Dublin, Dec. 07, 2021 (GLOBE NEWSWIRE) -- The "Global Smart Lighting Growth Opportunities" report has been added to ResearchAndMarkets.com's offering.
The global smart lighting market was estimated at $11.62 billion in 2020 and is forecast to record a 17.5% CAGR over the next seven years till 2027.
The competitive success factors in the market include product quality and cost, and ease of installation and use. Wired lighting solutions will continue to dominate the market in the forecast period, however wireless will grow to 35.8% of the market by 2027.
Buildings are shifting from conventional lighting to advanced smart lighting solutions that can help them realize energy efficiency targets, apart from improving occupant experience and comfort within their premises.
Lighting companies that hit a plateau with their revenue growth are also focusing on offering digital lighting solutions, such as remote monitoring, workspace management, fault detection and diagnostics, and people monitoring to improve their business.
The demand for smart lighting in the residential segment is high with several start-ups and incumbents vying for market share. Apart from the residential segment, healthcare and offices are the major segments that are adopting smart lighting solutions.
Leading manufacturers' focus on megatrends, such as digitization and urbanization, increasing disposable incomes, and climate change will lead to technologically advanced solutions that cater to different customer segments.
With interoperability between wired and wireless products on the horizon, there will not be major retrofits happening in the future.
Research Highlights
- Current and future market growth rates
- Market segmentation by geography
- Major drivers and trends influencing the market
- Leading market participants and comparative analysis of their solutions
- Current distribution structure and value chain analysis
Companies included in this research service are
- Acuity Brands
- Control4
- Cree
- Enlighted
- GE
- Helvar
- Hubbell
- Legrand
- Lifx
- Lutron
- Nanoleaf
- Osram
- Schreder
- Sengled
- Signify
- Syska
- TP-Link
- Wipro Lighting
- Wiz Connected
Key Topics Covered:
1. Strategic Imperatives
- Why is it Increasingly Difficult to Grow?
- The Strategic Imperative
- The Impact of the Top Three Strategic Imperatives on the Smart Lighting Industry
- Growth Opportunities Fuel the Growth Pipeline Engine
2. Growth Opportunity Analysis
- Smart Lighting Market - Scope of Analysis
- Market Segmentation
- Key Competitors
- Key Findings
- Introduction - Smart Building Ecosystem
- Introduction - Smart Building IoT Architecture
- Key Growth Metrics
- Distribution Channels
- Value Chain Assessment
- Growth Drivers
- Growth Restraints
- Forecast Assumptions
- Revenue Forecast
- Revenue Forecast by Region
- Percent Revenue Forecast by Vertical
- Percent Revenue Forecast by Communication Protocol
- Revenue Forecast Analysis
- Trends in Wireless Lighting Controls
- Control Mechanism for Smart Lighting
- Competitive Environment
- Revenue Share and Analysis
- Service Propositions by Leading Market Participants
- Porter's Five Forces Analysis for Smart Lighting Market
- Business Model Trends
3. Growth Opportunity Universe
- Growth Opportunity 1: Intelligent Lighting Solutions for Post-COVID-19 Recovery and Workspace Re-entry
- Growth Opportunity 2: Development of Internet Connectivity to Accelerate Smart Home Product Adoption
- Growth Opportunity 3: Focus on Renovation Projects to Capitalize Market Growth
- Growth Opportunity 4: Partnership with Value Chain Stakeholder for Long-term Win
- Growth Opportunity 5: Optimum Utilization of Usage Data for Value-add Services Expansion
4. Case Studies
- Case Study 1: Lighting Fixtures for Asset Tracking and Improved Indoor Navigation in a Children's Hospital in the Netherlands
- Case Study 2: Smart Sensors for Enhanced Occupant Comfort and Workspace Management in a Co-working Space in Barcelona
- Case Study 3: Intelligent Lighting Control Solution for a Hybrid Space and Unique Customer Experience in a Hotel in Finland
- Case Study 4: Improved Shopping Experience and Disinfection Lighting Solution for a Retail Store in Germany
5. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/u6ksu2
