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Forecasted growth of smart street lighting market to reach 28% by 2023

The Asia Pacific region is expected to experience the highest and fastest growth of smart street lighting which will be driven by increased technology adoption and awareness of governments.

The global connected street lighting market is expected to grow by more than a quarter within the next four years. The forecasted compound annual growth rate (CAGR) is 28 per cent which is expected to come from the rise of smart cities.

Technavio’s global smart street light analysis showed that the Asia Pacific region will have the fastest growth rate during 2019 and 2023. The research report segments the market by geography (Europe, North America, APAC, South America and MEA) and connectivity (wired and wireless).

Technavio, the global tech research and advisory firm, has said that the continuous use of street lighting at night caused an increase in electricity consumption and carbon emission. Due to this, governments in the Asia pacific region have decided to deploy wireless smart street lighting systems which essentially enable city authorities to decrease energy cost and carbon emissions.

However, the wired street lighting market is expected to still dominate the market over the forecast period as it does now in most countries. The emergence of wireless Smart Street lights will contribute to the decreased demand in wired ones eventually, but slowly, noted Technavio.

This is mainly due to the fact that wireless systems offer better lighting, surveillance and more value-added applications to the existing wired setup.

The Technavio report read, “The wired connected streetlights use programmable logic controller (PLC), which is the most secure communication module and is better than a wireless communication module such as Bluetooth. However, the upfront cost of PLC-based wired connected streetlight systems that work on a wireless communication module. As a result, the adoption of wireless streetlights is expected to increase significantly during the next few years.”