Smart Street Lighting market is anticipated to show healthy double digit CAGR in near future. Street lightning is critical for every country but consumes up to 30-40% of overall power consumed in the city. As the street lights contribute to a large percentage of power consumption of the country, it is needful to save the energy resources by adopting latest technologies such as smart street lightning. Smart street lightning refers to lightning changing of legacy lights to LED lights and adding various smart controls such as the intensity of lights vary with the amount of traffic present. As there is a growing need for such adaptations these days, the smart street lightning market is expected to boost exponentially in the near future.

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Global Market of Smart Street Lightning: Drivers and Restraint

Owing to an improved safety and security of the citizens, and rising government initiatives towards the smart city projects, the market for smart street lightning is anticipated to witness healthy growth in near future. Apart from an increased security, smart street lightning also helps to save a large amount of power consumption of the overall cities, and reduce even the maintenance cost. Also, the smart street lightning reduces the greenhouse gas emissions caused by the traditional lightning. As a result, Governments of nearly every region are focusing on developing energy-efficient infrastructure thereby stepping towards reducing energy consumption and carbon foot prints, due to which surge in smart city projects can be anticipated to drive the growth of Smart Street lightning projects during the forecast period.

Also, the smart street lightning projects are encouraged by the addition of numerous new technologies such as EV charging, smart parking, air quality monitoring and many more. as these features add up to convenience for the individuals, sufficient adoption of the smart street lightning can be expected, which will boost the market in near future.

However, factors such as lack of standardization and High installation cost can thwart the Smart Street Lightning market growth in underdeveloped economies while the Smart Street Lightning still are expected to witness high demands in the developing regions owing to rapid urbanization and need of improved infrastructure in developing countries.

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Global Market of Smart Street Lightning: Segmentation

Segmentation on basis of Connectivity Solutions:

The Smart Street Lightning connectivity solutions can be segmented into Power Line Communications (PLC), Radio Frequency (RF), Wi-Fi, Bluetooth

Global Market of Smart Street Lightning: Key Players

Acuity Brands, Hubbell Control Solutions, Databuoy, DimOnOff, Philips Lighting, Flashnet, Regent Power, gridComm and Huawei are some of the key players in the Smart Street Lightning market.

Other emerging players in Smart Street Lightning market include: GE Lighting, Rongwen, Sensus, Citelum, Echelon Corporation, Silver Spring Networks, Telensa and Bajaj Electricals.

Key Development

In September 2017, Acuity Brands and Silver Spring Networks, an Internet of Things (IOT) network provider entered into a strategic partnership. As a result of the partnership, both of the companies will work together in order to develop innovative solutions and increase the capabilities of smart street lightning with new products and work as channel partners for each other.

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Segmentation on basis of regions:

The Smart Street Lightning market is sub-segmented into 7 key regions- North America, Latin America, East Europe, West Europe, Asia-Pacific excluding Japan, Japan and Middle East & Africa.

The Smart Street Lightning in Europe is the leading revenue controller in the world and is expected to show an elevated CAGR in the near future. Also, government initiatives and regulations, being the primary factors are expected to drive the healthy market growth in North America followed by Asia Pacific.