The future of the smart lighting market looks promising with opportunities in the residential and commercial sector. The global smart lighting market is expected to reach an estimated $21.7 billion by 2027 and is forecast to grow at a CAGR of 13% from 2021 to 2027. The major drivers of growth for this market are development of smart cities, increasing wireless technology, and increasing awareness towards energy saving.
Emerging trends, which have a direct impact on the dynamics of the industry, include growing demand for IoT technology in the smart lighting system and emergence of light fidelity (Li-Fi) technology in the field of smart lighting. CREE Inc, AMS, Signify N.V., Zumtobel Group, Savant Systems, Inc., SemiLEDs Corporation are among the major smart lighting manufacturers.
A total of 103 figures / charts and 108 tables are provided in this 195-page report to help in your business decisions. Sample figures with insights are shown below. To learn the scope of benefits, companies researched, and other details of the smart lighting market report, please download the report brochure.
In this market, control system is the largest product, whereas light emitting diode is largest in source type. Growth in various segment of the smart lighting market are given below:
The study includes trends and forecasts for the global smart lighting market by product types, light source, communication technology, application, and region as follows:
By Product [$M shipment analysis for 2016-2027]:
- Smart Bulbs
- Control Systems
- Drivers and ballasts
- Switches and dimmers actuators
- Transmitters and receivers
By Light Source [$M shipment analysis for 2016-2027]:
- Light Emitting Diode
- Fluorescent Lamps
- High-Intensity Discharge Lamps
By Communication Technology [$M shipment analysis for 2016-2027]:
- Digital Addressable Lighting Interface
- Powerline Communication
- Power Over Ethernet
- Wired Hybrid Protocols
By Application [$M shipment analysis for 2016-2027]:
- Indoor Lighting
- Outdoor Lighting
- Highway & Roadway Lighting
- Architectural Lighting
- Lighting for Public Place
By Region [$M shipment analysis for 2016-2027]:
- North America
- United States
- United Kingdom
- Asia Pacific
- South Korea
- The Rest of the World
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 bulb is likely to experience the highest growth in the forecast period supported by growing demand for wireless technologies in smart cities.
Europe is expected to remain the largest market due to the growing standard of living and increasing automation in Germany, France, the and United Kingdom building and construction industries. Asia Pacific is expected to witness highest growth over the forecast period because of increasing government focus towards the growth in infrastructure and development of smart home in China and India.
Features of Smart Lighting Market
- Market Size Estimates:Smart lighting market size estimation in terms of value ($M) shipment.
- Trend And Forecast Analysis:Market trends (2016-2021) and forecast (2022-2027) by various segments and regions.
- Segmentation Analysis:Smart lighting market size by various product types, light source, communication technology, and application in terms of value shipment.
- Regional Analysis:Smart Lighting market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
- Growth Opportunities:Analysis on growth opportunities in different product types, light source, communication technology, application, and regions for smart lighting market.
- Strategic Analysis:This includes M&A, new product development, and competitive landscape for the smart lighting market.
- 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, high-growth opportunities for the 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 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 the smart lighting market?
Q.5 What are the business risks and threats to the smart lighting market?
Q.6 What are emerging trends in this smart lighting market and the reasons behind them?
Q.7 What are some changing demands of customers in the smart lighting market?
Q.8 What are the new developments in the smart lighting market? Which companies are leading these developments?
Q.9 Who are the major players in the smart lighting market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in the smart lighting market, and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M&A activities did take place in the last five years in the smart lighting market?