Global Smart/Connected Street Lights Market Size By Product (Hardware, Software, Services), By Application (Infrastructure, Shopping Plaza, Industrial Area, Public Road), By Geographic Scope And Forecast

Smart/Connected Street Lights Market Size And Forecast

Smart/Connected Street Lights Market size was valued at USD 2.57 Billion in 2024 and is projected to reach USD 11.53 Billion by 2031 , growing at a CAGR of 24.1 % during the forecast period 2024-2031. Growing infrastructure development particularly in emerging countries such as India and benefits offered by smart street lightings such as reduced energy cost are driving the growth of the Smart/Connected Street Lights Market across the globe. The Global Smart/Connected Street Lights Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Smart/Connected Street Lights Market Definition

Street lighting infrastructure is one of the most valuable and critically important assets for the city and government. Varying types of illumination are needed on the road so that traffic flows smoothly and people feel safe on road. Smart Street lights offer cities various advantages including energy-saving, limited CO2 emissions, limited light pollution, and also lower operations and maintenance costs. Along with this citizens feel safe and satisfied. Connected LED street lighting is a cost-effective and sustainable solution for cities in recent periods and also, into the future. Connected street lights allow Municipal Corporation to mount a security camera, a traffic counter or an EV charger, an environmental sensor on a street pole.

In the daytime, though street lights stay off only when the connected streetlight stays off during the daytime, still power flows through to the street pole. Smart street lights also offer exciting revenue-generating opportunities for the government such as leasing space for smart advertisement billboards besides that also lower the energy bill and operational cost. Smart/Connected Street Light system is mainly composed of LED or HID lamps of the highest efficiency. IoT-based communication system to generate digitally monitored, secure, and reliable network and last one is Addition of various smart sensors to monitor weather conditions, air pollution, traffic, and other things.

What's inside a VMR industry report?

Our reports include actionable data and forward-looking analysis that help you craft pitches, create business plans, build presentations and write proposals.

Global Smart/Connected Street Lights Market Overview

Street lighting is the most expensive and significant infrastructure asset done by municipalities and utilities. Growing infrastructure development, especially in developing countries such as India and Japan, are a major factor driving the growth of the Smart/Connected Street Lights Market. These government initiatives for developing smart countries is fueling the growth of the Smart/Connected Street Lights Market. Furthermore, the introduction of LEDs has reduced energy costs. Thus, such factors have led to transforming many cities into energy-efficient lighting solutions. This is another factor boosting the growth of the Smart/Connected Street Lights Market.

Additionally, governments across the globe are facing public and regulatory pressure to adopt more efficient and cost-effective energy solutions, and street lights with Internet-of-Things can provide all these benefits immediately. Hence the demand for smart street lights is accelerating the growth of the Smart/Connected Street Lights Market. Moreover, smart street lights will improve the quality of citizens' lives and also add more revenues to the income of the city, minimizing energy and operational costs. All these benefits are propelling the growth of the Smart/Connected Street Lights Market.

On the contrary, the lack of support for infrastructure development in some regions such as in developing countries is anticipated to restrict the growth of the Smart/Connected Street Lights Market. Additionally, high investment in smart lighting is hampering the growth of the Smart/Connected Street Lights Market. Nevertheless, growing infrastructure development in emerging countries and government initiatives to reduce energy costs are expected to provide lucrative opportunities for the Smart/Connected Street Lights Market in the years to come.

Global Smart/Connected Street Lights Market: Segmentation Analysis

The Global Smart/Connected Street Lights Market is Segmented on the basis of Product, Application, And Geography.

Smart/Connected Street Lights Market, By Product

• Hardware
• Software
• Services

Based on Product, the market is segmented into Hardware, Software, and Services. The hardware segment is expected to grow with the highest CAGR during the forecasted period. The hardware segment is consisting of LED arrays, sensors, a communication module, and others. And service segment is categorized into professional services and managed services.

Smart/Connected Street Lights Market, By Application

• Infrastructure
• Shopping Plaza
• Industrial Area
• Public Road
• Others

Based on Application, the market is segmented into Infrastructure, Shopping Plaza, Industrial Area, Public Road, and Others. The infrastructure segment is expected to grow at the fastest pace due to initiatives taken by the government to develop smart cities and rapidly growing urbanization. Additionally, the growing adoption of Platform-as-a-Service solutions in street lights is fueling the growth of the segment.

Smart/Connected Street Lights Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the world
• On the basis of Geography, The Global Smart/Connected Street Lights Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. North America is accounted for holding the largest share in the market due to government initiatives taken for the adoption of connected street lights and the growing adoption of Li-Fi networked communication technology across the region. Also, a growing number of cities across the United States and Canada have created the need for streetlights across the region.

Key Players

• The "Global Smart/Connected Street Lights Market" study report will provide valuable insight with an emphasis on the global market. The major players in the market are
• Echelon Corporation, Silver Spring, Philips Lighting, Bridgelux, OSRAM, GE Lighting, TVILIGHT, TCOMM, Petra Systems, STREETLIGHT.VISION, Cyan Technology, SHAH, Telematics, ONTAZ, SELC, and Flashnet.
• The competitive landscape section also includes the above-mentioned players' key development strategies, market share, and market ranking analysis.

Key Developments

• Partnerships, Collaborations and Agreements
• On June 2019, Itron Inc announced that the company is working with VINCI Energies and Transport Canberra and city services to create an Industrial Internet of Things Network.
• On April 2019, it was announced that Samsung SDS and Telensa are collaborating on smart cities initiatives together.
• Mergers and Acquisitions
• In September 2018, Adesto(R) Technologies a leading provider of innovative application-specific semiconductors and systems for the IoT era announced the successful completion of its previously announced acquisition of Echelon Corporation. Echelon(R) is a pioneer in the development of open-standard networking platforms for connecting, monitoring, and controlling devices in commercial and industrial applications.
• On January 2018, Itron, Inc. a world-leading technology and services company dedicated to the resourceful use of energy and water, announced that it has completed its acquisition of Silver Spring Networks, Inc.
• Product Launches and Product Expansions
• In February 2017, Citelum S.A. launched its new street lighting laboratory at the EDF Lab Les Renardieres site to test the effectiveness of new technologies; evaluate their effect on electric networks; and find and develop new solutions for smart, economical, and eco-friendly lighting.