12-Feb-2021 | Zion Market Research
According to Zion Market Research, the global connected (smart) street light market is expected to reach USD 1,502.8 million by 2025, developing at a CAGR over 21.8% during the forecasted period 2019–2025. Lighting is one of the main prospects for promptly transforming smart technologies. Currently, a majority of lighting systems installed is based on the customary lighting systems. Nevertheless, augmenting consciousness regarding energy management and competent lighting systems is gaining the attention of contenders active in the connected (smart) street light market. Additionally, the advancement of wireless and sensors technologies in the field of smart lighting is boosting the market growth. The market is growing due to a surge in the demand for greener tactics that will support renewable development globally.
Some of the key players in the global market are Citelum S.A.; Cisco Systems, Inc.; Echelon Corporation; DimOnoff Inc.; Flashnet SRL; EnGo Planet; Philips Lighting N.V.; General Electric Co.; LonMark International; LED Roadway Lighting Ltd.; Silver Spring Networks Inc.; OSRAM Licht Group; Toshiba Corporation; Telensa Ltd.; Tvilight; and Transdata Inc.
Rise In The Introduction Of Novel Wireless Technologies To Boost The Global Connected (Smart) Street Lights Market
The wireless section holds the largest share of the connected (smart) street light market and is projected to maintain its supremacy over the estimated period. The introduction of the latest wireless technologies like Li-Fi is favorably influencing the market. Nevertheless, the connected (smart) street light market encounters challenges with regard to poor infrastructure in emerging economies. This is owing to underdeveloped system infrastructure and low penetration of the Internet, which results in low bandwidth availability. The augmenting adoption of LEDs (light-emitting diodes), rapidly growing trend of street lighting systems & lighting across commercial setups, and high emergence of connected street light technology in the smart cities are predicted to offer significant prospects to the connected (smart) street light market in the upcoming years.
The global connected (smart) street lights market is bifurcated on the basis of component, networking technology, and regional analysis. Based on the component, the market is divided into hardware, software, and services. The hardware segment is subdivided into light source (sodium vapor lamps, LED lamps, and others), sensors, drivers & ballasts, controllers, switches, and others. Based on the networking technology, the market is divided into medium band, narrowband, and broadband.
Europe Projected To Witness Massive Growth In The Global Connected (Smart) Street Lights Market
Based on geographical analysis, the global connected (smart) street lights market is divided into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. The European region is expected to have noteworthy growth in the smart/connected street lights market. The U.K, Norway, Germany, and France are the top countries in the market. Their development is owing to rapidly growing implementation of connected lights in electric vehicles, which in return is likely to augment the demand for street lighting market during the forecasted period.
Browse the full “Connected (Smart) Street Lights Market - By Component (Hardware, Software, And Services), By Networking Technology (Medium Band, Narrowband, And Broadband), And By Region - Global Industry Perspective, Comprehensive Analysis, And Forecast, 2019 – 2025.” Report at https://www.zionmarketresearch.com/report/connected-street-lights-market
The global connected (smart) street lights market is segmented as follows:
By networking technology:
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