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Opportunity Assessment of Smart Lighting Market Reveals Profitable Avenues for Manufacturers

The global smart lighting market is segmented on the basis of product type, light source, communication technology, region and application. Persistence Market Research has come up with a new report titled “Smart Lighting Market: Global Industry Analysis (2012-2016) and Forecast (2017-2025)” that tracks the performance of the various segments of the global smart lighting market for a projected period of eight years between 2017 and 2025. The global smart lighting market is expected to witness high revenue growth during the forecast period. This growth is attributed to the increasing adoption of better lighting solutions globally. The global smart lighting market was valued at US$ 6,838.2 Mn in 2016, and is projected to reach US$ 40,388.6 Mn by 2025 end. North America and Europe were the dominant markets in 2016 in terms of revenue in the smart lighting market. Asia Pacific is expected to dominate in terms of CAGR during the forecast period.

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Global Smart Lighting Market: Drivers

  • Real estate vendors are increasingly adopting smart lighting solutions leading to a surge in demand globally
  • Connected lighting development for smart cities is a big growth fuelling aspect
  • Rapid urbanization is driving the adoption of smart lighting products across the globe
  • Increasing number of green building projects and development of smart lighting infrastructure are other factors positively impacting market revenue growth
  • Government’s partnership with key players especially in the MEA region is also a significant growth driver

Global Smart Lighting Market: Forecast by Region

North America, Latin America, Europe, APAC and MEA are the five regions extensively covered in this report. The APAC smart lighting market is expected to witness a relatively high growth rate over the forecast period. Revenue from the smart lighting market in North America and Europe collectively accounted for over 50% of the global smart lighting market revenue in 2016. In terms of value, APAC is projected to be the most attractive regional market in the global smart lighting market during the forecast period. The market in APAC is also expected to register high Y-o-Y growth rates throughout the forecast period.

Global Smart Lighting Market: Segmental Analysis

The global smart lighting market is segmented into four categories. On the basis of product type, the global market for smart lighting is segmented into fixture, lighting control and others. In terms of value, the fixture segment is projected to be the most attractive in the global smart lighting market during the forecast period. In terms of value, this segment is expected to expand at a CAGR of 23.5during the forecast period.

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source segment consists of LED, CFL, and incandescent. In terms of value, the LED segment is expected to increase at a high CAGR during the forecast period.  In 2016, the LED segment was valued at US$ 3,259.6 Mn, and is expected to witness steady growth in terms of revenue throughout the forecast period.

Communication technology segments include wired smart lighting and wireless smart lighting. The wireless smart lighting segment is expected to register high Y-o-Y growth rates throughout the forecast period. In terms of value, this segment is anticipated to expand at a CAGR of 24.0during the forecast period.

By application the market is segmented into indoor and outdoor. Indoor segment is sub-segmented into commercial/industrial and residential, while outdoor segment is further segmented into street lighting, architectural lighting, lighting for public places and others. Currently, the indoor segment dominates in terms of revenue, owing to the adoption of advanced lighting solutions.

Companies Operating in the Global Smart Lighting Market

  • Prominent Players
  • Hubbell Lighting, Inc.
  • GE Lighting, LLC
  • OSRAM Licht AG
  • Royal Philips NV
  • Acuity Brands Lighting, Inc.
  • Honeywell International Inc.
  • Panasonic Corporation
  • Schneider Electrical S.E
  • Eaton Corporation
  • Other Players
  • Leviton Manufacturing Co., Inc
  • Lutron Electronics Co., Inc
  • Lifi Labs Inc.
  • Disano Illuminazione S.p.A
  • Switchmate Home LLC
  • Glamox lighting 
  • IKEA 
  • EGLO Leuchten GmbH
  • Others

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Smart Lighting Market Trends, Business Strategies and Opportunities With Key Players Analysis 2027

The Business Market Insights provides you regional research analysis on “Smart Lighting Market” and forecast to 2027. The research report provides deep insights into the regional market revenue, parent market trends, macro-economic indicators, and governing factors, along with market attractiveness per market segment. The report provides an overview of the growth rate of the Smart Lighting market during the forecast period, i.e., 2020–2027.

Smart lighting is a type of lighting technology that is designed for energy efficiency. It has automated controls that controls the lighting and makes adjustments based on different conditions such as occupancy or daylight availability etc. Increasing consumer awareness regarding energy saving, thereby increasing the demand for energy-efficient technology, is fueling the market for the smart lighting.

The report profiles the key players in the industry, along with a detailed analysis of their individual positions against the regional landscape. The study conducts SWOT analysis to evaluate strengths and weaknesses of the key players in the Smart Lighting market. The researcher provides an extensive analysis of the Smart Lighting market size, share, trends, overall earnings, gross revenue, and profit margin to accurately draw a forecast and provide expert insights to investors to keep them updated with the trends in the market.

Major key players covered in this report:

Koninklijke Philips N.V.
Eaton Corporation PLC
Honeywell International PLC
Lutron Electronics Company Inc.
Legrand SA
General Electric Company
Osram Licht AG
Wipro Lighting
Schneider Electric
Hubbell India

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The study conducts SWOT analysis to evaluate strengths and weaknesses of the key players in the Smart Lighting market. Further, the report conducts an intricate examination of drivers and restraints operating in the market. The report also evaluates the trends observed in the parent market, along with the macro-economic indicators, prevailing factors, and market appeal with regard to different segments. The report predicts the influence of different industry aspects on the Smart Lighting market segments and regions.

The research on the Smart Lighting market focuses on mining out valuable data on investment pockets, growth opportunities, and major market vendors to help clients understand their competitor’s methodologies. The research also segments the Smart Lighting market on the basis of end user, product type, application, and demography for the forecast period 2020–2027. Comprehensive analysis of critical aspects such as impacting factors and competitive landscape are showcased with the help of vital resources, such as charts, tables, and infographics.

This report strategically examines the micro-markets and sheds light on the impact of technology upgrades on the performance of the Smart Lighting market.

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