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 segmented based on the light source, wattage type, and end-user. Based on light source, the market is segmented into LEDs, fluorescent lights, and HID lamps. Based on wattage type, the market is sub-segmented into less than 50W , between 50W and 150W, and more than 150W . Based on end-user the market is segmented into highways, street and roadways, and others. The above mentioned segments can be customized as per the requirements. Based on end-user the street & roadways segment is anticipated to grow at the fastest rate during the forecast period. The main reason for the growth of the street and roadways segment is due to rapid urbanization and expansion of cities across the globe. The urban areas grows larger which requires new technical solutions for the urban infrastructures to be more energy efficient. One such important system is street lighting system. More street lighting is needed to satisfy the extended networks of roads and walkways, and many street lights are outdated which is needed to be replaced. According to UNCTAD, By 2020, the share of urban population increased to 56.2%. It is generally higher in the developed cities which was around 79.2% in 2020 than in the developing world which was 51.6%. In least developed countries the people living in urban areas are in the minority 34.6%. This shows the increasing urbanization which increases the number of streets and roadways in the urban areas, which further creates the demand for street lightning in that particular area. So this will boost the market during the forecast period.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- 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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