Connected (Smart) Street Lights Market Driven by Incessant Demand for Sustainable Lighting Solutions
September 21, 2017
The global connected (smart) street lights market in terms of geography is divided into North America, Asia Pacific, Europe, and South America. Of them, Europe currently holds the leading share in the overall market. Asia Pacific, on the other hand, is expected to display relatively faster adoption rate of connected (smart) street lights on grounds of increasing demand for LEDs to reduce energy consumption. These factors will account Asia Pacific to register the leading CAGR over the forecast period between 2017 and 2025.
Among the several factors driving the global connected (smart) street light market, the increasing awareness of energy conservation and demand for efficient lighting solutions is a key one. Lighting is one of the rapidly evolving areas of smart technologies as it accounts for almost 40% of a city’s energy consumption.
The high efficiency and low power consumption virtues of LED are one of the key factors facilitating the growth of connected smart street lighting market. The development of smart cities across many nations worldwide is leading utility companies and government institutions in these countries to look for smart lighting solutions that can help reduce energy costs, reduce carbon emissions, and help boost overall efficiency. This is acting in favor of connected (smart) street lighting market. Apart from this, connected (smart) street lighting is advantageous as it as integration of multiple sensors with intelligent lighting control technologies.
