According to the report released by the Mordor Intelligence research company, the smart lighting market reached $14.24 billion in 2019. By 2025, the market is expected to reach $58.64 billion, growing by 27.1 percent each year.
An Engineering Economy Study on Cost-Benefit Analysis of Street Lighting Transformation
Traditional street lights are used for decades in Turkey. These are planned to be converted with LED luminaires. Within the scope of this study, a 5-year cost benefit analysis of the street lighting transformation was performed, and it was concluded that the present value of the benefit is greater than the present value of the cost.
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