As per the latest report published by Variant Market Research, The Global Smart Light Fixture and Control Market is estimated to reach $126.6 Billion by 2024; growing at a CAGR of 18.9% from 2016 to 2024. Smart light fixture and control units are improving the overall operating efficiency and are one step closer towards saving energy. These light fixtures could be operated remotely through devices such as, remote, smartphones, and often by sound. These fixtures have sensors connected to them, which turns them off when there is no one around, and thus can save a lot of energy. Due to its features like energy saving, easy installation, and control, it is expected to increase its demand globally. They are massively used in various commercial, residential, industrial, and other end user industries.
The global smart light fixture and control market is mainly driven by factors such as increasing adoption of smart lights in commercial and residential spaces, low sensors prices, and easy installation and control. However, huge installation cost for huge establishments is the major hindrance for the growth of the market. Besides, rising government initiatives about low energy consumption globally is likely to gain significant impetus over the upcoming years.
The global smart light fixture and control market is categorized on the basis of lighting type, technology, application, and geography. LED, CFL, plasma lamps, fluorescent lights, and HID lamps are the categorization of lighting type. Segmentation by technology includes fixture, and control. And by application, the classification are residential, commercial, and other applications.
Based on geography, global smart light fixture and control market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico whereas Europe segment consist of UK, Germany, France, Italy, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, South Korea, and Rest of Asia-Pacific, while RoW is bifurcated into South America, Middle East, and Africa.
The key market players operating in the market includes General Electric Company, Philips Lighting, Honeywell International, Schneider Electric SE, Digital Lumens, Inc., StreetLight Vision, Legrand S.A., Acuity Brands Lighting, Inc., Inc., OSRAM Licht AG, and Cooper Industries, Inc. among others.
The key takeaways from the report
- The report will provide detailed analysis of Smart Light Fixture and Control Market with respect to major segments such as lighting type, technology, and application
- The report will include the qualitative and quantitative analysis with market estimation over 2015 – 2024 and compound annual growth rate (CAGR) between 2016 and 2024
- Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
- An exhaustive regional analysis of Smart Light Fixture and Control Market has been included in the report
- Profile of the key players in the Smart Light Fixture and Control Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of Smart Light Fixture and Control Market
Lighting Type Segments
- Fluorescent Lights
- Plasma Lamps
- HID Lamps
- Other Applications
- North America
- ·Rest of Europe
- ·South Korea
- ·Rest of Asia-Pacific
- ·South America
- ·Middle East