Global Connected (Smart) Street Light Market was valued US$ XX Bn in 2018 and is expected to reach XX Bn by 2026, at a CAGR of 21.10 % during a forecast period.
Smart lighting is transforming the way cities and also save energy and cost over simple LEDs.
Smart street lights help to monitor traffic flow, parking, pedestrian crossings, seismic activity, or atmospheric changes. With the help of connected (smart) street light, cities can enhance operational efficiency, rise citizen satisfaction, and decrease costs.
Smart street lights are expected to contribute to more livable cities by helping to improve safety and reduce congestion, which is expected to drive the growth in the global connected (smart) street light market. Smart street lights more resourcefully manage electricity, leading to cost savings compared to simple LED luminaires that are expected to increase the demand for connected (smart) street light. Additionally, in the global connected (smart) street light market, the smart street lights also open up new revenue opportunities like leasing poles for digital signs and other services.
On the other hand, high initial setup cost associated with the installation of smart street lighting is hindering the growth of the global connected or smart light market.
Video monitoring can benefit cities better understand traffic and pedestrian patterns, which make adjustments and route emergency-response vehicles around congested areas. Street light sensors can deliver information about available parking in densely populated areas and also monitor vehicles for parking violations short of sending personnel out on the street.
Street lights with video cameras can help police in solving crimes after they happen and prevent new crimes from occurring. With the help of sound sensors, police can determine specific information like gunshots, which can rapidly secure an area. The Atlanta, Georgia, has reduced crime by 28 percent through the usage of smart street lights.
Region-wise, the Europe region is estimated to contribute to the significant growth in the global connected (smart) street light market. The U.K, Germany, Norway, and France are some of the t the leading countries in the connected (smart) street light market. The significant growth in the market is attributed to a rapidly growing adoption of connected lights in electric vehicles, which in turn is expected to increase the demand for street lighting during the forecast period. Furthermore, North America is expected to grow at a XX % rate of CAGR during the forecast period. The growth is accredited to the increased investment to boost wireless technology for providing smart parking and related solutions in the urban sectors.
The development of smart cities is one of the key trends in the global connected (smart) street light market, which influences growth. An increase in the number of smart cities across the globe has raised the demand for smart connected devices. The network of smart street lights advanced on a scalable platform, which increases road safety and reduces the chances of accidents. Some of the key players in the market are partnering with regional governments to build smart cities.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding dynamics, structure by analysing the market segments and, project the global connected (smart) street light market. The report also provides a clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global connected (smart) street light market. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders in arranging the efforts and investment in the near future to a particular market segment.
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The Scope of the Report for Global Connected (Smart) Street Light Market
Global Connected (Smart) Street Light Market, By Component
o Light Source
o Drivers & Ballast
Global Connected (Smart) Street Light Market, By Networking Technology
• Medium band
Global Connected (Smart) Street Light Market, By Application
• Traffic Monitoring
• Environmental Monitoring
• Video Surveillance
Global Connected (Smart) Street Light Market, By Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in Global Connected (Smart) Street Light Market
• OSRAM Licht Group
• Acuity Brands Lighting Inc.
• Schreder Group
• Twilight Citelum S.A.
• Echelon Corporation
• EnGo PLANET
• Telensa Ltd.
• Toshiba Lighting
• Philips Lighting N.V
• Dimonoff Inc.,
• Silver Springs Network Inc.
• Hubbell Lighting, Inc.
• GE Lighting, LLC
• Flashnet SRL
• Royal Philips NV
• Acuity Brands Lighting, Inc.
• Eaton Corporation
• Schneider Electric S.E
• Honeywell International
• General Electric Co
• Lutron Electronics
• CREE, INC.
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