Pune, India, Aug. 03, 2021 (GLOBE NEWSWIRE) -- The global smart lighting market is expected to value at USD 13.20 billion in 2021 and is projected to grow at a CAGR of 17.9% during the forecast period. Lighting consumes high energy; therefore, industries and government departments are concentrating on lowering energy consumption by substituting conventional lighting systems with effective and advanced lighting control systems. Automated lighting control not only offers economical and flexible lighting but also controls the tasks carried out by consumers. Thus, demand for smart lighting systems is increasing exponentially. A modern theory like wireless networking is developing and is being adopted actively. The application for smart lighting can be in the sectors like government buildings, industrial and automobiles, and residential buildings.
Get Sample Copy of This Report @ https://www.quincemarketinsights.com/request-sample-58899
The factors driving the market growth include the emergence of integrated lighting control systems, forthcoming smart city projects in emerging economies, increasing adoption and reducing price of LEDs, integration of lighting solutions with smart devices, and increasing awareness about energy consumption among customers and governments globally.
In the current market, producers anticipate that the growth of smart lighting products would help them skim additional payments from consumers. This would help them separate the marketing of lighting products from the strong downward price spiral in the traditional LED Lighting markets.
Moreover, because of smart lighting societal advantages, eco-friendly LED technology might be adopted more quickly by customers. The replacement of the compact fluorescent or halogen lighting technologies could therefore be increased.
Modern smart lighting systems are based on light-emitting diode (LED) technology and require modern drivers with energetic spectral light production and advanced sensing abilities. The ideal characteristics are added modern services acting as the hub for optical communications that permit coincidence with traditional Wi-Fi gateways in indoor environments. Advantages of smart-lighting products have only restricted appeal to customers, because of tangible and psychological limits that hamper the individual adoption of these inventive lighting products.
The smart lighting market is segmented based on installation type, end-use application, communication technology, offering, and region.
Enquiry Before Buying This Report @ https://www.quincemarketinsights.com/enquiry-before-buying/enquiry-before-buying-58899
Global Smart Lighting Market, by Installation Type
Based on installation type, the smart lighting market is segmented as new installation and retrofit. The new installation segment is anticipated to dominate the market during the predicted period due to the increasing demand for smart lighting systems across different locations like corporate offices, shopping malls, parking spaces, and homes. In addition, with the development of wireless technologies and the constant growth in electronics and sensor technology, it has become mandatory for consumers to select smart lighting systems. This factor is expected to contribute to segment growth during the forecast period.
Global Smart Lighting Market, by Offering
Based on offering, the smart lighting market is segmented as hardware, software, and services. Hardware is bifurcated into light and luminaires, which includes smart bulbs and fixtures, lighting controls which are bifurcated into LED drivers and ballasts, sensors, and switches, dimmers includes wired dimmers and wireless dimmers, relay units, and gateways. Software is bifurcated into local/web-based and cloud-based, and services are bifurcated into pre-installation services and post-installation services.
The light and luminaires segment is expected to hold a significant market share during the forecast period, owing to the emergence of integrated lighting controls with lamps and luminaires. The combination of lighting control products with luminaires allow the embedding of software on microcontrollers, adding intelligence to the complete lighting control system. Such lighting system offers sensing and control at a spatial resolution, which is expected to drive the demand for smart lights and luminaires during the forecast period.
Global Smart Lighting Market, by End-Use Application
Based on end-use applications, the smart lighting market is segmented into indoor and outdoor. Indoor is bifurcated into residential, commercial, industrial, and others. Outdoor is bifurcated into highways and roadways lighting, architectural lighting, and lighting for public places.
The outdoor end-use applications is expected to grow at a higher CAGR during the forecast period. The market growth can be attributed to increasing focus on improving connectivity by manufacturing roads and installing smart lights for these roads, mostly in the emerging nations in the Asia Pacific region.
Global Smart Lighting Market, by Communication Technology
Based on communication technology, the smart lighting market is segmented into wired and wireless. The wired segment is classified into DALI, power over ethernet (PoE), power line communication (PLC), wired hybrid protocols and the wireless segment is classified into zig-bee, Bluetooth/BLE, EnOcean, Wi-Fi, 6LoWPAN, and wireless hybrid protocols.
The power over ethernet (PoE) wired communication technology segment is expected to grow at the highest CAGR during the forecast period. The PoE (power over ethernet) segment can be driven by factors like increasing penetration and decreasing price of LEDs, increasing adoption of powered over ethernet (PoE) lighting solutions in healthcare and commercial applications, and increasing demand for cost-effective lighting solutions.
Global Smart Lighting Market, by Region
Based on region, the smart lighting market is segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and South America. North America is expected to dominate the market during the forecast period. North America is focusing on acquiring government contracts related to street lighting monument/architecture lighting, and other lighting projects the aim behind obtaining government contracts is to get bulk business. This expected to contribute to regional smart lighting market growth.
Asia Pacific is expected to be the emerging market during the forecast period. The highest development is anticipated to be in the resident building smart lighting applications. The major drivers for regional smart lighting market are favorable government policies, growth in electronics and sensor technology, energy efficiency, development of LED, and increasing development in street lighting systems, and eradication of incandescent lamps.
Recent Developments in the Global Smart Lighting Market
- February 2021- Signify, the developers of the highly successful Philips Hue line of smart light bulbs, selected Google Cloud as their preferred partner of option to deliver a smooth digital experience, making it simpler than ever for Hue owners to enjoy smart lighting full potential. Signify chose Google Cloud to power their smart lighting solution because of its cloud’s capability to manage millions of connected devices as well as provide true scalability, security, and flexibility.
- September 2020- LiFX (Buddy Technologies) launched a new LiFX Clean LED in North America. This Smart light is the world’s first germicidal, antibacterial smart light that is capable of disinfecting surfaces and surrounding air. The LiFX Clean smart bulb is an extension of the design of the latest LiFX A19/A60 bulbs, therefore offering a white and color light that can be controlled with the LiFX app together with smart homes assistants like Google home and Alexa.
Key Findings of the Global Smart Lighting Market Include:
- The analysis includes a global smart lighting market study, expansions, and forecasts, along with a country-specific analysis
- An in-depth analysis of the global smart lighting market comprises segments by installation type, offering, end-use application, communication technology, and region with an analysis of trend-based insights and factors
- Product offering details on competitive benchmarking and the evolution approach adopted by the industry players, along with their investments in the last five years in the global market
- The market research includes a study of the provinces, boundaries, drivers, prospects, guidelines, challenges, and procedures that are propelling the global smart lighting market
- The study also offers complex measures of potential market effect during the forecast period and an in-depth overview of the leading companies operating in the global market
- External as well as internal variables that are expected to have a positive or negative effect on companies have been evaluated, which will offer the decision-makers a strong futuristic view of the industry
- The research also helps understand the dynamics of the market structure by analyzing market segments and by projecting the size of the market
- The report helps to understand the effects of the COVID-19 pandemic on the global smart lighting market
- Some major industry players functional in the global smart lighting market are: Signify N.V., Legrand S.A., Acuity Brands, Inc., Eaton Corporation, General Electric Company, OSRAM Licht Group, Lutron Electronics Co., Inc., Zumtobel Group, Honeywell International Inc., Hubbell Incorporated, Dialight, Panasonic Corporation, Wipro Enterprises Ltd, LG Electronics., and Siemens AG.
Browse key industry insights spread across pages with market data tables and figures & charts from the report “Smart Lighting Market, By Offering (Hardware, Software, Services), By Communication Technology (Wired, Wireless), By Installation Type (New, Retrofit), By Light Source(LED Lamps, Fluorescent Lamps, High Intensity Discharge Lamps, Others), By Application (Commercial, Residential, Public Infrastructure, Others), By Region (North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, Rest of the World) – Market Size & Forecasting(2016-2028)”, and in-depth analysis along with the table of contents (ToC).
Buy Now Full Report @ https://www.quincemarketinsights.com/insight/buy-now/smart-lighting-market/single_user_license
Contact Us:
Ajay D
Quince Market Insights
Pune India
Phone: US +1 208 405 2835
UK +44 1444 39 0986
APAC +91 706 672 4848
Email: sales@quincemarketinsights.com
Web: www.quincemarketinsights.com
Browse Related Reports:
- Global Aircraft Lighting Market, By Lighting Type (Interior and Exterior), By Aircraft Type (Commercial Aviation, Military Aviation, and Business Aviation), By Platform (Fixed Wing and Rotary Wing), and By Region (North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, and Rest of the World) – Market Size & Forecasting (2016-2028)
https://www.quincemarketinsights.com/industry-analysis/global-aircraft-lighting-market
- Global LED Emergency Lighting Market, By Type (30W, 40W, 50W, Others), By Application (Residential, Commercial, Cinema, School, Others), By Region (North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, Rest of the World) – Market Size & Forecasting (2016-2028)
https://www.quincemarketinsights.com/industry-analysis/global-led-emergency-lighting-market
- Global Lighting Fixture Market, By Type (Portable, Non-Portable, and Others), By Application (Residential, Commercial & Industrial, Outdoor, and Others), and By Region (North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, and Rest of the World) – Market Size & Forecasting (2016-2028)
https://www.quincemarketinsights.com/industry-analysis/global-lighting-fixture-market
- High-End Lighting Market, By Type (LED Lamps, HID Lamps, Fluorescent Lights, and Others), By Interior Design (Modern, Traditional, and Transitional), By Application (Wired and Wireless), By End User (Commercial, Industrial, Residential, and Others), and By Region (North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, and Rest of the World) – Market Size & Forecasting (2016-2025)
https://www.quincemarketinsights.com/industry-analysis/high-end-lighting-market
- Global LED Lighting Drivers Market, By Driving Method (Constant Voltage, Constant Current), By Dimming Method (Dimmable, Non-Dimmable), By Application (Residential Lighting, Office Lighting, Commercial Lighting, Industrial Lighting, City Lighting, Automotive Lighting, Sports Facilities Lighting, Entertainment Lighting, Horticulture Lighting), By Region (North America, Eastern Europe, Western Europe, Asia Pacific, Middle East, Rest of the World) – Market Size & forecasting (2016-2025)
https://www.quincemarketinsights.com/industry-analysis/led-lighting-drivers-market
- Global Intelligent Lighting Controls Market, By Component (Ballasts, Transmitters & Receivers, Intelligent Luminaries, LED Drivers, Micro Controllers, Dimmers & Switches Actuator), By Connectivity (Wired Controls, Wireless Lighting Controls), By Application (Commercial Building, Residential Building, Public Utility), By Region (North America, Europe, Asia Pacific, Middle East, Rest of the World) – Market Size & Forecasting (2016-2025)
https://www.quincemarketinsights.com/industry-analysis/intelligent-lighting-controls-market