Published: 2023 April 10

Connected (Smart) Street Light Market Size, Competitive Landscape and Market Forecast - 2030

SKU : EP1904
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180 pages
Report Summary
Table of Contents
List of Tables & Figures

Global Connected (Smart) Street Light Market is segmented By Components segment (Hardware, Service, Professional, Managed), By Networking Technology segment (Narrowband, Medium band, Broadband), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) Size, Share Outlook, and Opportunity Analysis, 2023-2030 

 

Connected (Smart) Street Light Market Report Overview

180 Pages report analyses the global Connected street light Market size, shares, supply chain analysis, company profiles and industry dynamics. The report estimates that the market to grow at a CAGR of 30% till 2029. The growing need for energy-efficient systems like smart street lights is increasing demand for the Connected street light market. The competitive rivalry intensifies with General Electric Co., Koninklijke Philips NV, Echelon Corporation, Osram AG, Cisco System Inc. and others are operating in the market. 

Connected (Smart) Street Light Market Scope and Summary

Metrics

Details

Market CAGR

30%

Segments Covered

By Components segment, By Networking Technology segment, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

 

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Connected (Smart) Street lights are devices that are used for lighting up cities. In this, all lights are connected and have sensors that make them efficient by putting off the lights when they are not required or not in use. So, these smart connected street lights light up city streets with efficient power use.

The report covers all the major trends and drivers playing a key role in the growth of the Connected (Smart) Street Light market. The connected (Smart) Street Light market is segmented by Components, Networking Technology, and Region.

Connected (Smart) Street Light Market Dynamics and Trends

The global Connected (Smart) Street Light market is primarily driven by the growing need for energy-efficient systems like smart street lights. The increasing energy crisis globally has put the urge for more energy-efficient systems that conserve energy. The need for sustainable development by conservation of energy is expected to drive the market for the connected street light market over the forecast period.

For instance, with a population of 190 million and a generation capacity of 3,900 MW, energy poverty is still a critical issue for Nigeria. However, the country has abundant energy resources, and the potential of its renewable can serve as a solution to tackle the power crisis sustainably. The current political will to crack down on corruption is expected to gain importance and grow as a signal to encourage future investments in Nigeria’s power sector in the coming years.     

The growing construction of smart cities all around the globe is the other reason for the smart street light market to have a positive impact in the coming years. Rising smart cities account for the increase in the adoption of IoT devices and LI-FI technology. There are huge investments in the development of smart cities all around the world. For instance, the Government of India (GoI) announced 30 new cities under Smart Cities Mission, taking the total number of proposed smart cities to 90 cities. The government has announced to development of 100 smart cities in India. The government has planned to invest INR 1.91 trillion (US$ 30 billion) in the 89 cities under the mission. As per the proposed investment, 80% of the funds would be spent on area-based development (ABD) and the remaining 20% of funds on ICT Solutions.

However, the high cost of initial installation and higher maintenance costs are some of the factors that will be hampering the growth of Connected (Smart) Street Light in the forecast period. 

Connected (Smart) Street Light Market Segmentation

By Components, the global Connected (Smart) Street Light market is segmented into Hardware and Services. The hardware segment includes a light source, drivers and ballast, sensors, switches, controllers, and others. As hardware is the integral element of the smart street light, which will make the market grow at a higher CAGR for the hardware. It is expected that the Hardware market for the Connected (Smart) Street Light market will grow at a CAGR of ~XX% during the forecast period.

By Networking technology, the global Connected (Smart) Street Light market is segmented into Narrowband, Medium band, and Broadband. The medium band has the dominant position in the Connected (Smart) Street Light market due to the reason that proves to be both reasonably affordable and technically suitable for the largest number of potentially desirable applications.

Connected (Smart) Street Light Market Geographical Analysis

By geography, the global Connected (Smart) Street Light market is segmented into North America, Asia-Pacific (APAC), Europe, South America, and the Middle East and Africa (MEA).

Europe holds the largest market share for Connected (Smart) Street Light due to rising urbanization coupled with the government initiative for energy conservation in the region. Also, the increase in the investments in smart street light installation by public and private will drive the market for the forecast period. For instance, in Europe so far, only a handful of cities have installed intelligent lighting. However, the European Commission has pledged to help fund a project to set up 10 million smart street lamps around cities in the EU by 2025.

North America is after Europe in terms of the market share of Connected (Smart) Street Light due to the rise in commercial spaces like offices and parking lots and also due to the high investments in smart city development projects will be the major drivers for the smart street light market in the region. For instance, Chicago’s programs to replace 270,000 city lights over the next four years with LEDs and intelligent controls are a good example of the growing scale and ambition of street lighting projects. This initiative could eventually save Chicago $10 million a year in energy costs. The latest edition of Navigant Research’s Smart City Tracker includes smart city projects in 221 cities, a quarter of which are deploying smart street lighting ranging from initial pilots to citywide and regional deployments that span tens and even hundreds of thousands of lights.

Connected (Smart) Street Light Companies and Competitive Landscape

Key players are adopting strategies such as investing in R&D, new product launches, and expansion in Networking Technology to stand out as strong competitors in the market. Global Connected (Smart) Street Light is a competitive market with the presence of various global and regional players in the market. The major players are General Electric Co., Koninklijke Philips NV, Echelon Corporation, Osram AG, and Cisco System Inc. Other key players in the market include Triliant Holdings Inc., AxiomTek, Tech Mahindra Limited, Schréder Group GIE, and Silver Spring Networks Inc.

In April 2018: Telensa entered into a partnership with the government of Hong Kong to replace 600 streetlights in Yuen Long. This is part of a pilot scheme that is expected to introduce more sophisticated and intelligent street lighting systems to the entire region’s urban infrastructure.

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.

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  • Deep Sector-Specific Intelligence

  • Attractiveness and consumer behavior analysis for every region

  • Highlights of the competitive landscape

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FAQ’s
What is the Connected (Smart) Street Light Market Growth?
The market is growing at a CAGR of 30%.
What is the Connected (Smart) Street Light Market Size in 2022?
The Connected (Smart) Street Light Market size was valued at USD YY million in 2022.
Who are the key players in the Connected (Smart) Street Light Market?
General Electric Co., Koninklijke Philips NV, Echelon Corporation, Osram AG, and Cisco System Inc. Other key players in the market include Triliant Holdings Inc. and AxiomTek.
Which is the fastest-growing region in the Connected (Smart) Street Light Market?
Among all regions, Asia Pacific is the fastest-growing market share during the forecast period.
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