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Smart Indoor Lighting Market Trends and Forecast

The future of the global smart indoor lighting market looks promising with opportunities in the residential, commercial, and industrial applications. The global smart indoor lighting market is expected to reach an estimated $9.8 billion by 2028 with a CAGR of 6.3% from 2023 to 2028. The major drivers for this market are growing demand for smart lights, which require low maintenance and consume less power, rising preference for digitalized lights in smart cities, and government programs that encourage the installation of indoor smart lights.
 
Smart Indoor Lighting Market by Component, Communication Technology, Light Source, and Application
 
A more than 150-page report is developed to help in your business decisions. A sample figure with some insights is shown below. 
Smart Indoor Lighting Market by Segments

Smart Indoor Lighting Market by Segment

The study includes trends and forecast for the global smart indoor lighting market by component, communication technology, light source, application, and region, as follows:

Smart Indoor Lighting Market by Component [Value ($B) Shipment Analysis from 2017 to 2028]:

  • Hardware
  • Software
  • Services

Smart Indoor Lighting Market by Communication Technology [Value ($B) Shipment Analysis from 2017 to 2028]:

  • Wired Communication Technology
  • Wireless Communication Technology

Smart Indoor Lighting Market by Light Source [Value ($B) Shipment Analysis from 2017 to 2028]:

  • Fluorescent Lamps
  • Light Emitting Diodes (LED)
  • High Density Discharge Lamps

Smart Indoor Lighting Market by Application [Value ($B) Shipment Analysis from 2017 to 2028]:

  • Residential
  • Commercial
  • Industrial

Smart Indoor Lighting Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:

  • North America
  • Europe
  • Asia Pacific
  • The Rest of the World

List of Smart Indoor Lighting Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies, smart indoor lighting companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the smart indoor lighting companies profiled in this report include- 

Smart Indoor Lighting Market Insights

  • Lucintel forecasts that wireless is expected to witness the highest growth over the forecast period due to increasing usage of these lights in retail outlets, where Wi-Fi access point or bluetooth beacon is incorporated in the lighting fixtures, which provides push marketing, location monitoring, and customer analytics to shopkeepers.
  • Residential is expected to witness the highest growth over the forecast period due to the increasing demand for smart lights with user-friendly controls for creating various lighting moods in homes.
  • North America is expected to witness the highest growth over the forecast period due to growing digitalization and increasing trend of smart home infrastructures along with smart lights in the region.

Features of the Smart Indoor Lighting Market

  • Market Size Estimates: Smart indoor lighting market size estimation in terms of value ($B)
  • Trend And Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.
  • Segmentation Analysis: Smart indoor lighting market size by various segments, such as by component, communication technology, light source, application, and region
  • Regional Analysis: Smart indoor lighting market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
  • Growth Opportunities: Analysis on growth opportunities in different components, communication technology, light sources, applications, and regions for the smart indoor lighting market.
  • Strategic Analysis: This includes M&A, new product development, and competitive landscape for the smart indoor lighting market.
  • Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

FAQ

Q1. What is the smart indoor lighting market size?
Answer: The global smart indoor lighting market is expected to reach an estimated $9.8 billion by 2028.
Q2. What is the growth forecast for smart indoor lighting market?
Answer: The global smart indoor lighting market is expected to grow with a CAGR of 6.3% from 2023 to 2028.
Q3. What are the major drivers influencing the growth of the smart indoor lighting market?
Answer: The major drivers for this market are growing demand for smart lights, which require low maintenance and consume less power, rising preference for digitalized lights in smart cities, and government programs that encourage the installation of indoor smart lights.
Q4. What are the major segments for smart indoor lighting market?
Answer: The future of the smart indoor lighting market looks promising with opportunities in residential, commercial, and industrial applications.
Q5. Who are the key smart indoor lighting companies?
Answer: Some of the key smart indoor lighting companies are as follows:
  • Signify
  • Acuity Brands
  • Legrand
  • Lutron Electronics
  • Levitron Manufacturing Company
Q6. Which smart indoor lighting segment will be the largest in future?
Answer: Lucintel forecasts that wireless is expected to witness the highest growth over the forecast period due to increasing usage for these lights in retail outlets where Wi-Fi access point or bluetooth beacon is incorporated in the lighting fixtures, which provides push marketing, location monitoring, and customer analytics to shopkeepers.
Q7. In smart indoor lighting market, which region is expected to be the largest in next 5 years?
Answer: North America is expected to witness the highest growth over the forecast period due to growing digitalization and increasing trend of smart home infrastructures along with smart lights in the region.
Q8. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions

Q.1. What are some of the most promising, high-growth opportunities for the global smart indoor lighting market by component (hardware, software, and services)), communication technology (wired communication technology and wireless communication technology), light source (fluorescent lamps, light emitting diodes, and high density discharge lamps), application (residential, commercial, and industrial), 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?
 
For any questions related to smart indoor lighting market or related to smart indoor lighting companies, smart indoor lighting market size, smart indoor lighting market share, smart indoor lighting analysis, smart indoor lighting market growth, smart indoor lighting market research, write Lucintel analyst at email: helpdesk@lucintel.com we will be glad to get back to you soon.
Table of Contents
 
1. Executive Summary
 
2. Global Smart Indoor Lighting Market: Market Dynamics
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges
 
3. Market Trends and Forecast Analysis from 2017 to 2028
3.1: Macroeconomic Trends (2017-2022) and Forecast (2023-2028)
3.2: Global Smart Indoor Lighting Market Trends (2017-2022) and Forecast (2023-2028)
3.3: Global Smart Indoor Lighting Market by Component
3.3.1: Hardware 
3.3.2: Software 
3.3.3: Services
3.4: Global Smart Indoor Lighting Market by Communication Technology
3.4.1: Wired Communication Technology 
3.4.2: Wireless Communication Technology
3.5: Global Smart Indoor Lighting Market by Light Source
3.5.1: Fluorescent Lamps
3.5.2: Light Emitting Diodes (LED)
3.5.3: High Density Discharge Lamps
3.6: Global Smart Indoor Lighting Market by Application 
3.6.1: Residential
3.6.2: Commercial 
3.6.3: Industrial
 
4. Market Trends and Forecast Analysis by Region from 2017 to 2028
4.1: Global Smart Indoor Lighting Market by Region
4.2: North American Smart Indoor Lighting Market
4.2.1: North American Smart Indoor Lighting Market by Communication Technology: Wired Communication Technology and Wireless Communication Technology
4.2.2: North American Smart Indoor Lighting Market by Application: Residential, Commercial, and Industrial
4.3: European Smart Indoor Lighting Market
4.3.1: European Smart Indoor Lighting Market by Communication Technology: Wired Communication Technology and Wireless Communication Technology
4.3.2: European Smart Indoor Lighting Market by Application: Residential, Commercial, and Industrial
4.4: APAC Smart Indoor Lighting Market 
4.4.1: APAC Smart Indoor Lighting Market by Communication Technology: Wired Communication Technology and Wireless Communication Technology
4.4.2: APAC Smart Indoor Lighting Market by Application: Residential, Commercial, and Industrial
4.5: ROW Smart Indoor Lighting Market 
4.5.1: ROW Smart Indoor Lighting Market by Communication Technology: Wired Communication Technology and Wireless Communication Technology
4.5.2: ROW Smart Indoor Lighting Market by Application: Residential, Commercial, and Industrial
 
5. Competitor Analysis
5.1: Product Portfolio Analysis
5.2: Operational Integration
5.3: Porter’s Five Forces Analysis
 
6. Growth Opportunities and Strategic Analysis
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for the Global Smart Indoor Lighting Market by Component
6.1.2: Growth Opportunities for the Global Smart Indoor Lighting Market by Communication Technology
6.1.3: Growth Opportunities for the Global Smart Indoor Lighting Market by Light Source
6.1.4: Growth Opportunities for the Global Smart Indoor Lighting Market by Application
6.1.5: Growth Opportunities for the Global Smart Indoor Lighting Market by Region
6.2: Emerging Trends in the Global Smart Indoor Lighting Market 
6.3: Strategic Analysis
6.3.1: New Product Development
6.3.2: Capacity Expansion of the Global Smart Indoor Lighting Market 
6.3.3: Mergers, Acquisitions, and Joint Ventures in the Global Smart Indoor Lighting Market 
6.3.4: Certification and Licensing
 
7. Company Profiles of Leading Players
7.1: Signify
7.2: Acuity Brands
7.3: Legrand
7.4: Lutron Electronics 
7:5: Levitron Manufacturing Company
 
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Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
  • In-depth interviews of the major players in this market
  • Detailed secondary research from competitors’ financial statements and published data 
  • Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
  • A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
 
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process. 
 

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