Global Internet of Things (IoT) investment in streetlight market will cumulatively reach $69.5 billion over the next decade, according to a new study published today by Northeast Group, LLC.
Cities and municipalities are projected to transition to LED streetlights which will reach a penetration rate of 89% by 2026. They will also network 42% of the streetlights to make them “smart” over the course of the next decade. Out of the $69.5 billion mark, $57 billion will be for LED streetlights and $12.6 billion for “smart” networked streetlights.
With the utility sector with smart grid deployments being the first wave of IoT investment, moving on to public outdoor street lighting market seems like a logical step. Ben Gardner, president of Northeast Group, shared his assessment of the ongoing IoT investments and results:
“LED and smart streetlights are a common sense investment for cities. Costs have fallen significantly and the energy and maintenance savings benefits are proven. There has been a lot of hype surrounding smart cities and the IoT, but the utility sector has the best track record of real-world deployments. Utilities and cities have already deployed smart grid and smart metering infrastructure and now they are proceeding with their street lighting infrastructure.”
While LED and smart streetlights are already a part of some successful projects, they present a sporadic trend that is still waiting for its major global appliance. Currently, there are quite a few large deployments underway around the world, including projects in diverse countries as India, Brazil, Kazakhstan, South Africa and Vietnam.
Northeast Group’s Global LED and Smart Street Lighting: Market Forecast (2016 – 2026) Volume III study is 174 pages long, covers 125 individual countries and offers a comprehensive overview of the current and projected market forecast.
The study includes a cost-benefit analysis of both LED and smart street lighting, details on 20 case study deployments and an explanation of drivers and challenges in the sector. It also includes summaries of the 12 leading markets, including streetlight ownership structures and technical standards, together with the 10-year forecasts for 125 individual countries by streetlight type.
The study also includes market share data for the emerging smart, or networked, streetlight vendors. Due to the fragmented nature of the market, many vendors see their chance to establish a leading position. Some of these vendors are Telensa, Silver Spring Networks, Echelon, Philips, DimOnOff, GE, Harvard Technology, Sensus and many others. In addition, there are a number of LED vendors including Acuity, Bridgelux, Cree, Cooper, LED Roadway, Osram, Schréder and others serving this growing market.
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