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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Study Objectives of Smart Lighting Market:
- To provide detailed analysis of the market structure along with forecast for the next 6 years of the various segments and sub-segments of the Global Smart Lighting Market.
- To provide insights about factors affecting the market growth.
- To Analyze the Global Smart Lighting Market based on various factors- price analysis, supply chain analysis, porters five force analysis etc.
- To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, and Rest of the world.
- To provide country level analysis of the market with respect to the current market size and RoW future prospective.
- To provide country level analysis of the market for segments by lighting type, by application, by components and their sub-types.
- To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market.
- To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the Global Smart Lighting Market.
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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.
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 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)
The report for Global Smart Lighting Markets of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different markets segments and regions.
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