Consumer & Retail

According to a market report by Lucintel, the future of the smart LED lighting market looks promising with opportunities in the online and offline channels. The global smart LED lighting market is expected to reach an estimated $9.2 billion by 2028 with a CAGR of 3.1% from 2023 to 2028. The major drivers for this market are escalating need for LED lights with numerous integrated advanced features and presence of numerous wireless and wired-based LED alternatives to customers.

In this market, wired and wireless are the two types of smart LED lighting used by various end use industries. Lucintel forecasts that wired is expected to witness higher growth over the forecast period due to its enormous demand in commercial and industrial locations for its ease of installation, low cost of maintenance, and low risk of failure.



Within this market, offline is expected to witness higher growth over forecast period due to the increasing preference for offline purchases since they allow for the comfort of receiving after-sale services and appropriate help while making purchases.



Europe will remain the largest region due to the increasing trend for the integration of luxury home decoration and rising awareness towards the aesthetic appeal of the products.

Wolfspeed, Eaton, Koninklijke Philips, ABB, and Wipro are the major suppliers in the global smart LED lighting market.  



Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global smart LED lighting market by product type, technology, distribution channel, and region. Lucintel has compiled a comprehensive research report titled “Growth Opportunities in the Global Smart LED Lighting Market 2023-2028: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global smart LED lighting market by product type, technology, distribution channel, and region, as follows:

This more than 150-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 email us at helpdesk@lucintel.com.

 

Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. Lucintel 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.

 

Q.1. What are some of the most promising, high-growth opportunities for the smart LED lighting market by product type (wired and wireless), technology (hybrid, dali, Wi-Fi, bluetooth, and zigbee), distribution channel (online and offline), 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 region will grow at a faster pace and why?

Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?

Q.5. What are the business risks and competitive threats in this market?

Q.6. What are the emerging trends in this market and the reasons behind them?

Q.7. What are some of 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 key players pursuing for business growth?

Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?

Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?