Comprehensive Smart Street Lighting Market Forecast 2025-2034: Growth Trends and Strategic Shifts

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Smart Street Lighting Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market size of intelligent street lighting has been expanding quickly in the recent past. Its growth is projected to increase from $2.51 billion in 2024 to $2.96 billion in 2025, representing a compound annual growth rate (CAGR) of 17.9%. The exponential growth in the historic period can be credited to the adoption of LED technology, government schemes and initiatives, concerns revolving around public safety and security, as well as various pilot projects and demonstrations.

Smart Street Lighting Market Size Forecast: What's the Projected Valuation by 2029?
Anticipating tremendous growth in the coming years, the intelligent street lighting market is projected to reach a value of $6.22 billion by 2029, with a compound annual growth rate (CAGR) of 20.4%. This growth during the forecast period could be credited to the surge in urbanization, government drives and funding, the call for energy-efficient solutions, the focus on safety and security, and the transition towards sustainability. The period is likely to witness key trends such as better energy efficiency, integration of Internet of Things (IoT), use of sensors and data collection, implementation of adaptive lighting solutions, and progress in smart city projects.

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What Are the Drivers Transforming the Smart Street Lighting Market?
The rise of intelligent urban areas is greatly impacting the development of the smart street light industry. A smart city utilizes information and communication technology (ICT) to bolster administrative efficiency, distribute critical information to the public, and enhance the level of public services, thereby improving the well-being of its citizens. The implementation of smart lighting helps to heighten the satisfaction of residents in terms of security and safety, giving municipalities substantial cost savings on power consumption and maintenance of lighting systems. Plus, it enables these cities to provide a suitable level of street lighting under varying local circumstances. For instance, in October 2022, as stated in an article by National World PLC., a news publisher based in the UK, Saudi Arabia is in the process of building a smart city named 'Neom' to host 'The Asian Winter Games 2029', an international sports event. The Neom smart city project, now underway in the northwest Tabuk Province of Saudi Arabia, has a projected cost of about $500 billion (£436 billion). The plan involves the integration of smart city technologies to build a prominent tourist destination. However, due to certain delays, it is now anticipated that the project will only be completed by 2026, with a predicted expansion by 2025. As such, the emergence of smart cities promotes the expansion of the smart street lighting industry.

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What Are the Key Trends Driving Smart Street Lighting Market Growth?
Leading firms in the smart street lighting market are concentrating on the creation of technological solutions such as advanced lighting solutions to boost energy efficiency and increase urban safety. Innovative lighting systems, known as Advanced Lighting Solutions, utilise smart technologies and advanced light sources like LEDs to increase energy efficiency and improve user experience. These systems provide automated controls, superior aesthetics, and aid in sustainability initiatives. For example, in March 2023, OptoTech Optical Machinery, Inc., a company based in Taiwan, introduced modular smart LED street lights to improve urban lighting systems. These lights come with a distinctive cooling system and high-efficiency LEDs, leading to improved energy savings and performance. Their IoT capabilities enable remote monitoring and adaptive lighting, making them perfectly suited for contemporary urban situations.

Which Segments in the Smart Street Lighting Market Offer the Most Profit Potential?
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 Firms Dominate the Smart Street Lighting Market by Market Share and Revenue in 2025?
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

Which Regions Offer the Highest Growth Potential in 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

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