Global connected (smart) street light market is forecast to grow at a CAGR of over 19% during the forecast period, on account of infrastructure development aimed at transforming cities into smart cities. Development of wireless technologies & sensors and new streetlights such as LED, which are more efficient than the regular streetlights is bolstering market growth. Increasing demand for intelligent solutions for street lighting is expected to drive global connected (smart) street light market through 2024. Another factor anticipated to positively impact market growth is low cost, increasing adoption of LEDs and growing awareness among people about saving energy.
Smart or connected streetlights help cities in cutting cost by reducing maintenance cost and dimming lights. Global connected (smart) streetlight can be segmented based on component and networking technology. Based on components, hardware segment includes light source, drivers and ballast, sensors, switches, controllers and others. As hardware segment is the integral element of the smart street light market, the segment is poised to grow at a high rate during the forecast period.
Technological innovations are resulting in demand for connected (smart) street lighting systems. Europe dominated global connected street light market in 2018, with countries such as the UK, Germany and France dominating the regional market, primarily on account of the early adoption of connected streetlights and initiatives taken by the government agencies of the region.
Major players operating in global connected (smart) street light market include Current, powered by GE, Philips Lighting, Toshiba Lighting, Citelum, OSRAM Licht Group, Signify NV, etc. Major companies are developing advanced technologies and launching new products in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments. Philipps Lighting N.V. launched CityTouch ready luminaries, which can be integrated with the CityTouch platform to offer smart streetlights.
Years considered for this report:
- Historical Years: 2014-2017
- Base Year: 2018
- Estimated Year: 2019
- Forecast Period: 2020–2024
Objective of the Study:
- To analyze and forecast global connected (smart) street light market size.
- To classify and forecast global connected (smart) street light market based on component, networking technology and regional distribution.
- To identify drivers and challenges for global connected (smart) street light market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global connected (smart) street light market.
- To conduct the pricing analysis for global connected (smart) street light market.
- To identify and analyze the profile of leading players operating in global connected (smart) street light market.
Some of the leading players in global connected (smart) street light market include Current, powered by GE, Philips Lighting, Toshiba Lighting, Citelum, OSRAM Licht Group, Signify NV, etc.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufacturers, distribution channels and presence of all major players across the globe.
TechSci Research calculated global connected (smart) street light market size using a bottom-up approach, where data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
- Manufacturers of luminaries
- Research organizations and consulting companies
- Government bodies such as regulating authorities and policy makers
- Organizations, forums and alliances related to connected (smart) streetlight
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as manufacturers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, global connected (smart) street light market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Market, by Component:
Drivers & Ballast
- Market, by Networking Technology:
o Medium band
- Market, by Region:
o North America
o South America
o Middle East & Africa
Company Profiles: Detailed analysis of the major companies present in global connected (smart) street light market.
With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:
- Detailed analysis and profiling of additional market players (up to five).