Future of Global Connected (Smart) Street Lights Market Along with Key Drivers, Major Manufactures, Business Insights, Trends and Forecast 2024
Our latest research report entitled Connected (Smart) Street Lights Market (by connectivity (wired and wireless) and component (hardware, software and services)) provides complete and deep insights into the market dynamics and growth of Connected (Smart) Street Lights. Latest information on market risks, industry chain structure Connected (Smart) Street Lights cost structure and opportunities are offered in this report. The past, present and forecast market information will lead to investment feasibility by studying the essential Connected (Smart) Street Lights growth factors.
The forecast Connected (Smart) Street Lights Market information is based on the present market situation, growth opportunities, development factors, and opinion of the industry experts. An in-depth analysis of the company profiles, Connected (Smart) Street Lights on global and regional level and applications is conducted. The analysis of downstream buyers, sales channel, raw materials, and industry verticals is offered in this report. According to report the global connected (smart) street lights market is projected to grow at a CAGR of 16.5% over the forecast period of 2018-2024.
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Connected (Smart) Street Lights Market: Insights
Connected or smart street light is the intelligent street lightning system that adjusts automatically based on the real time traffic conditions and change according to realistic condition. The conventional street light is one of the major source of electricity consumption owing to the continuous operation of lighting during the night time, thus in order to reduce the unnecessary electricity consumption, the existing conventional system has to be adapted to intelligent lighting system. This smart street lights consists of IR sensor, PIR sensor, low cost embedded controller and memory devices.
Connected (Smart) Street Lights Market: Drivers, Restraints and Opportunities
The growing trend of development of smart cities drives the growth of connected street lights market. The smart street light to be used in smart cities will not help in improving lighting efficiency but also help to help cities monitor and respond to any circumstance, from traffic and air quality to crowds and noise. In addition, the connected street lights offers various benefits over the conventional street lights such as better energy saving, improved operational efficiency, low maintenance cost and reduce carbon emission are some of the reasons that are likely to boost the demand of connected street light market. This smart lightning reduces energy costs up to 35% through intelligent ON/OFF switching and targeted progressive dimming. Also, initiatives taken by utility companies and government institutions to adopt to smart lightning technologies in order to save energy and reduce carbon emission is supporting to grow the market.
The smart lighting moderates the Maintenance activity as the detail analysis of defects and the necessary materials are received with the real time network mapping. However, high initial setup cost associated with installation of the smart street lighting is hampering the growth of connected or smart light market. Moreover, the rising projects of smart cities across all over the globe is expected to fuel the smart street lightning market over the forecast period. The ongoing technological advancements in the smart street lighting such as developments in the wireless and the internet of things (IoT) technologies is projected to create the several opportunities in the smart street lightning.
Connected (Smart) Street Lights Market: Regional Insights
Geographically, Europe holds the largest market share in the smart street lighting followed by North America. The various companies and the government agencies in the U.K are focusing on the smart street lighting solutions due to the estimated advantages of smart street lightning which in turn reduces the energy consumption and it is also beneficial for the economy in this region. Asia Pacific is the fastest growing region in the smart lightning market owing to the demand of energy efficient solution and the growing construction industries in this region.
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Connected (Smart) Street Lights Market: Segmentation
The report on global connected (smart) street lights market covers segments such as, connectivity and component. On the basis of connectivity the global connected (smart) street lights market is categorized into wired and wireless. On the basis of component the global connected (smart) street lights market is categorized into hardware, software and services.
Connected (Smart) Street Lights Market: Competitive Landscape
The report provides profiles of the companies in the global connected (smart) street lights market such as, EnGo PLANET, Telensa Ltd., Toshiba Lighting, Philips Lighting N.V, OSRAM Licht Group, OSRAM Licht Group, Acuity Brands Lighting Inc., Schreder Group, Twilight Citelum S.A. and Dimonoff Inc.,.
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