Connected Smart Street Light Market Dynamic Demand For Future Growth, Global Industry Analysis by Size, Top Major Companies and Forecast to 2030 | Impacts of COVID-19

The global connected smart street light market is estimated to account for over US$ 350 Mn by 2019. The market is anticipated to grow at a CAGR of 19.88% from 2019 to 2030.

Connected smart street light is the smart technology belonging to the lighting system industry. It adjusts automatically depending on real-time the condition of the road, and change as per the realistic surroundings. At present, several installed lighting devices focus on conventional technologies. Some of the major factors impacting the growth of connected smart street light industry include the need for efficient lighting technologies and growing awareness for energy conservation. In addition, the demand for connected smart street light is also increasing owing to the increased use of wireless systems and rise of cameras in smart lighting domain. The domain is also focused on the introduction and implementation of greener strategies technologies. These green strategies are beneficial and support sustainable development, on the global scale.

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Top Players:

Some of the prominent players in the connected smart street light market include Cisco Systems, Inc., Signify Holding., Itron Inc., Telensa,, OSRAM GmbH, Schréder, Huawei Technologies Co., Ltd., and ACUITY BRANDS LIGHTING, INC., among others.

Growth Factor:

Connected smart street lights can perform multiple functions, such as traffic monitoring, public safety monitoring and auto-dimming based on changes in weather conditions among others. Also, it can measure air pollution levels and notify when the toxicity of the air increases. Increasing awareness regarding energy-efficient solutions, growing demand for intelligence lighting systems, and new smart city projects are fueling market growth.

Moreover, connected smart street lights can save approximately 70% of the power. It helps to reduce road accidents and crime by continuously monitoring pedestrians, vehicles, and other moving objects. Hence, many government bodies and agencies have been undertaking smart street lights initiatives. For instance, in Australia, local governments have planned to deploy over 4,700 smart street lights from April 2019 in Palmerston and Darwin cities of the northern territory. Such government initiatives have been boosting the market growth of connected smart street lights across the globe.

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Segmentation Based On:

Major Types of Market covered are:
Hardware & Software
Service

Major Applications of Market covered are:
Traffic Monitoring,
Environmental Monitoring,
and Video Surveillance

Regional Analysis:

Europe accounted for the largest market share globally for the past few years. However, Asia-Pacific is expected to grow with the highest CAGR during the forecast period due to governments in the region taking up smart initiatives, especially in China, India, Japan, South Korea, and Hong Kong. For instance, in 2019, the Hong Kong government has planned to install about 400 multifunction street lamps, which are capable of collecting information related to air quality, traffic flow, and weather.

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Table of Content

1.INTRODUCTION
1.Market Definition
2.Market Ecosystem
1.Market Classification
2.Geographic Scope
3.Years Considered for the Study
1.Historical Years – 2016 & 2017
2.Base Year – 2018
3.Forecasted Years – 2019 to 2030
3.Currency Used for the Study
4.Report Beneficiary List

2.RESEARCH METHODOLOGY
1.Research Framework
2.Data Collection Technique
3.Data Sources
1.Secondary Sources
2.Primary Sources
4.Market Estimation Methodology
1.Bottoms Up Approach
2.Top Down Approach
5.Data Validation and Triangulation
1.Market Forecasting Model
2.Limitations of the Study
3.Assumptions of the Study

3.ABSTRACT OF THE STUDY

4.MARKET DYNAMICS ASSESMENT
1.Overview
2.Drivers
3.Barriers/Challenges
4.Opportunities

In the end, Connected Smart Street Light Market industry report specifics the major regions, market scenarios with the product price, volume, supply, revenue, production, market growth rate, demand, forecast and so on. This report also presents SWOT analysis, investment feasibility analysis, and investment return analysis.

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