Global Smart Lighting and Control Systems Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
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“Global Smart Lighting and Control Systems Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global smart lighting and control systems market report has been segmented on the basis of lighting source, connectivity, end user, and region.
Global Smart Lighting and Control Systems Market: Overview
Smart lighting is a lighting system specially designed to increase energy efficiency, along with automated control. The system consists of different sensors, input and output devices, communication system and also controls the luminance levels of lighting in accordance to the ambiance, daylight, infrastructure, and other factors.
Global Smart Lighting and Control Systems Market: Dynamics
Increasing penetration of Internet of Things (IoT) and increasing government institutions to adopt smart lighting technologies in order to reduce energy consumption are some major factors expected to drive growth of the global market over the forecast period. In addition, need for energy optimized infrastructure including sensing movement and automatic lights adjusts, increasing demand for intelligent solutions for street lighting systems, rising adoption of energy-efficient and advanced lighting technologies including laser light and Light-Emitting Diode (LED) across the globe, are some other factors projected to further boost growth of the target market. Moreover, technological advancements in wireless technology including Bluetooth, Wi-Fi, and Zigbee and IoT-based smart sensors adoption for smart city are some other factors estimated to propel growth of the target market over the forecast period. Furthermore, increasing awareness regarding energy saving among individuals is among the important factor expected to boost growth of the target market over the forecast period.
However, high cost of installation and limited awareness about payback period, may hinder growth of the target market over the forecast period.
Ongoing trend observed in the target market is governments in countries such as China and India are constantly focusing on creating smart cities and lowering the energy consumption by improving infrastructure and replacing conventional lighting solutions with connected lighting fixtures and controllers.
Global Smart Lighting and Control Systems Market: Segment Analysis
Among the lighting source segments, the light emitting diodes segment is expected to dominate in the target market over the forecast period.
Among the connectivity segments, the wireless segment is expected to register significant growth in terms of revenue over the forecast period.
Among the end user segments, the residential segment is expected to account for highest market share over the forecast period.
Global Smart Lighting and Control Systems Market: Regional Analysis
The market in North America is expected to hold maximum share in the target market in terms of revenue, owing to high adoption of smart lighting solutions and preference shifted towards energy saving methods. The market in Asia Pacific is projected to register second-highest growth in terms of CAGR over the forecast period, owing to industrialization, favorable government support for adopting efficient energy sources, and ongoing smart infrastructure projects including airport, shopping malls, and hospitality infrastructure in this region.
General Services Administration’s (GSA) smart building strategy started in May 2012 with aim to reduce costs and promote smart services through connected technologies by 30% by 2015. Similarly, the UJALA (Unnat Jyoti by Affordable LEDs for All) Scheme implemented by the Government of India is focusing to enhance the awareness regarding efficiency of energy-efficient LED lights.
Global Smart Lighting and Control Systems Market Segmentation:
Segmentation by Lighting Source:
- Fluorescent Lamps
- High-Intensity Discharge Lamps (HIDs)
- Light Emitting Diodes (LEDs)
Segmentation by Connectivity:
Segmentation by End User:
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2020 Estimated Year 2021 Forecast Period 2021–2030 Revenue in US$
- Koninklijke Philips N.V.
- General Electric Company
- Lightwave PLC
- Eaton Corporation
- LiFI Labs, Inc.
- Elgato Systems
- Honeywell International, Inc.
- Belkin International, Inc.
- Lutron Electronics Company, Inc.
- Acuity Brands Lighting, Inc.
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