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 2027 end.
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 (2017-2027)” that tracks the performance of the various segments of the global smart lighting market for a projected period of eight years between 2017 and 2027.
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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. 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.
Key Players:
The report has profiled some of the Important players prevalent in the global like – CREE, INC, 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, Leviton Manufacturing Co., Inc, Lutron Electronics Co., Inc, Lifi Labs Inc., Disano Illuminazione S.p.A, Switchmate Home LLC, Glamox lighting, IKEA, and EGLO Leuchten GmbH and more.
This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Smart Lighting.
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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: 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 23.5% during the forecast period.
Light 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 24.0% during 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.
Region Coverage (Regional Production, Demand & Forecast by Countries etc.):
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
Asia-Pacific (China, India, Japan, Southeast Asia etc.)
South America (Brazil, Argentina etc.)
Middle East & Africa (Saudi Araia, South Africa etc.)
Key Stakeholders
Smart Lighting Market Manufacturers
Smart Lighting Market Distributors/Traders/Wholesalers
Smart Lighting Market Subcomponent Manufacturers
Industry Association
Downstream Vendors
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Key Questions Answered in the Smart Lighting Market Report
How is the Smart Lighting Market expected to grow over the projected period?
What direction is the Smart Lighting Market expected to take in terms of volume and value during the forecast period?
What is the impact of macroeconomic factors on the Smart Lighting Market in future?
What are the key market drivers in the Smart Lighting Market?
What are significant opportunities and improvement areas for Smart Lighting Market manufacturers?
What are the key developments and trends taking over the Smart Lighting Market?
Which are the emerging countries that are expected to create significant growth opportunities in the Smart Lighting Market?
