Smart Street Lights Market Research Report by Forecast to 2023
Posted: Dec 06, 2018
Smart or connected street lights are revolutionizing the modern infrastructure. Emerging economies such as India and Brazil lack the much-needed infrastructure for providing mains (electric-grid based) electricity to cellular-connected street lights. Furthermore, the installation cost of electric-grid based street light is often high, which has persuaded the major economies to promote, implement, and explore the connected solar-powered street-lights. The adoption of solar powered street-lights is emerging at a rapid pace due to their cost-efficiency and their ability to operate at low-power. With the advent of technology, the solar-powered LED lights also help to monitor and control the flow of electricity connected through Mobile IoT and mobile networks. The streetlights can be remotely monitored and controlled with the help of connected networks. Countries such as India and China in the Asia Pacific region, along with African countries are heavily investing in solar streetlights. European countries such as U.K and Germany are also implementing the solar-powered lighting which is economical considering their low-power dependency which makes them suitable even for adverse climatic conditions.
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Increasing demand for energy-efficient LED lights, emergence of the Internet of things, and constant innovation in mobile networks are some of the major factors driving the growth of smart/connected streetlights market over the forecast period. On the flipside, the data privacy and concerns related to tower radiations are presumed to hinder the growth of the market over the next few years.
The global Smart Street Lights Market is expected to reach approximately USD 12,404.1 Million by 2023 growing at a 22% CAGR over the forecast period 2017-2023
- General Electric (U.S.)
- Koninklijke Philips N.V (The Netherlands)
- Telensa (U.K.)
- Silver Spring (U.S.)
- Echelon (U.S.)
- Osram AG (Germany)
- Cisco system (U.S.)
- Trilliant holdings Inc. (U.S.)
- AxiomTek (U.S.)
- Tech Mahindra (India)
The smart/connected street lights market is differentiated by components, technology, applications, and end-users
By component, the smart/connected street lights market is sub-segmented as hardware, software, and services. The hardware comprised of LED arrays, sensors, a communication module, and others. The services segment is categorized into professional services and managed services. The professional services include system integrations, training & implementation, and others.
Depending on the networking technology, the market is sub-segmented into narrowband, medium-band, and broadband technology. The narrow-band technology is further categorized into Sigfox, LoRa, RPMA, and others. The medium band includes PLC, RF mesh, and others, whereas the broadband technology consists of 3G/4G cellular, Wi-Fi, and others.
On the basis of applications, the market is categorized as environmental monitoring, traffic monitoring, smart parking, street light management, video surveillance, public messaging and others. Lastly, on the basis of end-users, the market is categorized as residential (urban and rural), retail, transportation, automotive, industrial and others.
Geographically, the smart/connected street lights market is segmented into four different regions namely North America, Asia Pacific, Europe, and the Rest of the World.
Europe is presumed to have significant growth in the smart/connected street lights market. Countries such as U.K, Germany, Norway, and France are the leading countries in the market. Their growth is attributed to rapidly increasing adoption of connected lights in electric vehicles, which in-turn is expected to increase the demand for street lighting market over the forecast period. Additionally, North America is expected to have significant growth in the market with the U.S & Canada being the leading countries in the region. The growth is due to increased investment to boost wireless technology for providing smart parking and related solutions in the urban sectors.
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