North America Smart Street Lighting Market - Size
Base Year For Estimation
2023
Forecast Data Period
2024-2030
Historical Data Period
2018-2021
Source: Envision Intelligence Analysis & Experts Insights.
*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels
Smart Street Lights are important for its visibility and safety of the people in the society. Smart Street lighting provides improved visibility, energy saving solutions, and environment-friendly. Government and municipalities will shift their focus on smart street lighting to cut down the electricity and maintenance cost.
North America Smart Street Lighting Market Size & Growth:
North America Smart Street Lighting Market size is projected to reach $X Million by the end of 2024 with a CAGR of XX% during the forecast period. Key Parameters promoting the market growth include increasing awareness of energy conservation, demand for efficient lighting solutions, increase in adoption of smart street lighting, government and private organisations in these communities are making efforts to obtain the maximum efficiency of smart street light solutions, smart street lights have a higher capacity than regular street lights. Due to the high efficiency and low power consumption virtues of LED the smart lighting market will have a positive growth during the forecast period.
Because of the development of smart cities across the world and government institutions in these countries to look for smart lighting solutions that help to reduce energy cost, boost overall efficiency, and reduce carbon emissions. Smart street light systems can significantly reduce energy consumption as it can be incorporated with various sensors such as natural light sensors occupancy sensors and motion sensors.
Major restraint for smart street lighting market is lack of support infrastructure in developing and underdeveloped nations needed for smart street light solutions. Government support for infrastructure development, advances in the lighting technology, and growing dominance of off-grid segment are the emerging factors for smart street lighting market.
Networked Smart Street Lights help cities further reduce costs with their dimming
North America Smart Street Lighting Market - Growth
Source: Envision Intelligence Analysis & Experts Insights.
*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels
capabilities and reduced maintenance costs. As the costs for networked streetlights also decline, these smart streetlights will have positive growth in cities and municipalities across the globe. 89% of streetlights will have transitioned to LED, and 42% will be networked to make them smart by the end of 2024.
North America Smart Street Lighting Market Share:
North America Smart Street Lighting Market is classified by Connectivity, by Component, by Type, by Application, by geography. By Connectivity, the North America Smart Street Lighting Market is classified as wired and wireless. Among this, wired connectivity is expected to grow at a
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North America Smart Street Lighting Market - Porter's Five Force Analysis
Source: Envision Intelligence Analysis & Experts Insights.
*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels
high rate during the forecast period due to the rising technological advancements that promise a better quality of lighting using a wireless medium. Wired and Wireless connectivity includes Wi-Fi, Bluetooth, radio frequency, and power line communication. Among this, Wi-Fi is accounted for the largest market share of 42.88% followed by Bluetooth with the share of 42.48%, Radio-Frequency (42.23%).
Based on the component, these are classified as hardware and software. Hardware includes a sensor, controller/relays. Based on Application, these are classified as traditional and other renewable energy and solar.
Based on the type, these are classified as incandescent lamps, High-Intensity discharge lamps, LED Lamps, Fluorescent Lamps, and Compact Fluorescent Lamps (CFL). Among this, the LED segment is witnessed to have the highest CAGR, and this segment is the largest by value and is expected to have the highest growth rate during the forecast period. CFL segment is expected to be second largest regarding revenue, and it is witnessed to have a CAGR of 12.2%.
North America holds the second largest market share in the smart street lighting market and is expected to
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