The Smart Street Lighting Global Market Report 2023, provides comprehensive information on the smart street lighting market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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The global smart street lighting market size is expected to grow from $1.77 billion in 2022 to $2.12 billion in 2023 at a compound annual growth rate (CAGR) of 19.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global smart street lighting market size is expected to reach $4.35 billion in 2027 at a CAGR of 19.8%.
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Product innovations are a key trend gaining popularity in the smart street lighting market. Major companies operating in the smart street lighting market are developing innovative products to strengthen their position in the market. For instance, in April 2021, LEDVANCE, a US-based company operating in solar lighting systems, introduced OSRAM NAV LED, a street lighting lamp as an alternative to LED to reduce running costs. The OSRAM NAV LED is capable of consuming around 52% less energy than conventional high-pressure sodium vapor lamps with a lifetime of up to 50,000 hours and provides fewer maintenance costs. Moreover, it is easy to replace due to compatibility with conventional control gear (CCG), compensation capacitor and ignitor without rewiring. It allows additional dimming at low traffic density using night-time switching and offers a very high efficiency of up to 185 lm/W.
The smart street lighting market is segmented:
1) By Type: Light Emitting Diode, Compact fluorescent lamps, Incandescent, Other Types
2) By Communication Technology: NB-IOT, Powerline Communication, Radio Frequency, Other Communication Technologies
3) By Energy Source: Traditional And Other Renewable Energy, Solar
4) By Application: Environment Monitoring, Traffic Optimization, Smart Parking, Other Applications
5) By End User: Commercial, Residential, Industrial
North America was the largest region in the smart street lighting market in 2022.
The table of contents in TBRC’s smart street lighting market report includes:
- Executive Summary
- Smart Street Lighting Market Characteristics
- Smart Street Lighting Market Trends And Strategies
- Smart Street Lighting Market – Macro Economic Scenario
- Smart Street Lighting Market Size And Growth
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- Africa Smart Street Lighting Market
- Smart Street Lighting Market Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions In The Smart Street Lighting Market
- Smart Street Lighting Market Future Outlook and Potential Analysis
- Appendix
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