Smart Street Lighting

Smart Street Lighting

Global Smart Street Lighting Market to Reach US$8.5 Billion by 2030

The global market for Smart Street Lighting estimated at US$2.6 Billion in the year 2023, is expected to reach US$8.5 Billion by 2030, growing at a CAGR of 18.1% over the analysis period 2023-2030. Smart Street Lighting Hardware, one of the segments analyzed in the report, is expected to record a 16.1% CAGR and reach US$4.4 Billion by the end of the analysis period. Growth in the Smart Street Lighting Software segment is estimated at 21.4% CAGR over the analysis period.

The U.S. Market is Estimated at US$558.7 Million While China is Forecast to Grow at 21.3% CAGR

The Smart Street Lighting market in the U.S. is estimated at US$558.7 Million in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.2 Billion by the year 2030 trailing a CAGR of 21.3% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 15.4% and 17.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 17.1% CAGR.

Global Smart Street Lighting Market - Key Trends & Drivers Summarized

Smart street lighting is a revolutionary advancement in urban infrastructure, utilizing modern technologies to enhance the efficiency, functionality, and sustainability of public lighting systems. These systems integrate LED lighting, sensors, and communication networks to provide dynamic, adaptive lighting based on real-time conditions and usage patterns. By replacing traditional streetlights with LED-based smart lights, cities can significantly reduce energy consumption due to LEDs` higher efficiency and longer lifespan. Sensors embedded in smart streetlights can detect ambient light, motion, and occupancy, allowing the lights to adjust their brightness according to the time of day, weather conditions, and pedestrian or vehicular traffic. This intelligent adjustment not only saves energy but also improves public safety by ensuring adequate illumination when and where it is needed.

In addition to energy efficiency and safety benefits, smart street lighting systems contribute to broader smart city initiatives by serving as a platform for various smart city applications. These lights can be equipped with additional sensors and communication modules to collect data on air quality, temperature, noise levels, and other environmental parameters. They can also support public Wi-Fi, surveillance cameras, and emergency communication systems, providing multiple services from a single infrastructure. This multifunctional approach reduces the need for separate installations and maintenance, lowering operational costs and enhancing the urban experience. Moreover, the data collected by smart streetlights can be analyzed to gain insights into urban trends, helping city planners optimize traffic flow, improve public services, and plan future developments more effectively.

The growth in the smart street lighting market is driven by several factors, including rapid urbanization, the need for energy-efficient solutions, and advancements in IoT and communication technologies. As cities expand and populations grow, the demand for efficient and sustainable infrastructure becomes increasingly critical. Governments and municipalities are adopting smart street lighting to meet environmental regulations and reduce carbon footprints. Technological advancements in IoT enable seamless integration and management of large networks of smart lights, making the deployment and operation of these systems more feasible and cost-effective. Additionally, there is a rising consumer preference for smart, connected urban environments that offer enhanced safety and convenience. The availability of funding and incentives for smart city projects also propels market growth, encouraging further innovation and adoption of smart street lighting solutions. As a result, the smart street lighting market is experiencing robust expansion, driven by the convergence of technological progress, urban development needs, and consumer expectations.

Select Competitors (Total 91 Featured) -

• Acuity Brands, Inc.
• Cree Lighting USA LLC
• DimOnOff, Inc.
• FLASHNET SA
• gridComm Pte. Ltd.
• Itron, Inc.
• Schiender Electric SE
• Signify Netherlands B.V.

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