ask PDF Brochure https//www.marketsandma
rkets.com/pdfdownloadNew.asp?id207347790 Off-gri
d to be major shareholder grid type in solar
lighting system market in coming years Off-grid
solar power systems are standalone systems that
are independent of any electric grids. These
systems are used to collect and store solar
energy, which is converted to electricity when
required. In various developing countries, such
as Indonesia, Bangladesh, India, Tanzania,
Ethiopia, Cambodia, and Kenya, there is a high
degree of dependency on off-grid systems.
Governments across these countries are
encouraging the installation and deployment of
off-grid solar lighting systems.
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APAC to account for the largest market size of
solar lighting system during forecast period APAC
is a potential market for solar lighting systems
with enormous opportunities for the development
and implementation of new technologies. Countries
such as China, Japan, India, South Korea, and
Australia are taking initiatives toward the
deployment of solar lighting systems. China is
the biggest market in APAC for the implementation
of solar lighting system solutions. Surging
urbanization in developing countries in this
region has been leading to the rise in the demand
for energy. This consequently drives the demand
for solar streetlights in this region.
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• Key Market Players
• Signify Holding (Signify, Netherlands), Eaton
  Corporation Inc (Eaton, Ireland), Solar Electric
  Power Company (SEPCO, US), Sol Inc., (Sol by
  Carmanah, US), Su-Kam Power Systems Ltd. (Su-Kam,
  India), Clear Blue Technologies Inc (Clear Blue
  Technologies, Canada), SunMaster Solar Lighting
  Co.,Ltd. (SunMaster, China), SolarOne Solutions,
  Inc. (SolarOne, US), Solar Street Lights USA
  (Solar Street Lights, US), Solar Lighting
  International, Inc. (Solar Lighting, US), FlexSol
  Solutions B.V. (FlexSol Solutions, Netherlands), 
  Azuri Technologies Ltd (Azuri, Kenya), Sunna
  Design (France), Nokero (US), and Solektra
  International (Africa) are a few major players in
  the solar lighting system market.
• Request Free Sample Pages
• https//www.marketsandmarkets.com/requestsampleNew
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• Recent Developments
• In April 2018, SEPCO partnered with a local
  property management company at Gardens of
  Woodberry, Georgia, US, to provide lighting along
  walkways and streetlights in areas that were
  difficult to bring traditional power. The
  residential area was also installed with
  electrical lights along with most parts of the
  roadway, but many dark areas need to be
  addressed.
• In March 2018, Signify (Philips Lighting)
  launched Philips SunStay, a solar streetlight
  that combines solar panel, battery, and light in
  one housing, and Philips LifeLight, a solar
  lantern that comes with a replaceable battery.
  With the launch of these products in India, the
  company is accelerating a strategic push into
  solar-powered lighting.

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