The report of Intelligent Street Lighting Systems Market by Component (Hardware, Sensors, Controllers, Double Coupling, Thomson Coupling, Other), Application (Traffic Monitoring, Environmental Monitoring, Video Surveillance, Other Application), Connectivity (Wired, Wireless), and Region (North America, Europe, Middle East & Africa, South America, Asia Pacific) is expected to reach US$ xx Mn. by 2027, at a CAGR of 20.85 % during a forecast period.
Technological development in smart and connected systems is revolutionizing modern infrastructure. The Intelligent street lighting system is connected; owing to demand smart infrastructure in emerging economies such as Brazil and India regions needed grid base electric connection to Electric Street light. The cost of installation of such a system for the street is costlier, which has created a demand for solar-powered connected street light system majorly promoted by major economies. The solar-powered street-lights adoption is growing at a rapid rate during the forecast period, owing to the ability to operate at low power and cost-efficiency is expected to continue growth rate. Solar-powered LED lights electric flow is measured and controlled by the innovation of technology and IoT devices, the remote connectivity and control of streetlights can be done with the use of networks. In countries such as China and India in the Asia Pacific region, Some African countries are showing interest in investing in solar streetlights.
Global Intelligent Street Lighting Systems Market: Recent development
In April 2019, Samsung SDS and Telensa are taking initiative for smart city development, the collaboration of Samsung SDS and Telensa working on the installation of Intelligent Street Lighting Systems. The first initiative was taken in Korea’s town, the wider deployment of the project will continue in Asia Pacific and US region.
In April 2019, Itron Inc and VINCI Energies’ Electrix& Transport Canberra city service working together to create services based on industrial IoT support Intelligent Street Lighting Systems and smart energy solution in Australia’s capital city of Canberra. The project is a major individual project and First Australia and Oceania contract for energy performance.
March 2017, Energy-efficient LED street light offered by Philips in Ameland, Netherland, and Philips ClearSky has light spectrum especially polite to migratory birds. The building of such infrastructure is providing optimistic sustainability and energy saving.
Global Intelligent Street Lighting Systems Market: Drivers and Restraints
The demand for fuel-efficient systems is increasing in recent years; constantly driving the market for Global Intelligent Street Lighting Systems Market. The manufacturers are trying to reduce production to couple with the increasing demand for the cost-efficient system is contributing to the growth of the Intelligent Street Lighting Systems Market.
The development of wireless technology and sensors to development of Intelligent Street Lighting Systems coupled with strategies to grow green solutions globally and expected to grow connected street lights market.
The high initial investment is needed to incorporate this system is a major restraint in market growth. The new development of infrastructure and smart cities driving the Intelligent Street Lighting Systems Market, owing to the heavy investment by developed region.
The Intelligent Street Lighting Systems needs timely maintenance for proper functioning and the motor’s brush needed to change when worn out.
Global Intelligent Street Lighting Systems Market: Regional Overview
By region, Global Intelligent Street Lighting Systems Market is segmented into North America, Europe, Middle East & Africa, South America, and Asia Pacific. North America and Europe dominate the Global Intelligent Street Lighting Systems Market. The eco-friendly parts and equipment are increasing and also showing significant growth in recent years. The other factors are also driving regional growth of Global Intelligent Street Lighting Systems market. Development activities are going in the sector of an electronic system in atomization in industries majorly driving the market growth of Intelligent Street Lighting Systems. Asia Pacific region is also increasing market capture owing to high-quality Hardware demand increase.
Europe region is expected to show significant growth in the Intelligent Street Lighting Systems Market. Countries such as Germany, U.K, France, and Norway are countries leading in the Europe Intelligent Street Lighting Systems Market. North America region is anticipated to grow with a significant growth rate in the forecast period, owing to increased investment to provide smart parking solutions and wireless technology growth in urban areas.
Key players operating in the Intelligent Street Lighting Systems Market areHubbell 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, CREE, INC., Koninklijke Philips N.V (The Netherlands), Telensa, Silver Spring, Echelon, Cisco system, Trilliant holdings Inc., AxiomTek, Tech Mahindra.
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the Intelligent Street Lighting Systems Market. The report encompasses the market by different segments and regions, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamicsand future opportunities that might exist in the Intelligent Street Lighting Systems Market. The driving forces, as well as considerable restraints, have been explained in depth. in addition to this, competitive landscape describing the strategic growth of the competitors has been taken into consideration for enhancing the market know-how of our clients and at the same time explain Intelligent Street Lighting Systems Market positioning of competitors.
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