In specific application fields such as roads, bridges, tunnels, airports and other public transportation infrastructures, outdoor LED lighting products are accelerating the replacement of traditional lighting products, and the demand for replacement of the stock market and the incremental market for new projects is increasing. Therefore, the outdoor LED drive power industry also has a good market demand development space. Data show that in 2018, the output value of China's outdoor LED functional lighting drive power supply reached 6.2 billion RMB, an increase of 21.6% year-on-year, and the average annual compound growth rate from 2015 to 2018 was 23.4%.

Smart cities promote market growth

LED street lights are the field with the highest proportion of outdoor LED lighting applications. Due to the relatively late start of large-scale application in the industry, the current market penetration rate is still at a relatively low level. With the acceleration of the construction of smart cities and 5G networks, the construction of smart light pole projects is in an accelerated implementation stage, and it is expected to become a rapid growth point for LED lighting and its supporting industries in the future. At present, many major provinces and cities across the country have issued plans or supporting policies to accelerate the implementation of smart light pole projects.

Chip and technology upgrade, further stimulating market demand

With the improvement of LED chip and driving power technology in recent years, the technical performance and economic cost performance of LED street lights are continuously improving. Combined with the characteristics of LEDs that are very suitable for intelligent control, their market applications in inventory transformation and new projects will be further improved. Speed ??up the market demand for supporting medium and high power LED drive power products.