The annual revenue from smart street lighting will grow by 31% between 2018 and 2026, according to a new report issued by ABI Research.
The reports states that the global smart lighting market will grow 10-fold to reach $1.7 billion in annual revenue by 2026.
The study highlights that:
1. North America was the market leader in 2018, accounted for 31% of the global market, followed by Europe and the Asia Pacific
2. The majority of projects in Europe are using non-cellular LPWA networks. However, the region will witness an increase in projects deploying cellular LPWA networks eg NB-IoT in Q2 2020
3. The Asia Pacific will have the largest base of installed smart streetlights by 2026 owing to large rollouts and building of local LED component manufacturing facilities in China and India
4. Smart street lighting applications that have seen the most adoption are:
a. Remote scheduling of dimming profiles based on seasonal changes, time shifts, or special social events
b. Metering individual street light energy consumption for accurate usage-based billing
c. Asset management to improve maintenance planning; and finally, sensor-based adaptive lighting
5. Street lighting programmes will focus on replacing conventional lamps with LED lamps
6. 20% of LED street lamps will be truly “smart” through integration with lighting controls systems.
7. By 2026, central management systems will connect to over two-thirds of all new LED street light installations.
Adarsh Krishnan Principal Analyst at ABI Research, said: “Smart street lighting vendors such as Telensa, Telematics Wireless, DimOnOff, Itron, and Signify have been the most successful in benefiting from their cost-optimised products, market expertise, and aggressive commercial approach.
“And, there are additional opportunities to be had by smart city suppliers leveraging street pole infrastructure by hosting of wireless connectivity infrastructure, environmental sensors, and even intelligent cameras. The challenge is finding a feasible business model that encourages deployment of multi-sensor solutions cost-effectively at scale.
“In India and China, LED streetlights have seen a very low penetration of lighting control systems due to a nascent domestic solution vendor ecosystem and international vendors that are unable to adapt their solution to meet local market requirements for innovative yet low-cost products.
"Low-cost solutions based on cellular LPWA network technologies followed by non-cellular LPWA network technologies will witness the most growth in the APAC region, accounting for a market share of 48 percent and 36 percent respectively of the total install base in 2026."
For more information about the report, visit Smart Street Lighting.