Smart Lighting Market size was valued at USD 10.97 Billion in 2021, registering a CAGR of 20.3% during the forecast period (2022-2030), and the market is projected to be worth USD 57.89 Billion by 2030.
Smart lighting is also termed as adaptive lighting. This includes all the fittings that are controlled remotely by connected devices like smartphones, tablets, or in-built control panels. For example- LiFi, smart street lights, smart light fixtures, and smart bulbs. Smart lighting is an advanced human-centric lighting solution as it enhances the mood, health, and well-being of people. This allows them to adjust the luminance, directions, and interlinked color temperatures of the lightning. Furthermore, these solutions improve concentration, safety, and efficiency in the workplace and educational realm. Thus, such features contribute to market growth.
Smart Lighting Market Research Report” was just released by Market Research Community. It is divided into several categories, including By Hardware (Smart Bulb, Luminaire, Light Control, Software, On Premises, Cloud), By Services (Pre-sales, Post-sales), By Connectivity Technology (Bluetooth, Zigbee, WiFi, DALI, OTHERS),By Lighting Technology (LED, Halogen, Incandescent, Fluorescent, CFL), By Application (Indoor Lighting, Outdoor Lighting), By Industry Vertical (Residential, Commercial, Industrial, Automotive, Others), and companies (Honeywell International Inc, Koninklijke Philips N.V, Syska, Acuity Brands, Inc, Cisco Systems, Inc, Cree, Inc, Eaton, Deco Lighting, Inc, Dialight, General Electric), According to the analysis of Market Research Community, The market is projected to grow at a significant pace reaching a CAGR of approximately 20.3%, over the forecast period of 2022–2030
The increased demand among consumers for IoT-enabled smart lighting at outdoor and indoor lighting solutions largely contributes to the growing market size during the forecast period. Additionally, the growing infrastructural developments in developed countries fuel the demand for smart lighting with advanced features such as wi-fi and Bluetooth-enabled smart devices, color tone customizations, voice-controlled assistant platforms, and others.
|Report Attributes||Report Details|
|Market Size in 2030 (USD Billion)||57.89 Billion|
|By Hardware||Smart Bulb, Luminaire, Light Control, Software, On Premises, Cloud|
|By Services||Pre-sales, Post-sales.|
|By Connectivity Technology||Bluetooth, Zigbee, WiFi, DALI, OTHERS|
|By Application||Indoor Lighting, Outdoor Lighting.|
|By Geography||North America, Europe, Asia Pacific, Latin America, Middle East and Africa|
|Key Players||Honeywell International Inc, Koninklijke Philips N.V, Syska, Acuity Brands, Inc, Cisco Systems, Inc, Cree, Inc, Eaton, Deco Lighting, Inc, Dialight, General Electric.|
The COVID-19 pandemic has had a substantial negative influence on the Smart Lighting market in many different regions of the world. The factors such as limited availability of raw materials, transportation restrictions, the shutdown of manufacturing facilities, and economic slowdown are the major impacts of COVID-19 which hampered the market growth. Shipments were impacted during the initial lockdown due to halted automotive productions and stringent government rules. The overall impact of COVID-19 on the industry is estimated to be minimal because the situation has stabilised. Post covid-19, there was a positive impact on the market growth due to the increased industrial manufacturing processes and rising demand for environment-friendly alternatives.
Industry Competitive Landscape:
The research includes comprehensive profiles of the key players in the market and an analysis of the competitive landscape. The market for sample preparation has grown more quickly as a result of the spike in research and development (R&D), product innovation, different business strategies, and application releases. Key players in the market include-
Honeywell International Inc, Koninklijke Philips N.V, Syska, Acuity Brands, Inc, Cisco Systems, Inc, Cree, Inc, Eaton, Deco Lighting, Inc, Dialight, General Electric.
Market Segment Analysis:
- Smart Bulb
- Light Control
- On Premises
By Connectivity Technology
By Lighting Technology
- By Application
- Indoor Lighting
- Outdoor Lighting
By Industry Vertical
The regional segment includes Asia Pacific, Europe, North America, the Middle East, and Africa, Latin America. In 2021, some of these regions expected to contribute the largest share during the forecast period.
The factors such as the large and easy availability of basic things, rising purchasing power among the population, and favorable government policies and industrial facilities are estimated to accelerate the industry growth in the region. The growing rate of industrialization is anticipated to boost the presence of Smart Lighting industries in the region.
Key Smart Lighting Market Trends
– Based on type, sub-type, technology utilised, applications, end-users, and geographies, the research identifies, defines, and predicts the Global Smart Lighting Market segments.
– Largest Market Share Held by Industry to Industry for Smart Lighting
– Based on their expected growth, development patterns and prospects for the future, and contributions to the overall market, it analyses the micro markets.
– Demand from the geographical area is estimated to boost growth.
– Growing Market Segment Adoption in the Smart Lighting Industry
– Over the forecast period, higher growth rates are anticipated in in some regions
Why Purchase the Industry Report by MRC
There is a huge amount of information in the report, including market trends and business opportunities for the forecast period.
Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) statistics.
Data at the regional, sub-regional, and national levels also includes information on the market’s supply and demand dynamics.
The competitive landscape includes the proportions of important players, recent innovations, and strategy.
Comprehensive product offerings, important financial data, latest advancements, SWOT analysis, and key player tactics.
Table of Content
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