Smart Street Lighting Market Growth, Size, Trends, Demand, Revenue, Share and Future Outlook
Smart Street Lighting Market Size- By Component, By Type, By Application- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Dec-2023 | Report ID: IACT23208 | Pages: 1 - 230 | Formats*: |
| Category : Information & Communications Technology | |||
Street Lighting Market Introduction and Overview Introduction and Overview
According to SPER Market Research, the Global Smart Street Lighting Market is estimated to reach USD 16.76 billion by 2033 with a CAGR of 19.46%.
The report includes an in-depth analysis of the Global Smart Street Lighting market, including market size and trends, product mix, distribution channels, and supplier analysis. The term "smart" street light describes street lighting in public areas that adjusts to the movements of vehicles, cyclists, and pedestrians. Another name for it is adaptive street lighting, which turns on when motion is detected and turns off when none is. In order to ensure better service quality and timely error correction, smart street lighting systems can detect maintenance problems and lighting failures in real time. This also eliminates the requirement for routine maintenance-related checks.
- SAP SE has acquired Signavio GmbH, a provider of process management and business process intelligence. The integration of SAP's business process intelligence unit with Signavio will aid in the transformation and improvement of the organization's business processes at scale.
- GE Current acquired Hubbell Incorporated's Commercial & Industrial (C&I) lighting business, creating an overall lighting solutions business known as Current. The combined company now provides a diverse portfolio of fixtures and controls, lamps, roadway, signage, transportation, and horticulture markets.
Market Opportunities and Challenges
Opportunities: An increasing amount of energy optimization is needed to spur market expansion.
Intelligent maintenance schedules for smart street lighting are available to report and track malfunctioning lights, thereby lowering maintenance and repair expenses. Since connected LEDs have lower power requirements and can be remotely turned on, off, or dimmed, they enable increased energy efficiency with proper management, resulting in an average 25% energy savings for connected street lighting systems.
Challenges: Demand for Smart Street Lighting May Be Limited by Cybersecurity Concerns.
Security and privacy issues with lighting systems are expanding along with the proliferation of connected lighting systems equipped with Wi-Fi, Li-Fi, and sensor features. Significant harm could be caused by cyberattacks, including the suspension or cessation of essential services like power and water. Cyberattacks may also result in the acquisition and improper use of private information or video recordings of citizens' activities. Attacks using ransomware have in some instances even prevented city employees from accessing municipal computers and networks, forcing a suspension of operations until significant payments are received.
Market Competitive Landscape
The market for Global Smart Street Lighting is highly competitive. Acuity Brands Inc., CIMCON Lighting, Delta Electronics Inc, Echelon Corporation, GridComm, Guangdong Rongwen Energy Technology Group, InteliLIGHT (Flashnet SA), Itron Inc., Sensus (a Xylem Brand), Signify Holding, Telensa Limited, TVILIGHT Projects BV, Others. These are the some major players in the market.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Component, By Type, By Application |
| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe |
| Companies Covered | Acuity Brands Inc., CIMCON Lighting, Delta Electronics Inc, Echelon Corporation, GridComm, Guangdong Rongwen Energy Technology Group, InteliLIGHT (Flashnet SA), Itron Inc., Sensus (a Xylem Brand), Signify Holding, Telensa Limited, TVILIGHT Projects BV, Others |
COVID-19 Impact on Global Smart Street Lighting Market
The market for (smart) street lights has been greatly impacted by the COVID-19 pandemic. The global stagnation of new projects has resulted in a reduction in the demand for analog semiconductors. Global supply chains have been disrupted as workers have stayed at home, making it difficult for factories around the world to adopt new techniques. COVID-19's effects on this market are only momentary because the supply chain and production are both halted. Production, supply networks, and demand for connected (smart) street lights will all progressively rise as things get better. In order to increase efficiency, this COVID-19 lockdown would encourage businesses to consider more sophisticated connected (Smart) street lights.
Key Target Audience:
- City Planners and Municipal Authorities
- Government Agencies and Regulatory Bodies
- Urban Development and Infrastructure Companies
- Technology Providers and Suppliers
- Energy Management and Utility Companies
Our in-depth analysis of the Smart Street Lighting Market includes the following segments:
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| By Type: |
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| By Application: |
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Key Topics Covered in the Report:
- Global Smart Street Lighting Market Size (FY’2023-FY’2033)
- Overview of Global Smart Street Lighting Market
- Segmentation of Global Smart Street Lighting Market By Component (Hardware, Software, Services)
- Segmentation of Global Smart Street Lighting Market By Type (Narrowband, Broadband)
- Segmentation of Global Smart Street Lighting Market By Application (Smart Parking, Street Light Management)
- Statistical Snap of Global Smart Street Lighting Market
- Expansion Analysis of Global Smart Street Lighting Market
- Problems and Obstacles in Global Smart Street Lighting Market
- Competitive Landscape in the Global Smart Street Lighting Market
- Impact of COVID-19 and Demonetization on Global Smart Street Lighting Market
- Details on Current Investment in Global Smart Street Lighting Market
- Competitive Analysis of Global Smart Street Lighting Market
- Prominent Players in the Global Smart Street Lighting Market
- SWOT Analysis of Global Smart Street Lighting Market
- Global Smart Street Lighting Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Smart Street Lighting Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Smart Street Lighting Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Smart Street Lighting Market
7. Global Smart Street Lighting Market, By Component (USD Million)
7.1. Global Smart Street Lighting Market Value Share and Forecast, By Component, 2023-20337.2. Hardware7.3. Software7.4. Services
8. Global Smart Street Lighting Market, By Type (USD Million)
8.1. Global Smart Street Lighting Market Value Share and Forecast, By Type, 2023-20338.2. Narrowband8.3. Broadband
9. Global Smart Street Lighting Market, By Application (USD Million)
9.1. Global Smart Street Lighting Market Value Share and Forecast, By Application, 2023-20339.2. Smart Parking9.3. Street Light Management
10. Global Smart Street Lighting Market Forecast, 2019-2033 (USD Million)
10.1. Global Smart Street Lighting Market Size and Market Share
11. Global Smart Street Lighting Market, By Component, 2019-2033 (USD Million)
11.1. Global Smart Street Lighting Market Size and Market Share By Component (2019-2026)11.2. Global Smart Street Lighting Market Size and Market Share By Component (2027-2033)
12. Global Smart Street Lighting Market, By Type, 2019-2033 (USD Million)
12.1. Global Smart Street Lighting Market Size and Market Share By Type (2019-2026)12.2. Global Smart Street Lighting Market Size and Market Share By Type (2027-2033)
13. Global Smart Street Lighting Market, By Application, 2019-2033 (USD Million)
13.1. Global Smart Street Lighting Market Size and Market Share By Application (2019-2026)13.2. Global Smart Street Lighting Market Size and Market Share By Application (2027-2033)
14. Global Smart Street Lighting Market, By Region, 2019-2033 (USD Million)
14.1. Global Smart Street Lighting Market Size and Market Share By Region (2019-2026)14.2. Global Smart Street Lighting Market Size and Market Share By Region (2027-2033)14.3. Asia-Pacific
14.3.1. Australia14.3.2. China14.3.3. India14.3.4. Japan14.3.5. South Korea14.3.6. Rest of Asia-Pacific
14.4. Europe
14.4.1. France14.4.2. Germany14.4.3. Italy14.4.4. Spain14.4.5. United Kingdom14.4.6. Rest of Europe
14.5. Middle East and Africa
14.5.1. Kingdom of Saudi Arabia14.5.2. United Arab Emirates14.5.3. Rest of Middle East & Africa
14.6. North America
14.6.1. Canada14.6.2. Mexico14.6.3. United States
14.7. Latin America
14.7.1. Argentina14.7.2. Brazil
14.7.3. Rest of Latin America
15. Company Profile
15.1. Acuity Brands Inc.
15.1.1. Company details15.1.2. Financial outlook15.1.3. Product summary15.1.4. Recent developments
15.2. CIMCON Lighting
15.2.1. Company details15.2.2. Financial outlook15.2.3. Product summary15.2.4. Recent developments
15.3. Delta Electronics Inc
15.3.1. Company details15.3.2. Financial outlook15.3.3. Product summary15.3.4. Recent developments
15.4. Echelon Corporation
15.4.1. Company details15.4.2. Financial outlook15.4.3. Product summary15.4.4. Recent developments
15.5. GridComm
15.5.1. Company details15.5.2. Financial outlook15.5.3. Product summary15.5.4. Recent developments
15.6. Guangdong Rongwen Energy Technology Group
15.6.1. Company details15.6.2. Financial outlook15.6.3. Product summary15.6.4. Recent developments
15.7. InteliLIGHT (Flashnet SA)
15.7.1. Company details15.7.2. Financial outlook15.7.3. Product summary15.7.4. Recent developments
15.8. Itron Inc.
15.8.1. Company details15.8.2. Financial outlook15.8.3. Product summary15.8.4. Recent developments
15.9. Sensus, a Xylem Brand
15.9.1. Company details15.9.2. Financial outlook15.9.3. Product summary15.9.4. Recent developments
15.10. Signify Holding
15.10.1. Company details15.10.2. Financial outlook15.10.3. Product summary15.10.4. Recent developments
15.11. Telensa Limited
15.11.1. Company details15.11.2. Financial outlook15.11.3. Product summary15.11.4. Recent developments
15.12. TVILIGHT Projects BV
15.12.1. Company details15.12.2. Financial outlook15.12.3. Product summary
15.13. Others
16. List of Abbreviations
17. Reference Links
18. Conclusion
19. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Street Lighting Market is projected to reach USD 16.76 billion by 2033, growing at a CAGR of 19.46% during the forecast period.
Street Lighting Market grew in market size from 2022. The Market is expected to reach USD 16.76 billion by 2033, at a CAGR of 19.46% during the forecast period.
Street Lighting Market CAGR of 19.46% during the forecast period.
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Street Lighting Market size is USD 16.76 billion from 2023 to 2033.
Europe Wastewater Treatment Market Segment is covered By Component, By Type, By Application.
The North America is anticipated to have the highest market share in the Street Lighting Market.
"The key players in the market include Companies Covered Acuity Brands Inc., CIMCON Lighting, Delta Electronics Inc, Echelon Corporation, GridComm, Guangdong Rongwen Energy Technology Group, InteliLIGHT (Flashnet SA), Itron Inc., Sensus (a Xylem Brand), Signify Holding, Telensa Limited, TVILIGHT Projects BV, Others.
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Another name for it is adaptive street lighting, which turns on when motion is detected and turns off when none is. In order to ensure better service quality and timely error correction.
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