Energy conservation and greenhouse emissions are among the top most concerns across the globe and Smart Lighting system comes as solutions, by providing user-friendly, Eco Friendly, Cost-effective, and Energy efficient systems. Smart Lighting Systems are anticipated for increased and vast application in day to day life and thus Smart Lighting Systems market is estimated for a remarkable growth in the upcoming years.
The global smart lighting market is all set to shape up for a transformation in the recent future. This transformation will be attributed by the evolution of the Internet of Things (IoT) and Secure Sockets Layer (SSL) since IoT enables easy monitoring and control enabling energy efficiency; manufacturers have started using semiconductors in place of wires and gas to power smart lighting systems. The constantly increasing energy prices and a rise in the demand for energy will drive the need for smart lighting systems.
According to a recent study report published by the Market Research Future, the global smart lighting market is expected to grow at a phenomenal rate of CAGR during 2017 -2027. Smart Lighting Market growth is propelled by the growing awareness about environment benefits of energy efficiency, rising and improving wireless communication technology and growing investment in smart home & cities market among others. However, high installation cost, and lack of skilled expertise are the factors which are hindering the growth of Smart Lighting Market, states the MRFR Research Analyst while commenting upon this deep diving study report, presented through more than 100 market data tables and figures, widely spread over 110 pages.
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Major Key Players
Koninklijke Philips N.V. (Netherland),
Osram GmbH (Germany),
Lutron Electronics Co. Inc. (U.S.),
Legrand S.A. (France),
Daintree Networks (U.S.),
Echelon Corporation (U.S.),
Streetlight Vision (France),
Zumtobel (Austria), and Honeywell (U.S) among others.
The global smart lighting market is expected to grow at a CAGR of approximately 27% during the forecast period 2017-2027.
The global smart lighting market is segmented by type, light source, communication technology, software & service, and application. Based on the type segment, the market consists of smart bulbs, fixtures and lighting control. By the light source, the market consists of a fluorescent light source, LED light source, HID light source, and another light source. By the communication technology segment, the market consists of Wired Communication Technologies and Wireless Communication Technologies. By the software & service, the software is further segmented into smartphone applications and by service into lighting as-a-service. By the application, it is segmented into indoor and outdoor lighting.
The global color detection market is studied in Asia Pacific, North America, Europe, and Rest of the World. It is observed that European region dominated the global smart lighting market in 2014 and is anticipated to maintain its same position in the coming years as well, followed by the North American market. The increased adoption of smart lighting systems as an energy efficient lighting solution is fueling the smart lighting market in this region. Asia Pacific region is expected to be the fastest growing market due to increased usage of smart lighting, availability of raw materials, and low labor cost.
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- Technology Investors
- Research/Consultancy firms
- Technology Solution Providers
- Original Equipment Manufacturers
- Residential end-users
- Commercial end-users
- Industrial end-users
- Government bodies
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