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North America Smart Lighting Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Report Format: PDF+Excel | Report ID: SR112023A1709
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Market Overview:
The North America smart lighting market size reached US$ 5.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 13.9 Billion by 2028, exhibiting a growth rate (CAGR) of 17.8% during 2023-2028.
Smart lighting is an energy-efficient lighting solution with power saving features and automated controls for smooth operations. This technology enables the user to change the light intensity depending on parameters, such as occupancy or daylight availability. Smart lighting system is rapidly replacing traditional lighting solutions as it is economical, sustainable and draws lesser power. It is also accessible through smartphone applications, which makes it easy for the user to control. This lighting system has enabled real-time illumination monitoring, intelligent sensing and improvement in connected lighting technology. Further, the evolution of big data and the internet of things (IoT) has improved the integration of smart lighting with other automated systems used in smart homes.
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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North America smart lighting market is currently being driven by several factors. The shelf life of smart light is very high, which reduces the need to change the light at regular intervals, as in the case of traditional lights. Owing to this, the market is currently witnessing an increasing acceptance among consumers, thereby catalyzing the market growth in the region. In addition to this, the continuous technological advancements in the design and manufacturing of smart lighting systems have increased their power efficiency and expanded their applications across several sectors. Furthermore, the high per capita incomes of the consumers have enabled them to invest in improved technologies, such as smart lighting.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the North America smart lighting market report, along with forecasts at the regional and country level from 2023-2028. Our report has categorized the market based on offering, communication technology, installation type, light source and application.
- Key Regions Analysed
- United States
- Canada
- Mexico
- Analysis for Each Country
- Market by Offering
- Hardware
- Lights and Luminaires
- Lighting Controls
- Software
- Services
- Design and Engineering
- Installation
- Post-Installation
- Hardware
- Market by Communication Technology
- Wired Technology
- Wireless Technology
- Market by Installation Type
- New Installation
- Retrofit Installation
- Market by Light Source
- LED Lamps
- Fluorescent Lamps
- Compact Fluorescent Lamps
- High Intensity Discharge Lamps
- Others
- Market by Application
- Commercial
- Residential
- Public Infrastructure
- Others
- Value Chain Analysis
- Key Drivers and Challenges
- Porters Five Forces Analysis
- PESTEL Analysis
- Government Regulations
- Competitive Landscape
- Competitive Structure
- Key Player Profiles
Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2022 |
| Historical Period | 2017-2022 |
| Forecast Period | 2023-2028 |
| Units | US$ Billion |
| Segment Coverage | Offering, Communication Technology, Installation Type, Light Source, Application, Country |
| Countries Covered | United States, Canada, Mexico |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 2699 Five User License: US$ 3699 Corporate License: US$ 4699 |
| 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) |
The North America smart lighting market was valued at US$ 5.1 Billion in 2022.
We expect the North America smart lighting market to exhibit a CAGR of 17.8% during 2023-2028.
The growing demand for energy-efficient lighting solutions, which enable automated control for smooth operations and reduce power consumption, is currently driving the North America smart lighting market.
The sudden outbreak of the COVID-19 pandemic has led to the changing consumer inclination from conventional brick-and-mortar distribution channels towards online retail platforms for the purchase of smart lights and associated components.
Based on the offering, the North America smart lighting market can be segregated into hardware, software, and services. Among these, hardware currently accounts for the largest market share.
Based on the communication technology, the North America smart lighting market has been divided into wired technology and wireless technology. Currently, wired technology exhibits a clear dominance in the market.
Based on the installation type, the North America smart lighting market can be categorized into new installation and retrofit installation, where new installation currently holds the majority of the total market share.
Based on the light source, the North America smart lighting market has been segmented into LED lamps, fluorescent lamps, compact fluorescent lamps, high intensity discharge lamps, and others. Currently, LED lamps represent the largest market share.
Based on the application, the North America smart lighting market can be bifurcated into commercial, residential, public infrastructure, and others. Among these, the commercial sector accounts for the majority of the total market share.
On a regional level, the market has been classified into United States, Canada, and Mexico, where United States currently dominates the North America smart lighting market.
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