Street lightning market is anticipated to grow at a significant CAGR of 6.4% during the forecast period. The demand for use of smart street lighting for energy conservation and high efficiency is boosting the market. Energy efficient technologies and design can cut street lighting costs dramatically often by 25-60%, these savings can eliminate or reduce the need for new power generating plants and provide the capital for alternative energy solutions for populations in remote areas. According to World Bank data the global population continues to grow at 1.1% per year and people are migrating to urban areas, so smarter land and resource use is becoming a significant area of research which fuels the use of smart street lightning across the globe. Information collection through innovative technologies such as Smart Street Lighting are important sources of data and insights for Smart Cities to improve asset management and energy conservation which is growing the demand for smart street lighting across the globe. Smart street lighting is a cost-effective solution which compromises of advance wireless communication techniques, low cost LED lights and additional sensors which controls the intensity of light. This new system provides cost and energy savings over the conventional lightning. The smart street lights can control remotely the output of individual streetlights, detect faults, monitor energy performance and, when coupled with sensors, even facilitate real time alerts for city-wide problems like traffic flow, parking spaces, electrical outages, and possible accidents and others. On the other hand, the traditional lights consume high power, have a shorter lifetime, and high replacement cost, majorly hindering the street lighting market. These factors are creating demand for street lights in the forecast period as smart street lighting uses a management system which enables streetlight luminaires that are connected to be remotely controlled and monitored through a centralised online application which conserves energy and is more efficient.
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The global street lightning market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa, and Latin America). The market can be analyzed for a particular region or country level as per the requirement. North America is anticipated to grow at the fastest rate during the forecast period, owing to the rapid development of infrastructure such as smart cities, the US is leading to the development of intelligent infrastructures with smart lighting such as LEDs for energy-efficient lighting systems, which is fueling the market growth. According to The White House, in August 2021 the President and the bipartisan group announced agreement on the details of a once-in-a-generation investment in infrastructure. The legislation includes around $550 billion in new federal investment in America’s roads and bridges, water infrastructure, and more. The bipartisan Infrastructure Investment and Jobs Act will invest $110 billion of new funds for roads, and major projects, and reauthorize the surface transportation program for the next five years building on bipartisan surface transportation reauthorization bills passed out of committee earlier this year. This investment will repair and rebuild roads and bridges with a focus on climate change mitigation, resilience, equity, and safety for all users, including cyclists and pedestrians. The bill includes a total of $40 billion of new funding for bridge repair, replacement, and rehabilitation, which is a dedicated bridge investment since the construction of the interstate highway system.
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- Market Coverage
- Market number available for – 2024-2030
- Base year- 2023
- Forecast period- 2024-2030
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Street Lightning Market Report Segment
By Light Source
- LEDs
- Fluorescent Lights
- HID Lamps
By Wattage Type
- Less than 50W
- Between 50W and 150W
- More than 150W
By End-Use
- Highways
- Street and Roadways
- Others
Global Street Lightning Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global street lightning market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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