Global smart streetlight installations to reach 64 million by 2027

By the end of 2027, installations will reach 63.8 million, a compound annual growth rate (CAGR) of 22.7%.

Europe leads in the adoption of smart street lighting technology, accounting for 35% of global installations by 2022. North America is catching up with Europe and growing strongly, accounting for about 37% of global shipments by 2022. Meanwhile, nearly half of the smart streetlight installation base outside Europe and North America is located in the region.

As of the third quarter of 2023, Signify is the world's leading smart streetlight supplier with nearly 4.9 million connected streetlights, accounting for 18% of global installations. The company climbed to the top of the list after acquiring former market leader Telensa in July 2021. The top three also include Itron in the United States and China's Frontage Technology, with most of Frontage Technology's lighting controllers deployed in the domestic market. Overall, the top three suppliers account for almost a third of the world's independently controlled smart streetlight installations. Additionally, Itron is also a global leader in the networking space.