With increasing energy wastage and growing environmental degradation, high energy-efficiency is rapidly becoming the need of the hour. The burgeoning demand for greater energy efficiency is boosting the requirement for ambient lighting. Moreover, the governments and regulatory authorities in several countries are implementing strict policies regarding the efficiency of lighting devices. For example, as per the U.S. Department of Energy, the U.S. Energy Standard for Buildings is a critical parameter for both residential and commercial building designs and related devices.
Additionally, this standard is a national model code for commercial buildings. As per many reports, such model energy codes for commercial and residential buildings are predicted to save as much as $126 billion in power costs and reduce nearly 841 million metric tonnes (MMT) of carbon dioxideemissions. Energy-efficiency is also becoming a priority focus area for the governments of developing nations such as China, which is witnessing a huge growth in its population and energy consumption levels.
Browse detailed report - Ambient Lighting Market Analysis and Demand Forecast Report
In recent years, China has become one of the largest consumers of energy in the world, accounting for almost 14% of the total power consumption across the globe. As a result, the country launched some specific programs under its Development Plan for LED Lighting Industry in 2017 for promoting the usage of LED lighting devices in the country. These systems are predicted to push up energy savings and steer the country toward a path of sustainable growth.
Another factor fueling the demand for ambient lighting is the rising adoption of smart lighting solutions in many countries around the world. The growing requirement for higher energy-efficiency and energy savings has fueled the surging installation of LEDs in industrial facilities. Furthermore, the rising focus of people on reducing their energy expenditure has boosted the adoption of LEDs in residential buildings. In fact, in the last few years, many residential buildings across the world have witnessed mass installation of LEDs.
