IMARC Group, a leading market research company, has recently releases report titled “Smart Lighting Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The study provides a detailed analysis of the industry, including the global smart lighting market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the Smart Lighting Market?
| Report Attributes | Details |
| Market Size in 2022 | US$ 13.5 Billion |
| Market Forecast in 2028 | US$ 41.2 Billion |
| Growth rate (2023 to 2028) | CAGR of 20.1% |
| Base Year of the Analysis | 2022 |
| Forecast Period | 2023-2028 |
What is Smart Lighting?
Smart lighting is an advanced lighting system that connects light bulbs to smart home assistants, apps, or other cutting-edge accessories. They are equipped with automated controls and highly efficient fixtures, enabling users to remotely automate and control lights without traditional wall switches. Smart lighting also allows users to adjust the ambient lights based on daylight availability, occupancy, and external lighting. Compared to conventional lighting systems, they are more energy-efficient and can be connected via Wi-Fi, Zigbee, or Bluetooth. As a result, they are gaining significant popularity in the industrial, commercial, and residential sectors.
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What Are the Growth Prospects and Trends in the Smart Lighting Market?
The primary factor boosting the global smart lighting market is the surging demand for lighting systems with advanced features, such as sensors and wireless technology. This is further propelled by increasing environmental awareness and inflating consumer disposable incomes. Additionally, governments of several nations are taking initiatives to promote energy-efficient lighting solutions, such as smart lighting, which, in turn, is fueling the market growth. Other factors, such as the escalating consumer awareness regarding the benefits of smart lightings, such as cost-effectiveness, rapid advancements in technology, and extensive funding for the development of smart cities, are creating a positive outlook for the market across the globe.
Who Are the Key Players Operating in the Smart Lighting Market?
The report has also analysed the competitive landscape of the market with some of the key players.
- Philips Lighting
- Acuity Brands
- Osram
- Cree
- General Electric Company
- Eaton
- Honeywell
- Legrand
- Hubbell Lighting
- Zumtobel Group
- Hafele Group
- Lutron Electronics
- Wipro Consumer Care and Lighting
- Vision
- Virtual Extension
- Syska LED
What is Included in Market Segmentation?
The report has categorized the market based on offering, communication technology, installation type, light source, application and region.
Breakup by Offering:
- Hardware
- Lights and Luminaires
- Lighting Controls
- Software
- Services
- Design and Engineering
- Installation
- Post-Installation
Breakup by Communication Technology:
- Wired Technology
- Wireless Technology
Breakup by Installation Type:
- New Installation
- Retrofit Installation
Breakup by Light Source:
- LED Lamps
- Fluorescent Lamps
- Compact Fluorescent Lamps
- High Intensity Discharge Lamps
- Others
Breakup by Application:
- Commercial
- Residential
- Public Infrastructure
- Others
Breakup by Region:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
Key Highlights of The Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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