Connected (Smart) Street Light Market
Connected (Smart) Street Light Market (Connectivity - Wired (Power Line Communication), Wireless; Component - Hardware (Light Source - LED Lamps, Sodium Vapor Lamps, and Others, Drivers and Ballast, Sensors, Switches, Controllers), Software, Services) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026
Press Release :
Connected (Smart) Street Light Market - Snapshot
Lighting is one of the major prospects for rapidly evolving smart technologies. A majority of lighting systems installed currently are based on traditional lighting systems. However, increasing awareness about energy conservation and efficient lighting techniques is gaining attention of players operating in the connected (smart) street light market. In addition, development of sensors and wireless technologies in the field of smart lighting is fueling the market. The market is witnessing growth, due to rise in the demand for greener strategies that would support sustainable development worldwide. The global connected (smart) street light market is anticipated to reach value of US$ 1,502.8 Mn by 2026 from US$ 257.3 Mn in 2017, expanding at a CAGR of 21.0% during the forecast period.
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 divided into wired and wireless. Based on component, the market has been classified into hardware, software, and services. Furthermore, the hardware segment has been sub-classified into light source, drivers & ballast, sensors, switches, controllers, and others. The light source sub-segment has been sub-divided into LED lamps, sodium vapor lamps, and others. 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.
The wireless segment holds a major share of the global connected (smart) street light market and is expected to continue its dominance during the forecast period. Introduction of new wireless technologies such as Li-Fi is positively influencing the market. However, the connected (smart) street light market faces challenges in terms of poor infrastructure in developing economies. This is attributable to underdeveloped network infrastructure and low Internet penetration, which leads to low bandwidth availability. Increasing adoption of light emitting diodes (LEDs), rapidly rising trend of street lighting systems and lighting in commercial setups, and high penetration of connected street light technology in smart cities are expected to provide significant opportunities to the connected (smart) street light market in the near future.
In view of rapid growth of the market, several players are investing in the connected (smart) street light market. In February 2017, Citelum S.A. launched its new street lighting laboratory at the EDF Lab Les Renardières site to test the effectiveness of new technologies; evaluate their effect on electric networks; and find and develop new solutions for smart, economical, and eco-friendly lighting.
Some of the prominent players operating in the global connected (smart) street light market and profiled in the study 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.
A smart street light system comes with a bunch of streetlight lamps able to communicate with each other and shares lighting data with local concentrator. Two-way communication is enabled in this smart street lighting system, which is an added advantage for the systems. This factor is likely to add to the growth of the global connected (smart) street light market in the years to come.
It also enables facility managers to regulate street lights remotely whilst monitoring consumption of electrical power in those lamps and in the associated driving circuits. Monitored networks of street lights assist in the reduction of cost of maintenance. Each of the lamps comes with a unique ID and can be spotted instantly. The status of lamp can be tracked and when a lamp breaks down, falls down or starts malfunctioning somehow then timely, cost-effective and efficacious solution can be developed. These benefits are likely to foster growth of the global connected (smart) street light market in the years to come.
The very basic components of a connected street lights comprise the following
- IoT-based communication is utilized to generate reliable, secure, and digitally monitored network.
- It comes with HID or LED lamps with very high efficiency.
- The system comes with various sensors so as to track air pollution, inclination of lamppost, and monitor conditions of the weather.
These connected street lights are able to brighten and auto-dim on the basis of changes in weather conditions, animals, pedestrians, and passage of vehicles. These lights can also monitor traffic and diminish the rate of crime, create high alert on toxic content of the air, and measure the level of pollution. With the presence of so many operational benefits, the global connected (smart) street light market is anticipated to observe growth in the years to come.
Connected (Smart) Street Light Market: Overview
This comprehensive report by Transparency Market Research analyzes and forecasts the connected (smart) street light market at the global and regional levels. The report provides analysis for the period from 2016 to 2026, wherein 2018–2026 is the forecast period and 2017 is the base year. An in-depth and unbiased market assessment has been made to provide readers with in-depth and accurate analysis. The report emphasizes all major anticipated trends in the connected (smart) street light market from 2018 to 2026. It also focuses on market drivers, restraining factors, and opportunities for the global connected (smart) street light market. The study provides a complete perspective on growth of the connected (smart) street light market, in terms of value (US$ Mn) and volume (Thousand Units), across various geographies including North America, Europe, Asia Pacific, Middle East & Africa, and South America
The report includes detailed value chain analysis, which provides an extensive view of the global connected (smart) street light market. Porter’s Five Forces analysis has also been provided to help understand the competition scenario in the market. The study incorporates market attractiveness analysis, wherein connectivity and component segments have been benchmarked based on their market size, growth rate, and attractiveness. In order to offer complete analysis of the competition scenario in the connected (smart) street light market, attractiveness analysis of the market in every region has been provided in the report.
The market overview chapter in the report explains market trends and dynamics that include drivers, restraining factors, and the current and future opportunities for the connected (smart) street light market. Market outlook analysis has also been provided in the report. Additionally, the report provides analysis of different business strategies adopted by leading players operating in the global connected (smart) street light market. The market introduction chapter helps in getting an idea of different trends prevalent in the global connected (smart) street light market.
Global Connected (Smart) Street Light Market: Scope of Report
The connected (smart) street light market in North America has been divided into the U.S., Canada, and Rest of North America. Furthermore, the market in Europe has been segmented into Germany, the U.K., France, Spain, Italy, Belgium, the Netherlands, Denmark, and Rest of Europe. The market in Asia Pacific has been classified into China, India, Japan, and Rest of Asia Pacific. Middle East & Africa comprises GCC, South Africa, and Rest of Middle East & Africa. Similarly, South America includes Brazil and Rest of South America. The report provides all strategic information required to understand the connected (smart) street light market along with insights into connectivity and component segments according to various geographic regions mentioned above.
Global Connected (Smart) Street Light Market: Research Methodology
The research methodology is a perfect combination of primary research and secondary research. Secondary research sources include annual reports, company websites, SEC filings and investor presentations, national government documents, internal and external proprietary databases, statistical databases, relevant patent and regulatory databases, market reports, government publications, World Bank database, and market-specific white papers. Primary research involves telephonic interviews, e-mail interactions, and face-to-face interviews for detailed and unbiased reviews of the connected (smart) street light market across geographies. Primary interviews are usually conducted on an ongoing basis with market experts and participants in order to obtain the latest market insights and validate the existing data and analysis. Primary interviews offer new and fresh information on important factors such as market trends, market size, competition landscape, and growth trends. These factors help validate and strengthen secondary research findings. Moreover, the data collected from secondary and primary research is discussed and examined by TMR’s expert panel.
Global Connected (Smart) Street Light Market: Competition Dynamics
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. Parameters such as investments and R&D activities by major players have been tracked. Some of the key players operating in the global 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.
The connected (smart) street light market has been segmented as follows: