Smart City Street Lighting Innovation to Realise $15 Billion in Energy Savings

Share on twitter
Share on linkedin
Share on facebook

New data from Juniper Research has revealed that smart street lighting deployments will realise $15 billion in cumulative energy savings for cities to 2023.

These will be achieved as a result of converting lamps to energy-efficient LEDs as well as the addition of connectivity to monitor and control the status of each individual light; saving up to 50% energy per light.

Juniper’s new research, Smart Cities: Leading Platforms, Segment Analysis & Forecasts 2019-2023 found that connected street lights are set to grow on average by 42% per annum between 2019 and 2023; reaching close to 70 million units by the end of the forecast period. It argued that growing open platform adoption would enable street lighting to act as a major hub point for additional smart city services, such as public safety and smart transport.

For more insights, download our free whitepaper: The Future of Lighting & Urban Mobility in Smart Cities.

Siemens Tops Smart City Platform Vendors

As part of this new research, Juniper has ranked the industry’s leading smart city platform vendors:

  1. Siemens
  2. Oracle
  3. IBM
  4. Huawei
  5. Itron

Juniper found that Siemens’ MindSphere platform, coupled with its City Performance Tool and recent Mendix acquisition represents a compelling offering. In addition, the company is able to offer significant market vertical expertise to aid in service launches. Meanwhile, Oracle is able to offer a broadly capable platform in addition to extensive worldwide smart city deployment experience.

Open Platform Approaches Gather Steam

The research found that many cities are now moving away from point solutions, towards platform procurement. It argued that street lighting platforms would serve as the entry point for a number of cities looking to deploy smart city projects.

“The cost savings enabled by smart street lighting mean that many cities will look to this as a first-stage smart city project”, remarked research author Steffen Sorrell. “Choosing an open platform will be key here, as additional services can be launched from the same point, while simultaneously driving up third party vendor competition.”

The post Smart City Street Lighting Innovation to Realise $15 Billion in Energy Savings appeared first on The Fintech Times.

Share on twitter
Share on linkedin
Share on facebook
Gary Wright

Gary Wright

Gary Wright is a leader in financial market innovation based on in depth knowledge of financial markets processes and specialising in data.

B.I.S.S. Research is an independent research company facilitating Academic Research for Financial Services.