U.S. LED & Smart Street Lighting: Market Forecast to 2027 - Analysis on Major Investments over the Next Decade - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Jan 11, 2019--The “United States LED and Smart Street Lighting: Market Forecast (2018 - 2027)” report has been added to ResearchAndMarkets.com’s offering.
The US street lighting market is rapidly evolving.
When the publisher 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, the publisher 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.
The publisher 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.
1. What’s New in 2018?
2. US Streetlight Survey Results
3. US Street Lighting Overview
4. Market Forecast
For more information about this report visit https://www.researchandmarkets.com/research/n9z96j/u_s_led_and?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20190111005386/en/
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Related Topics:LED (Light Emitting Diodes)
INDUSTRY KEYWORD: MANUFACTURING OTHER MANUFACTURING
SOURCE: Research and Markets
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PUB: 01/11/2019 12:27 PM/DISC: 01/11/2019 12:27 PM