Smart Lighting Market, By Offering (Hardware, Software, Services), By Communication Technology (Wire

Published Date: | Report Code : IT2058899

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The Global Smart Lighting Market is projected to reach USD 106.51 billion by 2028, growing at a CAGR of 27.8% during the forecast period.

Smart Lighting MarketSmart Lighting Market

Smart lighting is an energy-efficient lighting technology. This may include high-efficiency installations and automated controls that create changes depending on circumstances such as the availability of occupancy or daylight. The lightings are also accessible through a smartphone application, making them easily controllable. Additionally, smart lighting systems enable users to change the color and brightness of fixtures from anywhere around the globe. Smart lighting is an essential tool in smart-city development since globally a significant number of public lamps run on high-intensity bulbs that use mercury and other material to operate, having detrimental effects on the environment.

Growing demand for the Internet of Things (IoT) technology, wireless optical networking data transmission technology, and the emergence of light fidelity (Li-Fi) technology are resulting in the growth in the adoption of smart lighting. Also, the amount of money spent by the government on smart architectures and rapid urbanization has drawn the attention of the residential, commercial, and industrial users to adopt smart lighting. The increasing demand for energy-efficient lighting systems is enhancing the adoption of connected and smart lighting, which is impacting the growth of the smart lighting market. The growing trend of integrating the technology with the lighting system is gaining momentum. For instance, GE’s Link Smart Light product is backed up by an app, Wink, to control lighting from any location, which enhances the consumer experience. Apart from GE, many companies, such as Philips Hue, Samsung Smart Bulb, LG Smart Lamp Lumen Smart bulb, LIFX, and Belkin WeMo came up with such technology-integrated lighting products. The increasing number of issues related to environmental safety is influencing the various governments to research and adopt intelligent lighting, owing to the growth of the smart lighting market.

Smart Lighting MarketSmart Lighting Market

Based on communication technology, the wireless segment is expected to dominate the smart lighting market. This is due to the advancement in technologies enabling lighting systems to be controlled by smartphones making it easier and convenient to use.

On the basis of the light source, the smart lighting market is segmented into LED lamps, fluorescent lamps, high-intensity discharge lamps, others. Among these, the LED lamps segment is expected to account for a major share in the smart lighting market. LEDs inherently offer a higher level of controllability, making it considerably simpler for healthcare services to turn out to be accurate with their light levels, atmosphere, and energy consumption. Connecting and Internet-based control frameworks give a transparent look into operational facilities. Since buildings can consume up to one-third of the global energy, they offer one of the most significant opportunities for emission reduction activities. Organizations, like The Capital Group and Philips, are collaborating for seeking to drive primary goals for indoor smart lights after achieving considerable success in replacing all outdoor lights with LED smart lightings by 2025.

In recent years, the Asia-Pacific region saw significant growth in the smart lighting market, and over the forecast period, it is expected to have the highest growth. Creating and developing smart infrastructure in the region, the scaled establishment of smart lighting framework over the private and commercial sectors, and increasing investments by the government on public infrastructure are increasing the growth of the smart lighting market in the region. The Indian housing industry is one of the quickest growing sectors of India. Smart City Mission for 100 cities in the country is driving the smart lighting market. The developing mindfulness concerning the efficiency of smart and connected lighting systems among the rising nations, like Japan, China, India, and Singapore is enabling significant cost savings through energy consumption and is driving the smart lighting market in the region. In India, under the Unnat Jeevan by Affordable LEDs and Appliances for All (UJALA) program, over 250 million LED bulbs were successfully distributed in order to save the energy consumption. Western Europe is also expected to grow at a high rate during the forecast period owing to the increasing standard of living and increasing building automation in European countries such as France, Germany, and the United Kingdom.

However, the smart lighting market faces restraints like the high initial cost of installation and also, it has been noted that when LEDs are operated in high-temperature environments, there is a change in the current passed through the semiconductor element which is likely to burn out the LED module.

Key Factors Impacting the Growth of Smart Lighting Market:

    • Growing demand for the Internet of Things (IoT) technology and wireless optical networking data transmission technology.
    • The emergence of light fidelity (Li-Fi) technology.
    • Government investments in smart cities and rapid urbanization.
    • Increasing demand for energy-efficient lighting.
    • High Cost of Installation.
    • Temperature Sensitivity.

Key Developments in the Smart Lighting Market:

    • In May 2018, Cree (US) expanded its SmartCast Intelligence platform. The company announced a new collaboration with Synapse Wireless Inc. (US) to deliver intuitive, intelligent lighting control designed specifically for outdoor area and high-bay applications
    • In Jul 2018, Philips Lighting (Netherlands) planned to launch more than 20 experience centers across the country this year, to cash in on the strong demand for smart lighting products. The company has seen sales of smart lights grow three times in the consumer segment in the last one year and seeks to increase the sales five times this year
    • In October 2018, Ideal Industries Inc. (US) announced the acquisition of Cree Lighting (US), expanding its intelligent lighting control solutions and LED lighting fixtures business for commercial, industrial, and consumer applications. It was a separate operating division of Ideal Industries Inc.

What Does This Report Provide?

This report provides a detailed understanding of the global smart lighting market from qualitative and quantitative perspectives during the forecast period. The report also provides dynamic indicators with a potential impact on the market during the forecast period and an in-depth analysis of the leading companies operating in the smart lighting market.

Market Segmentation:

By Offering:

    • Hardware
      • Lights & Luminaries
      • Lighting Controls
    • Software
    • Services
      • Design & Engineering
      • Installation
      • Post-Installation

By Communication Technology:

    • Wired
    • Wireless

By Installation Type:

    • New
    • Retrofit

By Light Source:

    • LED Lamps
    • Fluorescent Lamps
    • High-Intensity Discharge Lamps
    • Other

By Application:

    • Commercial
    • Residential
    • Public Infrastructure
    • Others

By Region:

    • North America
      • By Country (US, Canada, Mexico)
      • By Offering
      • By Communication Technology
      • By Installation Type
      • By Light Source
      • By Application
    • Western Europe:
      • By Country (Germany, UK, France, Spain, Rest of Western Europe)
      • By Offering
      • By Communication Technology
      • By Installation Type
      • By Light Source
      • By Application
    • Eastern Europe:
      • By Country (Russia, Turkey, Rest of Eastern Europe)
      • By Offering
      • By Communication Technology
      • By Installation Type
      • By Light Source
      • By Application
    • Asia Pacific
      • By Country (China, Japan, India, Rest of Asia Pacific)
      • By Offering
      • By Communication Technology
      • By Installation Type
      • By Light Source
      • By Application
    • Middle East:
      • By Country (UAE, Qatar, Iran, Saudi Arabia, Rest of Middle East)
      • By Offering
      • By Communication Technology
      • By Installation Type
      • By Light Source
      • By Application
    • Rest of the World
      • By Region (South America, Africa)
      • By Offering
      • By Communication Technology
      • By Installation Type
      • By Light Source
      • By Application

Companies Covered: Major Companies profiled in the report which are key players in the global smart lighting market are Philips Lighting, Acuity Brands, Osram, Cree Inc., General Electric, Eaton, Honeywell, Legrand, Hubbell Lighting, Zumtobel Group, Hafele Group, Lutron Electronics, Wipro Consumer Care and Lighting, Streetlight Vision, Virtual Extension, Signify NV, ABB Ltd., Syska LED, Leviton Manufacturing, Switchmate Inc., Gooee, Lifx, Isotera, Ketra, Tao Light, and Nualight Limited.

Years Considered In The Study

Historic Year

2016, 2017

Base Year

2018

Forecast Period

2019-2028 

CAGR % (2019-2028)

27.8 %

Reasons to Buy This Report:

    • Market size estimation of the global smart lighting market on a regional and global basis.
    • The unique research design for market size estimation and forecast.
    • Profiling of major companies operating in the smart lighting market with key developments.
    • Broad scope to cover all the possible segments helping every stakeholder in the market.

Customization:

We provide customization of the study to meet specific requirements:

    • By Segment
    • By Sub-segment
    • By Region/Country

For more information, contact: [email protected]

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