According to a new report from Navigant Research, the global smart streetlight market value will reach $610 million in 2017 and grow to $6.9 billion in 2026. Market share is expected to increase from 2% in 2017 to around 20% in 2026.
By 2026, the global smart street lamp market will increase to 6.9 billion US dollars
The Smart Street Lighting for Smart City report concludes that LED lighting is now a standard replacement for traditional street lighting in most cities around the world, and intelligent controls are beginning to become more widespread and increasingly deployed with LED lighting.
Many cities around the world are likely to replace existing streetlights with new, more efficient lighting in a longer-term process, not only to achieve energy efficiency standards, but also to be economically viable. LED lighting is clearly the most sensible option, but the new Navigant report says that intelligent control currently accounts for only 2% of the 2017 streetlight installation base and is not fully utilized.
According to the report, this situation may change, and the installed base of smart street lights is expected to grow from the current 6.3 million to an astonishing 73 million in 2026.
“As LEDs become street lighting upgrades, the next frontier for smart street lighting networks is to rapidly increase the deployment of control technology and turn it into an innovative platform for smart cities,” said Ryan Citron, an analyst at Navigant Research. “Sensors and Other technologies are being added to the intelligent street lighting network to provide a host of new urban services, including gunshot detection, air quality monitoring, electric vehicle charging, traffic management and smart parking."
Obviously, there are many driving factors behind the current smart street lamp economy. LED lighting is widely accepted due to significant cost reductions and improved lighting quality. LEDs now provide the necessary yellow light for street lights. A year ago, Cree introduced the new RSW LED street lighting system, the first of a new generation of lighting that not only improves energy efficiency, but also provides the warmth color temperature that street lamps require most.
At the time, Norbert Hiller, executive vice president of Cree Lighting, said: “Cree is committed to providing a better lighting experience by continuing to develop the true potential of LED technology. Cree's RSW series ensures that residents no longer need to face glare at night, saving The city's energy, while reducing residents' complaints about glare street lighting."
The Navigant report explains that installing an intelligent control system while deploying new LED lighting is the cheapest way, which explains why intelligent control measures are still lagging behind. Smart streetlights may be an important tool for cities to adapt to future energy efficiency requirements, but there are still some obstacles. Navigant Research highlights these concerns: “Reducing citizens’ concerns about surveillance and privacy intrusion, legacy streetlight ownership models in some jurisdictions, application complexity and increased up-front capital requirements are all facing the smart streetlight market. challenge."
Navigant predicts that by 2026 Europe will have the largest installed base of intelligent street lights, followed by Asia Pacific and North America.