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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:
- What is Smart Lighting Market?
- What is the forecast period of the Smart Lighting Market?
- What is the competitive scenario of the Smart Lighting market?
- Which region held the largest market share in the Smart Lighting Market?
- What are the opportunities for the Smart Lighting Market?
- What are the restraining factors in the Smart Lighting market?
- Who are the key players of the Smart Lighting market?
Key offerings:
- Market Share, Size, and Forecast by Revenue|2022-2029
- Market Dynamics- Growth drivers, Restraints, Investment Opportunities, and key trends
- Market Segmentation: A detailed analysis by Smart Lighting
- Landscape- Leading key players and other prominent key players.
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Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include science and engineering, electronic components, industrial equipment, technology, and communication, cars, and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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Smart Lighting Market
The smart lighting market is witnessing increasing revenue growth. With its
versatility and lower energy conservation, smart lighting systems allow users
to customize illumination based on their personal needs. The market growth
attributes to the vast popularity smart lights are garnering nowadays due to
their convenience and cost-saving operations.
Moreover, advantages such as reduced energy usage, enhanced security, long
life span, and easy customization options increase the smart lighting market
share. Subsequently, the market is expected to garner significant traction
worldwide. In this regard, a leading research firm, Market Research Future
(MRFR), asserts that the global smart lighting market
is poised to reach an approximate valuation of USD 25 billion by 2027, growing
at a whopping CAGR of 27% throughout the review period (2017-2027).
As people continue to spend more time at home due to COVID 19 lockdowns,
smart lighting solutions are witnessing the increasing potential of catering to
changing consumer needs of elevating ambiance of comfort and convenience.
Keeping this in mind, industry players are bringing up their latest innovation
and new product launches, offering immense choices of lighting solutions with
the latest Wi-Fi and Bluetooth-enabled LED lamps.
Conversely, high installation costs and lack of expertise are major factors
expected to hinder the market growth. Smart lighting fixtures are costlier than
regular fluorescent / LED bulbs. Nevertheless, smart light's benefits that
invariably surpass initial investment over time would support the market growth
throughout the forecast period, posing smart lighting as a cost-saving option.
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Smart Lighting Market - Segmentation
The report is segmented into six dynamics;
By Type
: Smart Bulbs, Fixtures, and Lighting Control.
By Light Source : Fluorescent Light
Source, LED Light Source, HID Light Source, and other Light Sources.
By Communication Technology: Wired and Wireless
Communication Technologies
By Software & Service: Smartphone Applications,
Lighting As-A-Service, and others.
By Application : Indoor and Outdoor
Lighting.
By Regions
: Europe, Americas, Asia Pacific, and
the Rest-of-the-World.
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Smart Lighting Market - Regional Analysis
Europe dominates the global smart lighting market. The largest market share
attributes to the increased adoption of smart lights as an energy-efficient
lighting solution. Besides, the resurging economy has been influential for the
market growth, increasing consumer purchasing power.
Vast advances in sensing technology and improved technical infrastructure in
the region drive the size of the market. Moreover, the extensive uptake of
smart lighting systems for connected street and parking lights in residential
and industrial sectors influences the market share.
North America holds the second position in the global smart lighting market.
The market growth is driven by the augmenting demand for smart lighting systems
from the automotive and transport sectors. Additionally, increased adoption of
smart lighting systems and favorable government policies bolster the market
growth. Significant technological advances and increased investments in
developing wireless technology substantiate the region's market share.
The smart lighting market in the Asia Pacific region has emerged as a
profitable market. The region has been attracting foreign investors with its
raw material advantage and the availability of cost-competitive workforces,
impacting the region's market share.
Furthermore, factors such as the increasing uptake of smart LED street
lights and government initiatives to improve infrastructure boost the market
growth. Moreover, the rapid economic growth in the region increases the market
size, increasing consumer purchasing power.
Smart Lighting Market - Competitive Analysis
Highly competitive, the Smart Lighting market appears fragmented due to the
presence of several well-established players. To gain a larger competitive
share, industry players incorporate strategic initiatives such as mergers &
acquisitions, collaborations, expansion, and product/ technology launch.
Major Players:
Players leading the global smart lighting market include Osram GmbH
(Germany), Koninklijke Philips N.V. (Netherland), Lutron Electronics Co. Inc.
(U.S.), Daintree Networks (U.S.), Legrand S.A. (France), Bridgelux (U.S.),
Streetlight Vision (France), Echelon Corporation (U.S.), Honeywell (U.S), and
Zumtobel (Austria), among others.
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Since it may easily be integrated into the civic infrastructure or the IT network of a building to convey data about the operation's state, smart lighting is sometimes referred to as connected lighting.
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.
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Market Scope:
The Smart Lighting market is predicted to develop at a quicker rate during the forecast period 2021-2027. Supply and demand trends, costs, pricing, shares, volumes, sales, and gross margins are among the findings of Maximize Market Research (MMR). Each manufacturer's manufacturing unit, capacity, production, factory price, market price, and market share are evaluated using MMR data.
Smart Lighting Market Overview:
This report's sole purpose is to estimate the Smart Lighting market. The MMR Smart Lighting Market Research Report investigates and analyses global trade statistically. It looks into the most important Smart Lighting market trends, limits, opportunities, success constraints, problems, and issues. The market is further divided into regions, with predictions for significant countries in each, such as Asia Pacific, North America, and Europe (ROW). We make the most of the data obtained and analysed by Maximize market research for this extensive industrial study of the Smart Lighting business by utilising secondary sources such as encyclopaedias, directories, and databases. There are no relevant industry or supplier specialists participating as a significant source of information for gathering and validating vital data for assessing the market's future prospects.
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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.
This MMR report contains comprehensive information on the Smart Lighting market's leading participants. Annual Corporate Revenue, Smart Lighting Corporate Market Share, Corporate Business Strategy, Corporate SWOT Analysis, PESTEL Analysis, and Recent Corporate Development are all examples of corporate revenue.
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Regional Analysis:
The MMR Smart Lighting Market Report covers North America, Asia Pacific, Europe, Latin America, the Middle East, and Africa. MMR focuses on main market segments and sub segments, as well as key market sectors, in this Smart Lighting market study. The MMR survey ranks innovative countries in district development based on market share, volume, and market size. Volume, area, income, the marketplace chain system, and trends are all indicators.
COVID-19 Impact Analysis on Smart Lighting Market:
Between 2020 and 2021, the COVID-19 Rule had a significant impact on global, industry, and labour expectations. COVID-19 is a threat to society and level of living that requires quick industrial help and innovation. COVID-19 causes a slew of problems for Indian expats. Millions of migrant workers have lost their jobs as a result of embargoes, food shortages, and fear about the future.
MMR research aims to improve understanding of the current economy, COVID-19, and its impact on the commercial market in general. In most industries, sectors, and disciplines, COVID-19 is followed by MMR. Maximize Market Research can assist you in determining the impact of COVID-19 on your industry.
Key Questions answered in the Smart Lighting Market Report are:
- Which product segment grabbed the largest share in the Smart Lighting market?
- How is the competitive scenario of the Smart Lighting market?
- Which are the key factors aiding the Smart Lighting market growth?
- Which region holds the maximum share in the Smart Lighting market?
- What will be the CAGR of the Smart Lighting market during the forecast period?
- Which application segment emerged as the leading segment in the Smart Lighting market?
- Which are the prominent players in the Smart Lighting market?
- What key trends are likely to emerge in the Smart Lighting market in the forecast period?
- What is the expected Smart Lighting market size by 2027?
- Which company held the largest share in the Smart Lighting market?
About Us:
Maximize Market Research provides B2B and B2C research on 12000 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defence and other manufacturing sectors.
Contact Us:
MAXIMIZE MARKET RESEARCH PVT. LTD.
3rd Floor, Navale IT Park Phase 2,
Pune Bangalore Highway,
Narhe, Pune, Maharashtra 411041, India.
Email:sales@maximizemarketresearch.com
Phone No.: +91 20 6630 3320
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