Next wave of IoT investment to occur in $69.5bn streetlight market

WASHINGTON, Oct. 25, 2016 /PRNewswire/ -- The first wave of Internet of Things (IoT) investment has already occurred in the utility sector with smart grid deployments. The next wave will take place in the public outdoor street lighting market. Over the course of the next decade, cities and municipalities will transition to LED streetlights which will reach a penetration rate of 89% by 2026. They will also network 42% of the streetlights to make them "smart." Global investment over the next decade will cumulatively reach $69.5bn, according to a new study published today by Northeast Group, LLC.

"LED and smart streetlights are a common sense investment for cities. Costs have fallen significantly and the energy and maintenance savings benefits are proven. There has been a lot of hype surrounding smart cities and the IoT, but the utility sector has the best track record of real-world deployments. Utilities and cities have already deployed smart grid and smart metering infrastructure and now they are proceeding with their street lighting infrastructure," according to Ben Gardner, president of Northeat Group.  

Many large deployments are already underway across the Americas, Europe and Asia – including projects in countries as diverse as India, Brazil, Kazakhstan, South Africa and Vietnam. The study includes a cost-benefit analysis of both LED and smart street lighting, details on 20 case study deployments and an explanation of drivers and challenges in the sector. It also includes summaries of the 12 leading markets – including streetlight ownership structures and technical standards – and 10-year forecasts for 125 individual countries by streetlight type.   

In the fragmented vendor landscape, some leaders are beginning to emerge. The study includes market share data for the leading smart, or networked, streetlight vendors. These include Telensa, Silver Spring Networks, Echelon, Philips, DimOnOff, GE, Harvard Technology, Sensus and others. In addition, there are a number of LED vendors including Acuity, Bridgelux, Cree, Cooper, LED Roadway, Osram, Schréder and others serving this growing market.   

Northeast Group's Global LED and Smart Street Lighting: Market Forecast (2016 – 2026) Volume III study is 174 pages long and comes with a PowerPoint executive summary and dataset in Excel covering 125 individual countries. To order a copy of the study, please visit: www.northeast-group.com

ABOUT: Northeast Group, LLC is a Washington, DC-based smart infrastructure market intelligence firm. www.northeast-group.com

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/next-wave-of-iot-investment-to-occur-in-695bn-streetlight-market-300350171.html

SOURCE Northeast Group, LLC

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