Smart street lamp investment will reach 28.1 billion US dollars by 2029

As global smart city projects show continued prospects, but also face unbalanced prospects, their basic layer-smart street lighting-continues to show steady growth, and large-scale projects are now in almost all regions of the world. In progress. This is based on a new study released by the market intelligence company Northeast Group.

In the next ten years, the total investment in LED and smart street lighting and additional smart city sensors attached to street lighting infrastructure will reach 28.1 billion US dollars.

According to Volume VI of Global Smart Street Lighting and Smart Cities: Market Forecast (2020-2029), more than a quarter of the world's street lights are converted to LEDs, and more than 10 million smart street lights are connected to the Internet, excluding China and India.

With the development of the market, the supplier structure is still very fragmented, and the time for integration is ripe.

At present, the market also includes some suppliers that mainly focus on software components of smart street lights. By 2029, the annual recurring revenue of smart street lights will exceed US$200 million.

Including LED lighting and other smart city infrastructure, hundreds of suppliers are active in this market.

Chris Testa, Research Director of Northeast Group, said: "The challenges of 2020 have strengthened some of the key trends that the smart street light market has developed.

"Covid-19 emphasizes the importance of urban automation and resilience, but the reduction in municipal budgets means that the opportunity to obtain financing through energy-saving service companies and other third parties is becoming more and more important. Similarly, before proceeding with other applications, from smart street lighting The initial smart city phased implementation approach and the focus on selecting interoperable software platforms that can provide services to multiple smart city segments are also key trends that have only become more prominent in the past year."