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Growth opportunities in the connected street lighting market look promising over the next six years. This is mainly due to the implementation of several solutions, which include Platform-as-a-Service, the rising urban population, and increasing investments in smart cities.
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Connected Street Lighting Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Connected Street Lighting Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
Key Drivers
The surging investment in smart cities across the world is one of the prominent drivers contributing to the growth of the global connected street lighting market. For instance, the Smart Dubai 2021 project focus on transforming the city into a model smart city incorporated with daily life services, better usage of city resources, and protection of people and information. The European Commission, in 2019, sanctioned EUR 82 million for the establishment of 20 smart cities that will provide enhanced security level, digital transition, and use of urban land. Also, rapid urbanization is indirectly promoting connected street lighting market size.
The execution of different solutions like Platform-as-a-Service is augmenting the market because the PaaS solutions provide centralized and better control and real-time alerts for smart city applications without worrying about building, designing, and maintaining the citywide communication network. Telensa Ltd. partnered with Australia's government to launch its PLANet intelligent street lighting solutions in Darwin, Australia. The primary motive is to decrease energy and maintenance costs and improve the quality of services through automatic fault reporting. Telensa In 2019, entered into an agreement to provide 15,000 LED smart lights in Dunedin, New Zealand. These factors together will raise the market demand.
Regional Drivers
Regional Drivers
On the basis of regional coverage, North America is anticipated to lead the market over the forecast period. The U.S. market is experiencing a boost because of the rising favorable government initiatives to strengthen the adoption of smart street lighting solutions. The city of Chicago, in 2020, replaced 210,000 streetlights with LEDs to expand the overall authenticity and maintenance by monitoring and lighting control technology. Also, the government started the "Chicago Smart Lighting Program" with an aim to substitute 270,000 existent outdated High-Pressure Sodium (HPS) light fixtures with the LED lights and introduced modern lighting management systems for efficient maintenance and repairs. These initiatives are expected to fuel the market demand. Moreover, the rising number of mergers and acquisitions between leading market players will fuel the demand for these lighting solutions. AT&T partnered with General Electric In 2017 to insert its Current CityIQ sensors into the streetlights of U.S. cities, which will help to record traffic patterns, air quality, weather emergencies, and parking on city streets.
Connected Street Lighting Market’s leading Manufacturers:
Connected Street Lighting Market’s leading Manufacturers:
· LED ROADWAY LIGHTING LTD.
· Thorn
· Eaton
· Signify Holding
· General Electric
· Dimonoff inc.
· Echelon
· Hubbell
· OSRAM GmbH
· Cree Inc.
Connected Street Lighting Market Segmentation:
Segmentation by Component:
· Hardware
o Lighting Fixture
o Controllers
o Communication Nodes and Gateways
o Others
· Software
· Services
Segmentation by Application:
· Traffic Monitoring
· Video Surveillance
· Others
Segmentation by Region:
· North America
o United States of America
o Canada
· Asia Pacific
o China
o Japan
o India
o Rest of APAC
· Europe
o United Kingdom
o Germany
o France
o Spain
o Rest of Europe
· RoW
o Brazil
o South Africa
o Saudi Arabia
o UAE
o Rest of the world (remaining countries of the LAMEA region)
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