Connected Smart Street Light Market by Offering (Hardware & Software and Service), Connectivity (Wired and Wireless), Application (Traffic Monitoring, Environmental Monitoring, and Video Surveillance) - Analysis & Forecast 2019-2030
Report ID : 195 | Published Date : May 2020 | Pages : 200 | Region : Global | Report Code : ICT-15
Connected Smart Street Light Market Overview and Introduction
Connected smart street lights are embedded with technologies (Bluetooth, Wi-Fi, and others), LED bulbs, various sensors, and microcontrollers, among others. They are used in wide range of applications such as traffic monitoring, displaying information, public safety monitoring, and others. Connected smart street lights offer various advantages over traditional street lights such as low maintenance & repair costs, high power saving through flexible dimming controls, reduced light pollution, and increased lamp life. Owning to increasing awareness regarding the benefits of connected smart street lights, demand for it across the globe has been increasing considerably.
Moreover, the growing adoption of connected smart street lights in smart city projects owning to their applications, such as pedestrian monitoring, video surveillance, weather monitoring, radiation monitoring, smoke detection, monitoring pollution level, and others, is another major driving factor for market growth. For instance, in the U.S., a public-private partnership of industrialists & residents, consisting of approximately 90,000 members is undertaking smart city transformations in San Leandro, California. Under this initiative, more than 4,800 street lights will be replaced by LED smart bulbs.
However, owing to privacy problems, lack of awareness in certain areas, including the Middle East & Africa, and investment uncertainties will limit the market growth of connected smart street lights.
The global connected smart street light market can be segmented into offering, connectivity application, and regions.
Connected Smart Street Light Market By Offering
Based on offering, the global connected smart street light market can be segmented into hardware & software and service. The hardware & software segment accounts for the largest market share and is expected to continue its dominance for few years owning to new smart city projects, increasing penetration & decreasing costs of LEDs, new highway expansion projects, and others.
Connected Smart Street Light Market By Connectivity
Based on connectivity, the market can be segmented into wired and wireless. The wireless segment is expected to grow at the highest CAGR in the coming years. The growth of this segment can be attributed to the wide range of advantages that it offers over wired connections such as low maintenance & operational costs, low power consumption, ease of installation, high flexibility in terms of operations and others.
Connected Smart Street Light Market By Application
Based on application, the market can be segmented into traffic monitoring, environmental monitoring, video surveillance, and others. The traffic monitoring segment is expected to grow at the highest CAGR in the coming years. The growth of this segment can be attributed to initiatives by various governments due to growing incidents of road accidents and the growing popularity of smart city projects across the world.
Connected Smart Street Light Market By Region
Based on region, the global connected smart street light market is segmented into North America, Europe, Asia Pacific, and the Rest of the World (ROW). Europe is dominating the market owing to initiatives taken by the government to reduce power consumption and various lightning companies undertaking several research & development initiatives.
Connected Smart Street Light Market Prominent Players
Some of the prominent players in the connected smart street light market include Cisco Systems, Inc., Signify Holding., Itron Inc., Telensa, OSRAM GmbH, Schréder, Huawei Technologies Co., Ltd., and ACUITY BRANDS LIGHTING, INC., among others