Market Overview
The rising level of spending on utility in interiors is expected to create traction for the smart indoor lighting market. Reports that oversee the growth of the semiconductors and electronics industry has been offered by Market Research Future, which generates reports on industry verticals stating the market progress and possibilities. An income worth USD 8 billion is anticipated to be achieved at a 27 % CAGR in the coming period.
The expansion of smart indoor lighting is motivated by the low power consumption of the lighting devices. Moreover, the demand for automatic light dimming is expected to encourage the smart indoor lighting market in the approaching period. Also, the need for lower power consumption is another significant factor in powering the development of the smart indoor lighting market in the forecast period.
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Segmental Analysis
The segmental assessment of the smart indoor lighting market is conducted on the basis of the light source, product type, communication technology, application, and region. On the basis of the light source, the smart indoor lighting market is segmented into light-emitting diodes, fluorescent lamps, and high-intensity discharge lamps. By product types, the smart indoor lighting market is segmented into luminaries, fixtures, relay units, lighting controls, LED drivers & ballasts, sensors, smart bulbs, switches & dimmers, gateways. Based on communication technology, the smart indoor lighting market comprises of digital addressable lighting interface, wired communication technologies such as powerline communication, wired hybrid protocols, power over ethernet, and Wireless Communication Technologies which includes ZigBee, enocean, Wi-Fi, Bluetooth, wireless hybrid protocols and others. Based on the application, the smart indoor lighting market is segmented into commercial, residential, industrial and others. Based on the regions, the smart indoor lighting market includes regions such as Asia Pacific, North America, Europe, and other global regions.
Key Players
The noteworthy contenders in the Smart Indoor Lighting Market are Acuity Brands Lighting, Inc. (U.S.), Lutron Electronics Company, Inc. (U.S.), General Electric Company (U.S.), Philips Lighting (The Netherlands), OSRAM Licht AG (Germany), Cooper Industries, Inc. (Ireland), Honeywell International (U.S.), Legrand S.A. (France), Digital Lumens, Inc. (U.S.), Schneider Electric SE (France), among others.
Detailed Regional Analysis
The regional exploration of the smart indoor lighting market covers regions such as Asia Pacific, North America, Europe, and other global regions. As per the study, it has been observed that the European region is appraised to be responsible for the principal share of the smart indoor lighting market followed by the North American region, while the Asia Pacific region is estimated to develop at the fastest rate throughout the forecast period. The key progress of the smart indoor lighting market in the European region is attributed to the technical signs of progress and the growing investments in the infrastructure modernization projects in the Asia Pacific region.
Competitive Analysis
The development of alternate resources is projected to enhance the overall product offering in the coming years. The progress impetus of the market is expected to witness a prolific leap in the approaching years. The availability of better resources and improved accessibility to said resources is expected to create a potential for development in the coming years. The competition in the market is estimated to ramp up in the near future as the user base becomes proliferated with quality products. However, the push of favorable policies laid down by government bodies and trade institutions is anticipated to create an encouraging development rate. The improvement of production resources is expected to further reflect positively on the overall growth scenario of the market. Also, increased availability of funds from investment goliaths and venture capitalists is expected to promote a favorable growth scenario in the market in the approaching period.
LIST OF TABLES
TABLE 1 SMART INDOOR LIGHTING MARKET, BY LIGHT SOURCE
TABLE 2 SMART INDOOR LIGHTING MARKET, BY PRODUCT TYPE
TABLE 3 SMART INDOOR LIGHTING MARKET, BY COMMUNICATION TECHNOLOGY
TABLE 4 SMART INDOOR LIGHTING MARKET, BY APPLICATION
TABLE 5 SMART INDOOR LIGHTING MARKET, BY REGIONS
Continued…….
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LIST OF FIGURES
FIGURE 1 RESEARCH LIGHT SOURCE
FIGURE 2 SMART INDOOR LIGHTING MARKET, BY LIGHT SOURCE (%)
FIGURE 3 SMART INDOOR LIGHTING MARKET, BY PRODUCT TYPE (%)
FIGURE 4 SMART INDOOR LIGHTING MARKET, BY COMMUNICATION TECHNOLOGY (%)
FIGURE 5 SMART INDOOR LIGHTING MARKET, BY APPLICATION (%)
Continued……
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