Increasing demand for energy-efficient LED lights, the emergence of the IoT, and constant innovation in mobile networks will take the global smart street lighting market to new heights
Published | 06 August 2019
Smart Street lighting Systems are environment-friendly and diminish the emission of greenhouse gases. Another factor anticipated to positively impact market growth is low cost, increasing adoption of LEDs and growing awareness among people about saving energy.
According
to BlueWeave Consulting, the Global Smart Street lighting Market is projected
to exhibit significant growth during 2019-2025.
Owing to the emergence of smart cities, a rise in adoption of Internet
of Things smart devices, adoption of Li-Fi networked communication technology
and growing support from the governments of several countries across the globe.
Government initiatives like subsidies and discounts for the adoption of solar
lighting help improve the living conditions of individuals. Moreover,
advancements like cloud-based lighting controls will assist in remotely
controlling lights and also analyze lighting issues. The ongoing technological advancements in the smart street
lighting like developments in the wireless and the internet of things (IoT)
technologies is estimated to create several opportunities in the smart street
lighting. The streetlights can be
remotely supervised and controlled with the help of connected networks.
Countries such as India and China along with African countries are heavily
investing in solar streetlights.
Among communication technology, Wireless
technology segment holds the largest market share of the global smart street
lighting market during the forecast period
Based on the communication technology,
Wireless technology segment is the leading segment of the entire smart street
lighting market during the forecast period 2019-2025. Adoption of new
technological attributes like Li-Fi has emerged as a potential growth trigger
in recent years. With rising advances in developing sustainable street light
infrastructure in developed as well as developing economies, international
players are inclined towards facilitating new production houses across these
regions besides investing in supply chain management. With the development of
the Internet of Things, there’s now a much better way. A wireless cellular
modem on each light pole can be designed to support low or high data
throughput, depending on the application. Though rising adoption &
declining price of LEDs, intelligent solutions need for energy-efficient
lighting systems, and high penetration of connected street light technology in
smart cities is projected to provide vital opportunities to the smart street
light market in the near future.
Currently, the LED
lighting technology segment accounts for the maximum street lighting market
share and will continue its market dominance over the next few years as well.
Advantages like low wattage, long life span, high efficiency, brightness, and
energy-saving abilities will drive the need for LED lighting systems, driving
market growth in this segment.
Europe accounts for the lion’s share of
the global smart street lighting market during the forecast period
Geographically, the smart street market is analyzed across
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
Europe is the leading region of the overall smart street market followed by
North America. Countries like U.K, Germany, Norway, and France are the leading
countries in the market, primarily on account of the early adoption of
connected street lights and initiatives taken by the government agencies of the
region. The Asia Pacific is the fastest growing region due to increasing the
adoption of an energy-efficient lighting system and rising government
expenditure on public infrastructure.
Global Smart Street Lighting Market:
Competitive Landscape
Companies such as Signify N.V., Huawei Technologies Co.,
Citelium S.A, Echelon Corporation, Koninklijke Philips N.V, Osram AG, Cisco
System Inc., Triliant Holdings Inc., Hubbell Lighting, Telensa Ltd., Twilight Citelum
S.A., Flashnet SRL, Led Roadway Lighting Ltd, and Silver Springs Network Inc.
are the leading players of smart street lighting market across the globe.
Don’t miss the business opportunity of
Global Smart Street Lighting Market. Consult to our analyst and gain crucial
insights and facilitate your business growth.
The in-depth analysis of the report provides the growth potential,
upcoming trends and statistics of global smart street lighting market size
& forecast. The report promises to provide state-of-the-art of smart street
lighting technology and industry insights which help decision makers to take
sound strategic decisions. Furthermore, the report also analyzes the market
drivers and challenges and competitive analysis of the market.
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