Street And Roadway Lighting Market was valued at USD XX Billion in 2022 and is projected to reach USD XX Billion by 2030, growing at a CAGR of XX% from 2024 to 2031.
Street And Roadway Lighting Market Future Scope
The global Street and Roadway Lighting Market was valued at approximately USD 8.2 billion in 2022, and it is projected to grow at a compound annual growth rate (CAGR) of around 6.3% from 2023 to 2030. The increasing demand for energy-efficient lighting solutions, along with the rising emphasis on smart city initiatives, is contributing to this growth. Technological advancements, such as the integration of LED lights and smart sensors, have become key drivers of the market, offering significant cost savings and sustainability benefits. The demand for improved road safety, as well as the reduction of carbon emissions through the use of energy-efficient lighting, further accelerates the adoption of advanced street and roadway lighting solutions in urban and rural areas globally.
In the coming years, the Street and Roadway Lighting Market is expected to witness substantial growth, driven by the continued urbanization and the expansion of road infrastructure, particularly in developing economies. With the advent of smart lighting systems and the increasing integration of IoT-based solutions, cities are set to benefit from enhanced operational efficiency and real-time monitoring capabilities. The ongoing investments in renewable energy sources are also anticipated to boost the market as governments and municipalities focus on sustainable and eco-friendly lighting alternatives. Furthermore, the growing trend toward the implementation of smart grids is likely to create opportunities for advanced street and roadway lighting solutions, fostering an increase in market penetration.
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Who are the largest Global manufacturers in the Street And Roadway Lighting Market?
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Segmentation of Street And Roadway Lighting Market-
Street and Roadway Lighting Market, By Lighting Type
• Conventional Lighting
• Smart Lighting
Street and Roadway Lighting Market, By Light Source
• LEDs
• HID Lamps
• Mercury Vapor Lamps (MVL)
• High-Pressure Sodium (HPS) Lamps
• Metal Halides and Induction Lamps
• Fluorescent Lights
Street and Roadway Lighting Market, By Wattage Type
• Less Than 50W
• Between 50W and 150W
• More Than 150W
Street and Roadway Lighting Market, By Offering
• Hardware
• Lights and Bulbs
• Luminaires
• Control Systems
• Software
• Services
Street and Roadway Lighting Market, End-User Industry
• Highways
• Street and Roadways
• Others
Which regions are leading the Global Street And Roadway Lighting Market?
- Global (United States, Global and Mexico)
- Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
- Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
- South America (Brazil, Argentina, Columbia, etc.)
- Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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Detailed TOC of Global Street And Roadway Lighting Market Research Report, 2024-2031
1. Introduction of the Global Street And Roadway Lighting Market
- Overview of the Market
- Scope of Report
- Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Research
- Data Mining
- Validation
- Primary Interviews
- List of Data Sources
4. Global Street And Roadway Lighting Market Outlook
- Overview
- Market Dynamics
- Drivers
- Restraints
- Opportunities
- Porters Five Force Model
- Value Chain Analysis
5. Global Street And Roadway Lighting Market, By Type
6. Global Street And Roadway Lighting Market, By Application
7. Global Street And Roadway Lighting Market, By Geography
- Global
- Europe
- Asia Pacific
- Rest of the World
8. Global Street And Roadway Lighting Market Competitive Landscape
- Overview
- Company Market Ranking
- Key Development Strategies
9. Company Profiles
10. Appendix
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