Intelligent lighting systems are being widely touted as the future of the lighting industry. With the massive proliferation of lighting fixtures such as LEDs and others in the market, the smart lighting industry is set to dominate a plethora of applications ranging from commercial to outdoor applications. The market for global Smart Lighting is expected to reach up to $ 59.973 billion by the end of the forecasted period and is expected to grow at a CAGR of ~19-21%.
The major factors contributing to the growth of the Smart Lighting market are driven by continuously declining average selling price (asp) of led bulbs and influx of smart apps, internet of things and remote access & control by software providers.
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Global Smart Lighting Market has been segmented on the basis of lighting type which comprises of led, fluorescent lights, compact fluorescent lamps, and high intensity discharged lamps. The Smart Lighting market is further divided into components which include sensors, relays and timers, actuators and ballasts. On the basis of application which consists of commercial applications, residential applications, other applications (smart street lighting, institutional, etc.)
Key Players for Smart Lighting Market:
- Aura Lights (Sweden)
- Cree (US)
- Crompton Greaves (India)
- Digital Lumens (US)
- Eyelighting International (US)
- Ge Lighting (US)
- Havells Sylavania (India)
- Koninkiljke Philips Nv (Netherland)
- Ledzed (Finland)
- Lemnis Lighting (Netherland)
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Brief Toc for Smart Lighting Market:
1. Report Prologue
2. Global Smart Light and Control Market: Introduction
2.2 Scope of the Study
2.2.1 Research Objective
2.3 Market Structure
2.4. Market Segmentation
3. Global Smart Light and Control Market: Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Forecast Model
4. Global Smart Light and Control Market: Market Dynamics
4.4 Mega Trends
4.5 Macroeconomic Indicators
4.6 Important Pointers By Industry Experts
4.6.1 Fastest Growing Market
4.6.2 Growth Prospects
5. Global Smart Light and Control Market: Market Factor Analysis
5.1 VALUE CHAIN ANALYSIS
The Europe Smart Lighting market is expected to report the highest CAGR during the forecasted period among all the regions; whereas, Asia Pacific will remain the largest market in 2021.
By application of Smart Lighting, the commercial applications are expected to witness highest CAGR during the forecasted period.
In terms of components, sensors had the largest share in the global Smart Lighting market, and it is expected to grow at the highest CAGR among all the materials during the forecast period.
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