LONDON--(BUSINESS WIRE)--A latest market research report on the LED lighting market in Brazil from Technavio unvealed the most important factors that has the potential to impact the market prospect from 2017-2021. Technavio defines an emerging trend as a factor expected to expressively impact the market and contribute to its growth or decline.
The top three emerging market trends impacting the LED lighting market in Brazil as per Technavio research
* Growing urban population and households
* Emergence of smart cities
* Emergence of smart lighting
Growing urban population and households
Growing urbanization in Brazil is causing increasing demand for LED lighting products to fit to the rising number of households. In Brazil, since the major revenue contributor in the LED general lighting market has been the residential sector, the growth of the residential sector will positively impact the market. The commercial sector in Brazil is also increasing fast, which has led to rapid urbanization in many areas of Brazil such as São Paulo and Rio de Janeiro.
In order to meet the needs of the growing population,the Brazilian government is investing in large-scale urban infrastructure projects. For example, in 2016, the Brazilian government announced a concession of 34 infrastructure projects that will be awarded to the private sector. As LED are more efficient than traditional lighting sources, big amount of LED lighting sources will be required by these projects.
Emergence of smart cities
A smart city incorporates the combination of information and communication technology (ICT) and IoT technologyin a secure way to manage a city's assets. Smart cities can transform the work and life of its residents, both socially and economically. The Brazilian government is investing in technologies such as smart street lighting, smart grids, climate action plans, water management,smart parking and urban mobility to achieve this goal.
Some cities in Brazil have conducted or have begun the development of smart city projects that would be deployed in the near future. Some of the noteworthy examples of cities undertaking such projects are Brasilia, Rio de Janeiro, Curitiba and São Paulo. In many of the cases, smart technologies are being used to transform the existing cities.
Emergence of smart lighting
Smart lighting can save power by controlling the lighting, heating and cooling. It also helps control
the appliances remotely. It determines when exactly a light should be switched on or off and this helps reduce electricity expenses. Different smart lighting networks do diverse things, but some of the popular features of smart lights include change color under some conditions or switching on when someone enters a room. Smart lighting network does all the work automatically, and programming of the lights can be done to respond to the users' commands.
Raghu says that the adoption of LEDs can bring significant energy savings, as well as new opportunities for conbinaiton with smart and IoT initiatives. The growing inclination toward smart lighting in Brazil is motivating vendors to establish strategic partnerships and to develop a smart lighting ecosystem in Brazil. In 2017, Gooee, a smart lighting startup, cooperated with a Brazilian LED lighting solution provider to explore the opportunities
of IoT technology in LED lighting.
Source: BusinessWire, Top 3 Trends Impacting the LED Lighting Market in Brazil 2017-2021