Press release
Leading Growth Driver in the LED Street Light Market in 2025: Global Surge In Smart City Initiatives Boosts Demand For Led Street Lights Market Driver's Influence
LED Street Light
The progression of smart cities globally directly stimulates the demand for LED street lighting. The term smart city refers to a jurisdiction that employs information and communication technology (ICT) to elevate its efficiency of operations and enhance the infrastructure it offers its inhabitants. The aesthetically pleasing designs of LED streetlights lower urban energy consumption and bolster public safety. This focuses on the enhanced energy efficiency realised in smart cities through the application of ICT, such as the Internet of Things (IoT). To illustrate, American international financial institution, The World Bank, released data in April 2023 stating that about 4.4 billion people, equating to 56% of the global population, currently live in cities. This number is predicted to increase to about 70% by 2050, doubling the urban populace from its current count. Hence, the global advancement of smart cities propels the LED street lighting market.
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What growth opportunities are expected to drive the led street light market's CAGR through 2034?
In recent times, there has been an exceptional growth in the LED street light market size. It is projected that there will be an increase from $14.31 billion in 2024 to $17.41 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 21.6%. The remarkable growth during the historical period can be credited to initiatives aimed at energy efficiency, government legislations and policies, cost reduction measures, trends in urbanisation, and goals for environmental sustainability.
The market size of LED street light is anticipated to witness a rapid growth in the upcoming years, expanding to $37 billion by 2029 with a Compound Annual Growth Rate (CAGR) of 20.7%. Factors contributing to this growth during the forecast period include smart city projects, the incorporation of renewable energy, public safety and security measures, urban infrastructure enhancements, and cost-savings from upgrades. Key trends during this forecast period comprise the establishment of interconnected street lighting systems, emphasis on eco-friendly materials, the application of durable and easy-to-maintain components, government pushes for LED street lighting, and personalised lighting solutions for smart cities.
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What are the emerging trends shaping the future of the led street light market?
The rise in technological improvements has surfaced as the leading trend being popularized in the LED street light industry. Major firms in this market are creating advanced solutions to fortify their market standing. For example, Goldmedal Electricals Pvt. Ltd., a company from India known for electrical accessories, unveiled the torus LED streetlight in August 2023. This breakthrough aims to change outdoor lighting dynamics by leveraging the latest LED technology and delivering robust lighting with a fashionable design. The introduction of Gold medal Electricals' torus LED street light demonstrates the company's commitment to offering innovative and cost-efficient lighting alternatives for various outdoor and urban contexts. The torus LED streetlight is safeguarded against extreme weather because of its impressive IP66 rating. The street light also comes with high-grade lenses for a bright, vivid illumination.
Which growth-oriented segments of the led street light market are leading the industry's development?
The led street light market covered in this report is segmented -
1) By Connectivity: Wired, Wireless
2) By Sales Channels: Direct, Indirect
3) By Applications: Retrofit, Retail And Hospitality, Outdoor, Offices, Architectural, Residential, Industrial, Other Applications
Subsegments:
1) By Wired: Direct Wired Connections, Power Line Communication (PLC) Systems, Integrated Control Systems
2) By Wireless: Wi-Fi Enabled Street Lights, Zigbee-Based Connectivity, Cellular (4G Or 5G) Connected Street Lights, LoRaWAN (Long Range Wide Area Network) Systems, Satellite-Based Communication Systems
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What regions are leading the charge in the led street light market?
Asia-Pacific was the largest region in the LED street light market in 2024. The regions covered in the led street light market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What companies are at the forefront of innovation in the led street light market?
Major companies operating in the led street light market include Samsung Electronics Co Ltd., Revolution Lighting Technologies Inc., Panasonic Corporation, Eaton Corporation plc, Wipro Limited, Signify N.V., NIPSCO Inc., Hubbell Inc., Leotek Electronics LLC, Acuity Brands Inc., OSRAM GmbH, Havells India Limited, Zumtobel Group, Syska LED Street Light, Cree Inc., TATA Power Solar Systems Ltd., Crompton Greaves Consumer Electricals Limited, Bajaj Electricals Limited, LSI Industries Inc., PEMCO Lighting Products LLC, XtraLight LED Lighting Solutions, Daintree Company, Niland Company, Nichia Corporation, Pkk Lighting Inc., SAVANT TECHNOLOGIES LLC, Ultravision LED Solutions, Jackson International Ltd., Optolumens Light Solution, Brandon Industries Inc.
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What Is Covered In The LED Street Light Global Market Report?
•Market Size Forecast: Examine the led street light market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the led street light market for a structured understanding.
•Key Players Overview: Analyze major players in the led street light market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the led street light market.
•Segment Contributions: Evaluate how different segments drive overall growth in the led street light market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the led street light market.
•Industry Challenges: Identify potential risks and obstacles affecting the led street light market.
•Competitive Landscape: Review strategic developments in the led street light market, including expansions, agreements, and new product launches.
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