Global Smart Lighting Market to Reach USD 77.6 Billion by 2033, Propelled by Increasing Development of Smart Cities

December 05, 2024 | Electronics and Semiconductors

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The latest report by IMARC Group, titled "Smart Lighting Market Report by Offering (Hardware, Software, Services), Communication Technology (Wired Technology, Wireless Technology), Installation Type (New Installation, Retrofit Installation), Light Source (LED Lamps, Fluorescent Lamps, Compact Fluorescent Lamps, High Intensity Discharge Lamps, and Others), Application (Commercial, Residential, Public Infrastructure, and Others), and Region 2025-2033," finds that the global smart lighting market size reached USD 19.1 Billion in 2024. Smart lighting is an advanced technology designed to efficiently use light resources. It provides a range of automated control options that allow users to adjust their lighting based on occupancy or available natural light. It is used in homes, businesses, and industrial settings and has a touchscreen control panel and a smartphone app for convenient control. In addition, it allows users to adjust the color and brightness of fixtures from any location. Owing to these properties, smart lighting is gaining traction over conventional lighting, such as incandescent bulbs, halogens, and CFLs.

Global Smart Lighting Market Trends:

The market is primarily driven by the increasing development of smart cities across the globe. In addition, the escalating demand for energy-efficient lighting systems that offer improved lighting and consume less power is contributing to the market growth. Besides this, with rapid urbanization and infrastructure development, consumers prefer advanced and flexible lighting options over traditional, power-consuming lights. This, coupled with the declining cost of smart lights, making them more accessible to consumers, represents another major growth-inducing factor. Moreover, various technological advancements, including the integration of wireless and sensor technology in lighting systems, are also creating a favorable market outlook across the globe. Looking forward, IMARC Group expects the market value to reach USD 77.6 Billion by 2033, exhibiting a CAGR of 16.8% during the forecast period (2025-2033).

Market Summary:

On the basis of the offering, the market has been segmented into hardware (lights and luminaries, and lighting controls), software, and services (design and engineering, installation, and post-installation).
Based on communication technology, the market has been classified into wired and wireless technology.
On the basis of the installation type, the market has been bifurcated into new and retrofit installation.
Based on the light source, the market has been segmented into LED, fluorescent, compact fluorescent, high-intensity discharge, and other lamps.
On the basis of the application, the market has been segregated into commercial, residential, public infrastructure, and others.
Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Russia, Spain, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa.
The competitive landscape of the market has been examined in the report, with some of the key players being Acuity Inc., ams-OSRAM AG, EGLO Leuchten GmbH, GE Lighting (Savant Systems, Inc.), Legrand, Lutron Electronics Co., Inc., Nanoleaf, Sengled GmbH, Signify Holding, Virtual Extension, Yeelight Global, etc.

Report Coverage:

Report Features	Details
Base Year of the Analysis	2024
Historical Period	2019-2024
Forecast Period	2025-2033
Units	Billion USD
Segment Coverage	Offering, Communication Technology, Installation Type, Light Source, Application, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	Acuity Inc., ams-OSRAM AG, EGLO Leuchten GmbH, GE Lighting (Savant Systems, Inc.), Legrand, Lutron Electronics Co., Inc., Nanoleaf, Sengled GmbH, Signify Holding, Virtual Extension, Yeelight Global, etc.
Customization Scope	10% Free Customization
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Smart Lighting Market to Reach USD 77.6 Billion by 2033, Propelled by Increasing Development of Smart Cities

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