IoT Analytics forecasts Connected Streetlights Market Revenues To Reach $3.6B by 2023.
Hamburg, Germany 21 June 2018 //
IoT Analytics, a leading provider of market insights & competitive intelligence for the Internet of Things (IoT), M2M, and Industry 4.0, today published a comprehensive Market Report, focusing on sizing the quickly developing market for Connected Streetlights during the period 2018 to 2023. It is estimated that there will be 41 million IoT connected Streetlights installed globally by 2023. The overall streetlights market will surpass US$3.6B in 2023, growing at a compound annual growth rate of 21% from 2018. Deployment of connected streetlights is gaining traction globally as the technology is one of the key pillars for Smart City initiatives. The growth is fueled by government policies and increasing awareness on the benefits of connected Streetlights which go beyond energy savings.
Sample Case Study Highlighted as Part of the Report:
In 2016, the governing body in Los Angeles, United States, embarked on a connected streetlight project. Through the installation of 110,000 units, the city managed to reduce annual costs by over US$9M in terms of energy savings resulting from 63% reduced energy consumption annually. In addition, the city also managed to reduce annual maintenance costs by over US$ 3M. Overall CO2 emission reduced by 61,000 tonnes, thanks to the initiative.
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Overall Report Insights
In addition to a comprehensive view of the streetlights market, the technology and various ongoing and completed projects, the report also looks at the competitive landscape of streetlight vendors, including key benefits, drivers, barriers and considerations influencing the deployment of connected streetlights. Telensa and Itron (formerly Silver Spring Networks) are ranked as the market leaders in terms of penetration in the global installed base.
“One of the new trends in streetlights is the use of remote diagnostics and machine learning that enable municipalities to reduce maintenance costs and optimize overall infrastructure uptime.” says Raquel Artes, Senior Analyst at IoT Analytics and main author of the report.
Interestingly, Asia Pacific (APAC) is emerging as the leading adopter of Connected Streetlights. India, China, and Australia are forecasted to have the highest number of deployments in the region.
Besides sizing the streetlights market across regions (North America, Europe, Asia Pacific and Rest of the World), the report examines Connected Streetlight initiatives of municipalities across the world – as such, deployments of Connected Streetlights in 86 cities around the globe have been ranked – some are profiled in depth as case studies. Small and medium sized cities seem to be as innovative as some larger cities. The City of Providence, Rhode Island with 16,000 deployed connected streetlights, for example, ranks #1 in the deployment of connected Streetlights for small cities in North America.
Furthermore, the publication discusses disruptive trends that stakeholders need to watch out for in the Connected Streetlights space and discusses which connectivity technologies will gain traction in the streetlights market in the next 5 years.
Commenting on the findings, IoT Analytics Managing Director Knud Lasse Lueth says: “Smart City initiatives around the globe are quickly gaining traction and IoT-enabled streetlights are an important pillar for most municipalities. The cities at the forefront of implementing such technologies are also realizing that in addition to its core functionalities, connected streetlights play a vital role in acting as a multi-application gateway and will be a central pillar for hosting other IoT applications such as environmental sensors and ultimately will be crucial for the roll-out of future 5G networks.”
The Connected Streetlights Market Report is part of a larger effort of mapping Smart City efforts such as smart mobility, smart parking, smart waste management, citizen engagement, and others.
About IoT Analytics
IoT Analytics is the leading provider of market insights & competitive intelligence for the Internet of Things (IoT), M2M, and Industry 4.0. The boutique research firm helps more than 40,000 Internet of Things decision-makers understand IoT markets every month. IoT Analytics tracks important data around the IoT ecosystem such as market developments, M&A activity, startup funding, company projects, use cases and latest news. Product offerings include in-depth market reports as well as bespoke research and consulting services. As a research pioneer, IoT Analytics combines traditional methods of market research such as interviews and surveys with state-of-the art web-mining tools to generate high-calibre insights.
IoT Analytics is headquartered in Hamburg, Germany. For more information, visit www.iot-analytics.com
Report Structure – Connected Streetlights & Smart Cities Market Report 2018-2023
- Summary & Conclusion
- Overview on Smart Cities
- Global IoT Project Implementations: Smart City is Leading
- Key Themes for Smart Cities
- Overview of Smart City Top
- Key Benefits of Connected Streetlights
- Technology Stack
- Market Size & Outlook
- Global Streetlight Market – Installed Base & Penetration Rate – Units & Percentage
- Global LED Streetlight Market – Installed Base By Region – Units
- Global Connected Streetlight Market – General Overview
- Global Connected Streetlight Market – Installed Base By Region – Units
- Global Connected Streetlight Market – Installed Base By Connectivity – Units
- Global Connected Streetlight Market – Installed Base Penetration Rate by Region – Percentage
- Global Connected Streetlight Market – Revenue By Region – USD
- Global Connected Streetlight Market – Revenue By Product – USD
- Global Connected Streetlight Market – Shipment By Region – Units
- Global Connected Streetlight Market – Shipment By Product – Units
- Global Connected Streetlight Market – Shipment By Connectivity Technology Used – Units
- Global Connected Streetlight Market – Overall Market Share – Percentage
- Global Connected Streetlight Market – North America – General Overview
- Global Connected Streetlight Market – North America – Market Share – Percentage
- Global Connected Streetlight Market – North America – Smartest Cities
- Global Connected Streetlight Market – Europe – General Overview
- Global Connected Streetlight Market – Europe – Market Share – Percentage
- Global Connected Streetlight Market – Europe – Smartest Cities
- Global Connected Streetlight Market – APAC – General Overview
- Global Connected Streetlight Market – APAC – Market Share – Percentage
- Global Connected Streetlight Market – APAC – Smartest Cities
- Global Connected Streetlight Market – Initiatives/Regulations
- Case Studies
- Case Studies
- List of further Smart Streetlight Implementations
- Trends & Challenges
- Key Trends
- Key Barriers to Adoption of Connected Streetlights
- Key Considerations To Deploy Connected Streetlights
Companies Mentioned (selected):
SilverSpring Networks (Itron), Signify (formerly Philips Lighting), Telensa, Echelon, Huawei, Nokia, Ericsson, Current Powered by GE, Microsoft, Cisco, IBM, Vodafone, Smart City Bhopal, Bharti Infratel Limited, Wireless Broadband Alliance, Ajuntament de Barcelona, Schneider Electric, Chordant, PTC.
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