Smart Lighting Market was valued at US$ 10.9 Bn. in 2021 and is expected to reach US$ 48.78 Bn. by 2029, at a CAGR of 20.6 % during a forecast period.
Smart Lighting Market Overview
The research includes in depth analysis on a global and regional Smart Lighting markets and also gives a thorough analysis of the market’s long term prospects. A description of key competitors as well as the most successful marketing tactics, contributions and current trends and market backdrops are all included in the report.
Market data in the report is organised in areas like innovation, administration, and applications across topographies in MMR research. The research includes the high end analysis of important market sectors and opportunities and threats and risks is included in the MMR research.
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Market Scope
The report focuses on the crucial key drivers of the Smart Lighting market as well as the current competitive benchmarking and development prospects. For the competitive analysis the report includes the profile of the key market players in the Smart Lighting market including company overview, financial performances, portfolios and marketing strategies. Uses of methodologies were done while researching the Smart Lighting market such as SWOT, PESTLE, PORTER’s five forces to understand the strengths, weakness, opportunities and known and unknown risks and threats. It also comprises of the qualitative and quantitative data for research of the Smart Lighting market.
Market Dynamics
Since it can easily be integrated into the city infrastructure or the IT network of a building to transmit data about the operation's state, smart lighting is also referred to as connected lighting. For instance, IoT-connected smart street lights that provide extensive coverage, environmental monitoring, information on parking and traffic management, and municipal surveillance help to ensure safety. Having sensors built into them, smart lights are frequently a source of intelligence for gathering information on activity patterns, sunlight levels, occupancy, temperature changes, or humidity. Governmental organisations need this information to monitor the city in order to react appropriately and keep an eye out for suspicious behaviour.
Market Segmentation
In 2021, the wireless connectivity segment had the largest market share according to the Communication Channel. In a smart lighting environment, consumers who need connections within a short distance strongly prefer wireless connectivity, making it the market category with the largest growth over the forecast period. With the help of wireless technologies like Wi-Fi, Bluetooth, SmartThings, Z-Wave, or ZigBee, lighting fixtures can be connected to smartphone apps. The residential lighting market has embraced wireless technology heavily to control the colour and tint of luminaires for aesthetic reasons in small spaces.
Due to the rising popularity of smart lighting fixtures and bulbs that users can control to create different lighting moods, the indoor lighting segment held the largest market share in 2021, according to End Users. Another factor driving demand for commercial and industrial space is the need to regulate lighting usage, as offices and warehouses need to be open 24/7 and require consistent power during the day and at night. When intelligent lighting with built-in sensors is installed, only the areas where lights are actually needed are illuminated in response to the movement of people that the sensors detect. Additionally, the light setting may automatically dim depending on the exterior lighting inside the structure.
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Key Players
• Philips Lighting
• Acuity Brands
• Osram
• Cree
• General Electric (GE + Current)
• Eaton
• Honeywell
• Legrand
• Hubbell Lighting
• Zumtobel Group
• Hafele Group
• Lutron Electronics
• Wipro Consumer Care and Lighting
• Streetlight.Vision
• Virtual Extension
• Syska LED
• Leviton Manufacturing
• Switchmate, Inc.
• Gooee
• Lifx
• Isotera
• Ketra
• Tao Light
• Nualight Limited
Regional Analysis
The report includes division of the Smart Lighting market segments into different regions and their significant growth during the forecast period. The Smart Lighting market report includes the geographic condition of the market and revenue as well as in depth research of the business network structure and new updates of market.
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Key Questions answered in the Smart Lighting Market Report are:
Key offerings:
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Mar 06, 2023
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