Jul 9, 2019   SOURCE: PR NewsWire

Connected Street Lights Market is Expected to Witness a CAGR of 29.68%, 2019-2024

DUBLIN, July 9, 2019 /PRNewswire/ -- The "Connected Street Lights Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.

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The connected street lights market is expected to witness a CAGR of 29.68% over the forecast period (2019-2024). The technological advancements in the field of smart sensors and wireless technologies for smart lighting are fueling market growth.

    --  The market for connected street lights is growing at a significant pace
        across the world, primarily due to the emergence of smart cities,
        increased adoption of Internet of Things devices and adoption of Li-Fi
        networked communication technology.
    --  Smart street lighting systems comprise of many useful features that make
        them more environment-friendly, reliable, and efficient to use. These
        Smart Street lighting systems are energy-efficient, as they mostly use
        LED lights and different possess control units and sensors in all the
        lamps, which enable them to transmit data to the central controlling
        system.
    --  The increase in smart cities projects is boosting the market as they
        make use of new smart devices, which could help to monitor energy
        consumption, traffic flows, and water levels, etc. The effective use of
        these new technologies in Smart Cities is totally dependent on the
        infrastructure development and smart supply chain.
    --  However, the lack of awareness among the end users is challenging the
        market as the adoption will rapidly increase if more and more end users
        came to know about the major advantages of connected street lights
        systems.

Scope of the Report

The IoT enabled connected street lights cut costs and support the deployment of smart city applications. Smart street lights enable the city officials to increase and decrease illumination levels at different times of the day or night and also in response to weather events. Cities can also use it to develop follow-me strategies in which the street lights are turned on only in response to specific pedestrian or vehicle activity.

Key Market Trends

Increasing Investments in Smart Cities to Drive the Market

    --  With the expanding population around the globe, an increase in people
        living in urban areas, including the overall growth of urban population
        (81% of the total population that is living in cities) is one of the
        major drivers for the adoption of smart and intelligent solutions.
    --  The primary reason behind the growth of modern cities - smart cities is
        the need for an effective solution for managing city resources.
        Governments across various countries are collaborating and partnering
        with each other in order to transform into a collaborative and
        integrated service delivery model from the traditional silo-based model.
    --  As the connected street lights market is directly related to the number
        of smart city projects, more the number of smart cities around the world
        would result in higher demand for connected street lights.
    --  For instance, the central government of India has approved a budget of
        USD 7.8 billion to be spent over a five-year period from 2015 - 2020 on
        smart cities initiatives, in 100 designated cities in India, to promote
        cities that provide core infrastructure and give a decent quality of
        life to its citizens.

North America to Witness a Huge Demand for Connected Street Lights

    --  The North American region currently holds the largest market share in
        the market and is expected to witness strong growth in demand for
        connected street lights during the forecast period.
    --  The North American region also provides a suitable environment for
        startups and SMEs, with favorable government regulations and compliance.
        Owing to this, enterprises are growing rapidly in the North American
        region and witnessing a heavy demand for the connected street lights and
        thus driving the market.
    --  The major trends responsible for the increased growth of Connected
        Street Lights in the North American region include the growing adoption
        of Li-Fi networked communication technology and the increasing number of
        cities across the United States and Canada are starting to implement
        smart traffic projects.
    --  Additionally, the growth is significant, due to the high concentration
        of government initiatives that majorly drive the connected street lights
        markets.

Competitive Landscape

The connected street lights market is highly competitive because of the presence of many players running the business in national as well as international boundaries. The market is mildly concentrated and the key strategies adopted by the major players are product innovation and mergers and acquisitions to increase their reach and stay ahead of the competition.

    --  Apr 2018 - Telensa entered into a partnership with the government of
        Hong Kong to replace 600 streetlights in Yuen Long. Under the part of a
        pilot scheme, which is expected to introduce more sophisticated and
        intelligent street lighting systems to the entire region's urban
        infrastructure.

Key Topics Covered:

1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET OVERVIEW

5 MARKET DYNAMICS
5.1 Introduction to Market Drivers and Restraints
5.2 Market Drivers
5.2.1 Increasing Demand for Energy-efficient Systems
5.2.2 Growing Popularity of Smart City Initiatives
5.3 Market Restraints
5.3.1 Cost and Design Challenges
5.4 Value Chain Analysis
5.5 Industry Attractiveness - Porter's Five Force Analysis

6 MARKET SEGMENTATION
6.1 By Component
6.1.1 Hardware
6.1.2 Service ( Professional and Managed)
6.2 By Application
6.2.1 Traffic Monitoring
6.2.2 Environmental Monitoring
6.2.3 Video Surveillance
6.2.4 Other Applications
6.3 Geography

7 COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 General Electric Co.
7.1.2 Koninklijke Philips N.V
7.1.3 Echelon Corporation
7.1.4 Osram AG
7.1.5 Cisco System Inc.
7.1.6 Triliant Holdings Inc.
7.1.7 AxiomTek
7.1.8 Tech Mahindra Limited
7.1.9 Schrder Group GIE
7.1.10 Silver Spring Networks Inc.
7.1.11 Telensa Ltd

8 INVESTMENT ANALYSIS

9 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information about this report visit https://www.researchandmarkets.com/r/m3kt5y

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