Press Release / Technology / Smart Lighting Market Size, Key Players, Investment Opportunities, Top Regions, Growth & Forecast by 2027

Smart Lighting Market Size, Key Players, Investment Opportunities, Top Regions, Growth & Forecast by 2027

Market Highlights:

Smart lighting technology was developed to promote energy efficiency and has been designed as such. Market Research Future has assessed the growth of the market and made several carefully calculated predictions regarding the market over the forecast period from 2017 to 2023. The global smart lighting market is expected to grow at a whopping CAGR of 27% during the review period. The market’s promising growth is expected to yield an approximate market value of USD 25 Bn by the end of 2023.

The increasing demand for energy efficiency in an increasingly environmentally conscious global scenario has resulted in significant growth of the smart lighting market. Many market players are deeply involved in the production of highly advanced smart lighting to cater to the growing demand for advanced lighting fixtures. Moreover, smart lighting is in high demand in smart cities which are increasingly being developed across the globe. Some examples of smart lighting are Philips Lightings solutions for smart lighting which include the embedding of ZigBee communication chips to reduce energy consumption by intelligently controlling the lighting. The high demand for smart lighting is the key driving factor of growth for the market. The cost-effectiveness of smart lighting solutions is also expected to boost market growth over the review period.

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Major Key Players

Koninklijke Philips N.V. (Netherland),
Osram GmbH (Germany),
Lutron Electronics Co. Inc. (U.S.),
Legrand S.A. (France),
Daintree Networks (U.S.),
Bridgelux (U.S.),
Echelon Corporation (U.S.),
Streetlight Vision (France),
Zumtobel (Austria),
Honeywell (U.S)
According to MRFR, The global Smart Lighting Market is expected to grow at a CAGR of approximately 27% during the forecast period 2017-2027.

Regional Analysis:

Regions such as Asia Pacific, North America, Europe, and the Rest of the World have been analyzed for MRFR’s assessment of the global smart lighting market. Among these, the European market has captured the largest share of the market while the Asia Pacific is expected to grow at the fastest pace during the forecast period. Europe has several leading market players who are involved in technological advancements and are also increasing investments in the region with regards to the modernization of existing infrastructure. The European market displays a forward-thinking approach with regards to resource conservation and minimizing the carbon footprint. Europe is followed by North America.

The Asia Pacific is a rapidly growing market with a large population and a rapidly expanding industrial and commercial sector. The APAC region consumes high volumes of electricity which has prompted the promotion of smart lighting. Many cities in the region are on the way to becoming smart cities, which is likely to help develop the global market even further.

Market Segmentation:

The global smart lighting market has been segmented on the basis of component, product type, communication technology, application, and regions. Components of smart lighting have been segmented into software and service.

Product type has been largely divided into luminaries, lighting controls, and light source. Luminaries have been further segmented into smart bulbs and fixtures. Lighting controls have been further segmented into switches & dimmers, sensors, relay units, gateways, LED drivers & ballasts. Light source has been further divided into fluorescent lamps, light emitting diode, and high-intensity discharge lamps.

Communication technology has been broadly segmented into wired, and wireless. Wired communication technologies have been segmented further into power line communication, power over ethernet, digital addressable lighting interface, wired hybrid protocols, and others. Wireless communication technologies have been segmented into 6lowpan, Bluetooth, ZigBee, WiFi, Enocean, wireless hybrid protocols, and others.

Applications have been segmented into indoor lighting and outdoor lighting. Indoor lighting has been subdivided into residential, commercial, industrial, and others. Meanwhile, the outdoor lighting segment has been subdivided into architectural lighting, lighting at public places, highways & roadways lighting, and others.

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Intended Audience

Technology Investors
Research/Consultancy firms
Technology Solution Providers
Original Equipment Manufacturers
Residential end-users
Commercial end-users
Industrial end-users
Government bodies
LIST OF TABLES

Table 1 Global Smart Lighting Market: By Region, 2017-2027

Table 2 North America Smart Lighting Market: By Country, 2017-2027

Table 3 Europe Smart Lighting Market: By Country, 2017-2027

Table 4 Asia-Pacific Smart Lighting Market: By Country, 2017-2027

Table 5 Rest of the World Smart Lighting Market: By Country, 2017-2027

Table 6 Latin America Smart Lighting Market: By Country, 2017-2027

Continued……

LIST OF FIGURES

FIGURE 1 Global Smart Lighting Market segmentation

FIGURE 2 Forecast Methodology

FIGURE 3 Five Forces Analysis of Global Smart Lighting Market

FIGURE 4 Value Chain of Global Smart Lighting Market

FIGURE 5 Share of Global Smart Lighting Market in 2017, by country (in %)

Continued……

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