Market Overview:

Smart Connected Street Lights Market Was Valued At USD 2.42 Billion In 2022 And Is Expected To Reach USD 7.19 Billion By 2030, Growing At A CAGR Of 19.20% During The Forecast Period Of 2022-2030.

Smart street lighting is a modern way to light the streets. It uses new technologies to provide better lighting in a way that is more efficient, saves money, and is better for the environment. Smart street lighting systems handle and control street lights by using a network of sensors, wireless communication, and data analytics.

Street lights are the most expensive and important piece of infrastructure that cities and companies have to pay for and maintain. The smart/connected street light market is growing because more and more infrastructure is being built, especially in emerging countries like India and Japan. The market for smart, connected street lights is growing because of these government plans to make the country smarter. Also, LEDs were made to save money on energy costs. Because of these reasons, many towns have switched to lighting systems that use less energy. This is another thing that helps the market for smart or connected street lights grow.

Also, governments all over the world are under pressure from the people and the government to find more efficient and cost-effective ways to use energy. Internet of Things Street lighting can provide all of these benefits right away. So, the market for smart/connected streetlights is growing faster because more people want smart lighting. Smart streetlights will also make people's lives better, save money on energy and running costs, and bring in more money for the city. All of these benefits are making the market for smart or connected street lights grow.

On the other hand, the rise of the smart/connected street light market is likely to be slowed by the lack of support for infrastructure development in some areas, such as developing countries. The smart/connected street light business is also not growing as fast as it could because smart lighting costs a lot. Still, growing infrastructure in developing countries and government efforts to lower energy costs are likely to give the smart/connected street lighting market a lot of chances in the future.

People in a smart city can change the brightness of the street lights based on their mood, how much sunshine there is, how many people are in the area, and their own physical presence. Modern LED Street lights can be connected to a smart remote management system that lets people change how the lights work in different scenarios. You can change how bright the light is depending on the season and the weather on a given day.

Market Dynamics:

Trends:

Increasing the number of 5G-enabled smart street lights will help the market grow in a big way: As mobile operators improve their radio access networks to get the most out of 5G, smart street light infrastructure is expected to play a big role in making this possible, as well as offering other smart city/Internet of Things (IoT) features. For example, in July 2021, Telefónica Deutschland and Main ova, a company that provides energy services, worked together to put a 5G-based streetlight in Frankfurt am Main. It always gives off light when it's dark and 5G signs when it's daytime. It does this by using LED technology that works very well.

The energy efficiency of smart street lighting is increasing the demand for smart street lighting in the U.S: People in the United States of America are likely to buy more smart street lighting systems because they use less energy. Smart street lighting systems use LED lights and modern control systems to save energy and make the lighting better. This can save a lot of money for cities and towns.

Drivers:

Energy optimisation is becoming more important to help the market grow: Smart Street lighting uses smart maintenance plans to report and keep an eye on lights that aren't working right. This helps keep upkeep and repair costs down. A linked street lighting system saves 25% of energy on average because the connected LED lights can be dimmed, turned on or off remotely, and use less power. This means that energy can be controlled better and used more efficiently.

LED adoption increasing, smart city projects drive market growth, focus on sustainability: More and more of your target customers are using light-emitting diodes (LEDs), which makes street lighting systems reach a lot further. As part of smart city projects, businesses will soon use a lot of connected street lights. This will be a big growth driver for the market. Also, utility companies and government agencies are using smart lighting devices to save money and cut carbon emissions through 2023.

Demand for solutions that use less energy will drive market growth: People are becoming more aware of the need to save energy, so IoT outdoor lighting is becoming more common.  As the price of electricity keeps going up, more and more government agencies are moving to connected (smart) street lights to save money and improve safety and efficiency.

Restrains:

Infrastructure, internet access challenges hinder smart street light market growth: But people in charge of the smart street light market think that it will have a lot of troubles between 2017 and 2023. The network systems in developing countries and businesses aren't very well developed, and not many people use the internet there. This also makes it hard to get enough internet, which will cause more problems in a market that is expected to keep growing until 2023.

Cybersecurity worries will keep people from wanting smart street lights: As Wi-Fi, Li-Fi, and sensors are used more and more in connected lighting systems, security and privacy concerns are also rising. Cyberattacks could do a lot of damage, like shutting down or giving away important services like water or power. Cyberattacks could also lead to people's private information or videos of them doing bad things being stolen and used in bad ways. In some cases, ransomware attacks have stopped city workers from using public networks and computers until they paid a large amount of money. 

Developing countries have bidden the framework: In the coming years, the market for connected street lights is likely to slow down because of bad infrastructure in developing countries. This is because network infrastructure isn't very well developed and not many people use the internet, so there's less info available. Traditional lamps are still used in most poor countries. So, moving to connected (smart) street lights won't save money because it's expensive to buy new ones and fix up old ones. Cost is expected to have a big effect on the connected (smart) street lighting market's short-term growth and a smaller effect on its long-term growth. This is mostly because the government is spending a lot more money to make towns better places to live.

Opportunities:

More energy-efficient lighting systems are being put in place: More and more cities around the world are installing connected street lights that use Li-Fi and other WIFI technologies. Industry companies are putting these kinds of technologies into their systems because they can send info quickly and effectively. Integration of street lighting systems with traffic signals, parking lot lights, pollution sensors, energy meters, and traffic sensors is providing big opportunities for market growth, especially in emerging countries.

In smart cities, there is a lot of business lighting and a lot of connected street light technology: Because of the lighting in businesses and the large number of connected street lights in smart cities, smart street lighting systems are becoming more common and are being used in more places. People want lighting that is both efficient and good for the environment in places like offices, shops, and factories. LED technology, which is known for being energy efficient and lasting a long time, is being used in more and more of these sets’ ups. This is good for the market as a whole.

Challenges:

Poor infrastructure in developing countries because the network infrastructure isn't well developed and there aren't many people online: In emerging countries, "poor infrastructure" refers to the lack of well-developed network systems and low Internet use. Because of these issues, it's harder to build the infrastructure that smart street lighting systems need. In these places, there isn't enough network equipment, so not many people have access to the internet. This limited connectivity and access to the internet makes it harder for smart street light systems to be used and grow. This makes it harder for the market to grow in these places.

NB-IoT is the market leader in wireless connectivity: Narrow-Band IoT (NB-IoT) technology was used to make smart street lights that connect devices more quickly and efficiently over current mobile networks and handle two-way communication in a safe and reliable way. Some of the things that can be controlled or handled are turning the lights on and off, changing the brightness, setting routines, getting information about how the system works, measuring how much electricity is used, and gathering information about how to save energy. Because of these benefits, it is expected that the market for NB-IoT wireless connection will grow a lot over the next few years.

Major Market Segments Covered:

By Type:

• Hardware
• Software
• Services
• Other

The market is split into Hardware, Software, and Services based on what it sells. During the predicted time period, the hardware segment is projected to grow at the fastest rate. Hardware includes LED arrays, sensors, a transmission module, and other parts. And the professional services and managed services make up the business segment.

By Application:

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

The market is split into Infrastructure, Shopping Plaza, Industrial Area, Public Road, and Others based on how it will be used. Infrastructure is expected to grow the fastest because the government is working to make cities smarter and more people are moving to cities quickly. The growth of the segment is also helped by the rising use of Platform-as-a-Service solutions in street lights.

Regional Insights:

During the time of the forecast, North America is expected to have the highest CAGR. This is because there are so many government programs that focus on putting up smart lights. Estimates also show that the costs of running lights in business buildings in North America are pretty high, which makes smart lighting a good and affordable option. North America is one of the best places for the lighting industry to sell smart lighting products because of this. North America is thought to have the biggest share of the market because of government programs to connect street lights and the growing use of Li-Fi connectivity technology in the area.

Also, as the number of places in the US and Canada has grown, so has the need for lamps. More money is being spent on wireless technologies to help smart parking and other urban solutions move forward, which is causing the growth. One of the most important market trends that affects growth is the rise of smart towns. As smart cities pop up all over the world, the need for smart, connected goods has grown. Building a network of smart street lights on a platform that can be expanded makes traffic better and cuts down on accidents. Some of the biggest companies on the market are working with local governments to make towns better.

People think that Europe is a big part of why the market for connected (smart) street lights is growing so quickly around the world. The UK, Germany, Norway, and France are some of the countries with the most connected (smart) street lights. The market is growing fast because more and more electric cars have lights that are linked to the internet. This is expected to make more people want street lights in the next few years.

in Asia-Pacific is mostly being driven by growing technological breakthroughs and more government efforts to make cities smarter. Stringent regulations that discourage the use of incandescent lamps and different policies that encourage energy conservation and environmental protection, as well as the need for energy-efficient connected lighting controls and ongoing and upcoming smart city projects in developing economies, will all increase the market value. So, businesses growing desire for automatic and connected street lighting systems is likely to speed up market growth even more.

Scope of Report:

Key Players:

• Cisco Systems Inc.

• Citelum

• Dimonoff Inc.

• Echelon

• EnGo Planet

• General Electric Company

• Philips Lighting (Signify Holding)

• LED Roadway Lighting Ltd.

• LonMark International

Cisco Systems Inc: Cisco (NASDAQ: CSCO) helps people make strong links in business, education, philanthropy, and creativity. Cisco's gear, software, and services are used to make the Internet solutions that make networks possible and make it easy to get information from anywhere, at any time. The company's core development areas of routing and switching, as well as in advanced technologies like home networking, IP telephony, optical networking, security, storage area networking, and wireless technology. Cisco also offers a wide range of services, such as technical help and more advanced services, in addition to its products.

Dimonoff Inc: Dimonoff has been giving smart IoT solutions and custom engineering services since 2006. They are known as the leader in methods for controlling the lights in smart cities. They are also experts in parking management systems and online control and management of connected assets. Dimonoff has finished and sold more than 700,000 goods and more than 470 projects in 11 countries.

Echelon: Through an intelligent, networked infrastructure, Echelon's proven, scalable solutions host a wide range of applications that help users save money on energy and operations, improve safety and comfort, and create efficiencies. Today, Echelon is focused on two IoT (Internet of Things) market areas: creating smart cities and smart businesses through connected outdoor lighting systems and helping device makers bring connected products to market faster through a range of IoT-optimized embedded systems.

LED Roadway Lighting Ltd: This clean technology company owned and run by Canadians that designs and makes LED streetlights and control systems that use less energy. Their goal is to make a good change in the environment by making products that will work in the future and technological solutions that will last. Their LED lights are made so that our customers can save money on upkeep costs, save money on energy costs over time, and get their money back quickly. Their environmentally friendly luminaires make things safer and brighter while using less energy and putting out less carbon.

LonMark International: Lexmark makes imaging and Internet of Things (IoT) technologies that work with the cloud and help customers around the world get business results fast. Lexmark speeds up business transformation by using a powerful mix of proven technologies and deep industry knowledge to turn information into insights, data into choices, and analytics into actions.

Strategic Development:

• In 2019: Philips Lighting released a new wireless lighting system that is linked to the internet.

• In July 2021: Itron, Inc. said that Grid4C's Grid Edge AI application is part of its growing ecosystem of distributed intelligence (DI) apps. Grid4C's Grid Edge AI app has been successfully put in Itron's Raleigh DI Lab.

• In 2022: Telensa Holdings Ltd., a U.K. company that specialises in wireless monitoring and control systems for smart cities, launched its new "hybrid" network design to support its connected street light solutions. The business added cellular connectivity to its UNB radio technology network to give customers a solution that can be used in many different ways and is supported by a single management system and user interface.

Market Segmentation:

By Type:

• Hardware
• Software
• Services
• Other

By Application:

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

Smart Connected Street Lights Regional Insights:

• 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

Conclusion:

In the Smart Connected Street Lights business, there has been a lot of progress and improvement over the past few years. Internet-connected smart street lights can save energy and money, make streets safer, and make it easy to fix them. Internet of Things (IoT), cloud software, and wireless connections have made it possible for street lighting systems to be better and work more efficiently. This means that smart street lighting is being used in more and more places. The need for smart, connected street lights has grown along with the interest in smart city projects and environmental goals. In conclusion, the market for smart, connected street lights is predicted to grow a lot over the next few years. People want lights that use less energy, and the growth of smart cities is getting more attention. This means that smart street lights that are connected will still be used. As technology keeps getting better and prices go down, more places and towns are likely to use these smart lighting systems, which will lead to more market growth.