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 | 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.
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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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