Title: North America Smart Lighting Market 2019 Growth Drivers, Impact Analysis & Industry Opportunities by 2024
1 North America Smart Lighting Market to value over
USD 6 bn by 2024 Graphical Research
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2 Key Insights from North America Smart Lighting
Market
- Graphical Research says, North America Smart
Lighting Market to exceed 6 bn by 2024. - The North America smart lighting market growth is
attributed to the growing emphasis on
implementing smart lighting initiatives by
replacing conventional lighting systems with
energy-efficient smart lighting solutions in the
U.S. and Canada. - In October 2016, the U.S. Department for
transportation invested USD 165 million in smart
city technologies, leveraging the IoT-operated
devices such as smart lights, sensors, and meters
for the maintenance of the safety on roads due to
connected street lights, in turn, reducing the
energy consumption. - The San Francisco Public Utilities Commission
(SFPUC) replaced around 18,500 streetlights with
highly efficient light emitting diodes. The
adoption of these smart lighting solutions will
reduce the energy consumption by 50, reducing
the electricity costs and improving the
environmental efficiency. These initiatives are
paving the way for further significant adoption
of smart lighting systems in the region.
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3 Continued...
- The technology market is expected to register a
robust growth between 2018 and 2024 with a CAGR
of around 30. The increasing integration of
different wireless communication technologies
such as Bluetooth, Wi-Fi, and Zigbee into the
smart lighting solutions is aiding the consistent
growth of the technology market in the region. - Modern smart lighting solutions will upgrade the
connectivity as Wi-Fi hotspots will help in
improving public and traffic safety by assisting
in the implementation of smart navigation and
parking technologies. Hence, the Wi-Fi segment is
expected to grow at a robust CAGR of over 35
during the forecast period. - Some of the key vendors in the North America
smart lighting market are Silver Spring Networks,
Hubbell, Zumtobel, Tvilight, Schneider Electric,
Philips Lighting, GE Lighting, Cooper Industries
(Eaton), Cree, Acuity Brands, and Bridgelux.
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reserved.
www.graphicalresearch.com
4North America Smart Lighting Market
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