Smart streetlight market is 'ripe for consolidation'

Source: Smart Cities Dive Published: December 3rd, 2020

The global smart street lighting market is expected to see $28.1 billion in total investment over the next decade, according to a new market forecast published this week by infrastructure intelligence firm Northeast Group. This value includes investments in LED and smart lighting infrastructure and in related sensor investments.

The study highlights opportunities in the coming decade for consolidation of the "extremely fragmented" vendor landscape, most of which is focused on software — a product expected to reach over $200 million in recurring revenue annually by 2029, Northeast Group reports.

This forecast marks Northeast Group's sixth edition of the industry-standard study, which analyzes the streetlight market across 125 countries. These countries are home to 326 million streetlights, 73% of which will have LED luminaires by the end of the decade, according to the study.

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