The global market for Smart Street Lighting was valued at an estimated US$2.6 Billion in 2023 and is projected to reach US$8.5 Billion by 2030, growing at a CAGR of 18.1% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The growth in the smart street lighting market is driven by several factors, including rapid urbanization, the need for energy-efficient solutions, and advancements in IoT and communication technologies. As cities expand and populations grow, the demand for efficient and sustainable infrastructure becomes increasingly critical. Governments and municipalities are adopting smart street lighting to meet environmental regulations and reduce carbon footprints.
Technological advancements in IoT enable seamless integration and management of large networks of smart lights, making the deployment and operation of these systems more feasible and cost-effective. Additionally, there is a rising consumer preference for smart, connected urban environments that offer enhanced safety and convenience. The availability of funding and incentives for smart city projects also propels market growth, encouraging further innovation and adoption of smart street lighting solutions. As a result, the smart street lighting market is experiencing robust expansion, driven by the convergence of technological progress, urban development needs, and consumer expectations.
The growth in the smart street lighting market is driven by several factors, including rapid urbanization, the need for energy-efficient solutions, and advancements in IoT and communication technologies. As cities expand and populations grow, the demand for efficient and sustainable infrastructure becomes increasingly critical. Governments and municipalities are adopting smart street lighting to meet environmental regulations and reduce carbon footprints.
Technological advancements in IoT enable seamless integration and management of large networks of smart lights, making the deployment and operation of these systems more feasible and cost-effective. Additionally, there is a rising consumer preference for smart, connected urban environments that offer enhanced safety and convenience. The availability of funding and incentives for smart city projects also propels market growth, encouraging further innovation and adoption of smart street lighting solutions. As a result, the smart street lighting market is experiencing robust expansion, driven by the convergence of technological progress, urban development needs, and consumer expectations.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Smart Street Lighting Hardware segment, which is expected to reach US$4.4 Billion by 2030 with a CAGR of a 16.1%. The Smart Street Lighting Software segment is also set to grow at 21.4% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $558.7 Million in 2023, and China, forecasted to grow at an impressive 21.3% CAGR to reach $1.2 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Smart Street Lighting Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Smart Street Lighting Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global Smart Street Lighting Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Acuity Brands, Inc., Cree Lighting USA LLC, DimOnOff, Inc., and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Select Competitors (Total 91 Featured):
- Acuity Brands, Inc.
- Cree Lighting USA LLC
- DimOnOff, Inc.
- FLASHNET SA
- gridComm Pte. Ltd.
- Itron, Inc.
- Schiender Electric SE
- Signify Netherlands B.V.
Table of Contents
I. METHODOLOGYII. EXECUTIVE SUMMARY2. FOCUS ON SELECT PLAYERSIII. MARKET ANALYSISIV. COMPETITION
1. MARKET OVERVIEW
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
UNITED STATES
CANADA
JAPAN
CHINA
EUROPE
FRANCE
GERMANY
ITALY
UNITED KINGDOM
REST OF EUROPE
ASIA-PACIFIC
REST OF WORLD
Companies Mentioned
- Acuity Brands, Inc.
- Cree Lighting USA LLC
- DimOnOff, Inc.
- FLASHNET SA
- gridComm Pte. Ltd.
- Itron, Inc.
- Schiender Electric SE
- Signify Netherlands B.V.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 345 |
| Published | July 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 2.6 Billion |
| Forecasted Market Value ( USD | $ 8.5 Billion |
| Compound Annual Growth Rate | 18.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 8 |
