Connected (Smart) Street Lights Market Size, Share, Trends, Growth and Forecast 2032

Connected (Smart) Street Lights Market Insights

According to a report from Zion Market Research, the global Connected (Smart) Street Lights Market was valued at USD 1.58 Billion in 2023 and is projected to hit USD 13.96 Billion by 2032, with a compound annual growth rate (CAGR) of 24.3% during the forecast period 2024-2032. This report explores market strengths, weakness, opportunities, and threats. It also provides valuable insights into the market's growth drivers, challenges, and the future prospects that may emerge in the Connected (Smart) Street Lights Market industry over the next decade.

The report offers valuation and analysis of the Connected (Smart) Street Lights market on a global as well as regional level. The study offers a comprehensive assessment of the industry competition, restraints, revenue estimates, avenues, current & emerging trends, and industry-validated market information. The report offers historical data from 2018 to 2023 along with a forecast from 2024 to 2032 based on value (USD Million).

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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 Lightning 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.

Connected (Smart) Street Lights Industry Synopsis

Smart street lights have brought a paradigm shift in the power industry. With smart city concept becoming the buzzword, connected (smart) street light market is anticipated to gain traction over the forecast timeline. Secured and resilient communication tools are few of the major elements facilitating the launching of next-gen technologies based on the condition that processing of data, data telemetry, data usage, and data acquisition are key to the delivery of proficient operations and customer-focused solutions. Connected (Smart) Street Lights are the products that fit in the role.

Connected (Smart) Street Lights Industry: Growth Drivers

Escalating demand for connecting street light infrastructure with IoT is likely to generate massive product demand over the forecast timeline. In many of the developed countries, smart street light systems are integrated with electric vehicle charging stations, traffic management systems, public safety video monitoring systems, and broadband connection. This, in turn, will steer the expansion of connected (smart) street lights industry over the ensuing years. Apparently, smart street lighting is projected to prove as a key for smart city construction in the coming decade. It has been projected that smart street lights will help in providing continuous electricity and will ensure the security of the cities as it will be embedded with security cameras, traffic counters, electric vehicle chargers, and environmental sensors. All these factors will accelerate the expansion of connected (smart) street lights industry over the ensuing years.

Furthermore, large-scale urbanization is also projected to contribute majorly towards connected (smart) street lights industry size over the forecast timeline. Massive focus of the government to improve the quality of life of its citizens will translate into humungous market demand over the forecast timespan. Apparently, other benefits offered by connected (smart) street lights include charging of electric vehicles, digital signage communication, smart parking, and environmental monitoring. With massive returns and advantages offered by smart street lights, the market for connected (smart) street lights is anticipated to gain traction over the assessment period.

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.

Europe To Make Notable Contributions Toward Overall Market Earnings By 2032

The expansion of the connected (smart) street lights industry in Europe over the forecast timespan is ascribed to the massive acceptance of smart lights in electric cars across the countries such as France, UK, Norway, and Germany. In addition to this, in February 2019, EU accepted guidance on the deployment of roadway lights. For the record, in August 2019, the EU allocated euros worth 82 million to develop twenty smart city ventures. All these aspects are predicted to embellish the expansion of the connected (smart) street lights industry in Europe over the ensuing years.       

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Connected (Smart) Street Lights Market: Report Scope

Competitive Landscape

Key participants profiled in the study include-

• Toshiba Corporation
• Citelum S.A.
• Tvilight
• Cisco Systems, Inc.
• OSRAM Licht Group
• Echelon Corporation
• Telensa Ltd.
• DimOnoff Inc.
• LED Roadway Lighting Ltd.
• Flashnet SRL
• LonMark International
• EnGo Planet
• Philips Lighting N.V.
• General Electric Co.
• Silver Spring Networks Inc.
• Transdata Inc.

The global connected (smart) streetlights market is segmented as follows:

By component:

• Hardware
  • Light Source
    • LED lamps
    • Sodium vapor lamps
    • Others
  • Drivers & Ballast
  • Sensors
  • Switches
  • Controllers
  • Others
• Software
• Services

By networking technology:

• Narrowband
• Medium band
• Broadband

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa