Table of Content

1 INTRODUCTION 12
1.1 MARKET DEFINITION 12
1.2 STAKEHOLDERS 12
2 EXECUTIVE SUMMARY 13
3 MARKET OVERVIEW 18
3.1 INTRODUCTION 18
3.2 MARKET DYNAMICS 19
3.2.1 DRIVERS 19
3.2.1.1 Rising smart city initiatives globally 19
3.2.1.2 Advancements in Artificial Intelligence (AI) and edge computing technologies 20
3.2.1.3 Establishment of standard and digital protocols by authorized bodies 21
3.2.1.4 Growing demand for Internet of Things (IoT)-integrated smart lighting solutions 21
3.2.1.5 Rising adoption of LED lights and luminaires in outdoor applications 22
3.2.1.6 Increasing incorporation of data analytics into smart lighting 22
3.2.2 RESTRAINTS 23
3.2.2.1 Cybersecurity concerns associated with internet-connected lighting systems 23
3.2.2.2 Difficulties associated with retrofitting of traditional lighting infrastructure 24
3.2.3 OPPORTUNITIES 25
3.2.3.1 Development of solar-powered and hybrid smart lighting solutions 25
3.2.3.2 Emerging smart office and smart retail trends 25
3.2.3.3 Rising adoption of human-centric lighting solutions 26
3.2.3.4 Growing adoption of Power over Ethernet (PoE)-based lighting solutions in commercial and healthcare applications 26
3.2.3.5 Increasing demand for personalized lighting control solutions 26
3.2.4 CHALLENGES 27
3.2.4.1 High upfront costs of equipment and accessories 27
3.2.4.2 Interoperability and compatibility issues 28
3.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 29
3.4 ECOSYSTEM ANALYSIS 29
3.5 TECHNOLOGY ANALYSIS 31
3.5.1 KEY TECHNOLOGIES 31
3.5.1.1 Internet of Things (IoT) 31
3.5.1.2 Communication protocols 32
3.5.1.3 Smart sensors 33
3.5.2 COMPLEMENTARY TECHNOLOGIES 34
3.5.2.1 Artificial Intelligence (AI) and Machine Learning (ML) 34
3.5.2.2 Light fidelity (Li-Fi) 34
3.5.2.3 Geofencing technology 34
3.5.3 ADJACENT TECHNOLOGIES 35
3.5.3.1 Building management system (BMS) 35
3.5.3.2 5G infrastructure 36
3.6 PATENT ANALYSIS 36
3.7 KEY CONFERENCES AND EVENTS, 2025–2026 39
3.8 TARIFF AND REGULATORY LANDSCAPE 40
3.8.1 TARIFF ANALYSIS 40
3.8.2 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 41
3.8.3 REGULATIONS 43
3.8.3.1 Restriction of Hazardous Substances (ROHS) and Waste Electrical and Electronic Equipment (WEEE) 43
3.8.3.2 Registration, Evaluation, Authorisation and Restriction of Chemicals (REACH) 44
3.8.3.3 United Nations Framework Convention on Climate Change (UNFCCC) 44
3.8.3.4 General Data Protection Regulation (GDPR) 44
3.9 PORTER’S FIVE FORCES ANALYSIS 45
3.9.1 INTENSITY OF COMPETITIVE RIVALRY 46
3.9.2 THREAT OF NEW ENTRANTS 46
3.9.3 THREAT OF SUBSTITUTES 46
3.9.4 BARGAINING POWER OF BUYERS 47
3.9.5 BARGAINING POWER OF SUPPLIERS 47
3.10 IMPACT OF AI/GEN AI ON SMART LIGHTING MARKET 47
4 COMPETITIVE LANDSCAPE 49
4.1 OVERVIEW 49
4.2 KEY PLAYER STRATEGIES/RIGHT TO WIN, JANUARY 2021– JANUARY 2025 49
4.3 REVENUE ANALYSIS, 2020–2024 50
4.4 MARKET SHARE ANALYSIS, 2024 51
4.5 COMPANY VALUATION AND FINANCIAL METRICS 54
4.5.1 COMPANY VALUATION 54
4.5.2 FINANCIAL METRICS 54
4.6 BRAND/PRODUCT COMPARISON 55
4.7 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2024 55
4.7.1 STARS 55
4.7.2 EMERGING LEADERS 55
4.7.3 PERVASIVE PLAYERS 56
4.7.4 PARTICIPANTS 56
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4.7.5 COMPANY FOOTPRINT: KEY PLAYERS, 2024 57
4.7.5.1 Company footprint 57
4.7.5.2 Region footprint 58
4.7.5.3 Installation type footprint 59
4.7.5.4 Offering footprint 60
4.7.5.5 End-use application footprint 61
4.7.5.6 Communication technology footprint 62
4.8 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2024 63
4.8.1 PROGRESSIVE COMPANIES 63
4.8.2 RESPONSIVE COMPANIES 63
4.8.3 DYNAMIC COMPANIES 63
4.8.4 STARTING BLOCKS 63
4.8.5 COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2024 65
4.8.5.1 Detailed list of startups/SMEs 65
4.8.5.2 Competitive benchmarking of key startups/SMEs 66
4.9 COMPETITIVE SCENARIO 66
4.9.1 PRODUCT LAUNCHES/DEVELOPMENTS 66
4.9.2 DEALS 74
4.9.3 EXPANSIONS 79
5 COMPANY PROFILES 80
5.1 INTRODUCTION 80
5.2 KEY PLAYERS 80
5.2.1 SIGNIFY HOLDING 80
5.2.1.1 Business overview 80
5.2.1.2 Products/Solutions/Services offered 82
5.2.1.3 Recent developments 86
5.2.1.3.1 Product launches/developments 86
5.2.1.3.2 Deals 89
5.2.1.4 MnM view 90
5.2.1.4.1 Key strengths 90
5.2.1.4.2 Strategic choices 90
5.2.1.4.3 Weaknesses and competitive threats 91
5.2.2 LEGRAND 92
5.2.2.1 Business overview 92
5.2.2.2 Products/Solutions/Services offered 93
5.2.2.3 Recent developments 94
5.2.2.3.1 Product launches/Developments 94
5.2.2.3.2 Deals 95
5.2.2.4 MnM view 95
5.2.2.4.1 Key strengths 95
5.2.2.4.2 Strategic choices 95
5.2.2.4.3 Weaknesses and competitive threats 95
5.2.3 ACUITY BRANDS, INC. 96
5.2.3.1 Business overview 96
5.2.3.2 Products/Solutions/Services offered 97
5.2.3.3 Recent developments 99
5.2.3.3.1 Product launches/developments 99
5.2.3.3.2 Deals 100
5.2.3.4 MnM view 101
5.2.3.4.1 Key strengths 101
5.2.3.4.2 Strategic choices 101
5.2.3.4.3 Weaknesses and competitive threats 101
5.2.4 ZUMTOBEL GROUP 102
5.2.4.1 Business overview 102
5.2.4.2 Products/Solutions/Services offered 103
5.2.4.3 Recent developments 105
5.2.4.3.1 Deals 105
5.2.4.4 MnM view 106
5.2.4.4.1 Key strengths 106
5.2.4.4.2 Strategic choices 106
5.2.4.4.3 Weaknesses and competitive threats 106
5.2.5 PANASONIC HOLDINGS CORPORATION 107
5.2.5.1 Business overview 107
5.2.5.2 Products/Solutions/Services offered 108
5.2.5.3 Recent developments 109
5.2.5.3.1 Expansions 109
5.2.5.4 MnM view 110
5.2.5.4.1 Key strengths 110
5.2.5.4.2 Strategic choices 110
5.2.5.4.3 Weaknesses and competitive threats 110
5.2.6 AMS-OSRAM AG 111
5.2.6.1 Business overview 111
5.2.6.2 Products/Solutions/Services offered 112
5.2.6.3 Recent developments 113
5.2.6.3.1 Product launches/developments 113
5.2.6.3.2 Deals 114
5.2.7 HONEYWELL INTERNATIONAL INC. 115
5.2.7.1 Business overview 115
5.2.7.2 Products/Solutions/Services offered 116
5.2.7.3 Recent developments 118
5.2.7.3.1 Deals 118
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5.2.8 WIPRO LIGHTING 120
5.2.8.1 Business overview 120
5.2.8.2 Products/Solutions/Services offered 120
5.2.8.3 Recent developments 121
5.2.8.3.1 Deals 121
5.2.8.3.2 Expansions 122
5.2.9 LUTRON ELECTRONICS CO., INC 123
5.2.9.1 Business overview 123
5.2.9.2 Products/Solutions/Services offered 123
5.2.9.3 Recent developments 125
5.2.9.3.1 Product launches/developments 125
5.2.10 CREE LIGHTING USA LLC 127
5.2.10.1 Business overview 127
5.2.10.2 Products/Solutions/Services offered 127
5.2.10.3 Recent developments 128
5.2.10.3.1 Product launches/developments 128
5.2.11 LEDVANCE GMBH 129
5.2.11.1 Business overview 129
5.2.11.2 Products/Solutions/Services offered 129
5.2.11.3 Recent developments 130
5.2.11.3.1 Product launches/developments 130
5.2.11.3.2 Deals 131
5.3 OTHER PLAYERS 132
5.3.1 HLI SOLUTIONS, INC. 132
5.3.2 SAVANT SYSTEMS, INC. 133
5.3.3 DIALIGHT 134
5.3.4 SCHNEIDER ELECTRIC 135
5.3.5 ABB 136
5.3.6 LIGHTWAVE 137
5.3.7 RAB LIGHTING INC. 138
5.3.8 SYNAPSE WIRELESS INC. 139
5.3.9 LEVITON MANUFACTURING CO., INC. 140
5.3.10 SYSKA 141
5.3.11 BUILDING ROBOTICS INC. (SIEMENS COMPANY) 141
5.3.12 HELVAR 142
5.3.13 LIFX 143
5.3.14 SENGLED GMBH 144
5.3.15 TVILIGHT PROJECTS B.V. 145
5.3.16 NANOLEAF 146
5.3.17 UBICQUIA, INC. 147
5.3.18 JAQUAR INDIA 148
5.3.19 INTER IKEA SYSTEMS B.V. 149
6 APPENDIX 150
6.1 RESEARCH METHODOLOGY 150
6.1.1 RESEARCH DATA 150
6.1.1.1 Secondary data 151
6.1.1.2 Primary data 152
6.1.2 RESEARCH ASSUMPTIONS 153
6.1.3 RESEARCH LIMITATIONS 153
6.2 COMPANY EVALUATION MATRIX: METHODOLOGY 154
6.3 AUTHOR DETAILS 157



List of Figures

FIGURE 1 GLOBAL SMART LIGHTING MARKET, 2021–2030 (USD MILLION) 13
FIGURE 2 HARDWARE SEGMENT TO LEAD MARKET DURING FORECAST PERIOD 14
FIGURE 3 WIRELESS COMMUNICATION TECHNOLOGY TO RECORD HIGHER CAGR
DURING FORECAST PERIOD 14
FIGURE 4 RETROFIT INSTALLATIONS TO GROW AT HIGHER CAGR DURING FORECAST PERIOD 15
FIGURE 5 INDOOR APPLICATION TO DOMINATE MARKET DURING FORECAST PERIOD 15
FIGURE 6 ONLINE SALES TO GROW AT HIGHER CAGR DURING FORECAST PERIOD 16
FIGURE 7 ASIA PACIFIC HELD LARGEST SHARE OF SMART LIGHTING MARKET IN 2024 16
FIGURE 8 SMART LIGHTING MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES AND CHALLENGES 19
FIGURE 9 SMART LIGHTING MARKET DRIVERS: IMPACT ANALYSIS 23
FIGURE 10 SMART LIGHTING MARKET RESTRAINTS: IMPACT ANALYSIS 24
FIGURE 11 SMART LIGHTING MARKET OPPORTUNITIES: IMPACT ANALYSIS 27
FIGURE 12 SMART LIGHTING MARKET CHALLENGES: IMPACT ANALYSIS 28
FIGURE 13 TRENDS/DISRUPTIONS INFLUENCING CUSTOMER BUSINESS 29
FIGURE 14 SMART LIGHTING ECOSYSTEM ANALYSIS 31
FIGURE 15 SMART LIGHTING MARKET: PATENT ANALYSIS, 2015–2024 37
FIGURE 16 SMART LIGHTING MARKET: PORTER’S FIVE FORCES ANALYSIS 45
FIGURE 17 SMART LIGHTING MARKET: IMPACT OF AI/GEN AI 48
FIGURE 18 SMART LIGHTING MARKET: REVENUE ANALYSIS OF KEY PLAYERS 2020–2024 (USD BILLION) 50
FIGURE 19 SMART LIGHTING MARKET SHARE ANALYSIS, 2024 52
FIGURE 20 SMART LIGHTING MARKET: COMPANY VALUATION, 2024 54
FIGURE 21 SMART LIGHTING MARKET: FINANCIAL METRICS, 2024 54
FIGURE 22 SMART LIGHTING MARKET: BRAND/PRODUCT COMPARISON 55
FIGURE 23 SMART LIGHTING MARKET: COMPANY EVALUATION MATRIX (KEY PLAYERS), 2024 56
FIGURE 24 SMART LIGHTING MARKET: COMPANY FOOTPRINT 57
FIGURE 25 SMART LIGHTING MARKET: COMPANY EVALUATION MATRIX
(STARTUPS/SMES), 2024 64
FIGURE 26 SIGNIFY HOLDING: COMPANY SNAPSHOT 81
FIGURE 27 LEGRAND: COMPANY SNAPSHOT 92
FIGURE 28 ACUITY BRANDS, INC.: COMPANY SNAPSHOT 97
FIGURE 29 ZUMTOBEL GROUP: COMPANY SNAPSHOT 103
FIGURE 30 PANASONIC HOLDINGS CORPORATION: COMPANY SNAPSHOT 108
FIGURE 31 AMS-OSRAM AG: COMPANY SNAPSHOT 112
FIGURE 32 HONEYWELL INTERNATIONAL INC.: COMPANY SNAPSHOT 116
FIGURE 33 SMART LIGHTING MARKET: RESEARCH DESIGN 150

List of Tables

TABLE 1 ROLES OF COMPANIES IN SMART LIGHTING ECOSYSTEM 29
TABLE 2 SMART LIGHTING MARKET: LIST OF MAJOR PATENTS, 2022–2024 37
TABLE 3 SMART LIGHTING MARKET: LIST OF KEY CONFERENCES AND EVENTS, 2025–2026 39
TABLE 4 MFN TARIFF FOR HS CODE 9405-COMPLIANT PRODUCTS, 2023 41
TABLE 5 NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES AND OTHER ORGANIZATIONS 41
TABLE 6 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES AND OTHER ORGANIZATIONS 42
TABLE 7 ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES AND OTHER ORGANIZATIONS 42
TABLE 8 ROW: REGULATORY BODIES, GOVERNMENT AGENCIES AND OTHER ORGANIZATIONS 43
TABLE 9 SMART LIGHTING MARKET: IMPACT ANALYSIS OF PORTER’S FIVE FORCES 46
TABLE 10 SMART LIGHTING MARKET: KEY STRATEGIES ADOPTED BY LEADING PLAYERS, JANUARY 2021–JANUARY 2025 49
TABLE 11 SMART LIGHTING MARKET: DEGREE OF COMPETITION 51
TABLE 12 SMART LIGHTING MARKET: REGION FOOTPRINT 58
TABLE 13 SMART LIGHTING MARKET: INSTALLATION TYPE FOOTPRINT 59
TABLE 14 SMART LIGHTING MARKET: OFFERING FOOTPRINT 60
TABLE 15 SMART LIGHTING MARKET: END-USE APPLICATION FOOTPRINT 61
TABLE 16 SMART LIGHTING MARKET: COMMUNICATION TECHNOLOGY FOOTPRINT 62
TABLE 17 SMART LIGHTING MARKET: DETAILED LIST OF KEY STARTUPS/SMES 65
TABLE 18 SMART LIGHTING MARKET: COMPETITIVE BENCHMARKING OF
KEY STARTUPS/SMES 66
TABLE 19 SMART LIGHTING MARKET: PRODUCT LAUNCHES/DEVELOPMENTS APRIL 2020–JANUARY 2025 66
TABLE 20 SMART LIGHTING MARKET: DEALS, APRIL 2020–JANUARY 2025 74
TABLE 21 SMART LIGHTING MARKET: EXPANSIONS, APRIL 2020–JANUARY 2025 79
TABLE 22 SIGNIFY HOLDING: COMPANY OVERVIEW 81
TABLE 23 SIGNIFY HOLDING: PRODUCTS/SOLUTIONS/SERVICES OFFERED 82
TABLE 24 SIGNIFY HOLDING: PRODUCT LAUNCHES/DEVELOPMENTS 86
TABLE 25 SIGNIFY HOLDING: DEALS 89
TABLE 26 LEGRAND: COMPANY OVERVIEW 92
TABLE 27 LEGRAND: PRODUCTS/SOLUTIONS/SERVICES OFFERED 93
TABLE 28 LEGRAND: PRODUCT LAUNCHES /DEVELOPMENTS 94
TABLE 29 LEGRAND: DEALS 95
TABLE 30 ACUITY BRANDS, INC.: COMPANY OVERVIEW 96
TABLE 31 ACUITY BRANDS, INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 97
TABLE 32 ACUITY BRANDS, INC.: PRODUCT LAUNCHES/DEVELOPMENTS 99
TABLE 33 ACUITY BRANDS, INC.: DEALS 100
TABLE 34 ZUMTOBEL GROUP: COMPANY OVERVIEW 102
TABLE 35 ZUMTOBEL GROUP: PRODUCTS/SOLUTIONS/SERVICES OFFERED 103
TABLE 36 ZUMTOBEL GROUP: DEALS 105
TABLE 37 PANASONIC HOLDINGS CORPORATION: COMPANY OVERVIEW 107
TABLE 38 PANASONIC HOLDINGS CORPORATION:
PRODUCTS/SOLUTIONS/SERVICES OFFERED 108
TABLE 39 PANASONIC HOLDINGS CORPORATION: EXPANSIONS 109
TABLE 40 AMS-OSRAM AG: COMPANY OVERVIEW 111
TABLE 41 AMS-OSRAM AG: PRODUCTS/SOLUTIONS/SERVICES OFFERED 112
TABLE 42 AMS-OSRAM AG: PRODUCT LAUNCHES/DEVELOPMENTS 113
TABLE 43 AMS-OSRAM AG: DEALS 114
TABLE 44 HONEYWELL INTERNATIONAL INC.: COMPANY OVERVIEW 115
TABLE 45 HONEYWELL INTERNATIONAL INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 116
TABLE 46 HONEYWELL INTERNATIONAL INC.: DEALS 118
TABLE 47 WIPRO LIGHTING: COMPANY OVERVIEW 120
TABLE 48 WIPRO LIGHTING: PRODUCTS/SOLUTIONS/SERVICES OFFERED 120
TABLE 49 WIPRO LIGHTING: DEALS 121
TABLE 50 WIPRO LIGHTING: EXPANSIONS 122
TABLE 51 LUTRON ELECTRONICS CO., INC: COMPANY OVERVIEW 123
TABLE 52 LUTRON ELECTRONICS CO., INC: PRODUCTS/SOLUTIONS/SERVICES OFFERED 123
TABLE 53 LUTRON ELECTRONICS CO., INC: PRODUCT LAUNCHES/DEVELOPMENTS 125
TABLE 54 CREE LIGHTING USA LLC: COMPANY OVERVIEW 127
TABLE 55 CREE LIGHTING USA LLC: PRODUCTS/SOLUTIONS/SERVICES OFFERED 127
TABLE 56 CREE LIGHTING USA LLC: PRODUCT LAUNCHES/DEVELOPMENTS 128
TABLE 57 LEDVANCE GMBH: COMPANY OVERVIEW 129
TABLE 58 LEDVANCE GMBH: PRODUCTS/SOLUTIONS/SERVICES OFFERED 129
TABLE 59 LEDVANCE GMBH: PRODUCT LAUNCHES/DEVELOPMENTS 130
TABLE 60 LEDVANCE GMBH: DEALS 131