IMARC Group, a leading market research company, has recently releases report titled “Smart Lighting Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The study provides a detailed analysis of the industry, including the global smart lighting market size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the Smart Lighting Market?
Report Attributes
Details
Market Size in 2022
US$ 13.5 Billion
Market Forecast in 2028
US$ 41.2 Billion
Growth rate (2023 to 2028)
CAGR of 20.1%
Base Year of the Analysis
2022
Forecast Period
2023-2028
What is Smart Lighting?
Smart lighting is an advanced lighting system that connects light bulbs to smart home assistants, apps, or other cutting-edge accessories. They are equipped with automated controls and highly efficient fixtures, enabling users to remotely automate and control lights without traditional wall switches. Smart lighting also allows users to adjust the ambient lights based on daylight availability, occupancy, and external lighting. Compared to conventional lighting systems, they are more energy-efficient and can be connected via Wi-Fi, Zigbee, or Bluetooth. As a result, they are gaining significant popularity in the industrial, commercial, and residential sectors.
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What Are the Growth Prospects and Trends in the Smart Lighting Market?
The primary factor boosting the global smart lighting market is the surging demand for lighting systems with advanced features, such as sensors and wireless technology. This is further propelled by increasing environmental awareness and inflating consumer disposable incomes. Additionally, governments of several nations are taking initiatives to promote energy-efficient lighting solutions, such as smart lighting, which, in turn, is fueling the market growth. Other factors, such as the escalating consumer awareness regarding the benefits of smart lightings, such as cost-effectiveness, rapid advancements in technology, and extensive funding for the development of smart cities, are creating a positive outlook for the market across the globe.
Who Are the Key Players Operating in the Smart Lighting Market?
The report has also analysed the competitive landscape of the market with some of the key players.
Philips Lighting
Acuity Brands
Osram
Cree
General Electric Company
Eaton
Honeywell
Legrand
Hubbell Lighting
Zumtobel Group
Hafele Group
Lutron Electronics
Wipro Consumer Care and Lighting
Vision
Virtual Extension
Syska LED
What is Included in Market Segmentation?
The report has categorized the market based on offering, communication technology, installation type, light source, application and region.
Breakup by Offering:
Hardware
Lights and Luminaires
Lighting Controls
Software
Services
Design and Engineering
Installation
Post-Installation
Breakup by Communication Technology:
Wired Technology
Wireless Technology
Breakup by Installation Type:
New Installation
Retrofit Installation
Breakup by Light Source:
LED Lamps
Fluorescent Lamps
Compact Fluorescent Lamps
High Intensity Discharge Lamps
Others
Breakup by Application:
Commercial
Residential
Public Infrastructure
Others
Breakup by Region:
North America
Europe
Asia Pacific
Middle East and Africa
Latin America
Key Highlights of The Report:
Market Performance (2017-2022)
Market Outlook (2023-2028)
Market Trends
Market Drivers and Success Factors
SWOT Analysis
Value Chain Analysis
Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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