About Smart Street Light
The global smart street light market is anticipated to witness significant growth over the forecast period owing to rising awareness about energy conservation and efficient lighting techniques and increasing adoption of smart street lights. The smart street lights solution is an important part of “Smart Cities Solutions”. In order to save energy and to indoctrinate economy and efficiency in the system, the solutions have to be designed and customized. Also, the need for smart communication system and real-time fault recognition makes it necessary to develop a complete solution for “Smart Street Lighting”.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 24.1% |
Leading key players are focusing on strategic partnerships to improve their products and services and also they are focusing on increasing their client base to strengthen market position and to enhance product & service offerings. Analyst at AMA Research estimates that India Players will contribute the maximum growth to Asia Pacific Smart Street Light market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Tech Mahindra (India), Phillips (India), Bajaj Electricals Ltd. (India), Eveready Industries India Ltd. (India), Havells India Ltd. (India), Syska (India), Wipro (India), Aatapaha (India), M.B. Control & Systems Pvt. Ltd (India) and Hpl India Limited (India) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are NEC Corporation (Japan), AAEON (Taiwan), Hynetic Electronics Pvt Ltd (India), TVILIGHT India (India) and Echelon (Japan).
Segmentation Overview
AMA Research has segmented the market of Asia Pacific Smart Street Light market by , Application (Environmental Monitoring, Traffic Monitoring, Smart Parking, Street Light Management, Video Surveillance, Public Messaging and Others) and Region.
On the basis of geography, the market of Smart Street Light has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Networking Technology, the sub-segment i.e. Narrow-Band will boost the Smart Street Light market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Component, the sub-segment i.e. Hardware will boost the Smart Street Light market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
The emergence of Smart Cities in Developing Region
Market Growth Drivers:
Rising Awareness about Energy Conservation and Efficient Lighting Techniques and Increasing Adoption of Smart Street Lights
Challenges:
Security and Privacy Issues in Smart Street Lighting Systems
Restraints:
Higher Costs of Installation
Opportunities:
Growing Penetration of Multiple Solution Providers
Market Leaders and their expansionary development strategies
In July 2021, Dutch firm Signify, formerly Philips Lighting, has acquired UK smart street lighting company Telensa. With Telensa, Signify adds narrow-band and Talq-compliant technology to its open and secured systems. This will enable Signify to service a broader group of customers, by making smart city infrastructure affordable to cities using the unlicensed radio space.
In October 2022, Tec Mahindra a leading provider of digital transformation, consulting, and business re-engineering services & solutions, announced its Green initiative that has been implemented across all the Tech Mahindra campuses in India. As part of the initiative, Tech Mahindra will cut down on serving meat by 20% at its offices to reduce food-related carbon footprint., and Read more at: https://cxotoday.com/press-release/tech-mahindra-announces-green-tuesday-initiative-to-reduce-food-related-carbon-footprint/
Key Target Audience
Smart Street Light Solution Providers, Automation Companies, Governmental Bodies, End-User Companies, System Integrating Companies, Safety Light Curtain Providers, Research Organizations and Technology Investors
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.