According to the report prepared by Navigant Research, Signify declared its leadership in street lighting with the most points. The study also predicts that global revenue due to smart street lighting will reach $8.3 billion by  2027 Industry analyst firm Navigant Research has published its report titled "Leaderboard: Smart Street Lighting." In the report, Signify was named a leader in Smart Street Lighting worldwide. Navigant Research defines smart street lighting as "a general concept for the use of advanced technologies in efficient operation, monitoring and management applications within the framework of a smart city strategy". Smart street lighting uses technologies such as sensors, control nodes, gateways, cameras, wireless communication and data analytics. In Navigant's Smart Street Lighting Leaderboard report, 14 connected street lighting vendors worldwide are evaluated based on criteria such as go-to-market strategy, partners, product strategy, geographic coverage, market location, sales, marketing and distribution, product features and portfolio, product integration, and market dwelling.According to the evaluation, the company with the best performance in all these areas is Signify... Navigant Research predicts that the global market for smart street lighting will reach $837.4 million in 2018. Annual smart street lighting revenue is expected to reach about $8.3 billion by 2027; this indicates a compound annual growth rate of 28.9%. Signify scored high on all evaluation criteria for smart street lighting. According to the report, "Signify's experience as a lighting company offering end-to-end systems gives it an advantage over many of its competitors." The report also highlights the success of the company's Interact City LED-connected street lighting system and management software, which has so far been used in more than 1,000 projects in 37 countries. The report highlights Signify's leadership in smart lighting technologies and highlights its position as a lighting company on the Internet of Things. The executive summary of the report is available for free from Navigant Research's website. Signify has become the new name of Philips Lighting as of May 16, 2018. The company will be in the Philips Lighting Lighting Tic. Inc. will continue to hold its trade title.