Kenneth Research examined the statistical and analytical approach that is required for the growth of India Smart Street Lighting Market between the years 2022 and 2031. The key industrial insights provided in the report gives a better idea about the market overview to the readers regarding the existing scenario in the market. In addition, the report includes detailed discussion on current and future market trends that are associated with the growth of the market.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for India Smart Street Lighting Market products.
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Factors such as the growing trade of semiconductors for use in different consumer electronic products, along with the growing trend of automation and IoT, which is raising the need for the deployment of advanced electronic chipsets, therefore the advancement in the trade of semiconductors. According to the statistics by World Semiconductor Trade Statistics (WSTS), semiconductor billings around the globe per 12 months rolling average increased from around USD 250 billion in the year 2010 to around USD 460 billion in the year 2019.
India is one of the biggest smart lighting markets in Asia Pacific. It is predicted that the investments in smart lighting will double in the country and around 27.5 million street lamps will be replaced with LED lamps in the coming 2-3 years. One of the key reasons for replacing the traditional high-intensity discharge lamps (HID) is that they consume a lot of energy and generate a lot of heat. Thus, with the growing awareness and to reduce the carbon footprints, the government has started replacing the traditional street lights with smart street lights. Andhra Pradesh (AP) and Himachal Pradesh (HP) have started working on the smart street lighting projects. These smart street lighting poles can be turned “ON” or “OFF” through the smart devices. Most of the smart poles are enabled with motion sensors which turn “ON” whenever there is a movement near the pole.
the “Smart Street Lighting Market in India” will grow at an estimated CAGR of 42.2% during the forecast period 2016-2022.
Key players covered in the report are GE Lighting, Philips Lighting, Acuity Brands, Osram Licht AG, Eveready Industries India Ltd., Bajaj Electricals, Havells India Ltd., and SYSKA LED Lights. The report provides a comprehensive review of connectivity technologies, lighting lamps, and network components, upcoming and on-going smart street lighting projects in the country.
The study covers and analyzes the “Smart Street Lighting market in India. Bringing out the complete key insights of the industry, the report aims to provide an opportunity for players to understand the latest trends, current market scenario, government initiative, and technologies related to the market. In addition, helps the venture capitalist in understanding the companies better and take informed decisions.
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