Market Research Future published a research report on “Smart Indoor Lighting Market Research Report- Global Forecast 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
Market Synopsis of Smart Indoor Lighting Market:
Smart indoor lighting is a technology designed for energy efficiency. It provides with low power consumption and hence offers cost saving measures. The use of automatic light dimming is an aspect of smart lighting that serves to reduce energy consumption and saves cost. One of the most common applications of smart lighting includes commercial and industrial buildings. Lighting accounts for 20% to 50% of the global consumption of energy. Lightings in commercial and industrial buildings contribute to around 40% of the total energy expenditure.
Major factors driving the smart indoor lighting market are the energy saving concerns and its advantages such as low maintenance cost, longer endurance and low power consumption are the factors responsible for the growth of smart indoor lighting market. The decreasing prices of LED components is another. The smart indoor lighting market has been segmented on the basis of light source, product type, communication technology and application. The application segment is further bifurcated into commercial, industrial and residential. Remote monitoring and automated lighting controls are driving the growth of smart lightings in residential and other indoor application segments.
The global smart indoor lighting market is expected to grow at approx. USD 8 Billion by 2023, at 27% of CAGR between 2017 and 2023.
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- Philips Lighting (The Netherlands),
- Acuity Brands Lighting, Inc. (U.S.),
- General Electric Company (U.S.),
- OSRAM Licht AG (Germany),
- Honeywell International (U.S.),
- Cooper Industries, Inc. (Ireland),
- Digital Lumens, Inc. (U.S.),
- Legrand S.A. (France),
- Lutron Electronics Company, Inc. (U.S.),
- Schneider Electric SE (France), among others.
Study Objectives of Smart Indoor Lighting Market:
- To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the smart indoor lighting market.
- To provide insights about factors affecting the market growth.
- To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, and Rest of the World (ROW).
- To provide country level analysis of the market with respect to the current market size and future perspective.
- To provide country level analysis of the market for segmentation on the basis of light source, product type, communication technology and application.
- To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for smart indoor lighting
- To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the smart indoor lighting
Smart indoor lighting market can be segmented on the basis of following:
By Light Source
- Fluorescent Lamps
- Light Emitting Diodes
- High Intensity Discharge Lamps
By Product Type
- LuminariesSmart Bulbs
- Lighting ControlsLed Drivers & Ballasts
- Switches & Dimmers
- Relay Units
By Communication Technology
- Wired Communication TechnologiesDigital Addressable Lighting Interface
- Powerline Communication
- Power Over Ethernet
- Wired Hybrid Protocols
- Wireless Communication TechnologiesZigBee
- Wireless Hybrid Protocols
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The regional analysis of smart indoor lighting market is being studied for regions such as Asia Pacific, North America, Europe and Rest of the World. It has been observed that Europe is estimated to account for the largest share of the market followed by North America, whereas Asia-Pacific is projected to grow at the fastest rate during the forecast period. The major growth in smart indoor lighting market in Europe attributes to the technical advancements and increasing investments in infrastructure modernization projects in that region.
- Technology investors
- Research/Consultancy firms
- Technology providers
- Residential end-users
- Commercial end-users
- Industrial end-users
- Government bodies
We are thankful for the support and assistance from Smart Indoor Lighting Market Research Report- Global Forecast 2023 chain related technical experts and marketing experts during Research Team survey and interviews.
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