ALBANY, N.Y., April 12, 2022 (GLOBE NEWSWIRE) -- The connected street light market is projected to expand at a CAGR of 17.8% over the forecast period from 2021 to 2031. Consistent rise in electricity prices, a substantial part of which is associated with operational costs, is compelling governments to switch to smart street light systems. This, along with advantages of safety and efficiency of connected street light is fueling the growth of connected street light market.
The installation of connected street light systems provide high-energy efficiency and improved control by reducing the power consumption in lighting applications. Moreover, the backend control system of connected street light enables operators to control luminescence according to the intensity of natural lighting.
North America and Europe account for a substantial share of the connected street light market. Governments in these regions have imposed numerous regulations to phase out older lighting technologies. For instance, the European Union passed regulation to phase out less energy efficient halogen spotlights from 2018. Factors such as technological advancements in sensors and networking technologies, along with growing penetration of IoT ecosystems, fuel the growth of the connected street light market in these regions.
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Connected (Smart) Street Light Market – Key Findings of Report
- Emphasis of large utility companies and governments on increasing adoption of LED lighting to reduce power consumption for the development of a sustainable environment paves way for the growth of the connected street light market. Wireless technologies such as Bluetooth, Sigfox, Wi-Fi, Nb-IoT, and LTE are used to upgrade LED lighting on highways and freeways into smart street light solutions
- Initiatives for the design of cost-effective lighting solutions is underway in the connected street light market. Adoption of next-gen technologies such as IoT and AI is leading to expanded range of distributed intelligence (DI) products ecosystem to storm the connected street light market landscape. Grid operators are using AI applications for connected street light solutions that delivers predictive insights to utilities to balance demand and supply of electricity.
- Consistent advancement and miniaturization of electronic components have led to decline in cost and size of street light, which is favorable for the adoption of connected street light systems
- Advancement in smart lighting that adjusts light intensity depending on weather conditions and volume of traffic is opening new frontiers in the connected street light market
- Advent of solar-powered connected street light has helped to reduce operational and maintenance costs significantly. China, India, and some countries in Africa are rapidly switching to solar-powered connected street light solutions for extensive cost savings, and advantage of upgrade from conventional lighting to smart lighting in hard-to-reach industrial locations.
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Connected (Smart) Street Light Market – Growth Drivers
- Enormous advantages of high energy-efficiency and improved control of public lighting leading to immense reduction in power consumption fuels the growth of connected street light market
- Use of a range of wireless technologies to upgrade LED lighting solutions to connected street light solutions on freeways and highways in developed and developing countries stimulates the connected street light market
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Connected (Smart) Street Light Market – Key Players
Some of the key players operating in the connected street light market are;
- Acuity Brands Lighting Inc.
- InteliLIGHT
- Reliance Jio Infocomm Ltd.
- Signify Holding
- Thai Toshiba Lighting Co. Ltd.
- gridComm Plc.
- Quantela Inc.
- Sensus
- Telensa Inc.
- TVILIGHT Projects B.V.
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The connected (smart) street light market is segmented as follows;
Connected (Smart) Street Light Market, by Offering
- Hardware
- Light
- LED
- CFL Light
- Sodium Vapor Light
- Others (Incandescent Light, Halogen Light, etc.)
- Light
- Drivers and Ballast
- Sensors
- Switches
- Controllers/Relays
- Software
- Services
Connected (Smart) Street Light Market, by Connectivity
- Wired (Power Line Communication)
- Wireless
Connected (Smart) Street Light Market, by Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- U.K.
- Germany
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific (APAC)
- China
- India
- Japan
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- GCC Countries
- South Africa
- North Africa
- Rest of Middle East & Africa
- South America
- Brazil
- Argentina
- Rest of South America
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