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Connected Street Lights Market: Asia-Pacific to Show Tremendous Growth in Future

The connected (smart) street lights market is primarily driven by the ability of connected (smart) street lights to address the imperfections of traditional street lights.
Published 26 March 2018

The competitive landscape of the connected (smart) street lights market is substantially fragmented due to the presence of several key players that operate in global as well as regional markets. Some of the prominent leaders this market are: General Electric Co., Philips Lighting N.V., Acuity Brands Lighting Inc., Toshiba Lighting, Echelon Corporation, Led Roadway Lighting Ltd., Flashnet SRL, amongst many others.

As per a report published by Transparency Market Research, the global connected (smart) street lights market is expected to exhibit remarkable growth from 2017 to 2025. This growth is anticipated to occur at a steady CAGR of 16.0% in terms of revenue. In 2016, the market had a valuation of US$3712.5 mn. In terms of volume, the market is likely to display a robust CAGR of 20.1% during the forecast period. Both from the perspective of strong monetary gains as well as the strong competitive landscape, the market for connected (smart) street lights market is surely expected to grow tremendously in the future.

Wireless Connectivity Segment to Show Promising Growth in Future

Based on geography, connectivity, component criteria, the global connected (smart) street lights market is divided into several segments. For example, from the perspective of connectivity, the connected (street) lights market is divided into wired and wireless segments. Of these, the wireless connectivity segment is anticipated to lead in the next few years. This is mainly due to the rising technological advancement that promise better quality of lighting using a wireless medium. Based on the component criteria, the major segments are hardware, services, and software, which are further divided into several other sub-segments.

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Europe bags the top market share in the connected (smart) street lights market from a geographical perspective. As compared to Europe, North America holds the second spot for regarding market valuations. The main reasons for this market monopoly involves a growing interest by government agencies and other firms in these regions to actively take part in setting up appropriate connected street light arrangements. This is due to the ability of the firms to recognize the high importance of these lights as compared to the typical street light type.

The information presented in this review is based on a TMR report, titled “Connected (Smart) Street Lights Market (Connectivity - Wired (Power Line Communication) and Wireless; Component - Hardware (Sensors and Controllers/Relays), Software, and Services) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025”

View TOC of This Report: https://www.transparencymarketresearch.com/report-toc/30914

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