Market Research Report
United States LED & Smart Street Lighting: Market Forecast (2018-2027)
|Published by||Northeast Group, LLC||Product code||714006|
|Published||Content info||146 Pages + 25 slide Executive Summary Presentation + dataset covering 306 cities
Delivery time: 1-2 business days
|United States LED & Smart Street Lighting: Market Forecast (2018-2027)|
|Published: September 30, 2018||Content info: 146 Pages + 25 slide Executive Summary Presentation + dataset covering 306 cities||
The US street lighting market is rapidly evolving. When Northeast Group first surveyed the US streetlight market back in 2012, LED streetlights were still primarily being piloted, utilities had not developed LED streetlight tariffs, the business case for smart/connected street lighting was undeveloped, and cities remained wary of vendor and third-party financing. All of these factors have changed dramatically in the past six years. LED luminaires are becoming the default as existing streetlights expire and smart streetlights are forming the basis of more expansive smart city projects. Cities now realize that LED and smart streetlights provide a unique opportunity to save costs while simultaneously improving public safety and offering new services to their residents. States are also now getting involved to promote these projects in smaller cities. These trends will lead to continued growth in the market, with $6.6 billion invested in LED street lighting and a further $1.4 billion invested in smart street lighting over the next decade.
To assess these transformations, Northeast Group conducted the most comprehensive survey of the US street lighting market to date, researching the number of streetlights, ownership structure, and conversion status of over 300 of the largest cities (cities with a population over 100,000). This includes a sample size more than three times larger than existing data from the US Department of Energy. Northeast Group also gathered data from all leading vendors to compile market share for streetlight controls and communications and assessed primary data from awarded contracts to analyze pricing trends.
The results of this survey demonstrate that many of the initial challenges are being overcome and benefits are being realized. Cities have seen real energy savings and innovative financing and tariff structures - along with declining prices - have made these projects attractive for a majority of US cities. Indeed, the next step appears to be integrating these projects into larger smart city deployments.
This final step presents new challenges, and until they are overcome, some cities will wait to invest in smart street lighting. But the enormous opportunities presented by smart street lighting and smart cities mean that these obstacles too will soon be overcome, leading to $8 billion in cumulative investment over the next decade.