Smart Street Light Market is Presumed to Accrue the Highest Revenue and is Expected to Reach Over USD 12,404 Million By 2023

Global Smart Street Lights Market Research Report – By Component (Hardware, Software, & Services), by Networking Technology (Narrowband, Broad-Band), By Applications (Smart Parking, Street Light Management), By End-users - Forecast till 2023

According to Market Research Future analysis, smart/connected street lights market has been valued at approximately over USD 12,404.1 million growing with a 22% CAGR during the forecast period 2017-2023.

Market Highlights:

With the increasing investment from the advanced economies to upgrade the public infrastructure to attract the foreign investment and enhance the IT sector, emerging economies such as India and China are focusing more on developing a smart city model. Moreover, the companies are adopting strategies like mergers, acquisitions, collaborations, and partnerships to evolve in the Smart Street Lighting Market. For instance, Cisco Systems and Philips lighting are evolving new models and innovations around network-enabled LED street lighting, which helps for promoting and spreading the awareness among elected officials, investors, industry peers, and engineers to develop new and powerful business ecosystems.

Increase in demand for energy efficient LED lights, the emergence of the Internet of things, and constant innovation in mobile networks are some of the major propelling factors for the growth of smart/connected streetlights market over the forecast period. On the flipside, with the proliferation of data collection devices, citizens have expressed their concerns about privacy, which is presumed to hinder the growth of the smart/connected street light market over the next few years.

The smart/connected street lights market is differentiated by components, technology, applications, and end-users

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Key Players:

Market research future identifies some of the key players of Smart/Connected Street Lights market are General Electric (U.S.), Koninklijke Philips N.V (The Netherlands), Telensa (U.K.), Silver Spring (U.S.), Echelon (U.S.), Osram AG ( Germany), Cisco system (U.S.) , Trilliant holdings Inc.(U.S.), AxiomTek (U.S.),and Tech Mahindra (India).

Segmentation:

By component, the smart/connected street lights market is sub-segmented as hardware, software, and services. The hardware component comprises LED arrays, sensors, communication module, and others. The services segment is categorized into professional services and managed services. The professional services include system integrations, training & implementation, and others.

Depending on the networking technology, the market is sub-segmented into narrowband, medium-band, and broadband technology. The narrow-band technology is further categorized into Sigfox, LoRa, RPMA, and others. The medium band includes PLC, RF mesh, and others, whereas the broadband technology consists of 3G/4G cellular, Wi-Fi, and others.

On the basis of applications, the market is categorized as environmental monitoring, traffic monitoring, smart parking, street light management, video surveillance, public messaging, and others. Lastly, on the basis of end-users, the market is categorized as residential (urban and rural), retail, transportation, automotive, industrial and others.

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Regional Analysis:

Geographically, the Smart/Connected streetlight market is categorized into four different regions namely Asia Pacific, North Europe, America, and the Rest of the World.

Europe is presumed to have significant growth in the smart/connected street lights market. Countries such as Norway, U.K, France and Germany are leading the market. Their growth is attributed to the increase in different lighting companies focusing on providing smart lighting controls in both private and public areas over the forecast period. Additionally, North America is expected to have significant growth in the market, and the U.S & Canada are the leading countries in the region. The growth is due to the presence of large number of wireless technology providers for enhancing the network connectivity in various connected street lighting applications.

Target Audience:

• Automation companies
• End-user companies
• System integrating companies
• Safety light curtain component manufacturing companies
• Safety light curtain providers
• Automation consultants
• Research organizations and consulting companies
• Technology investors
• Technology standard organizations, forums, alliances, and associations

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