According to a market report by Lucintel, the future of the smart lighting fixture market looks promising with opportunities in commercial and residential applications. The global smart lighting fixture market is expected to reach an estimated $3.3 billion by 2028 with a CAGR of 5.4% from 2023 to 2028. The major drivers for this market are growing demand for low energy consuming bulbs and increasing adoption of fixtures in the smart homes for their comfort dim capabilities and compatibility with smart devices.
In this market, offline and online are the two distribution channel segments. Lucintel forecasts that offline will remain the larger distribution channel segment over the forecast period because specific advices from experts help in choosing the best products at offline places.
Within this market, commercial is expected to remain the larger application segment due to an increase in he number of malls, offices, hospitals, and retail outlets and growing government support for the adoption of energy-efficient products in commercial areas.
APAC will remain the largest region due to the growing trend of smart cities, increasing inclination towards technologically advanced systems, and high demand for smart lights that save energy in the region.
Acuity Brands, Lutron Electronics, Zumtobel Group, Leviton Manufacturing, and OSRAM GmbH are the major suppliers in the global smart lighting fixture market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global smart lighting fixture market by lighting type, application, distribution channel, and region. Lucintel has compiled a comprehensive research report entitled “Growth Opportunities in the Global Smart Lighting Fixture Market 2023-2028: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global smart lighting fixture market by lighting type, application, distribution channel, and region, as follows:
Smart Lighting Fixture Market by Lighting Type [Value ($B) Shipment Analysis from 2017 to 2028]:
Light Emitting Diode (LED)
Fluorescent Light
Compact Fluorescent Lamps (CFL)
High Intensity Discharge (HID) Lamps
Plasma Lamp
Smart Lighting Fixture Market by Application [Value ($B) Shipment Analysis from 2017 to 2028]:
Smart Lighting Fixture Market by Distribution Channel [Value ($B) Shipment Analysis from 2017 to 2028]:
Smart Lighting Fixture Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:
North America
Europe
Asia Pacific
The Rest of the World
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.
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This report answers the following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the global smart lighting fixture market by lighting type (light emitting diode, fluorescent light, compact fluorescent lamps, high intensity discharge lamps, and plasma lamps), application (commercial and residential), distribution channel (offline and online), 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 five years and what has its impact been on the industry?