Dublin, July 04, 2023 (GLOBE NEWSWIRE) -- The "Smart Lighting and Control Systems: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Smart Lighting and Control Systems estimated at US$42.4 Billion in the year 2022, is projected to reach a revised size of US$153.7 Billion by 2030, growing at a CAGR of 17.5% over the analysis period 2022-2030.
Light Emitting Diodes (LEDs), one of the segments analyzed in the report, is projected to record a 20.7% CAGR and reach US$117.7 Billion by the end of the analysis period.
Taking into account the ongoing post pandemic recovery, growth in the Fluorescent Lamps segment is readjusted to a revised 6.8% CAGR for the next 8-year period.
The U.S. Market is Estimated at $10.1 Billion, While China is Forecast to Grow at 21.9% CAGR
The Smart Lighting and Control Systems market in the U.S. is estimated at US$10.1 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$26.6 Billion by the year 2030 trailing a CAGR of 21.9% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 14.5% and 16% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 15.6% CAGR.
Select Competitors (Total 97 Featured) -
- ABB Ltd.
- Acuity Brands, Inc.
- Belkin International, Inc.
- Cree Lighting
- Dialight PLC
- Eaton Corporation plc
- Enlighted, Inc.
- GE Current, a Daintree Company
- GE Lighting, a Savant Company
- Helvar Oy Ab
- Honeywell International, Inc.
- Legrand S.A
- Leviton Manufacturing Company, Inc.
- LG Electronics, Inc.
- LightwaveRF Plc
- Lutron Electronics Co., Inc.
- OSRAM Licht AG
- RAB Lighting, Inc.
- Schneider Electric SE
- Signify N.V.
- Synapse Wireless, Inc.
- Wipro Enterprises (P) Ltd.
- Zumtobel Group AG
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 517 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $42.4 Billion |
| Forecasted Market Value (USD) by 2030 | $153.7 Billion |
| Compound Annual Growth Rate | 17.5% |
| Regions Covered | Global |
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Impact of COVID-19 Pandemic and Looming Global Recession
- A Review of COVID-19 Pandemic
- Stagflation & an Imminent Recession: New Challenges in 2022 & 2023
- World Economic Growth Projections (Real GDP, Annual % Change) for the Years 2020, 2021, 2022 and 2023
- COVID-19 Pandemic Impacts Smart Lighting Market
- Home Office Trend Drives Demand for Lighting Solutions with Smart Features
- Smart Lighting Solutions to be part of Recovery Plans of European Countries
- IoT- and LED-Powered Platforms to Allow Safe Return of People to Workplaces
- An Introduction to Smart Lighting & Control Systems
- Smart Lighting Certifications & Standards
- Smart Lighting: Energy-Efficient, Dynamic, Digital, and Connected
- Global Market Prospects & Outlook
- A Dive into Sparkling Trends Igniting Growth of Smart Lighting Market
- LEDs Continue to Gain Over Other Smart Lighting Technologies
- Developed Regions Lead, Developing Nations to Boost Long-term Growth
- Competition
- Smart Lighting and Control Systems - Global Key Competitors Percentage Market Share in 2022 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
- Product Differentiation: The Key to Success
- Effective Marketing Strategies: A Must for Success in the Marketplace
- Technology and Other Risks Faced by Vendors in the Smart Lighting Business
- Smart Lighting Controls Market: Competitive Landscape
- Startups Exhibit Growing Interest in Smart Lighting Market
- World Brands
- Recent Market Activity
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Superior Attributes of Smart Lighting over Traditional Lighting to Boost Market Prospects
- Prominent Technologies with Potential to Transform Lighting Industry
- IoT and Artificial Intelligence Gain Significance in Lighting Applications
- LEDs, IoT & Innovations: Rays of Sunshine for Smart Lighting Technologies
- Convergence of IoT and Lighting Devices
- AI Set to Scale Up Smart Lighting Capabilities
- High-Growth Opportunities for AI Smart Lights
- German Research Team Aims to Develop New AI Smart Lights
- Emphasis on Achieving Energy and Cost Savings amidst Spiraling Electricity Consumption: The Fundamental Growth Driver
- Projected Global Demand for Electricity (MWh): 2015, 2020, 2025, 2030 & 2035
- Transforming Effect of Smart, Intelligent, and Intuitive Lighting on Human Life Drives Market Expansion
- Smart Intelligent LED Lighting Catalyzes Growth Prospects
- LED and Other Lighting Technologies: A Comparison
- Connected, Embedded, and Sustainable Lighting Drive Enormous Changes in Luminaire Design and Functionality
- Rise of Smart Cities and Focus on Smart Energy Management Opens Up Opportunities for Smart Lighting Products
- Smart Lighting Illuminating the Road to Smart Cities
- Global Market for Smart City Technologies in US$ Million for the Years 2020 and 2027
- Smart Lighting Systems Find High Demand from Street Lighting Networks
- Connected Street Lighting to Surge Post Pandemic
- New Smart City Projects Spur Market Growth for Smart Street Lighting Systems
- Connected Lighting to Witness Emergence of Several New Trends
- Consumer Spending on Smart Home Technologies Presents Opportunities for Smart Lighting Solutions
- Global Smart Homes Market (In US$ Billion) for the Years 2019, 2021, 2023 & 2025
- Global Smart Home Market Breakdown by Technology (in %) for 2018 and 2022
- Smart Home Penetration Rate (%) by Region/Country: 2020
- Buzzing Trends Shaping Future of Smart Home Lighting
- Increasing Adoption of LEDs in Innovative Niche Lighting Markets Favor Market Expansion
- Controls: Augmenting the Intelligent Quotient of Smart Lighting
- Lighting Controls Offer Higher Savings, Energy Efficiency, and Space Efficiency
- Convenience & Advances Boost Popularity of Wireless Lighting Controls
- Controls for Connected, Intelligent, and Advanced LED luminaires
- Commercial Lighting: Adoption of Smart Lighting Systems Surges As a Measure to Cut Energy Costs
- Lighting Technology Advancements for Commercial Buildings
- Connecting End-to-End Building Systems Using Smart Lighting
- Residential Sector: A Potential Laden Application Segment in the Long Run
- Smart Lighting for Homes Surges amidst the Pandemic
- Demand Rises for Smart, Energy Efficient Lighting Systems in Industrial Applications
- Role of Smart Lighting Control Systems As Supplemental Lighting Expanding in Greenhouses
- Smart LED Lighting Advantageous for Horticulture
- Specialty Lighting Applications to Boost Demand for Smart Lighting Systems
- UV Light Emerges as Important Weapon in War against COVID-19 Pandemic
- Smart Lighting Deployments Gain Momentum in Government Buildings and Public Lighting
- Smart Lighting Solutions to Meet Needs of Healthcare Facilities
- Advances in Lighting System & Controls Drive Adoption in Healthcare Facilities
- Facilities Get Spectacular Makeover & Savings with Advanced Lighting Controls
- Strangulated by Spiraling Energy Prices, Municipalities Find Solace in Smart LED Street Lighting
- Introduction of Interoperable Communication Networks Fuels Demand for Wireless Lighting Devices
- Advent of Novel Standards Fuel Demand for Bluetooth-Enabled Communication Devices
- Key Smart Lighting Technology Trends
- Technology Trends: Let There be Light for Lighting Controls
- Technology Advancements in Smart Lighting & Controls to Boost Market Prospects
- Li-Fi to Emerge as Game Changer
- OLED Lighting Remains a Niche Category
- Horticulture Lighting with Smart LEDs for Enabling City Farming
- COVID-19 Pandemic Fuels Demand for Touch Free LED Lighting Devices
- Government Policies Spur Adoption of Energy Efficient Lighting Solutions, Spur Opportunities for Smart Lighting Market
- Impact of COVID-19 on the Construction Sector Tones Down Near-term Growth Prospects
- World Construction Industry (in US$ Trillion) for the Years 2017, 2019 & 2022
- Demographic Trends Influence Market Prospects
- World Population (in Thousands) by Geographic Region for the Years 2019, 2030, 2050, 2100
- Urbanization Drives Need for Efficient, and Longer Lasting Smart Lighting Solutions
- World Urban Population in Thousands: 1950-2050P
- Degree of Urbanization Worldwide: Urban Population as a % of Total Population by Geographic Region for the Years 1950, 1970, 1990, 2018, 2030 and 2050
- Growing Middle Class Population
- Global Middle Class Population (In Million) by Region for the Years 2020, 2025 and 2030
- Global Middle Class Spending (US$ Trillion) by Region for the Years 2020, 2025, 2030
- Improving Standards of Living
- Key Challenges Hampering Market Prospects for Smart Lighting
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/rtl6e8
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