According to a market report by Lucintel, the future of the smart outdoor lighting market looks promising with opportunities in residential and commercial applications. The global smart outdoor lighting market is expected to reach an estimated $2.0 billion by 2028 with a CAGR of 8.5% from 2023 to 2028. The major drivers for this market are increasing government initiatives for energy conservation, growing demand for IoT based street lights in smart cities, and rising demand for energy efficient lighting to conserve energy, lower the maintenance costs, regulate light intensity, and cut carbon emissions.
In this market, offline and online are the two distribution channel segments. Lucintel forecasts that offline will remain the larger distribution channel segment over the forecast period because it enables customers to select products based on their preferences by physically inspecting them.
Within this market, commercial is expected to remain the larger application segment due to increase in commercial construction activity along with infrastructural improvement in the hospitality sector.
North America will remain the largest region due to the increasing interest in changing outdoor landscape lighting in response to the ongoing practice of hosting family and friends for dinner or other events in the backyard or front yard garden.
Signify Holding, General Electric, OSRAM GmbH, Hubbell, and Acuity Brands are the major suppliers in the global smart outdoor lighting market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global smart outdoor lighting market by source, distribution channel, application, and region. Lucintel has compiled a comprehensive research report entitled “Growth Opportunities in the Global Smart Outdoor Lighting Market 2023-2028: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global smart outdoor lighting market by source, distribution channel, application, and region, as follows:
Smart Outdoor Lighting Market by Source [Value ($B) Shipment Analysis from 2017 to 2028]:
LED Lights
Plasma Lamps
High-Intensity Discharge Lamps
Fluorescent Lights
Smart Outdoor Lighting Market by Distribution Channel [Value ($B) Shipment Analysis from 2017 to 2028]:
Smart Outdoor Lighting Market by Application [Value ($B) Shipment Analysis from 2017 to 2028]:
Smart Outdoor Lighting 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 outdoor lighting market by source (LED lights, plasma lamps, high-intensity discharge lamps, and fluorescent lights), distribution channel (offline and online), application (residential and commercial), 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?