Press release
Worldwide Trends Overview: The Rapid Development of the LED Street Light Market
LED Street Light Market
Projected Expansion and Market Size of the LED Street Light Industry
The LED street light market is anticipated to grow significantly, reaching a value of $43.41 billion by 2030. This impressive increase corresponds to a compound annual growth rate (CAGR) of 20.1% during the forecast period. Several factors are fueling this surge, including the widespread adoption of smart connected street lighting systems, a heightened focus on minimizing public energy usage, and the growing implementation of wireless control technologies. Additionally, rising concerns about urban safety and visibility, alongside the demand for adaptive lighting solutions that respond to environmental conditions, contribute strongly to market growth. Key trends include the increasing installation of energy-efficient LED lighting, integration of IoT-enabled smart street lights, advancements in automated manufacturing processes for LED components, expansion of digital monitoring and remote management platforms, and the use of intelligent lighting systems to optimize traffic flow and mobility.
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Top Players Leading the LED Street Light Market Landscape
The competitive field in the LED street light sector features numerous prominent companies, including Samsung Electronics Co Ltd., Revolution Lighting Technologies Inc., Panasonic Corporation, Eaton Corporation plc, Wipro Limited, Signify N.V., 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, and Brandon Industries Inc.
In a strategic move in January 2023, US-based Saylite expanded its portfolio by acquiring Vantage Lighting, a manufacturer specializing in specification-grade LED lighting products. This acquisition aims to broaden Saylite's offerings and enhance service capabilities for its existing customer base.
Emerging Trends Enhancing LED Street Light Market Growth
Leading manufacturers are focusing on developing innovative products such as solar-powered streetlights to strengthen their market position. Solar-powered streetlights combine solar panels, batteries, LED lamps, and other components to deliver sustainable outdoor illumination. For example, in May 2023, AGC Inc., a Japanese glass manufacturing company, introduced the ST57 solar LED streetlight. This product stands out as an eco-friendly lighting solution powered entirely by solar energy. The ST57 model features smart controls including a timer, PIR sensor, and microwave sensor, which extend battery life and improve efficiency. Additionally, its IP66 rating ensures protection against harsh weather conditions. Available in six sizes ranging from 10W to 60W, the ST57 offers a versatile and fully functional solar street lighting option with multiple advantages.
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Detailed Segmentation of the LED Street Light Market
This report categorizes the LED street light market based on several key parameters:
1) Connectivity Types: Wired and Wireless
2) Sales Channels: Direct and Indirect
3) Application Areas: Retrofit, Retail and Hospitality, Outdoor, Offices, Architectural, Residential, Industrial, and Other Applications
Further breakdowns include:
- For Wired connectivity: Direct Wired Connections, Power Line Communication (PLC) Systems, and Integrated Control Systems
- For Wireless connectivity: Wi-Fi Enabled Street Lights, Zigbee-Based Connectivity, Cellular (4G or 5G) Connected Street Lights, LoRaWAN (Long Range Wide Area Network) Systems, and Satellite-Based Communication Systems
This segmentation provides a comprehensive view of the market's structure, highlighting the diverse technologies and usage scenarios shaping the LED street light industry's growth.
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