According to a new study by Northeast Group, Australia and New Zealand will invest up to $780 million in streetlights over the next decade.
Over 95% of streetlights in Oceania will have been converted to LEDs, while 70% will be networked by 2027.
Factors driving the investments include falling prices and stakeholder's growing awareness of the benefits of adopting smart streetlights.
Favourable regulations on energy efficiency are expected to play a key role in market expansion.
Ben Gardner, president of Northeast Group, said: “Oceania had previously been a slow mover in smart street lighting, held back by higher prices, technical hurdles, and streetlight ownership challenges.
“But the New Zealand government is now funding 85% of the cost of streetlight projects and Australian states have come up with new financing mechanisms and lighting codes that are encouraging deployments. New Zealand already has over 25% of its streetlights networked.”
Australia's move to develop smart city infrastructure has been a key driver. The majority of the streetlights are primarily owned by utilities, but as smart city plans increase, smart street lighting will provide a critical foundational layer.
There are already smaller projects underway using LoRa and NB-IoT communications, implying a wide variety of vendors could participate.
For more information about the report, visit www.northeast-group.com