Report Indicates Smart Street Lighting Market Will Grow 40.3% By 2022

Report Indicates Smart Street Lighting Market Will Grow 40.3% By 2022

DUBLIN, Ireland — According to a recent survey report by Research and Markets, GE Lighting, Philips Lighting, Acuity Brands, Osram, and Honeywell Lighting are key players in the rapidly-growing market of “smart” street lighting.

Globally, there are about 281.4 million streetlights in the world and is expected that it will reach 338.9 million by 2025. 

Smart Street lighting is a rapidly growing lighting market. At present, a lot of countries are replacing the traditional street lights with the smart LED street lighting lamps. The traditional high intensity discharge lamps (HID) consume a lot of energy and generate lots of heat. Thus, with the growing awareness and the need to reduce the carbon footprints globally, countries have started replacing the street lights with smart LED lights. The smart street lighting poles can be turned ON or OFF through the smart devices. Most of the smart poles are enabled with motion sensors which turn ON whenever there is movement near the pole. 

According to analysts, the smart street lighting market will grow at an estimated compound annual growth rate (CAGR) of 40.3% during the forecast period 2016-2022. Europe is the biggest market for the smart street lighting followed by Americas. The countries which are leading in the smart street lighting market are Germany, UK, and US. The upcoming markets for the smart street lighting are India, China, and Poland due to the growing number of smart cities projects in these countries. 

Key players covered in this report are GE Lighting, Philips Lighting, Acuity Brands, Osram and Honeywell Lighting. The research report provides a comprehensive review of Connectivity Technologies, Lighting lamps, Network Components, Upcoming and On-Going Smart street lighting projects and Regions. 

This study covers and analyzes Smart Street Lighting Market globally. Bringing out the complete key insights of this industry, this report aims to provide an opportunity for players to understand the latest trends, current market scenario, government initiative and technologies related to the market. In addition, it helps the venture capitalist in understanding the companies better and take informed decisions. 


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