Comments Off

Smart Street-Lighting Market In India To Grow At A CAGR of 42% During The Period 2016-2022 To Aggregate $1,868 Million By 2022

  • India’s fast-developing public infrastructure – demand for roads and highways, smart cities and smart homes – driving adoption of smart street-lighting
  • $1,304.8 million in smart street-lighting spending expected from India’s cities and towns by CY 2022 due to growing urbanization in the country.
  • Network Components market to lead with $674.6 million revenues by CY 2022, Connectivity Technologies segment to touch $412.6 million, while Lighting Lamps will aggregate $127.3 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).

image005 (6)

According to Infoholic Research, smart street-lighting will change lifestyles across the world. Street-lights are important for ensuring adequate visibility and safety of all stakeholders and road users – commuters, pedestrians, school children, women and senior citizens, roadside hawkers, civic body staff, construction crews etc. At the same time, smart street-lighting needs to be environment-friendly and deploy optimal energy-saving solutions. In order to reduce electricity consumption and wastage of energy, LED and solar powered smart street-lighting systems are being adopted 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, smart street-lighting is at the nascent stage and is expected to grow rapidly over the next two years. New installation projects for smart street-lighting have been launched starting 2015 and many more projects for replacing street-lights are expected in the coming years in urban and rural areas of India. As a result, the major share of revenues for India are expected to be realized from urban zones, which are expected to aggregate $ 1,304.8 million in smart street-lighting spending by CY 2022 due to growing urbanization in the country.

“Smart Cities and Smart Homes are expected to drive the smart street-lighting market and also ensure the penetration of cloud-based smart street-lighting in the near future. Due to long gestation RoI estimates, more and more smart street-lighting projects are likely to be implemented via the PPP model,” stated Tariq Ahmed Shaik, Research Manager at Infoholic Research.

Major Market Segments

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. The India Smart Street-lighting Network Components market is expected to reach $ 674.6 million by CY 2022.

image007

Connectivity Technologies used in street-lights help in real-time monitoring of the street. This leads to better provisioning of security for common road-users. Currently, Wi-Fi, Bluetooth, Power Line Communication (PLC) and Radio Frequency (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 ‘always on’ citizen.

For the Connectivity Technologies segments in India it is expected that Wi-Fi will be the fastest growing technology, growing at CAGR of 42.88% followed by Bluetooth (42.47%) and radio frequency (42.21%) by CY 2022.

Further, Connectivity Technologies that is expected to be a $49.7 million market in CY 2016 in India will catapult to $159.9 million by CY 2020. There are chances that the figure for CY 2022 will touch all time high of $412.6 million.

Lighting Lamps play a major role in smart street-lighting. With the passage of time and growing awareness, traditional lighting lamps are being replaced with smart, energy-efficient lighting lamps. It is expected that more than 80% of street-lights will be replaced by LED lamps by 2025 and India will emerge as one of the fastest growing lamp markets across the world.

For Lighting Lamps, the major share of the revenue comes from LED lamps, CFL lamps, and HID lamps. The growth in the demand for LED lamps is expected to drive the overall growth of the Lighting Lamps market to reach $ 127.3 million by CY 2022 at a CAGR of 56.8%.

“Smart street-lighting provides improved visibility, environment-friendly and energy saving solutions. Governments, municipalities, and local bodies are widely expected to shift their focus to smart street-lights to cut down power consumption and maintenance costs,” added Sathya V, Research Analyst at Infoholic Research.

Filed in: News

Related Posts

Bookmark and Promote!

© 2016 ItVoice | Online IT Magazine India. All rights reserved.
Powered by IT Voice