According to a new market report published by Lucintel, the future of the smart lighting market looks promising with opportunities in the residential and commercial sector. The smart lighting market is expected to reach an estimated $21.7 billion by 2027 with a CAGR of 13% from 2022 to 2027. The major drivers for this market are development of smart cities, increasing wireless technology, and increasing awareness towards energy saving.
Browse 108 market data tables and 103 figures spread through 195 pages and in-depth TOC on “Global Smart Lighting Market"
In this market, smart bulb, fixture, and control system such as ballasts, switches & dimmer actuators, sensors, microcontrollers, and transmitters are used for smart lighting. Lucintel forecast that the control system is expected to remain the largest segment due to growth in home automation and to improve energy efficiency. Lucintel predicts that the demand for smart bulb is likely to experience the highest growth in the forecast period supported by growing demand for wireless technologies in smart cities.
Within the smart lighting market, light emitting diodes (LEDs) is expected to remain the largest market and is also expected to witness the highest growth over the forecast. Increasing penetration due to the declining cost of LEDs, low maintenance and high energy efficiency is expected to spur the growth of this segment over the forecast period.
Europe is expected to remain the largest market due to the growing standard of living and increasing automation in Germany, France, and the United Kingdom building and construction industries. Asia Pacific is expected to witness highest growth over the forecast period because of increasing government focus towards the growth in infrastructure and development of smart lighting in China and India.
Emerging trends, which have a direct impact on the dynamics of the industry, include growing demand for IoT technology in the smart lighting system and emergence of light fidelity (Li-Fi) technology in the field of smart lighting. Zumtobel Group, CREE Inc, AMS, Signify N.V., Savant Systems, Inc., SemiLEDs Corporation are among the major smart lighting manufacturers.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global smart lighting market by product types, light source, communication technology, application, and region. Lucintel has prepared a comprehensive research report entitled “Growth Opportunities in the Global Smart Lighting Market 2022-2027: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global smart lighting market by product types, light source, communication technology, application, and region as follows:
By Product Type [Value ($M) shipment analysis for 2016 – 2027]:
•Smart Bulbs
•Fixtures
•Control Systems
–Drivers and ballasts
–Switches and dimmers actuators
–Sensors
–Microcontrollers
–Transmitters and receivers
By Light Source [Value ($M) shipment analysis for 2016 – 2027]:
•Light Emitting Diode
•Fluorescent Lamps
•High-Intensity Discharge Lamps
•Others
By Communication Technology [Value ($M) shipment analysis for 2016 – 2027]:
•Wired
–Digital Addressable Lighting Interface
–Powerline Communication
–Power Over Ethernet
–Wired Hybrid Protocols
–Others
•Wireless
–Zigbee
–Bluetooth
–Enocean
–Wi-Fi
–Others
By Application [Value ($M) shipment analysis for 2016 – 2027]:
•Indoor Lighting
–Commercial
–Industrial
–Residential
–Others
•Outdoor Lighting
–Highway & Roadway Lighting
–Architectural Lighting
–Lighting for Public Place
–Others
By Region [Value ($M) shipment analysis for 2016 – 2027]:
•North America
oUnited States
oCanada
oMexico
•Europe
oUnited Kingdom
oGermany
oFrance
•Asia Pacific
oChina
oJapan
oIndia
oSouth Korea
•The Rest of the World
This 195-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/smart-lighting-market.aspx or write us at helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers following 11 key questions:
Q.1 What are some of the most promising potential, high growth opportunities for the global smart lighting market by product type (smart bulbs, fixtures, control systems), light source (light emitting diode, fluorescent lamps, high-intensity discharge lamps, and others), application (indoor lights and outdoor lights), communication technology (wired and wireless), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to the market?
Q.6 What are the emerging trends in this market and the reasons behind them?
Q.7 What are the changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M & A activities have taken place in the last 5 years in this market?