The Smart Street Lights Market is expected to grow at a 23.4% CAGR and help the market reach a final valuation of 14,751.1 Million by the end of the forecast period in 2030.

Smart Connected Street Lights Market Overview:

Street lights are the most expensive and critical infrastructure asset carried by municipalities and utilities. Growing infrastructure development, particularly in developing countries such as India and Japan, is a major factor driving the growth of the smart/connected street light market. These government initiatives for smart country development are fueling the growth of the smart/connected street lighting market. In addition, LEDs were introduced to reduce energy costs. These factors have therefore led many cities to switch to energy efficient lighting solutions. This is another factor fueling the growth of the smart/connected street light market.

Additionally, governments around the world are facing public and regulatory pressure to adopt more efficient and cost-effective energy solutions, and street lighting with the Internet of Things can deliver all these benefits right away. Therefore, the demand for smart streetlights is accelerating the growth of the smart/connected streetlights market. In addition, smart streetlights will improve citizens' quality of life and minimize energy and operating costs, adding more revenue to city revenues. All these advantages are fueling the growth of the smart/connected street light market.

Conversely, lack of support for infrastructure development in some regions, such as developing countries, is expected to limit the growth of the smart/connected street light market. In addition, high investment in smart lighting is hindering the growth of the smart/connected street light market. Nonetheless, growing infrastructure developments in emerging countries and government initiatives to reduce energy costs are expected to provide lucrative opportunities for the smart/connected street lighting market in the future.

Smart Connected Street Lights Market size, estimates and forecasts are provided in terms of sales volume (K units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Smart Connected Street Lights Market in detail. Regional market sizes related to products by type, by application, and by player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and the Russian-Ukraine war.

Key Market Updates:

• Philips Lighting will help the Dutch island of Ameland secure energy-efficient LED street lights. Philips ClearSky is a light spectrum specifically designed to reduce the damage and harshness faced by migratory birds. Additionally, the availability of fresh and robust infrastructure will help achieve sustainable targets that will help save energy and reduce pollution levels over the forecast period 2017-2023.
• Itron Inc. announces collaboration with VINCI Energies' Electrix and Transport Canberra and City Services. This will help create Internet of Things networks for industry and will help support this technology and the idea of ​​developing smart cities and energy solutions in Australia's capital, Canberra. It is said to be Australia's largest stand-alone lighting project. This idea was presented in April 2019.
• In the same year, a collaboration between Samsung SDS and Telensa was announced to develop a smart city initiative. The two companies are working as a team to develop intelligent streetlights.

Major Market Segments Covered in Smart Connected Street Lights Market Industry Research:

Market Key Players:
Cisco Systems, Inc., Citelum, DimOnoff Inc., Echelon, EnGo Planet, General Electric Company, Philips Lighting (Signify Holding), LED Roadway Lighting Ltd., LonMark International, And Others.

By Type:

• Hardware
• Software
• Services
• Other

By Application:

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

By Region:

The United States is the biggest market in North America for smart connected street lights. The region is growing because more people want energy-efficient lighting, the government is trying to cut down on carbon pollution, and smart city technologies are being used.
Europe is a big market for smart street lights that are connected to the internet. The UK, Germany, and France are the biggest markets in the area. Government programs to cut down on energy use, make energy use more efficient, and cut down on carbon emissions are driving growth in the area. The rise is also helped by the use of smart city technologies and the presence of several key players in the area.
Asia-Pacific is a big market for smart street lights that are linked to the internet. China, Japan, and India are the biggest markets in the area. Rapid urbanization, government programs to make energy use more efficient, and the use of "smart city" technologies are all factors in the region's progress. Along with a growing population and more people living in cities, the demand for energy-efficient lighting is projected to drive growth in the region.
The Middle East and Africa are two places where smart street lights are becoming more popular. Government programs to update facilities and make energy use more efficient are driving growth in the area. The region is projected to grow because smart city technologies are becoming more popular and more people want energy-efficient lighting solutions.

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• France
• Italy
• Spain
• UK
• Nordic Countries
• Denmark
• Finland
• Iceland
• Sweden
• Norway
• Benelux Union
• Belgium
• The Netherlands
• Luxembourg
• Rest of Europe
• Asia-Pacific
• Japan
• China
• India
• Australia
• South Korea
• Southeast Asia
• Indonesia
• Thailand
• Malaysia
• Singapore
• Rest of Southeast Asia
• Rest of Asia-Pacific
• The Middle East & Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of the Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America

Significant Market Dynamics:

Drivers

Target customers are increasing the adoption of light emitting diodes (LEDs), which is increasing the distances of street lighting systems by a tremendous amount. Commercial settings underpinning high penetration of connected street light technology as part of smart city projects will soon serve as a major driver for market growth. Additionally, utility companies and government agencies are embracing the use of smart lighting technologies to help save and reduce carbon emissions over the forecast period ending in 2023. Additionally, prominent market players are catering to the growing demand during the forecast period. Adopting green strategies and supporting the global goal of adopting and achieving sustainable development over the forecast period 2017-2023.

Restraints

However, smart street light market leaders foresee various challenges for the market over the forecast period of 2017-2023. Developing countries and economies have poor infrastructure as a result of underdeveloped network structures along with low internet penetration rates. This also leads to low bandwidth availability, bringing additional new challenges to the growing market over the forecast period ending in 2023.

Smart Connected Street Lights Market report scope:

Crucial Points from this Smart Connected Street Lights Market Report

• Estimate Smart Connected Street Lights Market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, applications and by different industry verticals.
• Understand the supply chain in depth on the value growth at each step, in order to optimize value and bring effectiveness in your processes.
• Know the different dynamics affecting the market - challenges, key driving factors and opportunities.
• Get a quick viewpoint on the Smart Connected Street Lights Market entropy - M&A's, deals, partnerships, product launches of all key companies for the historical 5 years.
• Estimate the supply-demand gaps, import-export data and regulatory landscape for more than top 20 countries worldwide for the market.
• Get complete insights on your competitor performance - market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
• Study the sales and distribution channels over key geographies to improve top-line revenues.

Frequently Asked Questions-

1. What is the CAGR of Smart Connected Street Lights Market?
2. What are the key types of Smart Connected Street Lights Market?
3. What are the key applications of Smart Connected Street Lights Market?
4. Who are the key players in Smart Connected Street Lights Market?