Smart/Connected Street Lights Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025
The current imbalance of ecosystem has transformed the traditional way of doing business. The companies are adopting ‘greener’ strategies to support the sustainable development globally.
Moreover, the public and private sectors are joining forces to encourage the adoption of smart cities worldwide. Lighting is one of the major prospects in rapidly evolving smart technologies.
The smart lighting is considered to be one of the most efficient technology contributing for energy conservation.
The lighting industry is undergoing radical transformation fueled by increasing demand for sustainable & energy-efficient solutions, development of LED lighting, and rapid improvisation in semiconductor technology. LED is considered to be the most feasible alternative compared to its counterparts owing to its ability to consume lesser energy and having longer lifespan.
Moreover, LED lights are expected to remain in adoption for a longer duration of time as there is no possible cause for its phase out since there are negligible hazardous chemicals. These lights can easily be integrated/embedded with controlling devices and are easily recyclable supporting the LED lights adoption in street lighting.
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Growing interest in controlling lighting within their facilities through smart devices and phones has strengthened the foundation of future developments in intelligent and connected lighting technologies. Although LED is the most prominent choice for connected street lights, other traditional lamps such as fluorescent lamps, HID lamps and CFLs can also be utilized into connected lighting.
Smart street lighting platform provides extended capabilities enabling cities to reduce the energy consumption and increasing cost savings. Added revenue streams related to lampposts offer potential growth opportunities over the forecast timeframe.
For instance, smart/connected poles are being installed with Volte 4G technology for improving the mobile phone coverage. Renting the poles to the cell carriers provide revenue generation opportunities to the government.
Technological advancements in connected streetlights include downtime reduction in case of malfunctioning of streetlight. The officials are instantly notified as soon as a lamp is dysfunctional, which can be rectified to reduce the downtime.
Connected street lighting as a platform provides numerous benefits to both suppliers and government. The integration of several applications in existing infrastructure can save costs resulting in lower average product costs thereby providing additional valuable services to the citizens.
The global smart street light market can be segmented by connectivity into Wi-Fi, radio frequency, Bluetooth and others. By lamps, the industry can be segmented into LED lamps, HID lamps and CFL lamps.
Europe is expected to lead the smart street light market amongst other regions. Various lighting organizations are rigorously working towards smart lighting controls deployment in private and public arenas.
In 2015, Lighting Europe Association conducted 19 events and produced about 400 scientific papers on smart lighting.
North America is anticipated to be the potential market for connected lighting over the forecast timeline. The operating costs of lighting in North America for commercial spaces is significantly higher thus adoption of smart lighting provides cost effective and efficient solution.
Furthermore, regulations and energy policies to limit the energy consumption are strictly implemented in North America supporting the adoption and development of connected street lights market in the region.
Telensa, Osram, Philips, General Electric, Wipro, Echelon Corporation, Tvilight, Tech Mahindra, Sierra Wireless, Verizon Enterprise and Sunview LED are the prominent manufacturers and service providers of the connected street light market. The companies are focusing towards targeting government and other associations for the adoption of smart street lights.
For instance, in November 2016, Philips Lighting announced to install over 90,000 connected street lights in Jakarta. The company also set a target of connecting about 430 light points per day making the project duration to complete in seven months.
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