Smart Street Lighting Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2024-2031

Description

Persistence Market Research has recently released a comprehensive report on the global Smart Street Lighting Market, offering an in-depth analysis of key market dynamics, including drivers, emerging trends, opportunities, and challenges. This detailed report provides valuable insights into the market structure, helping stakeholders make well-informed decisions.

Key Insights:

Smart Street Lighting Market Size (2024E): US$ 3.33 Bn
Projected Market Value (2031F): US$ 5.61 Bn
Global Market Growth Rate (CAGR 2024 to 2031): 5.2%

Smart Street Lighting Market - Report Scope:

Smart street lighting systems utilize advanced technologies like LEDs, sensors, and connectivity solutions to improve energy efficiency and optimize street lighting. These systems offer benefits such as reducing energy consumption, minimizing maintenance costs, and enhancing urban infrastructure. The market growth is driven by the global push toward energy-efficient solutions, the increasing adoption of smart city technologies, and government initiatives focusing on sustainable urban development.

Market Growth Drivers:

Several key factors are fueling the growth of the global smart street lighting market. The growing demand for energy-efficient lighting solutions, rising environmental concerns, and the increasing need for smart city infrastructure are driving market expansion. Government incentives and regulations promoting energy savings and sustainability are further boosting the adoption of smart street lighting systems. Technological advancements in LED lighting, IoT connectivity, and remote monitoring capabilities are enhancing the effectiveness and efficiency of smart street lights, contributing to their widespread implementation.

Market Restraints:

Despite promising growth, the smart street lighting market faces challenges such as high initial installation costs, which can hinder adoption, especially in developing regions. Additionally, concerns over cybersecurity risks related to the use of connected systems and the need for proper infrastructure may limit market growth. The complexity of integrating smart street lighting systems with existing infrastructure and the lack of standardization in terms of technology and protocols may also slow down market penetration.

Market Opportunities:

The smart street lighting market presents substantial growth opportunities driven by the increasing focus on smart city initiatives and sustainability goals. The growing adoption of renewable energy sources, such as solar power, in smart street lighting systems presents an avenue for market growth. Moreover, advancements in wireless communication technologies and energy-efficient components will further drive the development of innovative and cost-effective lighting solutions. Strategic collaborations between technology providers, government bodies, and urban planners can unlock new opportunities and contribute to the market's growth.

Key Questions Answered in the Report:

What are the primary factors driving the global growth of the smart street lighting market?
Which types of smart street lighting systems are witnessing the highest adoption in different regions?
How are advancements in connectivity and energy efficiency influencing market trends?
Who are the key players in the smart street lighting market, and what strategies are they using to remain competitive?
What are the emerging trends and future prospects in the smart street lighting market?

Competitive Intelligence and Business Strategy:

Leading players in the global smart street lighting market, including Hubbell Lighting, Inc., GE Lighting, LLC, and OSRAM Light AG, are focusing on innovation, product differentiation, and strategic partnerships to maintain a competitive edge. These companies are investing in the development of energy-efficient lighting systems, advanced sensor technologies, and smart city integrations. Collaborations with urban developers, government authorities, and technology providers are key to expanding market reach and driving adoption. Moreover, companies are focusing on enhancing product performance, improving scalability, and offering cost-effective solutions to address the needs of different urban environments.

Key Companies Profiled:

Hubbell Lighting, Inc.
GE Lighting, LLC
OSRAM Light AG
Royal Philips NV
Acuity Brands Lighting, Inc.
Eaton Corporation
Schneider Electric S.E.
Honeywell International
Lutron Electronics
Cree, Inc.
Others

Smart Street Lighting Industry Research by Category:

By Type:

LED
CFL
Incandescent
Others

By Connectivity:

Wired
Wireless

By Energy Source:

Traditional and Other Renewable Energy
Solar

By Region:

North America
Latin America
Europe
East Asia
South Asia Pacific
The Middle East and Africa

Product Code: PMRREP20449

1. Executive Summary

1.1. Global Smart Street Lighting Market Snapshot, 2024 - 2031
1.2. Market Opportunity Assessment, 2024 - 2031, US$ Bn
1.3. Key Market Trends
1.4. Future Market Projections
1.5. Premium Market Insights
1.6. Industry Developments and Key Market Events
1.7. PMR Analysis and Recommendations

2. Market Overview

2.1. Market Scope and Definition
2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Opportunity
- 2.2.4. Challenges
- 2.2.5. Key Trends
2.3. Macro-Economic Factors
- 2.3.1. Global Sectorial Outlook
- 2.3.2. Global GDP Growth Outlook
- 2.3.3. Global Infrastructure Spending Outlook
- 2.3.4. Global Electronics Market Outlook
2.4. COVID-19 Impact Analysis
2.5. Forecast Factors - Relevance and Impact

3. Value Added Insights

3.1. Product Adoption Analysis
3.2. Product Assessment
3.3. Regulatory Landscape
3.4. Value Chain Analysis
- 3.4.1. List of Raw Material Supplier
- 3.4.2. List of Manufacturers
- 3.4.3. List of Distributors
- 3.4.4. Profitability Analysis
3.5. Key Deals and Mergers
3.6. PESTLE Analysis
3.7. Porter's Five Force Analysis
3.8. Geopolitical Tensions: Market Impact

4. Price Trend Analysis, 2019 - 2031

4.1. Key Highlights
4.2. Key Factors Impacting Product Prices
4.3. Pricing Analysis, By Type
4.4. Regional Prices and Product Preferences

5. Global Smart Street Lighting Market Outlook: Historical (2019 - 2023) and Forecast (2024 - 2031)

5.1. Key Highlights
- 5.1.1. Market Volume (Units) Projections
- 5.1.2. Market Size (US$ Bn) and Y-o-Y Growth
- 5.1.3. Absolute $ Opportunity
5.2. Market Size (US$ Bn) Analysis and Forecast
- 5.2.1. Historical Market Size (US$ Bn) Analysis, 2019 - 2023
- 5.2.2. Current Market Size (US$ Bn) Analysis and Forecast, 2024 - 2031
5.3. Global Smart Street Lighting Market Outlook: Type
- 5.3.1. Introduction / Key Findings
- 5.3.2. Historical Market Size (US$ Bn) Analysis, By Type, 2019 - 2023
- 5.3.3. Current Market Size (US$ Bn) Forecast, By Type, 2024 - 2031
  - 5.3.3.1. LED
  - 5.3.3.2. CFL
  - 5.3.3.3. Incandescent
  - 5.3.3.4. Others
5.4. Market Attractiveness Analysis: Type
5.5. Global Smart Street Lighting Market Outlook: Connectivity
- 5.5.1. Introduction / Key Findings
- 5.5.2. Historical Market Size (US$ Bn) Analysis, By Connectivity, 2019 - 2023
- 5.5.3. Current Market Size (US$ Bn) Analysis and Forecast, By Connectivity, 2024 - 2031
  - 5.5.3.1. Wired
  - 5.5.3.2. Wireless
5.6. Market Attractiveness Analysis: Connectivity
5.7. Global Smart Street Lighting Market Outlook: Energy Source
- 5.7.1. Introduction / Key Findings
- 5.7.2. Historical Market Size (US$ Bn) Analysis, By Energy Source, 2019 - 2023
- 5.7.3. Current Market Size (US$ Bn) Analysis and Forecast, By Energy Source, 2024 - 2031
  - 5.7.3.1. Traditional & Other Renewable Energy
  - 5.7.3.2. Solar
5.8. Market Attractiveness Analysis: Energy Source

6. Global Smart Street Lighting Market Outlook: Region

6.1. Key Highlights
6.2. Historical Market Size (US$ Bn) Analysis, By Region, 2019 - 2023
6.3. Current Market Size (US$ Bn) Forecast, By Region, 2024 - 2031
- 6.3.1. North America
- 6.3.2. Europe
- 6.3.3. East Asia
- 6.3.4. South Asia and Oceania
- 6.3.5. Latin America
- 6.3.6. Middle East & Africa
6.4. Market Attractiveness Analysis: Region

7. North America Smart Street Lighting Market Outlook: Historical (2019 - 2023) and Forecast (2024 - 2031)

7.1. Key Highlights
7.2. Pricing Analysis
7.3. Historical Market Size (US$ Bn) Analysis, By Market, 2019 - 2023
- 7.3.1. By Country
- 7.3.2. By Type
- 7.3.3. By Connectivity
- 7.3.4. By Energy Source
7.4. Current Market Size (US$ Bn) Analysis and Forecast, By Country, 2024 - 2031
- 7.4.1. U.S.
- 7.4.2. Canada
7.5. Current Market Size (US$ Bn) Analysis and Forecast, By Type, 2024 - 2031
- 7.5.1. LED
- 7.5.2. CFL
- 7.5.3. Incandescent
- 7.5.4. Others
7.6. Current Market Size (US$ Bn) Analysis and Forecast, By Connectivity, 2024 - 2031
- 7.6.1. Wired
- 7.6.2. Wireless
7.7. Current Market Size (US$ Bn) Analysis and Forecast, By Energy Source, 2024 - 2031
- 7.7.1. Traditional & Other Renewable Energy
- 7.7.2. Solar
7.8. Market Attractiveness Analysis

8. Europe Smart Street Lighting Market Outlook: Historical (2019 - 2023) and Forecast (2024 - 2031)

8.1. Key Highlights
8.2. Pricing Analysis
8.3. Historical Market Size (US$ Bn) Analysis, By Market, 2019 - 2023
- 8.3.1. By Country
- 8.3.2. By Type
- 8.3.3. By Connectivity
- 8.3.4. By Energy Source
8.4. Current Market Size (US$ Bn) Analysis and Forecast, By Country, 2024 - 2031
- 8.4.1. Germany
- 8.4.2. France
- 8.4.3. U.K.
- 8.4.4. Italy
- 8.4.5. Spain
- 8.4.6. Russia
- 8.4.7. Turkey
- 8.4.8. Rest of Europe
8.5. Current Market Size (US$ Bn) Analysis and Forecast, By Type, 2024 - 2031
- 8.5.1. LED
- 8.5.2. CFL
- 8.5.3. Incandescent
- 8.5.4. Others
8.6. Current Market Size (US$ Bn) Analysis and Forecast, By Connectivity, 2024 - 2031
- 8.6.1. Wired
- 8.6.2. Wireless
8.7. Current Market Size (US$ Bn) Analysis and Forecast, By Energy Source, 2024 - 2031
- 8.7.1. Traditional & Other Renewable Energy
- 8.7.2. Solar
8.8. Market Attractiveness Analysis

9. East Asia Smart Street Lighting Market Outlook: Historical (2019 - 2023) and Forecast (2024 - 2031)

9.1. Key Highlights
9.2. Pricing Analysis
9.3. Historical Market Size (US$ Bn) Analysis, By Market, 2019 - 2023
- 9.3.1. By Country
- 9.3.2. By Type
- 9.3.3. By Connectivity
- 9.3.4. By Energy Source
9.4. Current Market Size (US$ Bn) Analysis and Forecast, By Country, 2024 - 2031
- 9.4.1. China
- 9.4.2. Japan
- 9.4.3. South Korea
9.5. Current Market Size (US$ Bn) Analysis and Forecast, By Type, 2024 - 2031
- 9.5.1. LED
- 9.5.2. CFL
- 9.5.3. Incandescent
- 9.5.4. Others
9.6. Current Market Size (US$ Bn) Analysis and Forecast, By Connectivity, 2024 - 2031
- 9.6.1. Wired
- 9.6.2. Wireless
9.7. Current Market Size (US$ Bn) Analysis and Forecast, By Energy Source, 2024 - 2031
- 9.7.1. Traditional & Other Renewable Energy
- 9.7.2. Solar
9.8. Market Attractiveness Analysis

10. South Asia & Oceania Smart Street Lighting Market Outlook: Historical (2019 - 2023) and Forecast (2024 - 2031)

10.1. Key Highlights
10.2. Pricing Analysis
10.3. Historical Market Size (US$ Bn) Analysis, By Market, 2019 - 2023
- 10.3.1. By Country
- 10.3.2. By Type
- 10.3.3. By Connectivity
- 10.3.4. By Energy Source
10.4. Current Market Size (US$ Bn) Analysis and Forecast, By Country, 2024 - 2031
- 10.4.1. India
- 10.4.2. Southeast Asia
- 10.4.3. ANZ
- 10.4.4. Rest of South Asia & Oceania
10.5. Current Market Size (US$ Bn) Analysis and Forecast, By Type, 2024 - 2031
- 10.5.1. LED
- 10.5.2. CFL
- 10.5.3. Incandescent
- 10.5.4. Others
10.6. Current Market Size (US$ Bn) Analysis and Forecast, By Connectivity, 2024 - 2031
- 10.6.1. Wired
- 10.6.2. Wireless
10.7. Current Market Size (US$ Bn) Analysis and Forecast, By Energy Source, 2024 - 2031
- 10.7.1. Traditional & Other Renewable Energy
- 10.7.2. Solar
10.8. Market Attractiveness Analysis

11. Latin America Smart Street Lighting Market Outlook: Historical (2019 - 2023) and Forecast (2024 - 2031)

11.1. Key Highlights
11.2. Pricing Analysis
11.3. Historical Market Size (US$ Bn) Analysis, By Market, 2019 - 2023
- 11.3.1. By Country
- 11.3.2. By Type
- 11.3.3. By Connectivity
- 11.3.4. By Energy Source
11.4. Current Market Size (US$ Bn) Analysis and Forecast, By Country, 2024 - 2031
- 11.4.1. Brazil
- 11.4.2. Mexico
- 11.4.3. Rest of Latin America
11.5. Current Market Size (US$ Bn) Analysis and Forecast, By Type, 2024 - 2031
- 11.5.1. LED
- 11.5.2. CFL
- 11.5.3. Incandescent
- 11.5.4. Others
11.6. Current Market Size (US$ Bn) Analysis and Forecast, By Connectivity, 2024 - 2031
- 11.6.1. Wired
- 11.6.2. Wireless
11.7. Current Market Size (US$ Bn) Analysis and Forecast, By Energy Source, 2024 - 2031
- 11.7.1. Traditional & Other Renewable Energy
- 11.7.2. Solar
11.8. Market Attractiveness Analysis

12. Middle East & Africa Smart Street Lighting Market Outlook: Historical (2019 - 2023) and Forecast (2024 - 2031)

12.1. Key Highlights
12.2. Pricing Analysis
12.3. Historical Market Size (US$ Bn) Analysis, By Market, 2019 - 2023
- 12.3.1. By Country
- 12.3.2. By Type
- 12.3.3. By Connectivity
- 12.3.4. By Energy Source
12.4. Current Market Size (US$ Bn) Analysis and Forecast, By Country, 2024 - 2031
- 12.4.1. GCC Countries
- 12.4.2. Egypt
- 12.4.3. South Africa
- 12.4.4. Northern Africa
- 12.4.5. Rest of Middle East & Africa
12.5. Current Market Size (US$ Bn) Analysis and Forecast, By Type, 2024 - 2031
- 12.5.1. LED
- 12.5.2. CFL
- 12.5.3. Incandescent
- 12.5.4. Others
12.6. Current Market Size (US$ Bn) Analysis and Forecast, By Connectivity, 2024 - 2031
- 12.6.1. Wired
- 12.6.2. Wireless
12.7. Current Market Size (US$ Bn) Analysis and Forecast, By Energy Source, 2024 - 2031
- 12.7.1. Traditional & Other Renewable Energy
- 12.7.2. Solar
12.8. Market Attractiveness Analysis

13. Competition Landscape

13.1. Market Share Analysis, 2023
13.2. Market Structure
- 13.2.1. Competition Intensity Mapping By Market
- 13.2.2. Competition Dashboard
13.3. Company Profiles (Details - Overview, Financials, Strategy, Recent Developments)
- 13.3.1. Hubbell Lighting, Inc.
  - 13.3.1.1. Overview
  - 13.3.1.2. Segments and Products
  - 13.3.1.3. Key Financials
  - 13.3.1.4. Market Developments
  - 13.3.1.5. Market Strategy
- 13.3.2. GE Lighting, LLC
- 13.3.3. OSRAM Light AG
- 13.3.4. Royal Philips NV
- 13.3.5. Acuity Brands Lighting, Inc.
- 13.3.6. Eaton Corporation
- 13.3.7. Schneider Electric S.E
- 13.3.8. Honeywell International
- 13.3.9. Lutron Electronics
- 13.3.10. Cree, Inc.

14. Appendix

14.1. Research Methodology
14.2. Research Assumptions
14.3. Acronyms and Abbreviations