Emerging Trends Influencing The Growth Of The Street And Roadway Lighting Market:Product Innovations Drive Growth In The Street And Roadway Lighting Market With Advanced Solutions

The Street And Roadway Lighting Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Projected Growth of the Street And Roadway Lighting Market?
In recent years, there has been significant growth in the market size of street and roadway lighting. It's projected to increase from $10.5 billion in 2024 to $11.16 billion in 2025, with a compound annual growth rate (CAGR) of 6.3%. The historic period's growth can be credited to factors like community requirements and feedback, initiatives for energy conservation, advancements in the field of lighting design, shift to led technology, and government directives.

The market for street and roadway lighting is projected to witness significant expansion in the upcoming years, with an estimated value of $14.54 billion in 2029, at a compound annual growth rate (CAGR) of 6.8%. The expected growth during this forecast period is largely driven by the implementation of smart city initiatives, concerns about the environment and light pollution, integration with IoT and sensory devices, development of urban infrastructure, and the demand for solutions that enhance energy efficiency. The forecast period will also see trends like advancements in LED technology, the rise of smart lighting systems, initiatives towards sustainability, improvements in safety and security, and the emergence of adaptive lighting solutions.

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What Are the Emerging Segments Within the Street And Roadway Lighting Market?
The street and roadway lighting market covered in this report is segmented -

1) By Offerings: Hardware, Software, Services
2) By Lighting Type: Conventional Lighting, Smart Lighting
3) By Light Source: LEDs, Fluorescent Lamps, High-Intensity Discharge Lamps
4) By End User Industry: Highways, Street, Roadways

Subsegments:
1) By Hardware: LED Fixtures, Luminaires, Poles And Mounting Structures, Smart Sensors And Controls
2) By Software: Lighting Management Systems, Monitoring And Control Software, Energy Management Software
3) By Services: Installation Services, Maintenance And Repair Services, Consulting And Design Services

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What Long-Term Drivers Are Shaping Street And Roadway Lighting Market Trends?
The growth of street and roadway lighting market is anticipated to be spurred by the rise in road transportation. Road transportation involves the transport of goods and passengers across different locations via roads. With the surge in road transportation, there is an increased need for street and roadway lighting to enhance road safety for drivers, riders, and pedestrians by augmenting visibility. For instance, a report from the U.S. Department of transportation, an executive division of the U.S. federal government, shared in March 2021 revealed that the travel on all highways and streets grew by +2.9% (+7.9 billion vehicle miles) in March 2022 compared to the same month in the previous year. It is forecasted that 277.4 billion vehicle miles would have been traveled during the month. A total of 274.8 billion miles were recorded to have been traveled in vehicles in March 2022, marking an increase of 2.80% (7.5 billion miles) from March 2021. Hence, the uptick in road transportation is bolstering the growth of the street and roadway lighting market.

Who Are the Top Competitors in Key Street And Roadway Lighting Market Segments?
Major companies operating in the street and roadway lighting market include Cree Inc., Acuity Brands Inc., OSRAM Licht AG, Current Lighting Solutions, Syska LED Lights Pvt Ltd., Hubbell Inc., Zumbotel Group, LED roadway lighting Ltd., ClaroLux Landscape Lighting, Forus Electric Private Limited, Koninklijke Philips N V, WS Atkins Plc, Shenzhen GHC Co. Ltd., Lighting Reality Ltd., Schneider Electric, Petra Systems, Eaton Corporation plc, Streetlight.Vision, Philips Lighting, TVILIGHT Projects B.V., General Electric Company, Echelon Corporation, Cyan Technology Ltd., Honeywell International Inc., Bridgelux Inc.

What Street And Roadway Lighting Market Trends Are Gaining Traction Across Different Segments?
In the street and roadway lighting market, one rising trend is product innovation. Substantial firms in this sector are centering their strategies on creating novel technological solutions to solidify their foothold in the said market. To highlight this, Evluma, a U.S.-based company known for producing affordable, durable, and eco-friendly LED lighting solutions, introduced RoadMax in March 2022. RoadMax is a progressive roadway lighting device featuring advanced glare control and excellent light dissemination. It caters to modern issues related to light trespass and disability glare by offering several configurations (Type II, III, and V) and zero-uplight (U0). It also satisfies roadway standards. Key attributes of this product include its field-adjustable wattage selector, light trespass shields, and its synchronization with Evluma's ConnectLED app for wireless control and dimming. Besides, it incorporates Photocontrol Failsafe technology, provides a sturdy ten-year warranty, and surge protection.

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Which Regions Are Becoming Hubs for Street And Roadway Lighting Market Innovation?
Asia-Pacific was the largest region in the street and roadway lighting market in 2024. Asia-Pacific is expected to be the fastest-growing region in the street and roadway lighting market report during the forecast period. The regions covered in the street and roadway lighting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Street And Roadway Lighting Market?
2. What is the CAGR expected in the Street And Roadway Lighting Market?
3. What Are the Key Innovations Transforming the Street And Roadway Lighting Industry?
4. Which Region Is Leading the Street And Roadway Lighting Market?

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