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Smart Lighting Market was valued at US$ 10.9 Bn. in 2021 and is expected to reach US$ 48.78 Bn. by 2029, at a CAGR of 20.6 % during a forecast period.
Smart Lighting Market Overview
Smart Lighting Market Report includes the current state of the market in terms of the classifications, applications, and industry chain structure. The Smart Lighting market report gives information on the leading businesses functioning in the Smart Lighting industry's, strategic ambitions and company growth strategies. Mergers and acquisitions, government and corporate transactions, partnerships and collaborations, joint ventures, brand promotions, and product launches are among the methods evaluated in the research of Smart Lighting market.
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Smart Lighting Market Scope
The size of the Smart Lighting market in various divisions and areas is included in the report, including Market dynamics shifting from 2023 to 2029. The latest trends in the Smart Lighting industry related to the product price, Recent market developments over the years. In-depth regional analysis, Strategies for development implemented by major players and company profiling based on business models is included in the Smart Lighting market report. PESTLE and Porter five analysis is conducted to evaluate the market conditions.
Segmentation
The wireless connection segment had the biggest market share of % in 2021, according to the communication channel. In a smart lighting environment, consumers who need connections within a short distance significantly prefer wireless connectivity, making it the market category with the largest growth over the forecast period. With the help of wireless technologies like Wi-Fi, Bluetooth, SmartThings, Z-Wave, or ZigBee, lighting fixtures can be connected to smartphone apps. The home lighting market has adopted wireless technology aggressively to control the colour and tint of luminaires for aesthetic purposes in small spaces.
Due to the rising popularity of smart lighting fixtures and bulbs that users can control to create different lighting moods, the indoor lighting category held the greatest market share of % in 2021, according to End Users. Another issue increasing demand for commercial and industrial space is the requirement to regulate lighting usage, as offices and warehouses need to be open 24/7 and require steady electricity during the day and at night. When intelligent lighting with built-in sensors is installed, only the areas where lights are actually needed are illuminated in response to the movement of people that the sensors detect. Additionally, the light setting may automatically dim based on the exterior lighting inside the structure.
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Key Players
• Philips Lighting
• Acuity Brands
• Osram
• Cree
• General Electric (GE + Current)
• Eaton
• Honeywell
• Legrand
• Hubbell Lighting
• Zumtobel Group
• Hafele Group
• Lutron Electronics
• Wipro Consumer Care and Lighting
• Streetlight.Vision
• Virtual Extension
• Syska LED
• Leviton Manufacturing
• Switchmate, Inc.
• Gooee
• Lifx
• Isotera
• Ketra
• Tao Light
• Nualight Limited
Smart Lighting Market Regional Analysis
The research report gives a detailed analysis of the Smart Lighting market that is divided into regions. The report includes an evaluation of regional market participants operating in the competitive market, as well as findings existing in the target market. Based on the regional and country-by-country, the research evaluates the market in North America, Latin America, Europe, Asia Pacific (APAC), Africa, and the Middle East. Each regional market is thoroughly analysed, which allows discovery of regional Smart Lighting market trends, constraints, and growth potential.
Key Questions answered in the Smart Lighting Market Report are:
Key offerings:
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