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 increased use of smart technologies has improved smart lighting technology. The software-based smart lights are simple to manage from a distance. Light switches that are used now are no longer necessary thanks to this technology. These technical developments are increasing the global market for smart lighting. Sales of smart lighting are being boosted by advancements in powerful Wi-Fi connectivity modules and improved LED drivers. During the anticipated time frame, the market statistics will improve due to the rising need for smart lighting to improve building appearance. To know about the Research Methodology:-Request Free Sample Report The report has covered the market trends from 2017 to forecast the market through 2029. 2021 is considered a base year. Special attention is given to 2021 and the effect of lockdown on the demand and supply, and also the impact of lockdown for the next two years on the market. Some companies have done well in lockdown also and a specific strategic analysis of those companies is done in the report.
Smart Lighting Market Dynamics:Smart lighting is also known as connected lighting since it may be effortlessly incorporated into the city infrastructure or IT network of a building to transmit information about the operation's state. For instance, smart street lights that connect to IoT devices ensure safety by providing extensive coverage, environmental monitoring, information on parking and traffic management, and municipal surveillance. Smart lights frequently have sensors built-in, making them a point of intelligence for gathering data on activity patterns, sunshine levels, occupancy, temperature changes, or humidity. For government agencies to respond appropriately and keep an eye out for suspicious conduct, they need this information to monitor the city. Lighting devices that are Internet-connected or "smart" are vulnerable to hacker attacks. Those repercussions might be very serious. For instance, a hacker can use remote access to a wireless network to control smart lighting, door unlocking, security camera, and other equipment. Similar to this, someone who gained access to a home's smart systems might take over its management, opening doors, watching cameras, and turning them off. Additionally, a burglar has the ability to remotely turn off the lights in public spaces like hospitals and other buildings, with potentially disastrous results. Therefore, the primary issues for smart lighting systems are security and privacy. Future market growth is anticipated to be further fueled by improved IEEE standards. Emerging APAC nations like China, India, and Japan are driving demand for smart lighting solutions for commercial applications. The "US-India Climate and Clean Energy Agenda 2030 Partnership," which will be focused on advancing urgent progress in this crucial decade for climate action, will be launched by the US and India in April 2021. India and the US have both established challenging goals for clean energy and climate action for the year 2030. The Indian market for smart lighting will benefit from this. There are numerous sizable unexplored markets in APAC that could be advantageous for the industry. In the UAE, Israel, and Qatar—all of which have experienced consistent growth in the infrastructure and real estate sectors—the market for smart lighting is currently seeing tremendous growth. The UAE has also modernised the lighting equipment in shopping malls, retail stores, and other commercial projects in addition to installing smart lighting systems in significant portions of city streets.
Smart Lighting Market segment analysis:Based on Communication Channel, wireless connectivity segment held largest market share of xx% in 2021. Consumers who require connections within a short distance strongly choose wireless connectivity in a smart lighting environment, making it the market category with the largest growth over the forecast period. Lighting fixtures are connected with smartphone apps via wireless technology such Wi-Fi, Bluetooth, SmartThings, Z-Wave, or ZigBee. For aesthetic reasons in a small space, the residential industry has heavily embraced wireless technology to regulate the colour and tint of luminaires. Based on End User, indoor lighting segment held largest market share of xx% in 2021. due to the growing popularity of smart lighting fixtures and bulbs that the user may regulate to create various lighting moods. The need to control lighting usage is another factor driving demand for commercial and industrial space, as offices and warehouses need to be operational around-the-clock and require consistent power both during the day and at night. Installing intelligent lighting with built-in sensors ensures that lights are only utilised where they are needed based on the movement of people that the sensors record. Additionally, depending on the outside lighting inside the building, the light setting might automatically reduce.
Smart Lighting Market Regional Insight:The Europe region held largest market of xx% in 2021. Europe is setting the bar for developing performance and safety standards for specific indoor commercial smart lighting for parking lots, roads, and garages. In keeping with the ongoing developments in LED designs and technology, dedicated LED luminaires and LED replacement smart lamps are emerging as the important growth areas in the lighting industry. Existing manufacturers are diversifying their product lines in order to enter the market, while established smart lighting manufacturers are regularly updating their product offers. For applications including downlighting, task lighting, landscape lighting, general ambient illumination, and outdoor general area lighting, a growing excess of dedicated smart luminaire vendors can be recognised. Due to the increasing demand from the commercial and residential application categories, Asia Pacific is expected to become a significant region. China is expected to become the country with the highest market share globally and the highest revenue contribution. Due to their growing economies and significant investments in smart city initiatives, nations like Japan, India, and South Korea are expected to be at the forefront of the adoption of smart lighting. The shifting landscape of lighting across business sectors has a significant impact on the need for smart lighting in the Asia Pacific region. An opportunity for new demand for smart lighting is being created by the growth of commercial building construction for office, retail, and entertainment purposes. The objective of the report is to present a comprehensive analysis of Smart Lighting market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Smart Lighting market dynamics, and structure by analyzing the market segments and projects Smart Lighting market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in Smart Lighting market make the report investor’s guide.
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Global Smart Lighting Market Report Coverage Details Base Year: 2021 Forecast Period: 2022-2029 Historical Data: 2017 to 2021 Market Size in 2021: US $ 10.9 Bn. Forecast Period 2022 to 2029 CAGR: 20.6 % Market Size in 2029: US $ 48.78 Bn. Segments Covered: by Offering • Hardware • Software • Services by Installation Type • New Installations • Retrofit Installations by Communication Channel • Wired • Wireless by End-User • Indoor • Outdoor
Smart Lighting Market, by Region• North America • Europe • Asia Pacific • The Middle East and Africa • South America
Smart Lighting Market 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 Frequently Asked Questions: 1. Which region has the largest share in Smart Lighting Market? Ans: Europe region held the highest share in 2021. 2. What is the growth rate of Smart Lighting Market? Ans: Smart Lighting Market is growing at a CAGR of 20.6 % during the forecasting period 2022-2029. 3. What segments are covered in Smart Lighting market? Ans: Smart Lighting Market is segmented into Offering, installation type, communication channel, End User, and region. 4. Who are the key players in Smart Lighting market? Ans: The important key players in Smart Lighting Market are – Philips Lighting, Acuity Brands, Osram, Cree, General Electric (GE + Current), Eaton, Honeywell, Legrand, Hubbell Lighting, Zumtobel Group, Hafele Group, Lutron Electronics 5. What is the study period of this market? Ans: Smart Lighting Market is studied from 2017 to 2029.
1. Global Smart Lighting Market: Research Methodology 2. Global Smart Lighting Market: Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Global Smart Lighting Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Smart Lighting Market: Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • Latin America 3.12. COVID-19 Impact 4. Global Smart Lighting Market Segmentation 4.1. Global Smart Lighting Market, by Offering (2021-2029) • Hardware • Software • Services 4.2. Global Smart Lighting Market, by Installation Type (2021-2029) • New Installations • Retrofit Installations 4.3. Global Smart Lighting Market, by Communication Channel (2021-2029) • Wired • Wireless 4.4. Global Smart Lighting Market, by End User (2021-2029) • Indoor • Outdoor 5. North America Smart Lighting Market(2021-2029) 5.1. North America Smart Lighting Market, by Offering (2021-2029) • Hardware • Software • Services 5.2. North America Smart Lighting Market, by Installation Type (2021-2029) • New Installations • Retrofit Installations 5.3. North America Smart Lighting Market, by Communication Channel (2021-2029) • Wired • Wireless 5.4. North America Smart Lighting Market, by End User (2021-2029) • Indoor • Outdoor 5.5. North America Smart Lighting Market, by Country (2021-2029) • United States • Canada • Mexico 6. European Smart Lighting Market (2021-2029) 6.1. European Smart Lighting Market, by Offering (2021-2029) 6.2. European Smart Lighting Market, by Installation Type (2021-2029) 6.3. European Smart Lighting Market, by Communication Channel (2021-2029) 6.4. European Smart Lighting Market, by End User (2021-2029) 6.5. European Smart Lighting Market, by Country (2021-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Smart Lighting Market (2021-2029) 7.1. Asia Pacific Smart Lighting Market, by Offering (2021-2029) 7.2. Asia Pacific Smart Lighting Market, by Installation Type (2021-2029) 7.3. Asia Pacific Smart Lighting Market, by Communication Channel (2021-2029) 7.4. Asia Pacific Smart Lighting Market, by End User (2021-2029) 7.5. Asia Pacific Smart Lighting Market, by Country (2021-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. The Middle East and Africa Smart Lighting Market (2021-2029) 8.1. The Middle East and Africa Smart Lighting Market, by Offering (2021-2029) 8.2. The Middle East and Africa Smart Lighting Market, by Installation Type (2021-2029) 8.3. The Middle East and Africa Smart Lighting Market, by Communication Channel (2021-2029) 8.4. The Middle East and Africa Smart Lighting Market, by End User (2021-2029) 8.5. The Middle East and Africa Smart Lighting Market, by Country (2021-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. Latin America Smart Lighting Market (2021-2029) 9.1. Latin America Smart Lighting Market, by Offering (2021-2029) 9.2. Latin America Smart Lighting Market, by Installation Type (2021-2029) 9.3. Latin America Smart Lighting Market, by Communication Channel (2021-2029) 9.4. Latin America Smart Lighting Market, by End User (2021-2029) 9.5. Latin America Smart Lighting Market, by Country (2021-2029) • Brazil • Argentina • Rest Of Latin America 10. Company Profile: Key players 10.1. Philips Lighting 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. Acuity Brands 10.3. Osram 10.4. Cree 10.5. General Electric (GE + Current) 10.6. Eaton 10.7. Honeywell 10.8. Legrand 10.9. Hubbell Lighting 10.10. Zumtobel Group 10.11. Hafele Group 10.12. Lutron Electronics 10.13. Wipro Consumer Care and Lighting 10.14. Streetlight.Vision 10.15. Virtual Extension 10.16. Syska LED 10.17. Leviton Manufacturing 10.18. Switchmate, Inc. 10.19. Gooee 10.20. Lifx 10.21. Isotera 10.22. Ketra 10.23. Tao Light 10.24. Nualight Limited