Smart Street Lights Market value reached over USD 1.35 Billion in 2022 and is expected to exhibit at more than 25.5% CAGR through 2023 - 2032. By the end of the forecast period, the market revenue is anticipated to surpass USD 12.3 Billion.
A smart street light is a type of intelligent outdoor lighting system that utilizes advanced sensors, wireless connectivity, and automation to provide energy-efficient lighting solutions and smart city services. These lighting systems use LED technology and can be equipped with various sensors and devices, such as motion sensors, temperature sensors, cameras, and environmental sensors, to gather data and provide real-time information.
Smart technology is used to create a more sustainable and efficient lighting system that can be remotely controlled and managed. These lighting systems can automatically adjust the brightness based on real-time traffic conditions and pedestrian activity, reducing energy consumption and lowering costs. They can also be programmed to provide emergency lighting during power outages and to alert authorities in case of accidents or other emergencies. In addition to energy-efficient lighting, smart street lights can also provide a range of smart city services, such as public Wi-Fi, air quality monitoring, and traffic monitoring. These systems can be integrated with other smart city technologies, such as smart parking systems, to create a more efficient and connected urban environment.
The smart street light market is projected to witness significant growth in the upcoming years due to the increasing demand for energy-efficient and sustainable lighting solutions. Furthermore, increasing demand for smart city services is projected to driving the market growth over the forecast period. Smart street lights can provide a range of smart city services, such as public Wi-Fi, air quality monitoring, and traffic monitoring. As more cities look to become smarter and more connected, the demand for smart street lights is expected to increase.
Covid-19 Pandemic Impact on Smart Street Lights Market
The COVID-19 pandemic has had a significant impact on the street light industry, which is responsible for manufacturing and installing lighting systems for roads, highways, and other public areas. The pandemic has disrupted the industry in multiple ways, from supply chain disruptions to changes in demand. With the outbreak of COVID-19, countries around the world implemented restrictions on movement, causing a slowdown in the production and delivery of goods.
The street light industry relies on a global supply chain for materials and components, and the disruptions caused by the pandemic have led to delays and increased costs. This has made it more challenging for companies to deliver their products and services to customers in a timely manner. Furthermore, with lockdowns and restrictions on movement, many construction projects have been put on hold or delayed, including projects that involve the installation of new street lighting systems. This has resulted in a decrease in demand for street lighting products and services, causing a decline in revenue for companies in the industry.
Despite these challenges, the street light industry has also experienced some positive impacts from the pandemic. As governments around the world have implemented measures to prevent the spread of COVID-19, there has been a renewed focus on the importance of public health and safety. This has led to an increased interest in street lighting systems that can help to improve safety and security in public spaces.
Drivers: Smart city initiatives
As more cities adopt smart city initiatives, the demand for smart street lights is projected to increase over the forecast period, as they play an important role in building intelligent and connected urban environments. Smart streetlights are an integral part of the smart city infrastructure, enabling cities to improve the quality of life for residents, enhance sustainability, and drive economic growth.
Furthermore, some of the developing economies are also contributing to the smart city project and contributing to market growth, such as the Government of India, which launched the 100 Smart Cities Mission. The Smart Cities Mission is a program led by the government aimed at revitalizing and retrofitting urban areas with the goal of creating sustainable and citizen-friendly smart cities. The Union Ministry of Urban Development is in charge of carrying out the mission, which is expected to be completed between 2019 and 2023 in collaboration with state governments.
In addition, smart streetlights can also help cities save energy and reduce costs by automatically adjusting their brightness based on the time of day and the presence of people or vehicles. This technology can also be integrated with other smart city systems, such as traffic management and public safety, to create a more efficient and interconnected urban environment.
The smart street lights market in North America is one of the largest and fastest-growing markets in the world. The region is home to many advanced economies, and the governments in these economies are investing heavily in the development of smart city infrastructure, including smart street lighting systems.
Furthermore, smart street lights market in North America is the growing need for better and more efficient urban infrastructure. With the increasing urbanization of the region, cities are facing a range of challenges, from traffic congestion to crime and pollution. The adoption of smart city initiatives is also driving the growth of the smart street lights market. Many cities in the region are investing in smart city infrastructure, including smart lighting systems, as part of their efforts to improve the quality of life for residents, enhance sustainability, and drive economic growth.
- In October 2022, Telensa Holdings Ltd, which is based in the United Kingdom, has recently introduced its connected street light solutions. The company specializes in providing wireless monitoring and management systems for smart cities and is known for its innovative "hybrid" network architecture. The company added cellular connectivity to its UNB radio technology network to provide customers with a highly adaptable solution supported by a single management system and user interface.
- In February 2022, Ameresco, Inc. has completed its comprehensive Chicago Smart Lighting Program (CSLP) with the City of Chicago to modernize existing street lighting infrastructure. The project, which connects approximately 280,000 street light fixtures across Chicago, is thought to be the largest city-led wireless smart street light programs in the United States.
Top companies includes in the global smart street lights market -
- Advanced Micro Devices, Inc.
- GMR Enlights s.r.l.
- Delta Electronics, Inc.
- Dimonoff Inc.
- Telensa Holdings Ltd.
- EYE Lighting International
- Fagerhults Belysning AB
- Flashnet S.A. (InteliLIGHT)
- GE Current (Current Lighting Solutions, LLC)
- Intermatic Incorporated
In-depth analysis of smart street lights market along with industry coverage and forecasting for the following segments:
Market Value Insights, By Offering
- Light Sources
- Lighting Controllers
- Sensors and Detectors
- Power Drivers
- Communication Modules
Market Value Insights, By Connectivity
Market Value Insights, By End-use Industry
Market Value Insights, By Region
- North America
- Asia Pacific
- Middle East and Africa
- Latin America