Connected (Smart) Street Lights Market

Connected (Smart) Street Lights Market Size (2024-2029)

The Smart Street Lights Market Size, valued at USD 0.6 Billion in 2023, is forecasted to rise from USD 0.7 Billion in 2024 to USD 1.77 billion by 2029, with a CAGR of 20.8% during the projected timeframe (2024 - 2029).

Connected (Smart) Street Lights Market overview

Connected (Smart) Street Lights are intelligent technology in the lighting system industry. They adjust automatically based on real-time road conditions and change according to realistic conditions. A bulk of presently deployed lighting devices are focused on traditional lighting technologies. Increasing awareness of energy conservation and efficient lighting techniques, however, is attracting attention from players operating in the connected street light market. Moreover, the industry is being fueled by the growth of cameras and wireless systems in the sector of smart lighting. The industry is experiencing growth as a supply for greener approaches that would promote sustainable development around the world is rising.

Connected (Smart) Street Lights Market Growth Drivers and Opportunities

The increasing awareness about the conservation of energy and efficient lighting techniques is gaining the attention of players operating in the global connected (smart) street light market, which is resulting in the growth of the market.The development of sensors and wireless technologies in the field of smart lighting coupled with the rise in the demand for greener strategies that would support sustainable development worldwide is anticipated to fuel the global connected (smart) street lights market. Moreover, one of the factors that are propelling connected street lights market is the advancements of the sensors and wireless technologies in the field of smart lighting.Also, the growing trend of rising in the smart cities, around the globe coupled with the initiatives taken by utility companies and government institutions of various countries to adopt to smart lighting technologies in order to save energy and reduce carbon emission is driving the growth of global connected street lights business. The rise in the demand for the greener strategies that would support sustainable development worldwide is also estimated to propel the target market extension.However, the connected (smart) street light market faces challenges in terms of poor infrastructure in developing economies owing to the underdeveloped network infrastructure and low internet penetration, which leads to low bandwidth availability in the underdeveloped countries.Increasing adoption of light-emitting diodes (LEDs), rising trend of street lighting systems tremendously, the lighting in commercial setups and high penetration of connected street light technology in smart cities are expected to provide lucrative opportunities to the global connected (smart) street light market in the near future.

Connected (Smart) Street Lights Market REPORT COVERAGE:

RECENT DEVELOPMENTS

• In March 2017, Philips Lighting will feature energy-efficient LED street lighting on the scenic island of Ameland, the Netherlands, and Philips ClearSky, a light spectrum particularly intended to be polite to migratory birds. The fresh building infrastructure is a significant milestone in assisting Ameland to attain its optimistic sustainability objectives through energy-saving and light pollution reduction.

• In April 2019, Itron Inc announced that the company is working with VINCI Energies' Electrix and Transport Canberra and City Services to create an Industrial Internet of Things network to support smart lighting and smart city and energy solutions in Australia's capital city of Canberra. This project represents Australia's largest stand-alone smart lighting project and the first contract in Australia and Oceania for energy performance.

• In April 2019, it was announced that Samsung SDS and Telensa are collaborating on smart city initiatives together. The two firms are working together on intelligent street lighting. The first cooperation will be in Korea's town initiatives, with wider deployments continuing throughout the Asia Pacific and the U.S.

Connected (Smart) Street Lights Market Segmentation

By Component

• Hardware

• Sensors

• Controllers

• Software

• Services

• Others

Based on the component, the market has been classified into hardware, software, and services. Furthermore, the hardware segment has been sub-classified into the light source, drivers & bal-lasts, sensors, switches, controllers, and others. The hardware segment accounted for a dominant portion in the global market and is likely to continue with a notable growth rate in the coming years.

By Connectivity

• Wired

• Wireless

In terms of connectivity, the market has been divided into wired and wireless, where the wireless segment holds a significant share of the global connected (smart) street light market. It is also ex-pected to continue its dominance during the outlook period due to the introduction of new wireless technologies such as Li-Fi.

By Application

• Traffic Monitoring

• Environmental Monitoring

• Video Surveillance

• Other Applications

Connected (Smart) Street Lights Market Regional Analysis

• North America

• Europe

• Asia Pacific

• Middle East and Africa

• Latin America

Europe holds the largest market share in smart street lighting followed by North America. Due to the projected benefits of intelligent road painting, which in fact decreases power usage and is also useful to the industry in this area, the numerous businesses and public departments in the U.K. are concentrating on intelligent road painting alternatives. Due to the requirement for energy-efficient alternative and increasing building sectors in this area, Asia Pacific is the highest increasing area in the intelligent flash industry.

Connected (Smart) Street Lights Market Key Players

Signify, Itron, Telensa, Echelon Corp, Rongwen, Current- powered by GE, DimOnOff, Flashnet, Sensus, GridComm