Global Smart Lighting Market Analysis
According to Verified Market Research, The Global Smart Lighting market was valued at USD 6.56 billion in 2017 and is projected to reach USD 30.85 billion by 2025, growing at a CAGR of 21.4% from 2018 to 2025.
Smart lighting is defined as a lighting technology that is designed for ensuring energy efficiency. With the help of smart lighting technology, lighting can be controlled from an app present on smartphones. Using these mobile apps, lighting can be controlled with an ease. Smart lighting comprises of various technologies such as daylight sensing, occupancy sensing, ultrasonic and many others. Smart lighting systems ensure high cost savings and lower energy usage. Growing popularity of LED lighting products fuels the growth of smart lighting market.Global Smart Lighting Market OutlookIn the report, the market outlook section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities and challenges faced by the industry. Drivers and Restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market.
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Rising modernization and development of smart cities, growing demand for intelligent solutions for street lighting systems, need for energy-efficient lighting systems and growing penetration and declining cost of LEDs have been driving the global smart lighting market. On the other hand, perception regarding high cost of installation, inadequate awareness about payback periods, and security & privacy concerns in smart lighting systems might hamper the overall market at a global level.
Verified Market Research narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements which interests the client. The “Global Smart Lighting Market” is mainly bifurcated into sub-segments which can provide a classified data regarding latest trends in the market. This can be of a great use in gaining knowledge about the cutting-edge technologies in the market.
Global Smart Lighting Market Competitive Landscape
The “Global Smart Lighting Market” study report will provide a valuable insight with an emphasis on global market including some of the major players such as Acuity Brands, Inc., Zumtobel AG, Digital Lumens, Inc., Streetlight.Vision, Encelium Technologies, Inc., Royal Philips Electronics N.V., Honeywell International, Osram Licht AG, Legrand S.A. and Lutron Elecronics, Co.. Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above mentioned players globally.
Global Smart Lighting Market Segmentation, by Offering
o Lights and Luminaires
o Lighting Controls
o Design and Engineering
Global Smart Lighting Market Segmentation, by Communication Technology
• Wired Technology
o Digital Addressable Lighting Interface
o Wired Hybrid Protocols
o Power-Line Communication
o Power Over Ethernet
• Wireless Technology
o Bluetooth/Bluetooth Low Energy
o Wireless Hybrid Protocols
Global Smart Lighting Market Segmentation, by Application Type
• Indoor Application
• Outdoor Application
o Highways & Roadways
o Public Places
Global Smart Lighting Market Segmentation, by Installation Type
• New Installation
• Retrofit Installation
Global Smart Lighting Market Geographic Scope
• North America
o Rest of Europe
• Asia Pacific
o Rest of Asia Pacific
• Latin America
• Rest of the World
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