According to the report, the global connected smart street light market is estimated to account for over US$ 350 Mn by 2019. The market is anticipated to grow at a CAGR of 19.88% from 2019 to 2030.
New York, NY -- (SBWIRE) -- 02/13/2020 -- The updated 'Global Connected Smart Street Light Market Report 2020' is now available with Market Industry Reports (MIR). Researchers have provided detailed analysis on ongoing trends and developments in the product, product preference by large end-users, and strategies adopted by the key players for the competitors to identify opportunities and expand considerably. According to the report, the global connected smart street light market is estimated to account for over US$ 350 Mn by 2019. The market is anticipated to grow at a CAGR of 19.88% from 2019 to 2030.
Development of wireless technologies & sensors and new street lights such as LED, which are more efficient than the regular street lights is bolstering market growth. Increasing demand for intelligent solutions for street lighting is expected to drive global connected (smart) street light market through 2030. Another factor anticipated to positively impact market growth is low cost, increasing adoption of LEDs and growing awareness among people about saving energy.
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The research study includes profiles of leading companies operating in the global connected (smart) street light market. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, and recent developments. Parameters such as investments and R&D activities by major players have been tracked. Some of the key players operating in the global connected (smart) street light market are Cisco Systems, Inc., Citelum S.A., DimOnoff Inc., Echelon Corporation, EnGo Planet, Flashnet SRL, ., Signify Holding., Itron Inc, General Electric Co., Philips Lighting N.V., LED Roadway Lighting Ltd., LonMark International, OSRAM Licht Group, Silver Spring Networks Inc., Telensa Ltd., Toshiba Corporation, TransData Inc., and Tvilight.
Connected smart street lights can perform multiple functions, such as traffic monitoring, public safety monitoring and auto-dimming based on changes in weather conditions among others. Also, it can measure air pollution levels and notify when the toxicity of the air increases. Increasing awareness regarding energy-efficient solutions, growing demand for intelligence lighting systems, and new smart city projects are fueling market growth.
Europe accounted for the largest market share globally for the past few years. However, Asia-Pacific is expected to grow with the highest CAGR during the forecast period due to governments in the region taking up smart initiatives, especially in China, India, Japan, South Korea, and Hong Kong. For instance, in 2019, the Hong Kong government has planned to install about 400 multifunction street lamps, which are capable of collecting information related to air quality, traffic flow, and weather.
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The global connected (smart) street lights market is segmented on the basis of connectivity and component.
Global Connected Smart Street Lights Market By Connectivity
Global Connected Smart Street Lights Market By Component
- EnGo PLANET
- Telensa Ltd.
- Toshiba Lighting
- Philips Lighting N.V
- OSRAM Licht Group
- OSRAM Licht Group
- Acuity Brands Lighting Inc.
- Schreder Group
- Twilight Citelum S.A.
- Dimonoff Inc.,
The Research Provides Following Key Answers:
-How are the manufacturers operating in the Connected Smart Street Light Market plan to adjust their production according to the status of demand during the forecast period, 2019 to 2030?
-How are prominent leaders planning to secure economies in the distribution of their products?
-What are the defects in the existing products and what corrective measures should the product owners take to improve the product?
-How can companies explore new uses for their existing and new products or services, and thereby increasing the demands in the Connected Smart Street Light Market?
-What will be the market share over the estimated period?
-What are the general conditions prevailing in the Connected Smart Street Light Market?
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