Data Monetization in the Street Lighting Market Propel Collaboration Among Strategic Industry Participants
Upgrading public street lights to LED lights have resulted in energy savings. However, connected or smart street lights can achieve better energy efficiency and promote other applications, such as security, Wi-Fi, and data. Networked, adaptive street lighting solutions have emerged as a leading smart city application. Although replacing existing street lights with LED lamps can cut down a city’s electricity cost by 50%, networking these LEDs can deliver additional energy savings and bring down the payback period to less than six years.
Enabled by IoT and cloud, the smart street lighting solution provides an ideal platform for multiple smart city services. These include lighting control and energy optimization, traffic control and smart parking, environmental monitoring and analysis, public safety and security, EV charging, and digital signage and communication.
The publisher examines the driving forces and challenges in implementing smart street lighting infrastructure and numerous applications that can be hosted through street lights, discussing use cases, benefits, and potential business models.
With the market revenue estimated at more than US$40 million in 2019, the supplier projects the Southeast Asia smart street lighting market to record over 20.0% CAGR from 2019 to 2024. Market drivers include regulations on energy conservation and the growing demand from smart cities, while the lack of financing options and network infrastructure are market restraints.
The study’s scope covers lighting and control systems used as components in smart street lights of public, private and logistics infrastructures. It segments the smart street lighting market in Southeast Asia as Indonesia, Malaysia, and Thailand.
Key Issues Addressed
- Is the market growing? How long will it continue to grow, and at what rate?
- What is the actual market for smart street lighting? What is the current and future penetration of smart street lighting?
- Who are the stakeholders in smart street lighting?
- What are the current use cases in smart street lighting? Which cities have implemented it?
- What are the growth opportunities for participants competing in this market?
