The size and share of Connected (Smart) Street Lights Market, is currently valued at 250 Million USD and is expected to reach a value of 1125 Million USD by 2024 and is expected to grow at a CAGR of 28.5% during the forecast period 2019 - 2024.
Connected (Smart) Street Lights are intelligent technology in the lighting system industry. They adjust automatically based on real-time road conditions and change according to realistic conditions. A bulk of presently deployed lighting devices are focused on traditional lighting technologies. Increasing awareness of energy conservation and efficient lighting techniques, however, is attracting attention from players operating in the connected street light market. Moreover, the industry is being fueled by the growth of cameras and wireless systems in the sector of smart lighting. The industry is experiencing growth as a supply for greener approaches that would promote sustainable development around the world is rising.
Market Growth Drivers
The increasing awareness about the conservation of energy and efficient lighting techniques is gaining the attention of players operating in the global connected (smart) street light market, which is resulting in the growth of the market.
The development of sensors and wireless technologies in the field of smart lighting coupled with the rise in the demand for greener strategies that would support sustainable development worldwide is anticipated to fuel the global connected (smart) street lights market. Moreover, one of the factors that are propelling connected street lights market is the advancements of the sensors and wireless technologies in the field of smart lighting.
Also, the growing trend of rising in the smart cities, around the globe coupled with the initiatives taken by utility companies and government institutions of various countries to adopt to smart lighting technologies in order to save energy and reduce carbon emission is driving the growth of global connected street lights business. The rise in the demand for the greener strategies that would support sustainable development worldwide is also estimated to propel the target market extension.
However, the connected (smart) street light market faces challenges in terms of poor infrastructure in developing economies owing to the underdeveloped network infrastructure and low internet penetration, which leads to low bandwidth availability in the underdeveloped countries.
Increasing adoption of light-emitting diodes (LEDs), rising trend of street lighting systems tremendously, the lighting in commercial setups and high penetration of connected street light technology in smart cities are expected to provide lucrative opportunities to the global connected (smart) street light market in the near future.
Market Size Available
2018 – 2024
2019 - 2024
By Component, Application & Region
Various Analyses Covered
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities
North America, Europe, APAC, Latin America, Middle East & Africa
Market Leaders Profiled
Signify, Itron, Telensa, Echelon Corp, Rongwen, Current- powered by GE, DimOnOff, Flashnet, Sensus, GridComm.
This Research Report Includes the Segmentation & Sub-Segmentation of the Connected (Smart) Street Lights Market with Size & Forecast until 2024.
Connected (Smart) Street Lights Market - By Component
Based on the component, the market has been classified into hardware, software, and services. Furthermore, the hardware segment has been sub-classified into the light source, drivers & bal-lasts, sensors, switches, controllers, and others. The hardware segment accounted for a dominant portion in the global market and is likely to continue with a notable growth rate in the coming years.
Connected (Smart) Street Lights Market - By Connectivity
In terms of connectivity, the market has been divided into wired and wireless, where the wireless segment holds a significant share of the global connected (smart) street light market. It is also ex-pected to continue its dominance during the outlook period due to the introduction of new wireless technologies such as Li-Fi.
Connected (Smart) Street Lights Market - By Application
Connected (Smart) Street Lights Market - By Region
Geographically, Europe holds the largest market share in smart street lighting followed by North America. Due to the projected benefits of intelligent road painting, which in fact decreases power usage and is also useful to the industry in this area, the numerous businesses and public departments in the U.K. are concentrating on intelligent road painting alternatives. Due to the requirement for energy-efficient alternative and increasing building sectors in this area, Asia Pacific is the highest increasing area in the intelligent flash industry.
Advantages of Using Connected Street Lights Over Conventional Ones:
In recent years, technological advances have certainly increased the global requirement for connected (smart) street lights. It has increased road lamps ' ability, which is more effective than standard road lamps. The constant supply for sustainable lighting alternatives has resulted in an important development in connected (smart) street lights across countries in both advanced and emerging areas. Moreover, the growth of smart cities across countries around the globe has compelled states and businesses to look forward to alternatives for smart lighting.
Some of the Key Market Players Profiled in the Research Report are:
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1.8 Y-o-Y Growth Analysis, By Component
5.1.9 Market Attractiveness Analysis, By Component
5.1.10 Market Share Analysis, By Component
5.2.2 Traffic Monitoring
5.2.3 Video Surveillance
5.2.4 Other Applications
5.2.5 Y-o-Y Growth Analysis, By Applications
5.2.6 Market Attractiveness Analysis, By Applications
5.2.7 Market Share Analysis, By Applications
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
188.8.131.52 By Geographical Area
184.108.40.206 By Component
220.127.116.11 By Application
6.1.4 Market Attractiveness Analysis
18.104.22.168 By Geographical Area
22.214.171.124 By Component
126.96.36.199 By Applications
6.1.5 Market Share Analysis
188.8.131.52 By Geographical Area
184.108.40.206 By Component
220.127.116.11 By Application
6.2 North America
6.1.2 United States
6.3.6 South Korea
6.5 Latin America
6.4.5 Rest of Latin America
6.6 Middle East & Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.4 Echelon Corp
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures