Berg Insight has released a new report analysing the global penetration of smart street lights between 2018 and 2023.
The number of installed smart street lights will increase by 24.5% during the forecast period from 10.4 million to 31.2 million, according to the study.
Europe is expected to dominate the market, with a 40% share of the industry, during the forecasted period.
North America had a 30% share of the market in 2018 owing to an increase in rollouts by utilities. Despite scattered deployment, the region is home to several of the world’s largest deployments.
Levi Ostling, an IoT analyst with Berg Insight, said: “While various proprietary RF mesh or star networks today account for the majority of smart street lighting installations, the adoption of LPWA technologies such as NB-IoT and LoRa is now growing fast, particularly in the European and Asian markets.
“… the smart street lighting market is currently undergoing significant transformation and is now entering a new era of competition where the success of vendors will be determined by their ability to establish themselves as competitive providers of communications and management platforms for smart city devices.
“Finding new ways to monetise data from a variety of smart city sensors and devices will be essential for smart street lighting vendors in the next couple of years to avoid becoming mere vendors of commoditised hardware.”
Leading market vendors include Telensa, Itron (following the acquisition of Silver Spring Networks) and Sensus.