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Smart Street Lightning Market

Market Study on Smart Street Lighting: LED Anticipated to be the Most Lucrative Type During the Period.

Smart Street Lighting Market by Type (LED, CFL and Incandescent)

Smart Street Lighting Market Outlook (2023 to 2033)

The Market for Smart Street Lighting was valued at US$ 2,231.1 Million in 2022, and it is anticipated to have grown to US$ 12,647.0 Million by the end of 2033. The market for smart street lighting is estimated to evaluate to US$ 2,579.2 Million in 2023. The market for smart street lighting is estimate to grow at a CAGR of 17.2% from 2023 to 2033.

Smart street lighting is a modern approach to street lighting that uses advanced technologies to provide better lighting services in a more efficient, cost-effective, and environmentally friendly way. Smart street lighting systems typically use a network of sensors, wireless communication, and data analytics to manage and control street lights. The smart street lighting consists of 26.7% of the global street lighting market.

The smart street lighting, lights can be dimmed or brightened according to real-time traffic conditions, pedestrian movement, and ambient light levels. This can help cities save energy and reduce their carbon footprint, as well as save money on maintenance costs.

Smart street lighting can also improve safety by providing better lighting in areas that are poorly lit, helping pedestrians and drivers see better and reduce the risk of accidents.

In addition to these benefits, smart street lighting systems can also offer additional services such as real-time traffic monitoring, environmental monitoring, and public safety alerts. Overall, smart street lighting is a technology-driven solution that can help cities improve their lighting services, reduce their environmental impact, and provide better safety and comfort for their residents.

The smart street lighting market in North America held 27.3%, which is the uppermost market share in the worldwide landscape in 2022 and is projected to retain its position within the forecast period. The demand for Smart Street Lighting in the Europe region it held around 19.2% of the market in 2022.

Smart Street Lighting Market Size (2023)

US$ 2,579.2 Million

Projected Market Value (2033)

US$ 12,647.0 Million

Global Market Growth Rate (2023 to 2033)

17.2%

Wireless Connectivity Market Share (2022)

53.7%

India Market Growth Rate (2023 to 2033)

19.3%

LED Smart Lights Market CAGR (2022)

21.6%

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What Factors Could Restrain Growth of Smart Street Lighting Market?

“Technical issues and Operations in Harsh Weather Conditions Can Challenge the Smart Street Lighting Market”

The smart street lighting systems rely on various technologies such as sensors, wireless communication, and data analytics. Technical issues such as system failures, sensor malfunctions, or data security breaches can pose a risk to the system's reliability and security, and therefore may affect its adoption. Technical issues can also cause delays and maintenance costs, which can affect the overall cost-effectiveness of the system.

Street lighting systems are exposed to harsh weather conditions such as heavy rain, snow, and extreme temperatures. These conditions can damage the street lighting equipment and affect its performance. Harsh weather conditions can also affect the reliability of the wireless communication systems and data transmission, which can cause the system to malfunction.

  • In April 2022, Dhyan, the experts in device managements, has announced a turnkey solution collaboration with Senet to manage smart streetlights, which are powered by the Senet’s LoRaWAN network service.
  • In February 2023, Signify the global player in smart lighting is assisting the Eichenzell a municipality in Germany to become a smart community that is prepared for the future by implementing intelligent street lighting.
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Why is Demand for Smart Street Lighting Increasing Across United States of America?

“Energy Efficiency of Smart Street Lighting Boosts the Demand for Smart Street Lighting Market in United States of America”

The energy efficiency of smart street lighting is a key factor that is expected to boost the demand for smart street lighting systems in the United States of America. Smart street lighting systems use LED lights and advanced control systems to reduce energy consumption and provide better lighting quality, which can result in significant cost savings for cities and municipalities.

Due to the rapid industrialisation and growing population in United States of America, the demand of energy consumption is rising at rapid speed and it led to the increase the energy bills in the United States, so the United States government and local municipal bodies are acquiring the smart street lighting systems.

The smart street lighting systems can reduce energy consumption by up to 50-70%. This can result in significant cost savings on energy bills and reduce carbon emissions, making smart street lighting a more sustainable option.

Additionally, the more cities and municipalities in the United States of America look for ways to reduce energy consumption and improve their sustainability, we can expect to see continued growth in the demand for smart street lighting systems.

The United States of America had market share in smart street lighting of 20.1% in the 2022.

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What Factors Allow India to Be a Major Market for Smart Street Lighting Sensors?

“The Government of India is Implementing the Smart City Project Across India Will Boost the Smart Street Lighting Market”

The implementation of the smart city project across India is expected to boost the smart street lighting market in the country. The Smart city project is a flagship program of the Indian government, aimed at developing 100 smart cities across the country. The project focuses on using technology and innovation to enhance the quality of life of citizens and improve urban infrastructure.

One of the key components of the smart city project is the implementation of smart street lighting systems. The project aims to replace existing street lighting systems with energy-efficient LED lights and smart lighting solutions that can be remotely controlled and monitored. This will help reduce energy consumption and improve the overall efficiency of the lighting infrastructure.

The smart street lighting systems implemented under the smart city project will also feature real-time monitoring and control, enabling cities to quickly identify and address issues such as burned-out lights or malfunctioning sensors. The data collected from these systems can also be used to analyse traffic patterns and other metrics that can inform urban planning and development.

As the Indian government continues to invest in the development of smart cities, it is expect to continued growth in the adoption of smart street lighting systems across the country.

The Indian market will grow with CAGR of 19.3% over the forecasted period.

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What Factors Is Allowing Smart Street Lighting to Grow in France?

“The French government is upgrading their lighting infrastructure that will boost the Smart Street Lighting Market in France”

The public lighting systems in the France are old and mostly use ineffective lamps. Many cities in France are started upgrading their lighting set-up to energy-efficient LEDs, some advanced to smart lighting with dimming and safety-supporting controls.

The implementation of smart street lighting technology in France could provide a range of benefits, such as reducing energy consumption, lowering maintenance costs, and improving public safety. Additionally, the increased investment in the smart street lighting market could lead to the growth of related industries in France, such as sensor manufacturers, software developers, and data analytics companies.

Overall, the French government's investment in upgrading their lighting infrastructure is likely to have a positive impact on the smart street lighting market in France, and could potentially serve as a model for other countries looking to modernize their own lighting systems.

The smart street lighting market in France will grow with CAGR of 18.1% over the forecasted period.

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What Are Different Factors Allow wireless connectivity in Smart Street Lighting to Dominate the Market?

“Remote monitoring and control by using wireless connectivity will drive the Demand for Smart Street Lighting Market”

Smart street lighting systems use sensors and wireless connectivity to monitor and control lighting levels, which can result in significant energy savings and cost reductions. These systems allow municipalities to remotely monitor and adjust lighting levels in real-time, which can help to reduce energy waste and provide better visibility for pedestrians and drivers.

The increasing adoption of the Internet of Things (IoT) and the growth of wireless connectivity technologies such as 5G, the demand for smart street lighting systems is likely to increase. These systems can be integrated with other smart city technologies such as traffic monitoring, environmental sensors, and public safety systems, providing a more comprehensive and efficient approach to urban management.

Overall, the ability to remotely monitor and control smart street lighting systems using wireless connectivity is likely to drive the demand for these systems as more cities look for ways to reduce energy consumption, lower costs, and improve public safety.

The wireless connectivity in the smart street lighting market had highest market share of 52.7% in 2022.

What Factors are influencing the Demand for Light Emitting Diode (LED) in Smart Street Lighting market?

“The Cost Effectiveness and Reliability of LED Smart Lights Will Boost the Smart Street Lighting Market”

LED smart lights have revolutionized the way we light our streets and cities. They offer a more energy-efficient, cost-effective, and reliable lighting solution than traditional streetlights. LED smart lights can be controlled remotely, and their brightness can be adjusted based on ambient light levels, traffic flow, and other factors. This makes them an ideal choice for smart city initiatives.

The cost-effectiveness of LED smart lights stems from their long lifespan and low energy consumption. LED bulbs last much longer than traditional bulbs, which means less frequent replacements are required, resulting in lower maintenance costs. LED bulbs also use less electricity, which can result in significant energy savings and reduced electricity bills over time.

In addition to their cost-effectiveness, LED smart lights also offer increased reliability compared to traditional streetlights. They are less prone to failure and require less maintenance, which means that they can remain operational for longer periods of time. LED smart lights can also be remotely monitored, allowing for faster response times and easier maintenance.

The Light Emitting Diode (LED) had uppermost CAGR of 21.6% for forecasted period.

Competitive Landscape

The companies in smart street lighting market are collaborating with different municipal corporations and governments to upgrade and replace the lighting systems in different cities over worldwide.

  • In February 2022, Ameresco a top company for energy savings and renewable energy and Chicago city has announced the completion of smart street lighting upgradation project (CSLP), This Project will connects more than two lacs plus street light fixtures throughout the Chicago city and is supposed to be the largest city led wireless smart street lighting programme in the United States of America
  • In June 2020, Signify has collaborated with the NYPA (New York Power Authority), this collaboration will support smart street lighting in new york city and important role that connected street lighting can play in building smart city infrastructure.

Recent developments related to key players providing Smart Street Lighting market solutions have been tracked by the analysts at Persistence Market Research, which will be accessible in the full report.

Smart Street Lighting Market Report Scope

Attribute

Details

Forecast Period

2023 to 2033

Historical Data Available for

2018 to 2022

Market Analysis

US$ Million for Value

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East and Africa (MEA)

Key Countries Covered

  • United States
  • Canada
  • Germany
  • United Kingdom
  • France
  • Italy
  • Spain
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • Thailand
  • Malaysia
  • Indonesia
  • Australia & New Zealand
  • GCC Countries
  • Turkey
  • Israel
  • Northern Africa
  • South Africa

Key Market Segments Covered

  • Connectivity
  • Energy Source
  • Type
  • Region

Key Companies Profiled

Pricing

Available upon Request

Key Segments of Smart Street Lighting Market Industry Research

By Type:

  • LED
  • CFL
  • Incandescent
  • Others

By Connectivity:

  • Wired
  • Wireless

By Energy Source:

  • Traditional & Other Renewable Energy
  • Solar

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia Pacific
  • Middle East and Africa

- Companies Covered in This Report -

  • Hubbell Lighting, Inc.
  • GE Lighting, LLC
  • OSRAM Light AG
  • Royal Philips NV
  • Acuity Brands Lighting, Inc.
  • Eaton Corporation
  • Schneider Electric S.E
  • Honeywell International
  • Lutron Electronics
  • Cree, Inc.
  • Others.

- Frequently Asked Questions -

In 2022, the market value smart street lighting were US$ 2,231.1 Mn.

The global smart street lighting market is estimated to advance at 17.2% CAGR through 2033.

The market for smart street lighting is forecasted to climb to US$ 12,647.0 Mn by 2033 end.

Demand for smart street lighting market in India is projected to rise at a CAGR of 19.3% over the forecast period.

In 2022, the North America smart street lighting market held a dominant market share of 27.3%.

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