Signify Leads Fast-Growing Smart Street Lighting Market, According to Navigant Research

Industry analyst firm, Navigant Research, has reported that Signify (formerly Philips Lighting) is ranked it as the leader for Smart Street Lighting globally. Navigant Research defines smart street lighting as “a general label for the use of advanced technologies for the efficient operation, monitoring, and management of street lighting within a smart city strategy.”

A variety of technologies combine to form smart street lighting systems including sensors, control nodes, gateways, cameras, wireless communications, and data analytics.

Navigant’s Smart Street Lighting Leaderboard looked at 14 international suppliers of connected street lighting on criteria including go-to-market strategy, partners, product strategy, geographic reach. Additional factors that the firm investigated include market presence, sales, marketing, and distribution, product features and portfolio, product integration and staying power. Navigant ranked Signify as the overall leader with leadership in Strategy and Execution.

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Navigant Research -- graph of smart street lighting firms rated in terms of strategy and execution

Navigant Research — graph of smart street lighting firms rated in terms of strategy and execution

Leaders and Contenders

Navigant identified two other companies as Leaders in the smart street lighting market, Itron (through its added offerings from the recent acquisition of Silver Spring Networks) and Telensa. According to Navigant, these three smart streetlight vendors have deployed large-scale connected street lighting projects in multiple world regions, and they understand the importance of smart street lighting to the smart cities market. The company also revealed a group of Contenders led by Echelon, Rongwen, and Current, powered by GE that is creating innovative technology solutions and managing significant city deployments.

One company, Acuity Brands, which has been very successful in the general lighting market, was not ranked as highly in the smart street lighting realm according to Navigant’s criteria which places the company just outside of the contenders.

Smart Lighting Revenue to Grow Rapidly

Navigant Research estimates that in 2018, the total revenue for smart street lighting around the world will reach $837.4 million. The firm forecasts that this annual smart street lighting revenue around the world will grow to almost $8.3 billion, representing a compound annual growth rate (CAGR) of 28.9%.

The research firm rated Signify highly across all criteria for smart street lighting. According to the report, “Signify’s background as a lighting company that offers end-to-end systems gives it an advantage over most of its competitors.” Navigant Research also pointed to the success of Signify’s Interact City LED connected street lighting system and management software which has already been deployed in more than 1,000 projects across 37 countries.

In addition to revealing Signify’s leadership in Smart Streetlighting, Navigant’s findings underscore Signify’s position as the lighting firm for the Internet of Things. The company says asserts that the next phase of smart street lighting development includes rapidly increasing deployments of controls technology and the utilizing street lighting as a broader platform for smart city innovations.

Navigant Research has made an executive summary of the report about smart street lighting available for free download.

Signify became the new name of Philips Lighting on May 16, 2018.