Advances in Technologies Widen Market Opportunities for Connected (Smart) Street Lights Use March 09, 2022
The global connected (smart) street lights market shows a substantially fragmented competitive landscape due to the presence of several players dominating the global market as analyzed by Transparency Market Research (TMR). The key players in the market are making constant efforts to improve and introduce new products in the market. The incidence of strong monetary gains with the presence of strong competitive landscape will assert to accomplish higher growth of connected (smart) street lights market in coming years. Some of the few players in the market are Silver Springs Network Inc., Acuity Brands Lighting Inc., EnGo PLANET, Twilight Citelum S.A., OSRAM Licht Group, Flashnet SRL, Dimonoff Inc., General Electric Co., Philips Lighting N.V., Schreder Group, Echelon Corporation, Toshiba Lighting, Led Roadway Lighting Ltd, and Telensa Ltd.
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As per the analysis done by TMR, the connected (smart) street lights market is expected to show a significant rise in its valuation by reaching up to US$ 3.71 bn during the forecast period starting from 2017 to 2025. The market is also projected to show remarkable progress with a rising CAGR of 16.0% in the forecast period. On the basis of connectivity, wireless segment is anticipated to dominate the global connected (smart) street lights market. The main reason for this growth is technological developments that have given a better quality of lighting by using wireless medium. Moreover, geographical significance for connected (smart) street lights market is seen in Europe holding the leading position. During the forecast period, Asia Pacific is projected to lead the market at 18.6% of CAGR on the basis of revenue.