According to a new market report published by Lucintel, the future of the smart lighting market looks promising with opportunities in the residential and commercial sectors. The global smart lighting market is expected to reach an estimated $17.7 billion by 2022 and is forecast to grow at a CAGR of 23.9% from 2017 to 2022. The major drivers of growth for this market are development of smart cities, increasing usage of wireless technology, and increasing awareness of energy saving.
Emerging trends, which have a direct impact on the dynamics of the smart lighting industry, include growing demand for Internet of things (IoT) technology and emergence of light fidelity (Li-Fi) technology in the field of smart lighting market.
A total of 84 figures / charts and 107 tables are provided in this 145-page report to help in your business decisions. Sample figures with some insights are shown below. To learn the scope of, benefits, companies researched and other details of smart lighting market report, download the report brochure.
Smart Lighting Market Trends
Smart Lighting Market Forecast
Growth Opportunities for Global Smart Light Market by Light Source
The study includes smart lighting market size and forecast for the global smart lighting market through 2022 segmented by product types, light source, communication technology, application, and region as follows:
Smart lighting market by product type [$M shipment analysis for 2011 – 2022]:
Smart Bulbs Fixtures Control Systems Drivers and ballasts Switches and dimmers actuators Sensors Microcontrollers Transmitters and receivers
Smart lighting market by Light Source [$M shipment analysis for 2011 – 2022]:
Light Emitting Diode Fluorescent Lamps High-Intensity Discharge Lamps Others
Smart lighting market by Communication Technology [$M shipment analysis for 2011 – 2022]:
Wired Digital Addressable Lighting Interface Powerline Communication Power Over Ethernet Wired Hybrid Protocols Others Wireless Zigbee Bluetooth Enocean Wi-Fi Others
Smart lighting market by Application [$M shipment analysis for 2011 – 2022]:
Indoor Lighting Commercial Industrial Residential Others Outdoor Lighting Highway & Roadway Lighting Architectural Lighting Lighting for Public Place Others
Smart lighting market by Region [$M shipment analysis for 2011 – 2022]:
North America Europe Asia Pacific Rest of World
Smart lighting companies profiled in this market report include Philips Lighting, Osram Licht AG, Zumtobel Group, CREE Inc, General Electric Company, Digital Lumens, SemiLEDs Corporation, Schneider Electric SE.
Lucintel forecasts that the control system is expected to remain the largest segment due to growth in home automation and to improve energy efficiency. Lucintel predicts that the demand for smart bulbs is likely to experience the highest growth in the forecast period supported by growing demand for wireless technologies in smart cities.
Within the smart lighting market, light emitting diodes (LEDs) are expected to remain the largest market and are expected to witness the highest growth over the forecast period. Declining cost of LEDs, low maintenance, and high energy efficiency are expected to spur the growth of this segment over the forecast period.
Europe is expected to remain the largest market due to increasing standard of living and increasing building automation in Germany, France, and United Kingdom.
Some of the features of “Growth Opportunities for Global Smart Lighting Market 2017-2022: Trends, Forecast, and Opportunity Analysis” include:
Market size estimates: Global smart lighting market size estimation in terms of value ($M) shipment.Trend and forecast analysis: Market trend (2011-2016) and forecast (2017-2022) by segments and region.Segmentation analysis: Global smart lighting market size by various applications such as light source, communication technology, and application in terms of value shipmentGrowth opportunities: Analysis on growth opportunities in different applications.Strategic analysis: This includes M&A, new product development, competitive landscape, and expansion strategies of smart lighting market suppliers. Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
This report answers following 11 key questions:
Q.1 What are some of the most promising potential, high-growth opportunities for the global smart lighting market by products (smart bulbs, fixtures, control systems), by light source (light emitting diode, fluorescent lamps, high-intensity discharge lamps, and others), by application (indoor lights and outdoor lights), by communication technology (wired and wireless) and by region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of companies profiled in smart lighting market report include ?
Q.5 What are the business risks and threats to the market?
Q.6 What are emerging trends in this market and the reasons behind them?
Q.7 What are some changing demands of customers in companies profiled in smart lighting market report include ?
Q.8 What are the new developments in the market? Which smart lighting companies are leading these developments?
Q.9 Who are the major smart lighting suppliers? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes of smart lighting companies in this area and how big of a threat do they pose for loss of market share via materials / product substitution
Q.11 What M & A activities have occurred in the last 5 years in this market?