Outdoor LED Smart Lighting Solution Market – Overview
The escalation in concerns relating to security and the need to use lights to enhance exteriors is spurring the outdoor LED smart lighting solutions. Reports that evaluate the semiconductors and electronics industry have been made available by Market Research Future which creates reports on several industry verticals that review the market growth and prospects. The market is projected to achieve revenues valued at USD 8 billion while expanding at 12 % CAGR in the forecast period.
The energy efficiencies and the cost savings that can be achieved by the use of outdoor LED smart lighting is expected to pick up the pace in the forecast period. The digitization of infrastructure in commercial and residential sectors is likely to accelerate the progress of the outdoor LED lighting solution market in the coming years. Moreover, the prevalence of Internet of Things in the lighting sector is expected to further improve the expansion of the Outdoor LED Smart Lighting Solution Market in the forecast period.
Industry Updates:
Mar 2019 Delta Electronics, Inc., a supplier of power and thermal management solutions, and Amerlux, LLC, a U.S.-based LED architectural lighting solutions firm, has announced the signing of a definitive contract pursuant to which Delta Electronics (Netherlands) B.V., which is a wholly-owned subsidiary of Delta, will acquire 100% of Amerlux’s interests for USD 90 million. Amerlux supplies pioneering high-end indoor and outdoor luminaires.
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Key Players
The prominent players in the outdoor LED smart lighting solutions are Philips Lighting Holding B.V. (Netherlands), Acuity Brands, Inc. (U.S.), General Electric (U.S.), Osram Licht AG (Germany), Honeywell International Inc. (U.S.), Cooper Industries, Inc. (U.S.), Schneider Electric SE (France), Digital Lumens, Inc. (U.S.), Streetlight. Vision (France), Lutron Electronics Company, Inc. (U.S.), among others.
Segmental Analysis
The segmentation of the outdoor LED smart lighting solution market is carried out on the basis of component, region, communication technology, and application. On the basis of component, the outdoor LED smart lighting solution market is segmented into hardware, software, and service. Based on communication technology, the outdoor LED smart lighting solution market is segmented into wired and wireless. Based on the applications, the outdoor LED smart lighting solution market is segmented into stadium, parking, waterways, and streetlight. The regions involved in the segmentation of the outdoor LED smart lighting solution market are Asia Pacific, Europe, the Americas, and the rest of the world.
Detailed Regional Analysis
The regional study of the outdoor LED smart lighting solution market comprises of regions such as Asia Pacific, Europe, the Americas, and the rest of the world. The rapid development of IOT throughout diverse industries has motivated the market for outdoor LED smart lighting solution market. The North American region’s supremacy in the market can be contributed to the high adoption of technology and growing endeavor to control the hazardous influence of electricity consumption on the environment. However, the developing economies in the Asia Pacific region and the rest of the world will create rewarding prospects in the market globally. The European region is also among the major leaders in the market because of the smart LED solutions in diverse application segments such as industrial, commercial, outdoor and residential segment.
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Intended Audience
- Investors and consultants
- System Integrators
- Government Organizations
- Research/Consultancy firms
- Technology solution providers
- LED Manufacturers
- Smart Lighting Solution Providers
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