The global Smart public lighting market size was estimated at USD 15.6 billion in 2023 and is projected to reach USD 55.8 billion in 2030 at a CAGR of 19.9% during the forecast period 2023-2030.
The target demographic, refers to the group of people who are the intended users of the product, is also contributing to the growth of the market by increasing their usage of light-emitting diodes (LEDs). This increase in LED usage is leading to the development of a massive public lighting system, which is further driving the growth of the smart public lights market. Business setups that extensively use linked public light equipment as part of smart city initiatives are expected to become important market growth drivers in the near future. Energy businesses and governmental organizations are also adopting smart lighting technological advances to save money and reduce greenhouse gas emissions over the projected period.
Remote lighting control refers to the ability to control public lights from a central location, without the need for physical access to each individual light. This is made possible through the use of smart poles, which are equipped with sensors and communication technology. The use of remote lighting control allows for more accurate adjustment of the amount of time the lights are turned on and to what extent. This means that the lights can be dimmed or brightened as needed, depending on factors such as the time of day or the level of pedestrian or vehicular traffic. In addition to allowing for more precise control of the lights, remote lighting control also enables monitoring of the lights' behavior. This means that data can be transmitted through connected systems to report irregular lamp behavior and individual lamp failure.
The pandemic has caused significant obstacles for businesses, including a drop in demand for analog chips, which has affected the Smart Public Lights Market. However, the pandemic has also created opportunities for market companies to develop new and innovative solutions to improve product efficiency and meet demand. Leading market participants are taking steps to address these challenges and capitalize on the opportunities presented by the pandemic. Governments and public bodies are increasingly turning to intelligent public lighting to meet energy needs, which presents a significant opportunity for the Smart Public Lights Market to grow in size.
Connected public lights are becoming more common in cities worldwide. These public lights are equipped with wireless technologies such as Li-Fi, which allows for high-speed data transfer and efficiency. Vendors in the industry are incorporating these technologies into their systems to improve their performance and capabilities. The integration of public lighting systems with other technologies such as traffic signals, parking-lot lights, pollution sensors, energy meters, and traffic sensors is creating significant opportunities for market growth. This is especially true in emerging economies, where the need for efficient and sustainable infrastructure is high. By integrating these technologies, cities can improve their overall infrastructure and provide better services to their citizens. For example, the integration of public lighting systems with traffic sensors can help reduce traffic congestion and improve safety on the roads. Similarly, the integration of pollution sensors can help cities monitor and reduce their environmental impact.
North America to Dominate the Market