The global demand for Connected (Smart) Street Light Market is presumed to reach the valuation of nearly USD XX MN by 2028 from USD XX MN in 2021 with a CAGR of XX% under the study period of 2022-2028. Whereas with regards to volume, the market was calculated XX thousand units in 2019 and foreseen to touch XX thousand units by 2026 with a CAGR of XX% during 2020-2026.
Connected or Smart Street light is an intelligent street light system designed for energy efficiency. This system enables city officials to increase or decrease street lighting illumination levels at respective time zones in accordance with the weather condition. This system is also able to respond to specific pedestrian or vehicular activity in order to reduce the energy cost. The smart street light system can also enable light flashing and sequencing to favor traffic and crowd control during special events. In addition to this, smart street lighting can also improve safety in higher crime areas by proving increased lighting, as well as it has the ability to increase lighting at the time of responding to an incident.
The development of wireless technologies & sensors and new street lights such as LED lights and growing awareness among people about energy saving in order to reduce carbon footprints are favoring the market growth. Initiatives taken by various governments for replacing regular street lights with more efficient connected or smart street lights are again propelling the market demand. However, high initial setup cost associated with the installation of the smart street lighting is likely to hamper the market growth. Whereas, infrastructure development and transformation of cities into smart cities is expected to create potential demand over the forecast period.
The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level.
Additionally, these tools also give inclusive assessment of each application/product segment in the global market of connected (Smart) street light.
The entire connected (Smart) street light market has been sub-categorized into connectivity and component. The report provides an analysis of these subsets with respect to the geographical segmentation. This research study will keep marketer informed and helps to identify the target demographics for a product or service.
This section covers regional segmentation which accentuates on current and future demand for connected (Smart) street light market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand for individual application segment across all the prominent regions.
Global Connected (Smart) Street Light Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the connected (Smart) street light market include Acuity Brands Lighting Inc., Dimonoff Inc., EnGo PLANET, OSRAM Licht Group, Philips Lighting N.V, Schreder Group, Telensa Ltd., Toshiba Lighting, and Twilight Citelum S.A. This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications.
If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.