Global Connected Street Light Market By Component, By Networking Technology, By Region, Competition, Forecast & Opportunities, 2024
NEW YORK, May 13, 2019 /PRNewswire/ -- Global Connected (Smart) Street Light Market By Component (Hardware, Software & Services), By Networking Technology (Narrowband, Medium Band and Broadband), By Region, Competition, Forecast & Opportunities, 2024
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Global connected (smart) street light market is forecast to grow at a CAGR of over 19% during the forecast period, on account of infrastructure development aimed at transforming cities into smart cities.Development of wireless technologies & sensors and new streetlights such as LED, which are more efficient than the regular streetlights is bolstering market growth.
Increasing demand for intelligent solutions for street lighting is expected to drive global connected (smart) street light market through 2024. Another factor anticipated to positively impact market growth is low cost, increasing adoption of LEDs and growing awareness among people about saving energy.
Smart or connected streetlights help cities in cutting cost by reducing maintenance cost and dimming lights.Global connected (smart) streetlight can be segmented based on component and networking technology.
Based on components, hardware segment includes light source, drivers and ballast, sensors, switches, controllers and others. As hardware segment is the integral element of the smart street light market, the segment is poised to grow at a high rate during the forecast period.
Technological innovations are resulting in demand for connected (smart) street lighting systems. Europe dominated global connected street light market in 2018, with countries such as the UK, Germany and France dominating the regional market, primarily on account of the early adoption of connected streetlights and initiatives taken by the government agencies of the region.
Major players operating in global connected (smart) street light market include Current, powered by GE, Philips Lighting, Toshiba Lighting, Citelum, OSRAM Licht Group, Signify NV, etc.Major companies are developing advanced technologies and launching new products in order to stay competitive in the market.
Other competitive strategies include mergers & acquisitions and new product developments. Philipps Lighting N.V. launched CityTouch ready luminaries, which can be integrated with the CityTouch platform to offer smart streetlights.
Years considered for this report:
Historical Years: 2014-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020–2024
Objective of the Study:
• To analyze and forecast global connected (smart) street light market size.
• To classify and forecast global connected (smart) street light market based on component, networking technology and regional distribution.
• To identify drivers and challenges for global connected (smart) street light market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global connected (smart) street light market.
• To conduct the pricing analysis for global connected (smart) street light market.
• To identify and analyze the profile of leading players operating in global connected (smart) street light market.
Some of the leading players in global connected (smart) street light market include Current, powered by GE, Philips Lighting, Toshiba Lighting, Citelum, OSRAM Licht Group, Signify NV, etc.
The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of manufacturers across the globe.
Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.
Through this technique, the analyst could include the manufacturers which could not be identified due to the limitations of secondary research. The analyst analyzed the manufacturers, distribution channels and presence of all major players across the globe.
The analyst calculated global connected (smart) street light market size using a bottom-up approach, where data for various end-user segments was recorded and forecast for the future years. The analyst sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size.
Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by the analyst.
Key Target Audience:
• Manufacturers of luminaries
• Research organizations and consulting companies
• Government bodies such as regulating authorities and policy makers
• Organizations, forums and alliances related to connected (smart) streetlight
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as manufacturers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
Report Scope:
In this report, global connected (smart) street light market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• Market, by Component:
o Hardware
Light Source
Drivers & Ballast
Sensors
Switches
Controllers
Others
o Software
o Services
• Market, by Networking Technology:
o Narrowband
o Medium band
o Broadband
• Market, by Region:
o Europe
United Kingdom
France
Germany
Italy
Spain
o Asia-Pacific
China
Japan
India
Australia
Indonesia
o North America
United States
Canada
Mexico
o South America
Brazil
Argentina
Colombia
o Middle East & Africa
UAE
Saudi Arabia
Turkey
South Africa
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in global connected (smart) street light market.
Available Customizations:
With the given market data, we offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
• Detailed analysis and profiling of additional market players (up to five).
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