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    Global LED Smart Street Light Market Value in 2018 Reached USD 704 Million and is Expected to Grow at a CAGR of 26.3% in 2019-2023

    Global LED Smart Street Light Market Value in 2018 Reached USD 704 Million and is Expected to Grow at a CAGR of 26.3% in 2019-2023

    Source： 08 Aug 2019
    LED Smart Street Light Market Global

    According to the latest report of LEDinside, since 2018, global lighting industry has experienced severe internal and external shocks. According to LEDinside latest report- 2H19 Global Lighting LED and LED Lighting Market Outlook, LED lighting market scale is expected to grow at a CAGR of 6% in 2018-2023. Replacement lighting has entered the period of saturation, and the industry has been in desperate need of a new growth engine. According to external environmental markets, due to weak macro-economy, coupled with a large number of lighting products included in th...


    According to the latest report of LEDinside, since 2018, global lighting industry has experienced severe internal and external shocks. According to LEDinside latest report- 2H19 Global Lighting LED and LED Lighting Market Outlook, LED lighting market scale is expected to grow at a CAGR of 6% in 2018-2023. Replacement lighting has entered the period of saturation, and the industry has been in desperate need of a new growth engine. According to external environmental markets, due to weak macro-economy, coupled with a large number of lighting products included in the tax list under China-US trade conflict, arbitrage and intermediary trade in third countries have intensified, with Mexico, Korea and Vietnam becoming the biggest winners.


    In response to the boom of smart city construction around the world, smart street light market has entered high-speed replacement and development stage

     

    In response to the boom of smart city construction around the world, with the development of IoT and 5G, the maturity of products and the active promotion of manufacturers, the penetration speed of smart products in lighting industry has been faster. Based on street light installed market volume, the penetration rate of smart street light has been less than 5% in 2018, and smart street light market has entered high-speed replacement and development stage. According to the latest figures from LEDinside, global LED smart street light market value in 2018 reached USD 704 million and is expected to grow at a CAGR of 26.3% in 2019-2023. (Note: LEDinside defines the scale of smart street light market to include only street lamp products)

     

    Smart street lights are used as the main window of smart city. Street light enterprises work with telecom operators and communication enterprises, and with mature technologies such as smart control, network communication and sensing, LED lighting can break through the original functional boundaries. Through smart street lighting, comprehensive sense and smart control can be achieved for each lamp on city roads.

     

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