USD 2.43 billion
Smart Street Lighting Market Size, Share, Growth Analysis, By Communication(NB-IoT, Powerline Communication, Radio Frequency, Others (Ultra- Narrowband), By Application(Environmental Monitoring, Traffic Optimization, Smart Parking, and Others), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45N2081 |
Region:
Global |
Published Date: March, 2024
Pages:
197
|Tables:
66
|Figures:
70
Smart Street Lighting Market Insights
Global Smart Street Lighting Market size was valued at USD 2.43 billion in 2022 and is poised to grow from USD 2.53 billion in 2023 to USD 3.46 billion by 2031, growing at a CAGR of 4.00% during the forecast period (2024-2031).
The global smart street lighting market is witnessing significant growth driven by technological advancements and the increasing demand for energy-efficient solutions. Smart street lighting refers to an intelligent system that utilizes sensors, communication networks, and data analytics to enhance the efficiency and functionality of street lighting. This market is being fueled by factors such as the need for energy conservation, reduction in carbon emissions, and the growing trend towards urbanization.
Smart street lighting systems offer benefits such as remote monitoring and control, adaptive lighting based on real-time data, and reduced energy consumption through dimming or turning off lights when not needed. The adoption of smart city initiatives and the integration of Internet of Things (IoT) technology further accelerate the market growth.
The market is segmented based on components, communication technology, and end-users. Components include hardware (LED lamps, sensors, and controllers) and software (data management, analytics). Communication technologies involve wired and wireless solutions. End-users encompass residential areas, commercial spaces, and public infrastructure.
Geographically, North America and Europe hold significant shares due to early technology adoption, environmental consciousness, and supportive regulatory frameworks. The Asia Pacific region is emerging as a lucrative market, driven by rapid urbanization in countries like China and India and government initiatives for smart city development.
Key drivers of the smart street lighting market include energy efficiency goals, cost savings through reduced energy consumption, increased safety and security, and the potential for creating a more connected and intelligent urban environment. As cities continue to grow and modernize, the demand for smart street lighting solutions is expected to surge, reshaping urban landscapes towards more sustainable and connected communities.
US Smart Street Lighting Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Radio Frequency
Fastest Growth
Radio Frequency
Growth Rate
4.00% CAGR
Global Smart street lighting market ($ Bn)
Country Share for Europe Region (%)
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Smart Street Lighting Market Segmental Analysis
The smart street lighting market is segmented on the basis of Communication Technology, Application, End-user, and Region. Based on Communication Technology the market is segmented as, NB-IoT, Powerline Communication, Radio Frequency, Others (Ultra- Narrowband, LoRa). Based on Application the market is segmented as, Environmental Monitoring, Traffic Optimization, Smart Parking, Others. Based on End-user the market is segmented as, Commercial, Residential, and Industrial. Based on Regional the market is segmented as, North America, Europe, Asia Pacific, and LAMEA.
Smart Street Lighting Market Analysis By Communication
Segmented by communication technology, the smart street lighting market encompasses NB-IoT, powerline communication, radio frequency, and others (including ultra-narrowband and LoRa).
Among these segments, the radio frequency category stands out as the dominant player during the projected time frame. In situations where hardwired control systems are in use, communication signals traverse through dedicated cables. On the other hand, RF-based solutions leverage radio waves for communication with control devices. This wireless approach is preferred due to its reliability in providing lighting control solutions. RF-based connected lighting setups eliminate the need for intricate control wiring, leading to labor cost savings and enhanced installation flexibility.
Furthermore, the NB-IoT technology exhibits the highest projected growth rate. Incorporating various IoT networking technologies into street lighting solutions augments the potential impact of smart cities. The integration of remote systems for street lighting, spanning wired and wireless communication methods, as well as the incorporation of cloud-based systems, serves to remotely manage smart street lighting setups. This trend is a pivotal driver propelling the expansion of the smart street lighting market.
Smart Street Lighting Market Analysis By Application
The market is categorized by application into environmental monitoring, traffic optimization, smart parking, and others.
Traffic optimization takes the lead with the highest market share. The strategic placement of light poles alongside roads provides an ideal location to mount sensors for traffic monitoring. Smart street lights are equipped with an array of cameras and sensors, collecting valuable data to enhance urban functionality, aid residents, and empower authorities with informed decision-making. By harnessing the potential of the Internet of Things (IoT), smart street lights enable wireless communication, facilitating real-time maintenance updates, traffic monitoring, and alerting officials about potential security concerns.
Additionally, the smart parking application is projected to exhibit the highest growth rate throughout the forecast period. Integrated into connected street lighting are motion sensors that optimize energy consumption and enhance citizen safety. Furthermore, these smart lighting systems can monitor traffic flow, pedestrian crossings, parking spaces, weather changes, and even seismic activity. They can incorporate cameras for crime-solving purposes, speakers to broadcast vital information during critical situations, or verify waste collection schedules, among other functionalities. This trend is instrumental in driving the adoption of smart street lighting solutions.
Global Smart street lighting market By Communication
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Smart Street Lighting Market Regional Insights
The market is segmented into North America, Latin America, Europe, the Middle East & Africa, and Asia Pacific. Europe stands at the forefront of the global connected street lighting system technology market. The region is witnessing active efforts from lighting associations to implement smart lighting controls in both public and private sectors. For example, Wellness TechGroup, a European technology provider, collaborated with National Narrowband Network Company to introduce IoT network coverage for around 70,000 smart street lights in Montevideo, Uruguay. This initiative not only covers a substantial area and population but also contributes to an 80% reduction in carbon emissions, enhancing community and road safety. Such endeavors are set to bolster the adoption of connected street lights across Europe.
North America is projected to exhibit a notable CAGR over the forecast period. The region's focus on energy conservation and regulatory measures to curtail energy consumption has paved the way for the growth of smart lighting solutions. Particularly, the commercial sector in North America incurs substantial operational costs related to lighting, creating a favorable environment for the adoption of cost-effective smart lighting solutions. Hence, North America emerges as a significant potential market within the lighting industry, particularly for smart lighting solutions.
Meanwhile, Asia Pacific experiences robust market growth, attributed to technological advancements and governmental initiatives aimed at smart city development. The region's shift away from incandescent lamps, along with policies promoting energy conservation and environmental protection, has heightened the demand for energy-efficient connected lighting controls. The ongoing and upcoming smart city projects across developing economies are also contributing to market expansion. As commercial enterprises increasingly seek automated and connected street lighting systems, the Asia Pacific market is anticipated to witness further acceleration in growth.
Global Smart street lighting market By Geography
- Largest
- Fastest
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Smart Street Lighting Market Dynamics
Smart Street Lighting Market Drivers
Energy Efficiency and Cost Savings:
- Smart street lighting systems offer significant energy savings by adjusting light intensity based on real-time conditions, resulting in reduced electricity consumption and operational costs.
Technological Advancements:
- Advances in IoT, wireless communication, and sensor technologies have enabled more efficient and reliable control and monitoring of street lights, driving the adoption of smart solutions.
Smart Street Lighting Market Restraints
High Initial Costs:
- The upfront investment required for deploying smart street lighting systems, including sensors, controllers, and communication infrastructure, can be a significant barrier, especially for budget-constrained municipalities.
Data Privacy and Security Concerns:
- The integration of sensors and cameras in smart lighting systems raises privacy concerns as data collected from public spaces need to be safeguarded from unauthorized access and misuse.
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Smart Street Lighting Market Competitive Landscape
The competitive landscape of the smart street lighting market is characterized by the presence of numerous established players and new entrants striving to capitalize on the growing demand for intelligent lighting solutions. Prominent companies in the market are focusing on research and development to innovate their product offerings and enhance their competitive advantage. These players are emphasizing partnerships, collaborations, and strategic alliances to expand their market footprint and develop comprehensive solutions that integrate various technologies, including IoT, sensors, and data analytics. Moreover, mergers and acquisitions are becoming common strategies for companies to strengthen their capabilities and broaden their customer base. Key players are also investing in providing end-to-end solutions, including installation, maintenance, and software platforms to ensure seamless integration and operation of smart street lighting systems. As the market continues to evolve, competition is expected to intensify, driving technological advancements and customer-centric solutions that cater to the specific needs of cities and urban infrastructure projects.
Smart Street Lighting Market Top Player’s Company Profile
- Philips Lighting (now Signify)
- Siemens AG
- General Electric Company
- Osram Licht AG
- Acuity Brands, Inc.
- Eaton Corporation
- Cree, Inc.
- Telensa
- Silver Spring Networks (acquired by Itron)
- Zumtobel Group
- Schréder Group
- Virtual Extension
- Flashnet
- Thorn Lighting
- DimOnOff
Smart Street Lighting Market Recent Developments
- In January 2023, Signify announced the launch of its new CityTouch street lighting system. The CityTouch system uses sensors to collect data on traffic patterns and other factors, which is used to optimize the lighting.
- In February 2023, Acuity Brands announced the launch of its new Sensus street lighting system. The Sensus system uses wireless technology to connect the lights, which allows for remote control and monitoring.
- In March 2023, Legrand announced the launch of its new LiFi street lighting system. The LiFi system uses light waves to transmit data, which can be used to control the lights or provide other services.
Smart Street Lighting Key Market Trends
- Connected Ecosystems: Smart street lighting is increasingly becoming a part of broader connected ecosystems in smart cities. Integration with other urban infrastructure like traffic management, waste disposal, and public safety systems enhances overall city efficiency.
Smart Street Lighting Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Component types team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global smart street lighting market analysis; energy efficiency, cost savings, and environmental concerns are compelling governments and municipalities worldwide to adopt smart lighting solutions. Technological advancements in IoT, sensors, and wireless communication have enabled efficient control and monitoring of street lights, enhancing urban infrastructure. The market is segmented by communication technology, including radio frequency and NB-IoT, and by applications such as traffic optimization and smart parking. Regionally, Europe leads the market due to initiatives promoting smart lighting controls in both public and private sectors. North America is poised for remarkable growth with energy conservation policies and the need for cost-effective lighting solutions. In Asia Pacific, technological advancements, government initiatives for smart cities, and energy conservation policies are driving market expansion. These drivers, combined with rising urbanization and safety concerns, are propelling the global smart street lighting market forward.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 2.43 billion |
| Market size value in 2031 | USD 3.46 billion |
| Growth Rate | 4.00% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Smart Street Lighting Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Smart Street Lighting Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Smart Street Lighting Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Smart Street Lighting Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Smart Street Lighting Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Smart Street Lighting Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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