Press Release

Hardware Segment to Dominate Global Connected (Smart) Street Light Market till 2024

Surging demand for energy-efficient lighting systems to drive global connected (smart) street light market through 2024 

According to TechSci Research report, Global Connected (Smart) Street Light Market By Component, By Networking Technology, By Region, Competition, Forecast & Opportunities, 2024, global connected (smart) street light market is projected to grow at a CAGR of over 19.47% during the forecast period. Street light market is undergoing transformation as traditional street lights are being replaced by smart street lights. Smart lighting helps to reduce energy consumption and possesses longer lifetime. Now a days, LED and other lightings are networked with communication technologies to transform them into connected street lights.

Browse 20 market data Tables and 102 Figures spread through 110 Pages and an in-depth TOC on "Global Connected (Smart) Street Light Market"

Global connected (smart) street light market can be segmented based on component and networking technology. Component can be further segmented into hardware, software and services. Hardware segment is the integral element of the smart street light market and includes light source, drivers and ballast, sensors, switches, controllers and others. The segment is expected to register strong growth during the forecast period, owing to technological advancements and increasing focus of people towards conserving energy. 

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Signify Holding, Citelium S.A., Huawei Technologies Co., Ltd., Echelon Corporation and Current, powered by GE, Telens, Osram Licht Group, FLASHNET SA, Regent Power, LLC, Acuity Brands Lighting Inc., Led Roadway Lighting Ltd., etc., are the leading players operating in global connected (smart) street light market. Companies operating in the market are using organic strategies such as product launches and mergers and collaborations in order to register positive growth in the market. Signify Holding N.V. has launched CityTouch, an end-to-end street lighting management system. The company partnered with Vodafone to create an M2M-based municipal connecting lighting system.

“Europe and North America are the major regions in the market due to early adoption of technologies, favorable government policies and smart city initiatives. Smart street lighting helps to cut costs up to one-third through intelligent on/off switching and targeted progressive dimming, which is expected to aid global connected (smart) street light market through 2024.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

Global Connected (Smart) Street Light Market By Component, By Networking Technology, By Region, Competition, Forecast & Opportunities, 2024 has evaluated the future growth potential of connected (smart) street light market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global connected (smart) street light market.

About TechSci Research

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