Smart Street Lighting Market in India to grow at a CAGR of 42.2% during the period 2016–2022 to aggregate $1,868.9 million by 2022
The Indian infrastructure is developing, the demand for smart city and smart home are strengthing the market; leading connectivity technologies segment to hold the majority of the share and reach $412.6 million by 2022, while network components market will reach $674.6 million
Infoholic Research LLP, a global market research and consulting organization, has published a study titled “Smart Street Lighting Market in India: Drivers, Opportunities, Trends, and Forecasts, 2016–2022” (June 2016).
According to Infoholic Research, smart street lighting will change the lifestyle of the people across the world. Street lights are important for its visibility and safety of the people in the society and hence the smart street lighting is environment-friendly and energy-saving solutions. For continuous operation of lighting during night time, more amount of electricity is required and it also produces too much heat and carbon emission is high. In order to reduce the electricity consumption and wastage of energy, the LED, and solar based smart street lighting system have been started adopting in India. The market is expected to grow at a CAGR of 42.2% during the period 2016–2022 to touch an aggregate of $1,868.9 million by 2022. In India, the smart street lighting is at the nascent stage and is expected to grow rapidly in the next 2 years. New installation projects for smart street lighting have been started since last year and many more projects for replacing street lights are expected in the coming years in urban and rural areas of India.
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“Smart Cities and Smart Homes will drive the smart street lighting market and also ensure the penetration of cloud based smart street lighting in the near future. Due to huge ROI estimations, more and more smart street lighting projects are handled by PPP model.” – Tariq Ahmed. Shaik, Research Manager at Infoholic Research
The connectivity technologies being used today in street lights are helping in real time monitoring of the street. This is supporting in providing better security to the citizens. Currently, Wi-Fi, Bluetooth, Power Line Communication (PLC) and RF technology are used and it is expected that in the coming years, Wi-Fi enabled poles will be used in order to provide better connectivity services to the connected world. The lighting lamps play a major role in the smart street lighting. With the passage of time and growing awareness, slowly the traditional lighting lamps have started getting replaced with the smart energy efficient lighting lamps. It is expected that more than 80% of the street lights will be replaced by LED lamps by 2025 and will be one of the fastest growing lamps markets across the world. The smart street lighting network components are classified as sensors, ballasts, and lamp controllers. At present, sensors have the major share of the network components market and are expected to continue to dominate the market in the coming years.
“Smart street lighting provides improved visibility, environment-friendly and energy saving solutions. Moreover, governments, municipalities, and local bodies will shift their focus on smart street lights to cut down the electricity and maintenance cost.” – Sathya V, Research Analyst at Infoholic Research
The “Smart Street Lighting Market in India: Drivers, Opportunities, Trends, and Forecasts, 2016–2022” report is segmented by connected technologies, lighting lamps, and network components. If we analyse the market by connected technologies, the major share of the revenue comes from Wi-Fi (42.88%), followed by Bluetooth (42.47%) and radio frequency (42.21%).
Image: Major share of the revenue based on connected technologies
If we analyse the market by lighting lamps, the major share of the revenue comes from LED lamps, CFL lamps, and HID lamps. The growth in the LED lamps led to the overall growth of the market revenue to reach $127.3 million by 2022, at a CAGR of 56.8%.
Analyse the market by Indian zones, the major share of revenue comes from the urban zone and is expected to reach $1,304.8 million by 2022 due to growing urbanisation and population in the country.
Further the show that connectivity technologies has put up in Smart Street Lightning is staggering. What is $49.7 million market revenue in 2016 in India will catapult to $159.9 million in the year 2020. There are chances that the figure in 2020 will be reaching an insane mark.
SMART STREET LIGHTING MARKET REVENUE IN INDIA BY CONNECTIVITY TECHNOLOGIES, 2016-2022 ($MILLION)
Note: Few readings are hidden in the graph. You can find the complete report in Infoholic Research
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Scope of the Report: Smart Street Lighting in India
The research report provides details of the ongoing and upcoming smart street lighting projects in India. The smart street lighting market in the report is categorized into following segments and sub-segments:
- Connectivity Technologies: Market Size and Analysis
- Power Line Communication (PLC)
- Radio Frequency (RF)
- Lighting Lamps: Market Size and Analysis
- Incandescent lamps
- High Intensity Discharge (HID) lamps
- Light Emitting Diode (LED)
- Fluorescent lamps
- Compact FLUORESCENT Lamps (CFL)
- Network Components: Market Size and Analysis
- Lamp Controllers
The report aims to highlight key insights from providers and end-users. The report provides an in-depth analysis and forecast about the industry covering the following key features:
- The report not only highlights users’ conundrum (challenges and barriers to adopting smart street lighting) but also brings in their perspective on the market. This market has been analyzed by taking into account the key zones of India – urban and rural
- The report also provides investments for street lighting projects in India
- The analyst has rated the top six vendors Vis a Vis end user inputs on key factors. Also, the names of all the providers present in the market
- Competitive benchmarking analysis to optimize short term and long term strategy of the organizations