Market forecast

According to a new report published by the Northeast Group, the interest in smart street lighting triples in US cities. Of the cities with more than 100,000 residents, 314 cities are converting to LED lighting and the country will invest $8.2bn in street light modernisation over the next decade.

In addition, the Global Smart Street Lighting & Smart Cities: Market Forecast (2019-2028) reveals that the over-all investment in LED and smart streetlights, as well as supplementary smart city sensors attached to streetlights, will reach $50.4bn over the next decade.

New market opportunities

Although the US has been cautious to invest in smart city technologies, various statements highlight, investments in smart city technology are securing important cost-savings as cities face budget gaps in the wake of economic challenges related to COVID-19.

“The smart street lighting market has rapidly advanced since our last survey back in 2018,” said Chris Testa, Research Director at the Northeast Group. “The number of planned projects has more than doubled, prices have stabilized, and the benefits are better understood,” he added.

As LED and smart street lighting projects have always represented enormous efficiency opportunities for cities, with savings typically reaching over 65 percent, the increasing demand for smart street lightning makes the US and in particular New York City a growing market for start-ups and companies worldwide.

Smart lighting will form the backbone for larger smart city programs all over the US as cities look to add smart parking, environmental sensors, electric vehicle charging infrastructure, traffic monitoring and other applications producing new urban data streams.

Want to know more?

Danish Cleantech Hub is a public-private partnership, led by the Confederation of Danish Industry and State of Green.

We support the visibility and commercialization of Danish companies and expertise in the U.S. by providing a single point of entry for all cleantech-related activities between Denmark and USA. Danish Cleantech Hub provides tailored assistance to Danish companies and assists all export related activities.

If you are interested in the US market opportunities, feel free to contact Mille Munksgaard, Project Manager mimu@di.dk for more information.

A report from the Northeast Group estimates the largest 314 cities in the US (those with over 100,000 residents) are converting to LED streetlights in the next decade. This will lead to a $8.2 billion investment in streetlight modernization over the next decade and greater investments in smart street lighting. Smart street lighting is IoT-enabled, and reports have found that cities implementing these actions achieve energy savings of up to 80 percent, leading to cost-savings as well as sustainable cities.

Although the US has been cautious to invest in smart city technology, the Northeast Group reports investments in smart city technology are reaping important cost-savings as cities face budget shortfalls in the wake of COVID-19 related economic challenges.

“The smart street lighting market has rapidly advanced since our last survey back in 2018,” said Chris Testa, research director at Northeast Group. “The number of planned projects has more than doubled, prices have stabilized, and the benefits are better understood.”

The increasing demand for innovative street lightning solutions makes the US a market Danish companies should look for, as Denmark has already proven how technology-driven changes in street lightning contribute to livable and resource efficient cities.

Want to Know More?

Danish Cleantech Hub is a public-private partnership, led by the Confederation of Danish Industry and State of Green. We support the visibility and commercialization of Danish companies and expertise in the U.S. by providing a single point of entry for all cleantech-related activities between Denmark and USA. If you want to get in touch with us to please write to mimu@di.dk for more information.

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