Global investment in LED and smart streetlighting, as well as additional sensors attached to streetlight infrastructure, is forecast to reach a total of US$28.1 billion over the next decade, according to Northeast Group’s latest market forecast.The smart infrastructure market intelligence firm expects coronavirus to cause only “limited disruption” to the smart streetlighting sector but predicts an increase in the use of new financing models and market consolidation.Globally, there are 326 million streetlights and this is expected to grow to over 361 million by the end of 2029. Overall, LED and smart streetlights are projected to reach 73 percent and 23 percent of the total streetlight market, respectively, by then as cities seek to save money and lay the foundations for smart city projects related to mobility, public safety, sustainability and more.To date, a quarter of all streetlights globally have been converted to LEDs and over 10 million smart streetlights have been connected.
+INFO: Cities Today
