The smart street-lighting market in India is expected to grow at a CAGR of 42.2 percent to $1.86 billion by 2020, Infoholic Research said.
The research firm noted that smart street-lighting is at the nascent stage currently. However, installation projects for smart street-lighting launched in 2015 and other projects for replacing street-lights are expected to boost the market.
The major share of revenues for India are expected tocome from urban zones, which are expected to aggregate $ 1.30 billion in CY 2022.
“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,” said Tariq Ahmed Shaik, Research Manager at Infoholic Research.
A breakdown of Infoholic findings showed that smart street-lighting network components market is expected to reach $ 674.6 million by CY 2022. Network Components are classified as sensors, ballasts and lamp controllers.
Among the Connectivity Technologies used in street-lights, Wi-Fi will be the fastest growing technology, growing at CAGR of 42.88 percent followed by bluetooth (42.47 percent) and radio frequency (42.21 percent).
Lighting Lamps play a major role in smart street-lighting. It is expected that more than 80 percent of street-lights will be replaced by LED lamps by 2025. Lighting Lamps market is expected to reach $ 127.3 million.