Smart Street Lighting Market Outlook 2025-2034: Key Trends, Growth Drivers, and Market Share

What combination of drivers is leading to accelerated growth in the smart street lighting market?
The rise of advanced cities is playing a critical role in propelling the smart street lighting industry forward. A smart city employs information and communication technology (ICT) to enhance administrative efficiency, share information with the public, and improve the quality of public services and the well-being of its inhabitants. Implementing intelligent lighting systems not only improves the security and safety satisfaction of citizens, but also offers substantial power consumption and lighting system maintenance savings for the cities. Furthermore, it allows cities to provide the right level of street illumination depending on local conditions. For instance, as highlighted by National World PLC., a UK-based news publisher, in October 2022, Saudi Arabia is advancing with the development of a smart city, 'Neom', which will host an international sporting event known as 'The Asian Winter Games 2029'. This smart city, Neom, is currently under construction in Tabuk Province in northwest Saudi Arabia, with an estimated investment of about $500 billion (or around £436 billion). The plan for Neom includes incorporating smart city technologies and becoming a tourist attraction. However, due to certain setbacks, the project might only be completed by 2026 with an expansion concluded in 2025. Thus, the emergence of such smart cities significantly contributes to the growth of the smart street lighting market.

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What is the projected compound annual growth rate (CAGR) of the smart street lighting market from 2025 to 2034, and what factors influence it?
There has been a swift expansion in the smart street lighting market recently. The market is projected to grow from a size of $2.51 billion in 2024 to $3 billion by 2025, with a compound annual growth rate (CAGR) of 19.3%. The uptrend during the historical period can be credited to the uptake of led technology, the implementation of government initiatives, and the increasing concerns about public safety and security, alongside pilot projects and demonstrations.

In the coming years, the market size for smart street lighting is projected to experience substantial expansion, escalating to $6.4 billion by 2029 with a Compound Annual Growth Rate (CAGR) of 20.9%. This projected growth over the next few years is spurred by factors such as increasing urbanization, government efforts and funding, the need for efficiency in energy use, heightened emphasis on safety and security as well as the lean towards sustainability. Energy efficiency, integration of Internet of Things (IoT), utilization of sensors for data collection, customized lighting solutions, and initiatives for smarter cities will be the major trends during the forecast period.

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How are the latest trends influencing the growth of the smart street lighting market?
Prominent companies operating in the intelligent street lighting market are concentrating on creating tech-based solutions like advanced lighting systems to boost energy efficiency and promote city safety. Advanced Lighting Solutions are cutting-edge lighting infrastructures that amplify energy efficiency and user interaction through intelligent technologies and superior light sources like LEDs. These solutions provide automatic controls, heightened aesthetics, and facilitate sustainability endeavors. For example, in March 2023, OptoTech Optical Machinery, Inc., a machinery industry firm based in Taiwan, introduced modular intelligent LED street lighting to upgrade city lighting systems characterized by an exclusive cooling system and high-efficiency LEDs, which improve energy conservation and performance. The IoT features of this system permit distant monitoring and adaptive lighting, rendering it perfect for modern urban settings.

What are the major segments of the smart street lighting market and their role in driving growth?
The smart street lighting market covered in this report is segmented -

1) By Type: Light Emitting Diode, Compact Fluorescent lamps, Incandescent, Other Types
2) By Communication Technology: NB-IOT, Powerline Communication, Radio Frequency, Other Communication Technologies
3) By Energy Source: Traditional And Other Renewable Energy, Solar
4) By Application: Environment Monitoring, Traffic Optimization, Smart Parking, Other Applications
5) By End User: Commercial, Residential, Industrial

Subsegments:
1) By Light Emitting Diode (LED): Standard LED, Smart LED
2) By Compact Fluorescent Lamps (CFL): Standard CFL, Smart CFL
3) By Incandescent: Standard Incandescent, Smart Incandescent
4) By Other Types: Solar-Powered Lights, High-Intensity Discharge (HID) Lights, Induction Lamps

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Which regions are key players in the growth of the smart street lighting market?
North America was the largest region in the smart street lighting market in 2024. The regions covered in the smart street lighting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Who are the key firms paving the way for growth in the smart street lighting market?
Major companies operating in the smart street lighting market include 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

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What Is Covered In The Smart Street Lighting Global Market Report?

• Market Size Forecast: Examine the smart street lighting market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the smart street lighting market for a structured understanding.
• Key Players Overview: Analyze major players in the smart street lighting market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the smart street lighting market.
• Segment Contributions: Evaluate how different segments drive overall growth in the smart street lighting market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the smart street lighting market.
• Industry Challenges: Identify potential risks and obstacles affecting the smart street lighting market.
• Competitive Landscape: Review strategic developments in the smart street lighting market, including expansions, agreements, and new product launches.

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