The new report by Expert Market Research titled, ‘Global Connected (Smart) Street Light Market Share, Size, Growth, Trends, Analysis, Report and Forecast 2023-2028’, gives an in-depth analysis of the global connected (smart) street light market, assessing the market based on its segments like connectivity, component, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 27%
The global connected (smart) street light industry is being driven by the rising world’s population and the rising number of people living in urban cities. Furthermore, due to rapid urbanisation there is an increase in number of connected streetlights.
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Moreover, smart streetlighting solutions are quickly replacing traditional street lighting solutions across various economies, owing to their numerous features such as remote control and scheduling, GPS integration for easy asset management, flexible dimming controls, revenue-grade energy metering, asset management, health monitoring, fault-tolerant, reduce light pollution.
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Connected (Smart) Street Light Industry Definition and Major Segments
Smart road lights are used to dim and brighten automatically in response to changes in the weather, vehicle crossing, and pedestrian and animal passing. Through embedded cameras and sound detectors, these lights are capable of assessing air pollution concentrations, warning to excessive air toxicity, monitoring traffic, and reducing crime rates.
The connected (smart) street light market, on the basis of connectivity, can be segmented into:
On the basis of component, the market can be segmented into:
Among these, hardware can be further sub-divided into the light source, drivers and ballast, sensor, switches, and controllers. The light source can be subdivided into LED lamps, sodium vapour lamps, and others.
The regional markets include:
- North America
- Asia Pacific
- Latin America
- Middle East an
Connected (Smart) Street Light Market Trends
The emergence of smart cities around the world has boosted demand for smart linked products, such as intelligent road lamps. Several market vendors are collaborating with regional governments to build smart cities.
Moreover, the market players in the connected (smart) street light are also attracting attention to the growing awareness of energy conservation and effective lighting systems. Furthermore, the market is projected to expand due to the increased use of sensors and wireless systems in smart lighting in the coming years.
Key Market Players
The major players in the market are Cisco Systems, Inc., Citelum, DimOnoff Inc., Echelon, EnGo Planet, General Electric Company, Philips Lighting (Signify Holding), LED Roadway Lighting Ltd., LonMark International and Others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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