A recent market intelligence report that is published by Data Insights Partner on the global Connected Street Light Market makes an offering of in-depth analysis of segments and sub-segments in the regional and international Connected Street Light Market. The research also emphasizes on the impact of restraints, drivers, and macro indicators on the regional and global Connected Street Light Market over the short as well as long period of time. A detailed presentation of forecast, trends, and dollar values of global Connected Street Light Market is offered. In accordance with the report, the global Connected Street Light Market is projected to expand at a CAGR of 21.39% over the period of forecast.
Market Insight, Drivers, Restraints& Opportunity of the Market:
The connected (smart) street light system establishes the connection between components through reliable and secured wired or wireless network enabling two way communication for monitoring and controlling functions. Connected (smart) street light system consists of electronic components, light fittings, energy storage equipment’s, and network devices for communication. These systems provides very high energy efficiency & better control by plummeting the power consumption in the lighting applications. Moreover, control system allows operators to control luminance intensities of lighting as per the ambiance, intensity of the daylight, and others such as occupancy, and physical presence.
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Growing awareness about energy-efficient street light models is primarily fueling the growth of the connected (smart) street light system. As the electricity prices continue to rise, more and more government organizations are switching over to connected (smart) street lights to reduce operational costs while improving safety and efficiency. Energy efficiency has been the major cause associated with the electricity usage, especially in mature markets such as Europe and North America. Many regulations have been imposed to phasing out older technologies. EU has passed regulation to phase out less efficient halogen spotlights from 2018.This has led to growing adoption of LEDs thus paving way to more efficient connected (smart) street light system.
The consumption of power and CO2 emission of street lights are limited to a minimum as the connected (smart) street lights are switched-on automatically when they are “needed” and adjusts the brightness of the illumination based on time of day by means of integrated photo sensors.
The impact of this driver in the short term is high and is expected to stabilize over the long term. This is largely due to high demand for energy-efficient systems and various existing government regulations mandating production as per industry standards. The governments of different countries are imposing stringent regulations to protect the environment and to stabilize the greenhouse gas levels in the atmosphere
Ø For instance, 83 signatories and 192 member countries such as the U.S., Australia, Canada, Brazil, the European Union, and Japan have signed the Kyoto Protocol to attain harmful emission reduction targets, and promote energy-efficient solutions.
The increasing use of electricity across the residential, commercial, and industrial sectors has led to a rise in the operational and maintenance cost of lighting controls.
Moreover data transmitted through connected system will report irregular lamp behavior, individual lamp failure when it occurs, which lessens the routine maintenance inspections of lighting control and saving lot of operational and maintenance costs. The impact of this driver is expected to be moderate in connected (smart) street light system for short, medium, and long term.
Poor infrastructure in developing economies is the major restraint in connected (smart) street light market. This is mainly due to low network infrastructure, less internet penetration which leads to less bandwidth availability. As large number of developing countries are still using traditional lamps so shifting to connected (smart) street light will be costly due to high costs involved in procurement and retrofitting old street lamps.
The impact of cost is anticipated to be high on the connected (smart) street light market in the short-term and expected to reduce over the long term. This is largely due to the increased government spending to boost its infrastructure. Rising growth of light emitting diodes (LED), the rapid growth of street lighting systems, lighting in commercial modernization, and the expansion of this technology in smart cities are expected to provide significant opportunities for the connected (smart) street light market. New wireless technologies such as Li-Fi are being deployed in the connected street lights of Dubai (UAE). It uses light to connect with devices and speed of system is expected to reach 224 GB/second. Due to its high data transfer speed and efficiency, large number of vendors are expected to integrate such technologies into their system to maintain competitive edge.
The integration of street lighting systems with traffic signals, parking-lot lights, pollution sensors, energy meters, and traffic sensors is providing significant opportunities for smart lighting and control systems, especially in emerging economies. This can further decrease energy consumption as well as improve the performance of other systems and functions in an urban region. Emerging economies such as the Asia Pacific, Latin America, Middle East, and Africa are expected to fuel the growth of the connected (smart) street light market. This is primarily due to the rising emphasis on the conservation and optimization of energy and reducing CO2 emissions. At present, these economies see a lot of potential in the deployment of smart lighting systems in smart city projects. This is the result of growing awareness and penetration of connected (smart) street lights.
This market intelligence report on the global Connected Street Light Market encompasses market segments based on connectivity, component and country.
In terms of connectivity, the Connected Street Light Market is segregated into:
By component, the global Connected Street Light Market is also classified into:
By country/region, the global Connected Street Light Market has been divided into:
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Profiling of Market Players:
This business intelligence report offers profiling of reputed companies that are operating in the market. Companies such as:
Others players have been profiled into detail so as to offer a glimpse of the market leaders. Moreover, parameters such as Connected Street Light related investment & spending and developments by major players of the market are tracked in this global report.
In-depth analysis of the micro and macro indicators, market trends, and forecasts of demand is offered by this business intelligence report. Furthermore, the report offers a vivid picture of the factors that are steering and restraining the growth of this market across all geographical segments. In addition to that, Growth Matrix analysis is also provided in the report so as to share insight of the investment areas that new or existing market players can take into consideration. Various analytical tools such as DRO analysis, Porter's five forces analysis has been used in this report to present a clear picture of the market. The study focuses on the present market trends and provides market forecast from the year 2017-2027. Emerging trends that would shape the market demand in the years to come have been highlighted in this report. A competitive analysis in each of the geographical segments gives an insight into market share of the global players.
Ø This study offers comprehensive yet detailed analysis of the Connected Street Light Market, size of the market (US$ Mn), and Compound Annual Growth Rate (CAGR (%)) for the period of forecast: 2019 – 2027, taking into account 2018 as the base year
Ø It explains upcoming revenue opportunities across various market segments and attractive matrix of investment proposition for the said market
Ø This market intelligence report also offers pivotal insights about various market opportunities, restraints, drivers, launch of new products, competitive market strategies of leading market players, emerging market trends, and regional outlook
Ø Profiling of key market players in the world Connected Street Light Market is done by taking into account various parameters such as company strategies, distribution strategies, product portfolio, financial performance, key developments, geographical presence, and company overview
Ø Leading market players covered this report comprise names such as Silver Spring Network, Transdata, Telensa among others
Ø The data of this report would allow management authorities and marketers of companies alike to take informed decision when it comes to launch of products, government initiatives, marketing tactics and expansion, and technical up gradation
Ø The world market for Connected Street Light caters to the needs of various stakeholders pertaining to this industry, namely suppliers, manufacturers, investors, and distributors for Connected Street Light Market. The research also caters to the rising needs of consulting and research firms, financial analysts, and new market entrants
Ø Research methodologies that have been adopted for the purpose of this study have been clearly elaborated so as to facilitate better understanding of the reports
Ø Reports have been made based on the guidelines as mandated by General Data Protection Regulation
Ø Ample number of examples and case studies have been taken into consideration before coming to a conclusion
Reasons to buy:
v Identify opportunities and plan strategies by having a strong understanding of the investment opportunities in the Connected Street Light Market
v Identification of key factors driving investment opportunities in the Connected Street Light Market
v Facilitate decision-making based on strong historic and forecast data
v Position yourself to gain the maximum advantage of the industry’s growth potential
v Develop strategies based on the latest regulatory events
v Identify key partners and business development avenues
v Respond to your competitors’ business structure, strategy and prospects
v Identify key strengths and weaknesses of important market participants
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