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Smart Street Lightning Market poised to be valued at nearly US$ 4,300 Mn by the end of the year 2026

Smart street lighting systems consist of various features that make them reliable, environment friendly and efficient to use. Smart street lighting systems are energy efficient, predominantly using LED lighting and possess control units and sensors in all the lamps or group of lamp poles, in order to enable them to transmit data to the central controlling system, thereby facilitating two way communication.

In this manner, smart street lighting systems are able to transmit information such as which lamps have stopped emitting light so that they can be replaced. Other variables that can be monitored in a smart street lighting system include temperature, light, current, etc. thus transmitting real-time information to the centralized system, making the maintenance of street lighting systems easy to accomplish and also cheaper than routine maintenance. Another important feature of smart lighting systems is that these are environment friendly and reduce the emission of harmful greenhouse gases.

A new report prepared by Persistence Market Research titled ‘Smart Street Lighting Market: Global Industry Analysis 2012-2016 and Forecast 2017-2026’ studies the performance of the global smart street lighting market over a nine year assessment period starting from the year 2017 and ending in the year 2026. The report presents the forecast by value of the global smart street lighting market and provides important information regarding the market dynamics operating in this market such as the drivers, restraints, opportunities and trends.

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As per the data provided by Persistence Market Research, the global smart street lighting market was estimated to be valued at nearly US$ 1,000 Mn at the end of the year 2017 and is slated to reach a valuation of nearly US$ 4,300 Mn at the end of the assessment period in 2026, and in the process exhibit a CAGR of 17.5% during 2017-2026.

smart street lighting market

Wired Connectivity Segment Largest in Terms of Revenue Share

The wired segment in the connectivity category of the global smart street lighting market is the largest in terms of value and is poised to exhibit a CAGR of 14.7% during the period of assessment. The wired segment is projected to reach a value of nearly US$ 2,600 Mn at the end of the period of assessment.

Traditional and Other Renewable Energy Segment by Energy Source to Lead in Terms of Revenue

The traditional and other renewable energy segment in the energy source category of the global smart street lighting system market is expected to exhibit a CAGR of 16.9% during the period of assessment. The traditional and other renewable energy segment was estimated to be valued at nearly US$ 960 Mn in the year 2017.

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LED Segment by Type Slated to Exhibit the Fastest Growth Rate

The LED segment in the type category of the global smart street lighting market is poised to exhibit the fastest CAGR of 21.3% during the period of assessment. The LED segment is forecasted to reach a market valuation of nearly US$ 2,700 Mn by 2026 end.

North America Smart Street Lighting Market to Emerge the Largest in Terms of Value Among Other Regional Markets

The smart street lighting market in North America is the largest in terms of revenue and is likely to exhibit a CAGR of 15.5% during the period of assessment. The North America regional market is likely to reach a valuation of nearly US$ 1,250 Mn by the end of the period of forecast in 2026.

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Business intelligence is the foundation of every business model employed by Persistence Market Research. Multi-dimensional sources are being put to work, which include big data, customer experience analytics, and real-time data collection. Thus, working on “micros” by Persistence Market Research helps companies overcome their “macro” business challenges.

Persistence Market Research is always way ahead of its time. In other words, it tables market solutions by stepping into the companies’/clients’ shoes much before they themselves have a sneak pick into the market. The pro-active approach followed by experts at Persistence Market Research helps companies/clients lay their hands on techno-commercial insights beforehand, so that the subsequent course of action could be simplified on their part.

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Opportunity Assessment of Smart Lighting Market Reveals Profitable Avenues for Manufacturers

The global smart lighting market is segmented on the basis of product type, light source, communication technology, region and application. Persistence Market Research has come up with a new report titled “Smart Lighting Market: Global Industry Analysis (2012-2016) and Forecast (2017-2025)” that tracks the performance of the various segments of the global smart lighting market for a projected period of eight years between 2017 and 2025. The global smart lighting market is expected to witness high revenue growth during the forecast period. This growth is attributed to the increasing adoption of better lighting solutions globally. The global smart lighting market was valued at US$ 6,838.2 Mn in 2016, and is projected to reach US$ 40,388.6 Mn by 2025 end. North America and Europe were the dominant markets in 2016 in terms of revenue in the smart lighting market. Asia Pacific is expected to dominate in terms of CAGR during the forecast period.

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Global Smart Lighting Market: Drivers

  • Real estate vendors are increasingly adopting smart lighting solutions leading to a surge in demand globally
  • Connected lighting development for smart cities is a big growth fuelling aspect
  • Rapid urbanization is driving the adoption of smart lighting products across the globe
  • Increasing number of green building projects and development of smart lighting infrastructure are other factors positively impacting market revenue growth
  • Government’s partnership with key players especially in the MEA region is also a significant growth driver

Global Smart Lighting Market: Forecast by Region

North America, Latin America, Europe, APAC and MEA are the five regions extensively covered in this report. The APAC smart lighting market is expected to witness a relatively high growth rate over the forecast period. Revenue from the smart lighting market in North America and Europe collectively accounted for over 50% of the global smart lighting market revenue in 2016. In terms of value, APAC is projected to be the most attractive regional market in the global smart lighting market during the forecast period. The market in APAC is also expected to register high Y-o-Y growth rates throughout the forecast period.

Global Smart Lighting Market: Segmental Analysis

The global smart lighting market is segmented into four categories. On the basis of product type, the global market for smart lighting is segmented into fixture, lighting control and others. In terms of value, the fixture segment is projected to be the most attractive in the global smart lighting market during the forecast period. In terms of value, this segment is expected to expand at a CAGR of 23.5during the forecast period.

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source segment consists of LED, CFL, and incandescent. In terms of value, the LED segment is expected to increase at a high CAGR during the forecast period.  In 2016, the LED segment was valued at US$ 3,259.6 Mn, and is expected to witness steady growth in terms of revenue throughout the forecast period.

Communication technology segments include wired smart lighting and wireless smart lighting. The wireless smart lighting segment is expected to register high Y-o-Y growth rates throughout the forecast period. In terms of value, this segment is anticipated to expand at a CAGR of 24.0during the forecast period.

By application the market is segmented into indoor and outdoor. Indoor segment is sub-segmented into commercial/industrial and residential, while outdoor segment is further segmented into street lighting, architectural lighting, lighting for public places and others. Currently, the indoor segment dominates in terms of revenue, owing to the adoption of advanced lighting solutions.

Companies Operating in the Global Smart Lighting Market

  • Prominent Players
  • CREE, INC
  • Hubbell Lighting, Inc.
  • GE Lighting, LLC
  • OSRAM Licht AG
  • Royal Philips NV
  • Acuity Brands Lighting, Inc.
  • Honeywell International Inc.
  • Panasonic Corporation
  • Schneider Electrical S.E
  • Eaton Corporation
  • Other Players
  • Leviton Manufacturing Co., Inc
  • Lutron Electronics Co., Inc
  • Lifi Labs Inc.
  • Disano Illuminazione S.p.A
  • Switchmate Home LLC
  • Glamox lighting 
  • IKEA 
  • EGLO Leuchten GmbH
  • Others

For in-depth competitive analysis, buy [email protected] https://www.persistencemarketresearch.com/checkout/3892

About us:

Business intelligence is the foundation of every business model employed by Persistence Market Research. Multi-dimensional sources are being put to work, which include big data, customer experience analytics, and real-time data collection. Thus, working on “micros” by Persistence Market Research helps companies overcome their “macro” business challenges.

Persistence Market Research is always way ahead of its time. In other words, it tables market solutions by stepping into the companies’/clients’ shoes much before they themselves have a sneak pick into the market. The pro-active approach followed by experts at Persistence Market Research helps companies/clients lay their hands on techno-commercial insights beforehand, so that the subsequent course of action could be simplified on their part.

“Strategic assets” form the repository of Persistence Market Research’s industry-specific solutions. This is evident from the range of clients – right from fast-growing startups to Fortune 500 companies looking upon Persistence Market Research as their trusted solution-partner.

 

Contact us:

Persistence Market Research

305 Broadway, 7th Floor
New York City, NY 10007
United States

Ph.no. +1-646-568-7751

E-mail id- [email protected]