Offering reliable and timely data, this report is a key resource for anyone building or refining their led street light industry roadmap.
What Is The Expected CAGR For The LED Street Light Market Through 2025?
The led street light market size has grown exponentially in recent years. It will grow from $14.31 billion in 2024 to $17.28 billion in 2025 at a compound annual growth rate (CAGR) of 20.7%. The growth in the historic period can be attributed to energy efficiency initiatives, government regulations and policies, cost savings, urbanization trends, environmental sustainability.
The led street light market size is expected to see exponential growth in the next few years. It will grow to $36.31 billion in 2029 at a compound annual growth rate (CAGR) of 20.4%. The growth in the forecast period can be attributed to smart city initiatives, renewable energy integration, public safety and security, urban infrastructure development, cost-effective upgrades. Major trends in the forecast period include implementation of connected street lighting networks, focus on environmentally friendly materials, use of long-lasting and low-maintenance components, government initiatives for led street lighting, customized lighting solutions for smart cities.
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Which Key Factors Will Influence LED Street Light Market Growth Over 2025-2034?
The development of smart cities around the globe is driving the LED street light market going forward. Smart cities refer to an administrative territory that uses information and communication technology (ICT) to improve its operational efficiency and provide better infrastructural facilities to its residents. Elegantly designed LED streetlights reduce city energy usage and improve public safety. It focuses on the energy efficiency created in smart cities because of the use of technologies for information and communication (ICT), such as the Internet of Things (IoT). For instance, in April 2023, according to the data published by the World Bank, a US-based international financial institution, around 4.4 billion people, or 56% of the world's population, presently reside in cities. By 2050, approximately 7 out of 10 people will live in cities, with the urban population predicted to more than double from its current level. Therefore, the development of smart cities around the globe is driving the demand for the LED street light market.
Comprehensive Segment-Wise Insights Into The LED Street Light Market
The led street light market covered in this report is segmented –
1) By Connectivity: Wired, Wireless
2) By Sales Channels: Direct, Indirect
3) By Applications: Retrofit, Retail And Hospitality, Outdoor, Offices, Architectural, Residential, Industrial, Other Applications
Subsegments:
1) By Wired: Direct Wired Connections, Power Line Communication (PLC) Systems, Integrated Control Systems
2) By Wireless: Wi-Fi Enabled Street Lights, Zigbee-Based Connectivity, Cellular (4G Or 5G) Connected Street Lights, LoRaWAN (Long Range Wide Area Network) Systems, Satellite-Based Communication Systems
What Are The Prominent Trends In The LED Street Light Market?
Technological advancements have emerged as the key trend gaining popularity in the LED street light market. Major companies operating in the LED street light market are developing technologically advanced solutions to strengthen their position in the market. For instance, in August 2023, Goldmedal Electricals Pvt. Ltd., an India-based company specializing in electrical accessories launched torus LED streetlight. This innovative invention aims to revolutionize outdoor lighting by utilizing the newest LED technology and providing strong illumination in a stylish design. The launch of Gold medal Electricals' torus LED streetlight is a testament to their dedication to offering creative and affordable lighting options for both outdoor and urban settings. The torus LED streetlight is protected from severe weather thanks to its remarkable IP66 rating. High-quality lenses are included with the street light to provide bright, clear illumination.
Analysis Of Key Players In LED Street Light Market
Major companies operating in the led street light market include Samsung Electronics Co Ltd., Revolution Lighting Technologies Inc., Panasonic Corporation, Eaton Corporation plc, Wipro Limited, Signify N.V., NIPSCO Inc., Hubbell Inc., Leotek Electronics LLC, Acuity Brands Inc., OSRAM GmbH, Havells India Limited, Zumtobel Group, Syska LED Street Light, Cree Inc., TATA Power Solar Systems Ltd., Crompton Greaves Consumer Electricals Limited, Bajaj Electricals Limited, LSI Industries Inc., PEMCO Lighting Products LLC, XtraLight LED Lighting Solutions, Daintree Company, Niland Company, Nichia Corporation, Pkk Lighting Inc., SAVANT TECHNOLOGIES LLC, Ultravision LED Solutions, Jackson International Ltd., Optolumens Light Solution, Brandon Industries Inc.
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What Are The Key Regional Trends In The LED Street Light Market?
Asia-Pacific was the largest region in the LED street light market in 2024. The regions covered in the led street light market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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