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The global LED smart street lamp market will enter a stage of rapid development

      In its latest survey, it is predicted that the global LED smart street lamp market (including only luminaires and a single lighting control system) will usher in rapid development, and will grow at a compound annual growth rate of 8.2% by 2024.

Generally speaking, smart light poles have six basic functions: smart lighting, information release, security monitoring, environmental detection, charging stations and small 5G base stations. Smart lighting products ranging from modular LED lights to a single light controller are necessary components to achieve these six functions.

Although China is the main driving force for the development of smart street lights in the world, large-scale city-level projects are expensive and time-consuming, mainly due to the huge land area in China and the huge differences in the needs of various local governments. In addition, the municipal government usually tends to outsource smart street lighting projects to private companies with sufficient resources. These companies are not necessarily proficient in the design and manufacturing of smart street lighting equipment, so they must cooperate with other partners to complete these projects.
      On the other hand, because smart street lighting projects involve the Internet of Things and telecommunications, LED lighting manufacturers must cooperate with major technology companies to execute these projects. In the smart street light supply chain, if the downstream is wider, more and more business opportunities will be found. In order to enter the existing supply chain, LED lighting manufacturers must enhance their service system capabilities, streamline their LED lighting product portfolio and improve the overall service quality, to add more value to existing competitive advantages. At the same time, the government needs to formulate transparent standards for smart street lights and develop a comprehensive smart city blueprint to ensure the healthy development of the LED smart street light industry.

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