Smart Lighting Market Size, Share, Growth Opportunities & Industry Trends Analysis Forecast Report, 2020-2027

February 24 06:00 2021
Smart Lighting Market Size, Share, Growth Opportunities & Industry Trends Analysis Forecast Report, 2020-2027

Smart Lighting Market Research Report
The Global Smart Lighting Market is witnessing strong growth during the forecast period due to the development of integrated lighting systems, followed by the growing smart city projects in emerging countries. The growing consumer awareness related to various remarkable advantages of LEDs and the reducing costs of LEDs will further drive the market growth.

The development of integrated lighting systems and growing smart city projects in emerging countries are the key drivers surging the growth of the global smart lighting market size. As per the smart lighting market analysis, several governments are mainly emphasizing on developing sustainable smart cities which uses information and communication technologies (ICTs) and other means are helping in improving the quality of life while fulfilling the requirements of present and future generations about social, economic, and environmental aspects. For example, Dubai’s government has introduced the “Dubai Plan 2021,” which transforms the city into a leading smart city.

According to the smart lighting market forecast, the increasing awareness associated with the benefits of LEDs, followed by the reducing costs of LEDs, will further propel the growth of the global smart lighting market share in terms of revenue during the forecast period. LED lights are highly energy-efficient, works in severe temperatures, and have a longer lifespan. The incorporation of lighting systems with smartphones and the development of several smart home systems like Google Assistant, Amazon Alexa, and Samsung SmartThings Hub which is the emerging smart lighting trends that is fuelling the demand of the market.

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The outbreak of the COVID-19 pandemic has negatively influenced the growth of the smart lighting market due to the lockdown around the world, which has hindered the raw material supplies of electronic components. The continuous interruption in supply chain is leading to a decline in the demand for smart lighting systems. However, the market is projected to grow at a significant rate in 2021.

On the basis of the end-use application, the global smart lighting market is segmented into indoor and outdoor. The outdoor application is predicted to rise at a higher CAGR in the coming years. This is mainly due to the growing use of smart lighting systems on highways, roads, traffic lights, and other public places like parking areas. The smart road lighting system enhances visibility on the roads, thus raising the safety level on the roads. Numerous nations like Norway are increasingly opting for the smart road lighting system to solve issues of useless illumination of densely or rarely travelled roads while saving energy.

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Based on region, Asia-Pacific is projected to lead the market over the coming years due to the increasing focus on the reduction of energy consumption by using smart lighting systems in several emerging countries, including Japan, China, and India. The government initiatives is distributing LED lights at a subsidized price, as it offers remarkable advantages such as less power consumption and consists of no harmful substances, which will further accelerate the growth of the smart lighting market. In addition to this, the rapid development of roads and highways focusing on decreasing power consumption will further stimulate the growth of the global smart street lighting systems. The smart lighting system allows high visibility, is cost-effective, and is handled by a real-time system. With the increasing urbanization and growing population of emerging countries, it has become important to develop smart cities to increase the use of resources and space. Various economies like South Korea, Japan, Vietnam, and Singapore are emphasizing on the development of smarter cities by focusing on smart home technology, digitalization, and smart roader. These factors will drive the market’s demand over the coming years.

Various notable players operating in the market include Acuity Brands Lighting, Inc., Signify Holding, Lutron Electronics, Honeywell International Inc., Legrand, Eaton Corporation, OSRAM GmbH., Leviton Manufacturing Co., General Electric Company, Hubbell, and Zumtobel Group AG.

The global smart lighting market has been segmented based on installation type, offering, end-use application, communication technology, and regions. Based on installation, the market is segmented into new installations and retrofit installations. Based on offering, the market is segmented into hardware, software and services. Based on end-use application, the market is segmented into indoor and outdoor. Based on the communication technology, the market is segmented into wired technology and wireless technology.

Smart Lighting Market Segmentation:

Global Smart Lighting Market by Installation Type:

  • New Installations
  • Retrofit Installations

 

Global Smart Lighting Market by Offering:

  • Hardware
    •  Lights & Luminaries
      •  Smart Bulbs
      •  Fixtures
  •  Lighting Controls
    •  LED Drivers & Ballasts
    •  Sensors
    •  Switches
      •  Manual On/Off Switches
      •  Electronic Switches
    •  Dimmers
      •  Wired Dimmers
      •  Wireless Dimmers
    •  Relay Units
    •  Gateways
    • Software
      •  Local/Web-Based Software
      •  Cloud-Based Software
      • Services
        •  Pre-installation Services
        •  Post-installation Services

 

Global Smart Lighting Market by End-Use Application:

  • Indoor
    •  Residential
    •  Commercial
      •  Retail
      •  Hospitality
      •  Office Lighting
  •  Industrial
  •  Others
  • Outdoor
    •  Highways & Roadways Lighting
    •  Architectural Lighting
    •  Lighting for Public Places

 

Global Smart Lighting Market by Communication Technology:

  • Wired Technology
    •  DALI
    •  Power Over Ethernet (PoE)
    •  Wired Hybrid Protocols
    • Wireless
      •  ZigBEE
      •  Wi-Fi
      •  BLE
      •  EnOcean
      •  6LoWPAN
      •  Wireless Hybrid Protocols

 

Global Smart Lighting Market by Region:

 

  • North America Smart Lighting Market (Option 1: As a part of the free 25% customization)
    • North America Market by Installation Type
    • North America Market by Offering
    • North America Market by End-Use Application
    • North America Market by Communication Technology
    • United States Smart Lighting Market
    • Canada Smart Lighting Market

 

  • Europe Smart Lighting Market (Option 2: As a part of the free 25% customization)
    • Europe Market by Installation Type
    • Europe Market by Offering
    • Europe Market by End-Use Application
    • Europe Market by Communication Technology
    • UK Smart Lighting Market
    • Germany Smart Lighting Market
    • France Smart Lighting Market
    • Spain Smart Lighting Market
    • Rest of Europe Smart Lighting Market

 

  • Asia-Pacific Smart Lighting Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Market by Installation Type
    • Asia-Pacific Market by Offering
    • Asia-Pacific Market by End-Use Application
    • Asia-Pacific Market by Communication Technology
    • China Smart Lighting Market
    • India Smart Lighting Market
    • Japan Smart Lighting Market
    • Rest of APAC Smart Lighting Market

 

  • RoW Smart Lighting Market (Option 4: As a part of the free 25% customization)
    • RoW Market by Installation Type
    • RoW Market by Offering
    • RoW Market by End-Use Application
    • RoW Market by Communication Technology
    • Brazil Smart Lighting Market
    • South Africa Smart Lighting Market
    • Saudi Arabia Smart Lighting Market
    • UAE Smart Lighting Market
    • Rest of world (remaining countries of the LAMEA region) Smart Lighting Market

 

Our Other Relevant Reports:

  1. Global Ambient Lighting Market
  2. Saudi Arabia Smart LED Lighting Market

 

Major Players Operating in Smart Lighting Market (Option:5 As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

  • Signify Holding
  • Legrand
  • Acuity Brands Lighting, Inc.
  • Eaton Corporation
  • General Electric Company
  • OSRAM GmbH.
  • Leviton Manufacturing Co.
  • Lutron Electronics
  • Zumtobel Group AG
  • Honeywell International Inc.
  • Hubbell Incorporated

 

About GMI Research

GMI Research is a market research and consulting company that provides syndicated research reports, consulting services, and customized market research reports. Our reports are based on market intelligence studies to ensure relevant and fact-based research across numerous sectors, including healthcare, automotive, information technology & communication, FMCG, and other industries. GMI Research’s deep understanding related to the business environment helps us in generating objective strategic insights. Our research teams consisting of seasoned analysts and researchers have hands-on experience in various regions, including Asia-pacific, Europe, North America, and the Rest of the World. The market research report offers in-depth analysis, which contains refined forecasts, a bird’s eye view of the competitive landscape, factors impacting the market growth, and several other market insights to aid companies in making strategic decisions. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to help our clients to stay ahead of the curve.

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