Smart Street Lights Market Trends, Size, Segments, Emerging Technologies 2027

 According to Market Research Future (MRFR), the global smart/connected street lights market is poised to reach approximately USD 12,404.1 MN by 2023, growing at 22% CAGR throughout the review period (2017-2023). State-wide smart street lighting initiatives taken up by governments to replace conventional lighting systems with energy-efficient LED technology to accelerate market sales. Financial, logistical, technical, and informational support from governments for cities that want to upgrade their street lighting systems boosts the market demand.

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Smart/Connected Street Lights Market   - Regional Analysis

Europe dominates the global Smart Street Lights Market Forecast. The largest market share attributes to the rapidly increasing adoption of connected lighting systems for street lights and growing numbers of smart city projects. Besides, the vast advancements in sensing technology, improvements in healthcare standards, and improved technical infrastructure drive the regional market growth.  Also, the resurging economy foster regional market growth, increasing the market

Moreover, the extensive uptake of smart/connected street lights in residential and industrial sectors boosts the development of the market. Countries such as U.K, Germany, Norway, and France are the leading countries in the market.

North America stands second in the global smart/connected street lights market. The market is driven by the rising demand for smart/connected street lights from the automotive and transport sectors.  Additionally, increased investments to boost wireless technology for providing smart parking and related solutions in the urban sectors substantiate the region's market growth. Furthermore, growing application areas of smart/connected street lights in the manufacturing sector foster market growth.

The US market dominates the smart/connected street lights market in the region. Also, the augmenting demand for street safety and comfort features positively impacts the market growth in these regions.

Considerable advancements in artificial intelligence (AI)and other similar technologies push the growth of the smart/connected street lights market. China, Japan, and India are key markets for smart/connected street lights in the region. Furthermore, increasing applications of smart connected street lighting systems in commercial and industrial sectors influence the regional market growth.

Smart/Connected Street Lights Market   - Segmentation

The report is segmented into five dynamics;

By Component                                              : Hardware (LED arrays, sensors, a communication module, others), Software, and Services (professional services and managed services).

By Networking Technology      : Narrowband (Sigfox, LoRa, RPMA, others), Medium-Band (PLC, RF mesh, others), and Broadband Technology (3G/4G cellular, Wi-Fi, others).

By Application                                               : Environmental Monitoring, Traffic Monitoring, Smart Parking, Street Light Management, Video Surveillance, Public Messaging and others.

By End-User                                    : Residential (urban and rural), Retail, Transportation, Automotive, Industrial, and others.

By Regions                                                     : Europe, Americas, Asia Pacific, and the Rest-of-the-World.

 

Smart/Connected Street Lights Market   - Competitive Analysis

Highly competitive, the smart/connected street lights market appears fragmented due to the presence of several well-established players. To gain a larger competitive share, industry players incorporate strategic initiatives such as mergers & acquisitions, collaborations, expansion, and product/ technology launch.

Major Players:

Players leading the global smart/connected street lights market include Koninklijke Philips N.V (The Netherlands), General Electric (US), Telensa (UK), Echelon (US), Silver Spring (US), Osram AG (Germany), Trilliant Holdings Inc.(US), Cisco system (US), Tech Mahindra (India), and AxiomTek (US), among others.

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About Us:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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