Smart Street Lights Market Demand by Forecast to 2027 | Impact of COVID-19

 

Smart Street Lights Market 

Market Overview

Smart street lighting systems can easily detect lighting failure problems in real-time. This system enables faults to be corrected in a time-bound manner and ensures a high quality of services.

Moreover, these smart street lighting systems can transmit information to a centralized management system that monitors various parameters like light, current, voltage, temperature, etc. Therefore, it is two-way communication that enables monitoring of the street lights. The core advantage of these systems is that they are environmentally friendly and reduce greenhouse gas emissions. Due to this, the Smart Street Lights Market Research Report is noticing higher demand.

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The target audiences are highly increasing their adoption of LEDs, and the rise in the advancement of street lighting systems on a higher scale is driving the market. The commercial setups with a high penetration due to the implementation of connected street light technology are acting as key market driver drivers. The utility companies and government institutions have increased their adoption rate due to the higher usage of smart lighting technology, saving and reducing carbon emissions. Also, during the forecast period, the prominent industrial players will apply their tactics will help to propel the demand for greener ideas and innovations. 

Due to the COVID 19 pandemic, new projects and product launches were halted, which led to a major decline in the demand for semiconductors. Almost every global factory, production, and manufacturing unit have stopped their operational activities, which have decreased the demand for the Smart Street Lights Market. But in the further days, the application of new methods and strategies will drive the global market.

The Smart Street Lights Market will register a CAGR of 23.4 % CAGR and a value of 14,751.1 million during the forecast period in 2030.

Market Segmentation

The Smart Street Lights Market is fragmented into components, connectivity, network technology, application and industry. The components fragment of the market is classified into hardware and software. Further, the hardware segment consists of sensors and switches, LED lamps, sodium vapour lamps, drivers and ballasts, and others. 

The connectivity segment is divided into power line communication and wireless communication. The network technology is categorized into broadband, narrowband, and medium band. The application section of the market includes video surveillance, traffic monitoring, and environmental monitoring. The industrial segment shows the services provided to different sectors, such as commercial and pharmaceutical. 

Regional Analysis

The Smart Street Lights Market is geographically distributed into major continents such as North America, Europe, Asia Pacifica and the rest of the world.

The North American market is showing significant growth among other regions due to the project benefits rendered by intelligent road painting, which decreases power usage. The UK region has been found useful in the industrial sectors and the public departments. The region is noticing the huge rise in intelligent road painting alternates. The Asia Pacific region is experiencing higher requirements for energy-efficient alternatives, which helps in the building and construction sector functioning in the region, which is driving the regional market growth. All these regions are contributing to accelerating the market’s growth.

Industry News          

Philips Lighting will help ensure energy-efficient LED street lighting in Ameland - an island in the Netherlands. Philips ClearSky is a light spectrum that intends to reduce the harm and harshness faced by migrator birds.

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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.

MRFR team have objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

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