Street And Roadway Lighting Market Share Analysis, Trends, Key Drivers And Forecast To 2032

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company's Street And Roadway Lighting Global Market Report 2023 identifies increased road transportation as the major driver for the street and roadway lighting market's growth in the forecast period. Road transport refers to the movement of goods and passengers from one location to another on roads. Increasing road transportation will raise the demand for street and roadway lighting to increase the road safety of drivers, riders and pedestrians by improving visibility.

The global street and roadway lighting market size is expected to grow from $9.33 billion in 2022 to $9.97 billion in 2023 at a compound annual growth rate (CAGR) of 6.89%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global street and roadway lighting market size is expected to reach $12.74 billion in 2027 at a CAGR of 6.33%.

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Major competitors in the street and roadway lighting market are Cree Inc., Acuity Brands Inc., OSRAM Licht AG, GE Current, Syska LED Lights Pvt Ltd., Signify Holding, DCD Technologies ME FZCO.

A key trend in the street and roadway lighting market includes product innovations. Major companies operating in the street and roadway lighting market are focused on developing new technological solutions to strengthen their position in the market. For instance, in March 2021, TVILIGHT Projects B.V., a Netherlands-based provider of smart street lighting solutions and wireless smart street light controllers, launched the OpenSky IoT devices, wireless smart street light controllers (SLC)and outdoor light controllers (OLC). They are uniquely designed to connect via an open, reliable and proven international telecom standard. They are expected to offer long-range, deep coverage and high availability with secured and managed LPWAN (low power wide area network). They automatically select the available local telecom network to connect directly with the CityManager central management system.

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The street and roadway lighting market is segmented -
1) By Lighting Type: Conventional Lighting, Smart Lighting

2) By Light Source: LEDs, Fluorescent Lamps, High-Intensity Discharge Lamps

3) By Offerings: Hardware, Software, Services

4) By End User Industry: Highways, Street, Roadways

• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the street and roadway lighting market.

The Business Research Company's "Global Street And Roadway Lighting Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.

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The Table Of Content For The Street And Roadway Lighting Market Include:
1. Executive Summary
2. Street And Roadway Lighting Market Characteristics
3. Street And Roadway Lighting Market Trends And Strategies
4. Street And Roadway Lighting Market - Macro Economic Scenario
5. Street And Roadway Lighting Market Size And Growth
……….
26. Africa Street And Roadway Lighting Market
27. Street And Roadway Lighting Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Street And Roadway Lighting Market
29. Street And Roadway Lighting Market Future Outlook and Potential Analysis
30. Appendix

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