Connected (Smart) Street Light Market

Connected (Smart) Street Light Market is Expected To Be Influenced By A Range Of
Macroeconomic And Market-Specific Factors
According to a new market research report titled ‘Connected (Smart) Street Light Market –
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026’ published by
Transparency Market Research, the global connected (smart) street light market is expected to
reach US$ 1,502.8 Mn by 2026, expanding at a CAGR of 21.0% from 2018 to 2026. According
to the report, the global market is expected to be influenced by a range of macroeconomic and
market-specific factors. In terms of demand, Europe is projected to continue to lead the global
market, with the market in the region expanding at a CAGR of 19.5% between 2018 and 2026.
Growing adoption of smart lighting and control systems is anticipated to significantly drive the
market during the forecast period.
Energy-efficient solutions drive the connected (smart) street light market
The global connected (smart) street light market is projected to expand at a significant growth
rate during the forecast period, due to the increasing trend of energy-efficient solutions offered
by manufacturers. Growing awareness about energy-efficient street light models is primarily
fueling the connected (smart) street light market. As electricity prices continue to rise, more and
more government organizations are switching toward connected (smart) street lights to reduce
operational costs while improving safety and efficiency. Also, increasing use of electricity across
residential, commercial, and industrial sectors has led to rise in operational and maintenance
costs of lighting controls, which is expected to augment the connected (smart) street light market
in the next few years.
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Global Connected (Smart) Street Light Market: Scope of Report
The global connected (smart) street light market has been broadly segmented based on
connectivity, component, and region. In terms of connectivity, the market has been segmented
into wired (power line communiation) and wireless. Among these, the wireless segment holds a
significant share of the market. The segment is anticipated to expand at a CAGR of 21.6% and
remain dominant throughout the forecast period. Based on component, the market has been
classified into hardware, software, and services. The hardware segment has been sub-segmented
into light source, drivers & ballast, sensors, switches, controllers, and others. The light source
sub-segment has been sub-categorized into LED lamps, sodium vapor lamps, and others. Among
components, the hardware segment held a prominent share of about 70.6% of the global market
in 2017. It was followed by the software segment. In terms of region, the global connected
(smart) street light market has been segregated into North America, Europe, Asia Pacific, Middle
East & Africa, and South America.
In terms of revenue, Europe held the leading share of the global connected (smart) street light
market in 2017. The market in the region is anticipated to expand at a CAGR of 19.5% during
the forecast period. Rising advancements in the Internet of Things (IoT) technology and its
integration with other devices have led to strong adoption of smart lighting and control systems
across Europe. In addition, several governments are installing smart lighting and control systems
on roadways, parking lots, and outdoor fields to enhance the ambience and cut excessive power
consumption. In terms of revenue, China holds a major share of the connected (smart) street light
market in Asia Pacific, followed by India. Also, in terms of revenue, the market in India is
anticipated to expand at a significant CAGR during the forecast period, due to growing
deployment of LED lighting systems in the country. Introduction of wireless technologies such
as Bluetooth, Wi-Fi, LoRa, and Sigfox is likely to create lucrative opportunities for the
connected (smart) street light market in the near future.
Global Connected (Smart) Street Light Market: Competition Scenario
The research study includes profiles of leading companies operating in the global connected
(smart) street light market. Market players have been profiled in terms of attributes such as
company overview, financial overview, business strategies, and recent developments. Some of
the key players operating in the connected (smart) street light market are Cisco Systems, Inc.,
Citelum S.A., DimOnoff Inc., Echelon Corporation, EnGo Planet, Flashnet SRL, General
Electric Co., Philips Lighting N.V., LED Roadway Lighting Ltd., LonMark International,
OSRAM Licht Group, Silver Spring Networks Inc., Telensa Ltd., Toshiba Corporation,
Transdata Inc., and Tvilight.