LONDON--(BUSINESS WIRE)--The global connected (smart) street light market is expected to post a CAGR of more than 28% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
The operational benefits of smart street lights is expected to be one of the major factors driving the growth of the connected street lights market. Smart street lights are capable of auto-dimming and brightening based on changes in weather conditions, the passage of vehicles, pedestrians, and animals. These lights are equipped with cameras and sound sensors that are used to measure air pollution levels, raise alerts on high toxic content in the air, monitor traffic and reduce crime rates.
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As per Technavio, the emergence of smart cities will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Smart Street Light Market: Emergence of smart cities
The concept of a smart city is gaining immense popularity across the world. Smart cities incorporate the use of various digital technologies that enhance communication among devices and improve their performance. This helps to reduce costs and enable the efficient use of resources. In this context, smart street lighting which is equipped with digital network and embedded sensors helps in monitoring city traffic and air quality. These connected lights can also detect traffic congestion and track parking space availability. Smart street lights connected with cameras can improve road safety by reducing the risk of crime and accidents. Therefore, the emergence of smart cities is expected to fuel the growth of the global smart street lighting market size during the forecast period.
“The wired connected street lights use programmable logic controller (PLC), which is the most secure communication module and is better than a wireless communication module such as Bluetooth. However, the upfront cost of PLC based wired connected street light is higher than that of smart street light systems that work on a wireless communication module. As a result, the adoption of wireless street lights is expected to increase significantly during the next few years,” says a senior analyst at Technavio.
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Global Smart Street Light Market: Segmentation Analysis
This market research report segments the global smart street light market by connectivity (wired and wireless) and geographical regions (APAC, North America, Europe, South America, and the Middle East and Africa).
The European region led the market in 2018, followed by North America, APAC, MEA, and South America respectively. During the forecast period, the APAC region is expected to register the highest incremental growth, due to the increasing technology awareness and technology adoption by governments in the region. The rising focus on reducing energy costs and carbon dioxide emissions will also lead to increased adoption of smart street lights.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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