A new comprehensive study titled “Global Market Study on Smart Street Lighting: LED Anticipated to be the Most Lucrative Type During 2017 – 2026” has recently been added to the database of Market Research Reports Search Engine (MRRSE). According to the report, the global smart street lighting market is likely to grow at a CAGR of over 17% and reach a valuation of nearly US$ 4.3 Bn by end of 2026.
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According to the report, the energy efficiency features of smart street lighting is promoting their demand among governments and private entities around the globe. Smart street lighting is advanced and offers a host of benefits over traditional street lighting. The smart street lighting is equipped with sensors, LED lamps, and sensors that offer better light quality and lower downtime. These factors are likely to boost the demand for smart street lighting during the assessment period.
The report segments the global smart street lighting market on the basis of type, end user, connectivity and region. By type, the global market has been sub-segmented into incandescent, CFL, LED and others. The end user segment is categorized into solar and traditional & other renwable energy. The connectivity segment is further bifurcated into wireless and wired. Geographically, the market is divided into key regions globally which are North America, Latin America, Europe, Asia Pacific Excluding Japan, Middle East & Africa and Japan.
According to the report, North America is likely to be one of the leading markets for smart street lighting market globally. The demand for smart street lighting in North America is concentrated in the US. The US is likely to remain one of the most lucrative markets for smart street lighting during the assessment period. In addition to being a lucrative market, the region is also likely to be at the forefront of research and development in smart street lighting during the assessment period.
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Asia Pacific excluding Japan (APEJ) is expected to emerge as a lucrative market for smart street lighting during the assessment period. Many countries in APEJ are focusing on building smart cities, owing to which demand for smart street lighting has witnessed a spike in the recent years. Further, increasing emphasis on building infrastructure, especially roads and highways, is also inducing demand for smart street lighting in APEJ.
The report profiles some of the leading players operating in the market. Some of these players are CREE, INC, Honeywell International, Lutron Electronics, Acuity Brands Lighting, Inc, Schneider Electric S.E, Eaton Corporation, GE Lighting, LLC, Royal Philips NV, OSRAM Licht AG and Hubbell Lighting, Inc.
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