Press release
Smart Street Lighting Market: Rapid Expansion Rates, Favorable Government Initiatives, and Innovative Technological Trends
Smart Street Lighting Market
The global smart street lighting market is experiencing a surge with a compound annual growth rate of 19.3%, and an exponential boom predicted in the coming years.
What Is The Projected Market Size Of The Global Smart Street Lighting Market And Its Growth Rate?
• From $2.51 billion in 2024, the smart street lighting market is projected to reach $3 billion in 2025, growing at a CAGR of 19.3%.
• This market growth can be attributed to the adoption of LED technology, government initiatives, public safety concerns, and pilot projects.
• The smart street lighting market is estimated to grow exponentially with a projected market size of $6.4 billion in 2029, and a CAGR of 20.9%.
• This growth is likely driven by urbanization, government initiatives, the demand for energy-efficient solutions, focus on safety and security, and a shift towards sustainability.
What Is Driving The Growth In The Smart Street Lighting Market?
The emergence of smart cities is significantly contributing to the growth of the smart street lighting market. Intelligent lighting installations increase citizen satisfaction with security while providing cities with significant savings in power consumption. For instance, Saudi Arabia's smart city, 'Neom,' leverages smart city technologies for safety and efficiency, promoting the expansion of the smart street lighting market.
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Who Are the Key Players Driving Smart Street Lighting Market Growth?
• Hubbell Lighting Inc.
• GE Lighting
• Osram Licht AG
• Koninklijke Philips N.V
• Acuity Brands Lighting Inc.
• Eaton Corporation PLC
• Schneider Electric SE
• CREE Inc.
• Signify Holding
• Telensa Limited
• Itron Inc.
• Suzhou Rongwen Kubai Lighting Systems Co. Ltd.
• DimOnOff
• Echelon Corp.
• SYSKA LED Lights
• Rongwen Group
• Havells Ltd.
• Tvilight Smart City Lighting
• Petra Systems Inc.
• Shanghai Sansi Technology Co. Ltd.
• Zumtobel Group
• Flashnet
• TVILIGHT Projects B.V.
• Bridgelux Inc.
• Liveable Cities
• Quantela
What Are The Key Trends In The Smart Street Lighting Market?
• Energy Efficiency
• Internet of Things (IoT) Integration
• Sensors and Data Collection
• Adaptive Lighting Solutions
• Smart City Initiatives
What Are The Segments Of The Global Smart Street Lighting Market?
• By Type: Light Emitting Diode, Compact Fluorescent lamps, Incandescent, and Other Types
• By Communication Technology: NB-IOT, Powerline Communication, Radio Frequency, and Other Communication Technologies
• By Energy Source: Traditional And Other Renewable Energy, Solar
• By Application: Environment Monitoring, Traffic Optimization, Smart Parking, and Other Applications
• By End User: Commercial, Residential, and Industrial
Which Region Leads The Smart Street Lighting Market?
North America was the largest region in the smart street lighting market in 2024. The smart street lighting market spans across Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Smart Street Lighting Market Global Market Report?
• Market Size Analysis
• Market Segmentation Analysis
• Key Player Focus
• Growth Trends Analysis
• Market Contribution
• Growth Drivers
• Industry Challenges
• Competitive Developments
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