By the end of 2026, the Smart Street Lighting Market is Anticipated to grow at a CAGR of 17.5%

In a recent report titled "Smart Street Lighting Industry: Global Industry Analysis 2012-2016 and Forecast 2017-2026," Persistence Market Research examines the performance of the global smart street lighting market over a nine-year evaluation period beginning in 2017 and ending in 2026.

The study provides important information about the market dynamics operating in this sector, including drivers, constraints, opportunities, and trends. It also makes a value prediction for the global market for smart street lighting.

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As per the data provided by Persistence Market Research, the global smart street lighting market was estimated to be valued at nearly US$ 1,000 Mn at the end of the year 2017 and is slated to reach a valuation of nearly US$ 4,300 Mn at the end of the assessment period in 2026, and in the process exhibit a CAGR of 17.5% during 2017-2026.

Smart street lighting systems consist of various features that make them reliable, environment friendly and efficient to use. Smart street lighting systems are energy efficient, predominantly using LED lighting and possess control units and sensors in all the lamps or group of lamp poles, in order to enable them to transmit data to the central controlling system, thereby facilitating two way communication.

In this manner, smart street lighting systems are able to transmit information such as which lamps have stopped emitting light so that they can be replaced. Other variables that can be monitored in a smart street lighting system include temperature, light, current, etc. thus transmitting real-time information to the centralized system, making the maintenance of street lighting systems easy to accomplish and also cheaper than routine maintenance.

Another important feature of smart lighting systems is that these are environment friendly and reduce the emission of harmful greenhouse gases.

CFL sub-segment is the second largest by value in the type category of the global smart street lighting market

The CFL sub-segment is the second largest in terms of revenue in the type category, and is expected to exhibit a CAGR of 12.3% during the period of assessment. The CFL sub-segment in the global smart street lighting market was estimated to be valued at nearly US$ 400 Mn in 2017 and is poised to reach a market valuation of nearly US$ 1,050 Mn by the end of the period of assessment in 2026.

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Wired Connectivity Segment Largest in Terms of Revenue Share

The wired segment in the connectivity category of the global smart street lighting market is the largest in terms of value and is poised to exhibit a CAGR of 14.7% during the period of assessment. The wired segment is projected to reach a value of nearly US$ 2,600 Mn at the end of the period of assessment.

Traditional and Other Renewable Energy Segment by Energy Source to Lead in Terms of Revenue

The traditional and other renewable energy segment in the energy source category of the global smart street lighting system market is expected to exhibit a CAGR of 16.9% during the period of assessment. The traditional and other renewable energy segment was estimated to be valued at nearly US$ 960 Mn in the year 2017.

LED Segment by Type Slated to Exhibit the Fastest Growth Rate

The LED segment in the type category of the global smart street lighting market is poised to exhibit the fastest CAGR of 21.3% during the period of assessment. The LED segment is forecasted to reach a market valuation of nearly US$ 2,700 Mn by 2026 end.

North America Smart Street Lighting Market to Emerge the Largest in Terms of Value Among Other Regional Markets

The smart street lighting market in North America is the largest in terms of revenue and is likely to exhibit a CAGR of 15.5% during the period of assessment. The North America regional market is likely to reach a valuation of nearly US$ 1,250 Mn by the end of the period of forecast in 2026.

Competition Landscape of the Global Smart Street Lighting Market

This report profiles some of the key players operating in the global smart street lighting market such as GE Lighting, LLC, CREE, INC., Honeywell International, Royal Philips NV, Eaton Corporation, Hubbell Lighting, Inc., Schneider Electric S.E, OSRAM Licht AG, Acuity Brands Lighting, Inc. and Lutron Electronics.

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