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The global smart lighting market reached a value of US$ 11.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 35.5 Billion by 2027, exhibiting at a CAGR of 21.5% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
Smart-lighting is a technology designed for efficient use of light resources with power saving fixtures and automated controls. This enables the user to adjust ambient lighting depending upon the occupancy or daylight availability. Smart-lighting products have applications in commercial, industrial and residential sectors and usually consists of a wall keypad and touchscreen panel. The lightings are also accessible through a smartphone application, making them easily controllable. Additionally, smart lighting systems enable users to change the colour and brightness of fixtures from anywhere around the globe. Smart lighting are an essential tool in smart-city development, since globally a significant number of public lamps run on high-intensity bulbs that use mercury and other material to operate, having detrimental effects on the environment.
The growth of the global smart-lighting market is primarily driven by the high demand of energy efficient lighting systems that provide better illumination while consuming less power. Additionally, factors such as modernization and development of infrastructure has facilitated the transformation of cities into smart-cities that has supported the growth of the smart lighting market. Individuals living in urban sectors prefer to invest in modular and intelligent lighting solutions instead of buying high-energy consuming lights. Moreover, the growing demand for lighting systems equipped with wireless and sensor technology has further favoured the growth of the market. Global plans for pooling lighting network with low power consuming sensors and lowering costs of previously expensive LEDs has also led to the market growth. Moreover, as a result of declining prices, smart-lights have also become affordable to the general population.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global smart lighting market, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on offering, communication technology, lnstallation type, light source and application.
Breakup by Offering:
Breakup by Communication Technology:
Breakup by Installation Type:
Breakup by Light Source:
Breakup by Application:
Breakup by Region:
The report has also analysed the competitive landscape of the market with some of the key players being Philips Lighting, Acuity Brands, Osram, Cree, General Electric Company, Eaton, Honeywell, Legrand, Hubbell Lighting, Zumtobel Group, Hafele Group, Lutron Electronics, Wipro Consumer Care and Lighting, Streetlight.Vision, Virtual Extension, Syska LED, etc.
IMARC Group’s latest report provides a deep insight into the global smart lighting market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the global smart lighting market in any manner.
|Base Year of the Analysis||2021|
|Segment Coverage||Offering, Communication Technology, Installation Type, Light Source, Application, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Companies Covered||Philips Lighting, Acuity Brands, Osram, Cree, General Electric Company, Eaton, Honeywell, Legrand, Hubbell Lighting, Zumtobel Group, Hafele Group, Lutron Electronics, Wipro Consumer Care and Lighting, Streetlight.Vision, Virtual Extension and Syska LED|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2299
Five User License: US$ 3399
Corporate License: US$ 4499
|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 global smart lighting market was valued at US$ 11.2 Billion in 2021.
We expect the global smart lighting market to exhibit a CAGR of 21.5% during 2022-2027.
The growing adoption of energy-efficient smart lighting systems across the commercial, industrial, and residential sectors to reduce carbon footprints is currently catalyzing the global smart lighting market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary closure of numerous manufacturing units and disrupted supply chains for smart lighting components.
Based on the offering, the global smart lighting market can be segmented into hardware, software, and services. Among these, hardware currently holds the majority of the total market share.
Based on the communication technology, the global smart lighting market has been divided into wired technology and wireless technology, where wired technology currently exhibits a clear dominance in the market.
Based on the installation type, the global smart lighting market can be categorized into new installation and retrofit installation. Currently, new installation accounts for the largest market share.
Based on the light source, the global smart lighting market has been segmented into LED Lamps, fluorescent lamps, compact fluorescent lamps, high-intensity discharge lamps, and others. Among these, LED Lamps currently exhibit a clear dominance in the market.
Based on the application, the global smart lighting market can be categorized into commercial, residential, public infrastructure, and others. Currently, the commercial sector represents the majority of the global market share.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where Europe currently dominates the global market.
Some of the major players in the global smart lighting market include Philips Lighting, Acuity Brands, Osram, Cree, General Electric Company, Eaton, Honeywell, Legrand, Hubbell Lighting, Zumtobel Group, Hafele Group, Lutron Electronics, Wipro Consumer Care and Lighting, Streetlight.Vision, Virtual Extension, Syska LED, etc.
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