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Smart Lighting Market Top Regions Growth, Demand Status 2021: Emerging Status of Top Players, Global Share and Size Forecast to 2024

Summary

This “Smart Lighting Market” report provides a thorough analysis of estimating market size and current trends of industry. The report evaluates the important characteristics of the market development status, upcoming opportunities, and growth rate. The research study diminishes the risks […]

Smart Lighting

This “Smart Lighting Market” report provides a thorough analysis of estimating market size and current trends of industry. The report evaluates the important characteristics of the market development status, upcoming opportunities, and growth rate. The research study diminishes the risks involved in making decisions as well as strategies for companies and individuals interested in the industry. The report includes details of emerging trends, growth history, sales channel, manufacturers profiled in business, market share of product, application and regional scope of industry.

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Market Overview:

  • The smart lighting market is expected to register a CAGR of over 20% during the forecast period (2019 – 2024). Growing demand for the Internet of Things (IoT) technology, wireless optical networking data transmission technology, and the emergence of light fidelity (Li-Fi) technology is resulting in the growth of adoption of smart lighting. Also, the government spendings on smart architectures and rapid urbanization have drawn the attention of the residential, commercial, and industrial users to adopt smart lighting.
  • – The increasing demand for energy-efficient lighting systems is enhancing the adoption of connected and smart lighting, which is, in turn, impacting the growth of the market.
  • – The growing trend of integrating the technology with the lighting system is gaining momentum. For instance, GE’s Link Smart Light product is backed up by an app, Wink, to control lighting from any location, which enhances the consumer experience. Apart from GE, many companies, such as Philips Hue, Samsung Smart Bulb, LG Smart Lamp Lumen Smartbulb, LIFX, and Belkin WeMo, have come up with such technology-integrated lighting products.
  • – The increasing number of issues related to environmental safety is influencing the various governments to research and adopt intelligent lighting which is owing to the growth of the smart lighting market.

    Smart Lighting Market Covers Manufacturers:

  • Cree Inc.
  • Signify N.V.
  • Wipro Limited
  • Eaton Corporation
  • ABB Ltd.
  • Emerson Electric Company
  • STMicroelectronics
  • Microchip Technology Incorporated
  • NXP Semiconductors NV
  • GE Sensing & Inspection Technologies GmbH
  • Universal Lighting Solutions
  • Traxon Technologies

    Scope of the Report:

    Smart lighting is energy-efficient lighting, with light control adjusted to the user’s needs and the applicable regulations. The report considered lighting fixtures, control system and bulbs with different types of light sources and communication technologies.

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    Some of the Key Questions Answered in this Report:

    • Detailed Overview of Smart Lighting Market will help deliver clients and businesses making strategies.
    • Influencing growth factors that are thriving demand and latest trends running in the market.
    • Smart Lighting Market forecast for global market split into segments like region, product, applications, end-user, technology, etc.
    • What trends, challenges and barriers will impact the development and sizing of the Global Smart Lighting Market?
    • SWOT Analysis of each defined key player along with its profile and Porter’s five forces analysis to complement the same.
    • What is the Smart Lighting Market growth momentum or market carries during the forecast period?
    • Which region may tap the highest market share in the coming era?
    • Which application/end-user category or Product Type may seek incremental growth prospects?
    • What focused approach and constraints are holding the Smart Lighting Market demand?

    Key Market Trends:

    Indoor Segment is Expected to Witness a Significant Growth

    – The indoor application has seen significant growth in the smart lighting market and is estimated to have substantial growth over the forecast period. The indoor use of smart lighting includes residential, commercial, and industrial users. The high adoption of connected lighting systems for residential and commercial purposes has resulted in a significant share for indoor application.
    – LEDs inherently offers a higher level of controllability, making it considerably simpler for healthcare services to turn out to be accurate with their light levels, atmosphere, and energy consumption. Connecting and Internet-based control frameworks give a transparent look into operational facilities.
    – As buildings can consume up to 1/3 of global energy demand, it offers one of the most significant opportunities for emission reduction activities. Organizations like The Capital Group and Philips are collaborating for seeking to drive primary goals for indoor smart lights after achieving considerable success in replacing all outdoor lights with LED smart lightings by 2025.

    Asia-Pacific to hold the fastest growing Market Share

    – In recent years, The Asia-Pacific region has seen significant growth in the smart lighting market, and over the forecast period, it is expected to have the highest growth. Creating and developing the smart infrastructure in the region and the scaled establishment of smart lighting framework over the private and commercial sectors, and increasing investments by the government on public infrastructure is increasing the growth of the market in the region.
    – The Indian housing industry is one of the quickest growing sectors of India. Smart City Mission for 100 cities in the country is driving the market for smart lightings.
    – The developing mindfulness concerning the efficiency of smart and connected lighting system among the rising nations, like Japan, China, India, and Singapore in enabling significant cost savings through energy consumption is driving the market in the region.
    – In India, under the Unnat Jeevan by Affordable LEDs and Appliances for All (UJALA) programme, over 25 crores LED bulbs have been successfully distributed in order to save the energy consumption.

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    Target Audience of Smart Lighting Market:

    • Manufacturer / Potential Investors
    • Traders, Distributors, Wholesalers, Retailers, Importers and Exporters.
    • Association and government bodies.

    Key Reasons to Smart Lighting Market Report:

    • Analysing various perspectives of the Smart Lighting market with the help of Porter’s five forces analysis
    • The End User that is expected to dominate the Smart Lighting market is analyzed in detail
    • The regions which are expected to witness fastest growth during the forecast period are analyzed and estimated for growth of Smart Lighting market.
    • Identify the latest developments, market shares and strategies employed by the major market players.
    • Regional analysis of Smart Lighting market studied, during the forecast period
    • The segments that are expected to dominate the Smart Lighting market studied.

    Detailed TOC of Smart Lighting Market Report 2024:

    1 INTRODUCTION
    1.1 Study Deliverables
    1.2 Study Assumptions
    1.3 Scope of the Study

    2 RESEARCH METHODOLOGY

    3 EXECUTIVE SUMMARY

    4 MARKET DYNAMICS
    4.1 Market Overview
    4.2 Introduction to Market Drivers and Restraints
    4.3 Market Drivers
    4.3.1 Development of Smart Buildings and Government Initiatives in Smart City Projects
    4.3.2 Increasing Adoption and Decreasing Cost of LEDs
    4.3.3 Increasing Usage of Wireless Technology
    4.4 Market Restraints
    4.4.1 Higher Costs of Installation
    4.4.2 Security and Privacy Concerns
    4.5 Industry Attractiveness – Porter’s Five Force Analysis
    4.5.1 Threat of New Entrants
    4.5.2 Bargaining Power of Buyers/Consumers
    4.5.3 Bargaining Power of Suppliers
    4.5.4 Threat of Substitute Products
    4.5.5 Intensity of Competitive Rivalry

    5 MARKET SEGMENTATION
    5.1 By Product Type
    5.1.1 Smart Bulbs
    5.1.2 Fixtures
    5.1.3 Control Systems
    5.2 By Light Source
    5.2.1 Light Emitting Diode (LED)
    5.2.2 Fluorescent Lamp
    5.2.3 High-intensity Discharge Lamps (HID)
    5.2.4 Other Light Sources
    5.3 By Communication Technology
    5.3.1 Wired
    5.3.2 Wireless
    5.4 By Application
    5.4.1 Indoor
    5.4.2 Outdoor
    5.5 Geography
    5.5.1 North America
    5.5.1.1 US
    5.5.1.2 Canada
    5.5.2 Europe
    5.5.2.1 Germany
    5.5.2.2 UK
    5.5.2.3 France
    5.5.2.4 Spain
    5.5.2.5 Rest of Europe
    5.5.3 Asia-Pacific
    5.5.3.1 China
    5.5.3.2 India
    5.5.3.3 Japan
    5.5.3.4 Rest of Asia-Pacific
    5.5.4 Latin America
    5.5.4.1 Brazil
    5.5.4.2 Argentina
    5.5.4.3 Mexico
    5.5.4.4 Rest of Latin America
    5.5.5 Middle East & Africa
    5.5.5.1 UAE
    5.5.5.2 Saudi Arabia
    5.5.5.3 South Africa
    5.5.5.4 Rest of Middle East & Africa

    6 COMPETITIVE LANDSCAPE
    6.1 Company Profiles
    6.1.1 Cree Inc.
    6.1.2 Signify N.V.
    6.1.3 Wipro Limited
    6.1.4 Eaton Corporation
    6.1.5 ABB Ltd.
    6.1.6 Emerson Electric Company
    6.1.7 STMicroelectronics
    6.1.8 Microchip Technology Incorporated
    6.1.9 NXP Semiconductors NV
    6.1.10 GE Sensing & Inspection Technologies GmbH
    6.1.11 Universal Lighting Solutions
    6.1.12 Traxon Technologies

    7 INVESTMENTS ANALYSIS

    8 MARKET OPPORTUNITIES AND FUTURE TRENDS

    For Detailed TOC Click Here

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