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(Hosting-NewsWire.com, October 17, 2019 ) Market Overview:
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Due to the rise in the demand for energy-efficient systems all around the world will grow the market for the connected (smart) street light market in the forecast period.
Connected (Smart) Street Light are devices that are used for lighting up the cities. In this, all lights are connected and have sensors which make them efficient by putting off the lights when they are not required or not in use. So, these smart connected street lights light up city streets with efficient power use.
The Connected (Smart) Street Light market is primarily driven by the growing need for energy-efficient systems like a smart street light. Increasing energy crisis globally has put the urge for the more energy-efficient systems that conserve energy. With the need for sustainable development by conservation of energy is expected to drive the market for the connected street light market over the forecast period.
However, due to the high cost of initial installation and higher maintenance cost are some of the factors that will be hampering the growth of Connected (Smart) Street Light in the forecast period.
By Components, the Connected (Smart) Street Light market is segmented into Hardware and Services. The hardware segment includes a light source, drivers and ballast, sensors, switches, controllers, and others. As hardware is the integral element of the smart street light, which will make the market grow at a higher CAGR for the hardware.
By Networking technology, the Connected (Smart) Street Light market is segmented into Narrowband, Medium band, and Broadband. The medium band has the dominant position in the Connected (Smart) Street Light market due to the reason that proves to be both reasonably affordable and technically suitable for the largest number of potentially desirable applications.
By geography, the Market is segmented into North America, Asia-Pacific (APAC), Europe, South America, and the Middle East and Africa (MEA).
Europe holds the largest market share for Connected (Smart) Street Light due to the rising urbanization coupled the governments initiate for the energy conservation in the region. Also, the increase in the investments on smart street light installation by public and private will drive the market for the forecast period. For instance, in Europe so far, only a handful of cities have installed intelligent lighting.
North America is after Europe in terms of the market share of Connected (Smart) Street Light due to the rise in commercial spaces like offices and the parking lots and also due to the high investments on the smart city development projects will be the major drivers for the smart street light market in the region.
The major players General Electric Co., Koninklijke Philips NV, Echelon Corporation, Osram AG, and Cisco System Inc. Other key players in the market include Triliant Holdings Inc., AxiomTek, Tech Mahindra Limited, Schréder Group GIE, and Silver Spring Networks Inc.
View full report: https://www.datamintelligence.com/research-report/connected-street-light-market
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