Smart Lighting Market Research Report
Smart Lighting Market:
The GMI Research's latest analysis reveals that the Smart
Lighting Market is slated to register a significant CAGR over the forecast
period. This is attributed to the growing smart city projects in emerging
countries, the introduction of integrated lighting systems, increasing
awareness regarding the advantages of LEDs, and the reducing price of LEDs.
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Smart Lighting Market’s leading
Manufacturers:
·
Signify Holding
·
Legrand
·
Acuity Brands Lighting, Inc.
·
Eaton Corporation
·
General Electric Company
·
OSRAM GmbH.
·
Leviton Manufacturing Co.
·
Lutron Electronics
·
Zumtobel Group AG
·
Honeywell International Inc.
·
Hubbell Incorporated
Smart Lighting Market Dynamics (including
market size, share, trends, growth, forecast, and industry analysis)
Key
Drivers
The growing smart city projects in emerging countries and
the introduction of integrated lighting systems are the key drivers propelling
the growth of the global smart
lighting market size. Several governments emphasize developing sustainable
smart cities that utilize information and communication technologies (ICTs) and
other means to enhance the quality of life, effectiveness of urban operation
and services while fulfilling the requirements of future and present
generations concerning social, economic, and environmental aspects. For
example, Dubai's government has introduced the "Dubai Plan 2021,"
which focuses on transforming the city into a leading smart city.
According to the smart lighting market analysis, the
increasing awareness regarding the advantages of LEDs, followed by the reducing
price of LEDs, will further surge the growth of the smart lighting market share
in terms of revenue in the upcoming years. The LED lights provide various
benefits, such as have a better lifespan, it is energy-efficient, and works in
severe temperatures. The emergence of integrated lighting systems with
smartphones and the development of several smart home systems like Samsung
SmartThings Hub, Google Assistant, and Amazon Alexa are the emerging smart
lighting market trends that will further attract many customers to opt for
smart lighting systems globally.
According to the smart lighting market forecast, the
outbreak of the COVID-19 has negatively impacted the growth of the smart
lighting market as the stringent lockdown has hindered the raw material
supplies of electronic components owing to the sudden shutdown of manufacturing
plants in China. The increasing interruption in the supply chain is driven by
the decline in demand for smart lighting systems. However, the market is
projected to bounce back in 2021 at a substantial rate from 2022.
Installation
Segment Drivers
On the basis of installation, the global smart lighting
market is segmented into new installation and retrofit installation. The new
installation is anticipated to lead the market over the coming years due to the
strong demand for smart lighting systems across numerous places like corporate
offices, shopping malls, parking spaces, and homes. In addition to this, the
development of wireless technologies and the rapid development in electronics
and sensor technology have become mandatory for the customers to opt for smart
lighting systems. All these factors are contributing to the growth of the
market during the forecast period.
Smart Lighting Market Segmentation:
Segmentation
by Installation Type:
·
New Installations
·
Retrofit Installations
Segmentation
by Offering:
·
Hardware
o
Lights
& Luminaries
§
Smart
Bulbs
§
Fixtures
o
Lighting
Controls
§
LED
Drivers & Ballasts
§
Sensors
§
Switches
·
Manual
On/Off Switches
·
Electronic Switches
§
Dimmers
·
Wired
Dimmers
·
Wireless
Dimmers
§
Relay
Units
§
Gateways
·
Software
o
Local/Web-Based Software
o
Cloud-Based Software
·
Services
o
Pre-installation Services
o
Post-installation Services
Segmentation
by End-Use Application:
·
Indoor
o
Residential
o
Commercial
§
Retail
§
Hospitality
§
Office
Lighting
o
Industrial
o
Others
·
Outdoor
o
Highways
& Roadways Lighting
o
Architectural Lighting
o
Lighting
for Public Places
Segmentation
by Communication Technology:
·
Wired Technology
o
DALI
o
Power
Over Ethernet (PoE)
o
Wired
Hybrid Protocols
·
Wireless
o
ZigBEE
o
Wi-Fi
o
BLE
o
EnOcean
o
6LoWPAN
o
Wireless
Hybrid Protocols
Segmentation
by Region:
·
North America
o
United States of America
o
Canada
·
Asia Pacific
o
China
o
Japan
o
India
o
Rest of APAC
·
Europe
o
United Kingdom
o
Germany
o
France
o
Spain
o
Rest of Europe
·
RoW
o
Brazil
o
South Africa
o
Saudi Arabia
o
UAE
o
Rest of the world (remaining countries of the
LAMEA region)
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