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Smart Street Lighting Market Segmented By Wired, Wireless Connectivity in Traditional and Renewable Energy, Solar Energy Source in LED, CFL, Incandescent Type
The main design feature in the smart street lighting is the feature of energy efficiency. Complete smart street lighting systems consists usually of light emitting diode lamps, control units and sensors that are set up in each of the lamp poles or a designated cluster of lamp poles, means of communication and a central application system. Such type of apparatuses are connected by means of a consistent and protected wireless or wired network that can enable two way communication for control and monitoring operations. Smart street lighting systems are able to detect maintenance and lighting failure problems in real time and this enables faults to be corrected in a time bound manner and thereby ensure higher quality of services. This also eliminates the necessity of regular maintenance related checkups.
In addition, smart street lighting systems are able to transmit information to a centralized management system that monitors the various parameters such as voltage, light, current, temperature, etc. Such kind of two-way communication enables continuous monitoring of the street lights. Another important advantage of smart street lighting systems is that they are environment friendly and reduce the emission of greenhouse gases.
Persistence Market Research has prepared a comprehensive report on the global smart street lighting market that covers each and every aspect of this market. The report also studies the market performance in detail across several regional markets. The report on the global smart street lighting market contains a historical analysis of the market for a time period of four years starting from the year 2012 and ending in the year 2026. Also, the market numbers in the global smart street lighting market have been projected for a time span of nine years starting from the year 2017 and ending in the year 2026.
As per the data provided by Persistence Market Research, the global smart street lighting market is projected to display a robust CAGR. As per the report, the global smart street lighting market was estimated to be valued at nearly US$ 1,000 Mn in the year 2017 and is poised to be valued at nearly US$ 4,300 Mn by the end of the year 2026.
The LED sub-segment in the type category of the global smart street lighting market is anticipated to exhibit a robust CAGR of 21.3% during the period of assessment. The LED sub-segment is the most lucrative by value in the type category and was estimated to be valued at nearly US$ 500 Mn at the end of the year 2017; this segment is poised to reach a value of nearly US$ 2,700 Mn by 2026.
The CFL sub-segment is the second largest in terms of revenue in the type category, and is expected to exhibit a CAGR of 12.3% during the period of assessment. The CFL sub-segment in the global smart street lighting market was estimated to be valued at nearly US$ 400 Mn in 2017 and is poised to reach a market valuation of nearly US$ 1,050 Mn by the end of the period of assessment in 2026.
The report includes a distinct section devoted to study the level of competition in the global smart street lighting market. Some of the top companies that have been featured in this competition landscape section include Hubbell Lighting, Inc., GE Lighting, LLC, OSRAM Licht AG, Royal Philips NV, Acuity Brands Lighting, Inc., Eaton Corporation, Schneider Electric S.E, Honeywell International, Lutron Electronics and CREE, INC.