Smart street-lighting market in India to reach $1,868.9m by 2022: Study

Smart Street-lightingInfoholic 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 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 per cent 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 FY 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 FY 2022.

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 per cent followed by Bluetooth (42.47 per cent) and radio frequency (42.21 per cent) by FY 2022.

Further, Connectivity Technologies that is expected to be a $49.7 million market in 2016 in India will catapult to $159.9 million by 2020. There are chances that the figure for 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 per cent 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 2022 at a CAGR of 56.8 per cent.

“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.

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