HOME Top Market Reports Smart Lighting Market by Offering (Hardware (Lights & Luminaires, Lighting Controls), Software, and Services), Communication Technology (Wired and Wireless), Installation Type, Application Type, and Geography - Global Forecast to 2023

Smart Lighting Market by Offering (Hardware (Lights & Luminaires, Lighting Controls), Software, and Services), Communication Technology (Wired and Wireless), Installation Type, Application Type, and Geography - Global Forecast to 2023

By: marketsandmarkets.com
Publishing Date: February 2018
Report Code: SE 2506

 

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The overall smart lighting market was valued at USD 6.32 Billion in 2017 and is estimated to reach USD 20.98 Billion by 2023, at a CAGR of 21.50% during the forecast period. The base year for this report is 2017, and the forecast period considered is between 2018 and 2023. The major factors driving the growth of the smart lighting market include the modernization and development of infrastructure to transform cities into smart cities, increased demand for intelligent solutions for street lighting systems, need for energy-efficient lighting systems, increasing adoption and decreasing cost of LEDs, and growing awareness about energy savings among consumers and governments worldwide.

The report aims at estimating the size and growth potential of the smart lighting market based on offering, communication technology, installation type, application type, and geography. The report analyzes the structure of the market by segmenting the smart lighting market on the basis of the said segments. It aims at identifying the major trends in the smart lighting industry along with the factors driving or restraining the growth of the smart lighting market and its various submarkets. Moreover, this report analyzes the value chain of the smart lighting ecosystem. Furthermore, the report analyzes opportunities in the market for stakeholders by identifying the high-growth segments in the smart lighting market, strategically profiles the key market players, and comprehensively analyzes their market share and core competencies in each segment.

The research methodology used to estimate and forecast the smart lighting market begins with obtaining data regarding the key vendor revenues through secondary research. Some of the secondary sources referred to for this research include The Lighting Industry Association (Europe), American Lighting Association (US), Global Lighting Association, Lighting Controls Associations, and the Federal Highway Administration (FHWA). The vendor offerings have also been taken into consideration to determine the market segmentation. The bottom-up procedure has been employed to arrive at the overall smart lighting market size using the revenues of the key players. After arriving at the overall market size, the total market has been split into several segments that have then been verified through primary research by conducting extensive interviews with key industry experts such as CEOs, VPs, directors, and executives. The market breakdown and data triangulation procedure have been employed to complete the overall market engineering process and arrive at the exact statistics for all segments.

The breakdown of primary participants has been depict

Smart Lighting Market

To know about the assumptions considered for the study, download the pdf brochure

The smart lighting ecosystem includes original equipment manufacturers (OEMs) such as Acuity Brands (US), Honeywell (US), Philips (Netherlands), Cree (US), Legrand (France), and OSRAM (Germany). Key software providers in the market include Philips (Netherlands), Zumtobel Group (Austria), and SoftDel (US). Moreover, key technology providers include Control4 Corporation (US), Siemens (Germany), Ingersoll-Rand (US), and General Electric (US).

Target Audience of Report:

The intended audience for this report includes:

  • Semiconductor and electronic component manufacturers and distributors
  • Sensor manufacturers and distributors
  • Raw material and manufacturing equipment suppliers
  • Original equipment manufacturers (OEMs)
  • Technology solution providers
  • Technology standards organizations, forums, alliances, and associations
  • Government bodies, venture capitalists, and private equity firms
  • System integrators
  • Technology investors
  • Lighting and lighting control system manufacturers
  • Lighting control system manufacturers
  • Value-added resellers
  • Research organizations

Scope of the Report

In this report, the smart lighting market has been segmented on the basis of offering, connectivity technology, application type, installation type, and geography. To provide a holistic picture, the current market demands and forecasts have been included in the report. The research report segments the smart lighting market as follows:

By Offering:

  • Hardware
    • Lights and Luminaires
    • Lighting Controls
  • Software
  • Services
    • Design and Engineering
    • Installation
    • Post-Installation

By Communication Technology:

  • Wired Technology
  • Wireless Technology

By Application Type:

  • Indoor Application
    • Residential
    • Commercial
    • Industrial
  • Outdoor Application
    • Highways and Roadways
    • Architectural
    • Public Places

By Installation Type:

  • New Installation
  • Retrofit Installation

By Region:

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Rest of Europe
  • Asia Pacific (APAC)
    • China
    • Japan
    • India
    • Australasia
    • Rest of APAC
  • Rest of the World (RoW)
    • Middle East
    • Africa
    • South America

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report:

  • Company information: Detailed analysis and profiling of additional 5 market players

Table of Contents

1 Introduction (Page No. - 15)
    1.1 Objectives of Study
    1.2 Definition
    1.3 Scope of Study
           1.3.1 Markets Covered
           1.3.2 Geographic Scope
           1.3.3 Years Considered for Study
    1.4 Currency
    1.5 Package Size
    1.6 Limitations
    1.7 Stakeholders

2 Research Methodology (Page No. - 19)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primaries
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Market Breakdown & Data Triangulation
    2.4 Research Assumptions

3 Executive Summary (Page No. - 27)

4 Premium Insights (Page No. - 32)
    4.1 Attractive Opportunities for Smart Lighting Market
    4.2 Smart Lighting Market for Services
    4.3 Smart Lighting Market for Hardware
    4.4 Smart Lighting Market for Indoor Application
    4.5 Smart Lighting Market for Lighting Control
    4.6 Smart Lighting Market for Wired Communication Technology
    4.7 Smart Lighting Market in APAC for Outdoor Application
    4.8 Country-Wise Analysis of Smart Lighting Market

5 Market Overview (Page No. - 38)
    5.1 Market Dynamics
           5.1.1 Drivers
                    5.1.1.1 Modernization and Development of Infrastructure to Transform Cities Into Smart Cities
                    5.1.1.2 Increased Demand for Intelligent Solutions for Street Lighting Systems
                    5.1.1.3 Need for Energy-Efficient Lighting Systems
                    5.1.1.4 Increasing Penetration and Decreasing Cost of LEDs
                    5.1.1.5 Growing Awareness About Energy Savings Among Consumers and Governments Worldwide
           5.1.2 Restraints
                    5.1.2.1 Perception of Higher Costs of Installation and Limited Awareness About Payback Periods
                    5.1.2.2 Security and Privacy Issues in Smart Lighting Systems
           5.1.3 Opportunities
                    5.1.3.1 Advancement of Wireless Communication Technology for Smart Lighting Systems
                    5.1.3.2 Increasing Number of Smart City Projects
                    5.1.3.3 Development of IoT Technology for Smart Lighting
           5.1.4 Challenges
                    5.1.4.1 Lack of Universal Open Standards for Aiding Communication Between All IoT Devices

6 Industry Trends (Page No. - 47)
    6.1 Introduction
    6.2 Value Chain Analysis
           6.2.1 Research & Product Development
           6.2.2 Raw Material/Component Providers
           6.2.3 Original Equipment Manufacturers (OEMS)
           6.2.4 Key Technology Providers/System Integrators
           6.2.5 Distributors/Sales Offices
           6.2.6 End Users
    6.3 Key Industry Trends

7 Smart Lighting Market, By Offering (Page No. - 50)
    7.1 Introduction
    7.2 Hardware
           7.2.1 Lights & Luminaires
                    7.2.1.1 Smart Bulbs
                    7.2.1.2 Fixtures
           7.2.2 Lighting Controls
                    7.2.2.1 LED Drivers & Ballasts
                    7.2.2.2 Sensors
                    7.2.2.3 Switches & Dimmers
                               7.2.2.3.1 Switches
                                             7.2.2.3.1.1 Manual On/Off Switches
                                             7.2.2.3.1.2 Electronic Switches
                               7.2.2.3.2 Dimmers
                                             7.2.2.3.2.1 Wired Dimmers
                                             7.2.2.3.2.2 Wireless Dimmers
                    7.2.2.4 Relay Units
                    7.2.2.5 Gateways
    7.3 Software
           7.3.1 Local/Web-Based Software
           7.3.2 Cloud-Based Software
    7.4 Services
           7.4.1 Design & Engineering
           7.4.2 Installation Services
           7.4.3 Post-Installation Services

8 Smart Lighting Market, By Communication Technology (Page No. - 60)
    8.1 Introduction
    8.2 Wired Technology
           8.2.1 Digital Addressable Lighting Interface
           8.2.2 Power-Line Communication
           8.2.3 Power Over Ethernet
           8.2.4 Wired Hybrid Protocols
    8.3 Wireless Technology
           8.3.1 Zigbee
           8.3.2 Bluetooth/Bluetooth Low Energy
           8.3.3 Enocean
           8.3.4 Wi-Fi
           8.3.5 6lowpan
           8.3.6 Wireless Hybrid Protocols

9 Smart Lighting Market, By Application Type (Page No. - 68)
    9.1 Introduction
    9.2 Indoor Application
           9.2.1 Residential
           9.2.2 Commercial
                    9.2.2.1 Retail
                    9.2.2.2 Hospitality
                    9.2.2.3 Office Lighting
           9.2.3 Industrial
    9.3 Outdoor Application
           9.3.1 Highways & Roadways
                    9.3.1.1 Highways
                    9.3.1.2 Street & Roadways
                    9.3.1.3 Tunnels & Bridges
           9.3.2 Architectural
           9.3.3 Public Places

10 Smart Lighting Market, By Installation Type (Page No. - 78)
     10.1 Introduction
     10.2 New Installation
     10.3 Retrofit Installation

11 Geographic Analysis (Page No. - 82)
     11.1 Introduction
     11.2 North America
             11.2.1 US
             11.2.2 Canada
             11.2.3 Mexico
     11.3 Europe
             11.3.1 Germany
             11.3.2 France
             11.3.3 UK
             11.3.4 Italy
             11.3.5 Rest of Europe
     11.4 APAC
             11.4.1 China
             11.4.2 Japan
             11.4.3 India
             11.4.4 Australasia
             11.4.5 Rest of APAC
     11.5 RoW
             11.5.1 Middle East
             11.5.2 Africa
             11.5.3 South America

12 Competitive Landscape (Page No. - 110)
     12.1 Introduction
     12.2 Ranking of Market Players, 2017
     12.3 Competitive Scenario & Trends
             12.3.1 Product Launches& Developments
             12.3.2 Partnerships, Contracts, Agreements, & Collaborations
             12.3.3 Mergers & Acquisitions

13 Company Profiles (Page No. - 116)
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View)*
     13.1 Key Players
             13.1.1 Philips Lighting
             13.1.2 Acuity Brands
             13.1.3 Osram
             13.1.4 Cree
             13.1.5 General Electric (GE + Current)
             13.1.6 Eaton
             13.1.7 Honeywell
             13.1.8 Legrand
             13.1.9 Hubbell Lighting
             13.1.10 Zumtobel Group
             13.1.11 Hafele Group
             13.1.12 Lutron Electronics
             13.1.13 Wipro Consumer Care and Lighting
             13.1.14 Streetlight.Vision
             13.1.15 Virtual Extension
             13.1.16 Syska LED
             13.1.17 Leviton Manufacturing
     13.2 Startup Ecosystem
             13.2.1 Switchmate, Inc.
             13.2.2 Gooee
             13.2.3 Lifx
             13.2.4 Isotera
             13.2.5 Ketra
             13.2.6 Tao Light
             13.2.7 Nualight Limited

*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View Might Not Be Captured in Case of Unlisted Companies.

14 Appendix (Page No. - 160)
     14.1 Insights of Industry Experts
     14.2 Discussion Guide
     14.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     14.4 Introducing RT: Real-Time Market Intelligence
     14.5 Available Customizations
     14.6 Related Reports
     14.7 Author Details


List of Tables (68 Tables)

Table 1 Smart Lighting Market, By Offering, 2015–2023 (USD Billion)
Table 2 Smart Lighting Market for Hardware, By Component, 2015–2023 (USD Billion)
Table 3 Smart Lighting Market for Hardware, By Region, 2015–2023 (USD Billion)
Table 4 Smart Lighting Market for Lighting Controls, By Component, 2015–2023 (USD Billion)
Table 5 Smart Lighting Market for Lighting Controls, By Component, 2015–2023 (Million Units)
Table 6 Smart Lighting Market for Software, By Region, 2015–2023 (USD Billion)
Table 7 Smart Lighting Market for Services, By Service Type, 2015–2023 (USD Billion)
Table 8 Smart Lighting Market for Services, By Region, 2015–2023 (USD Billion)
Table 9 Smart Lighting Market, By Communication Technology, 2015–2023 (USD Billion)
Table 10 Smart Lighting Market for Wired Communication Technology, By Type, 2015–2023 (USD Billion)
Table 11 Smart Lighting Market for Wired Communication Technology, By Region, 2015–2023 (USD Billion)
Table 12 Smart Lighting Market for By Wireless Communication Technology, By Type, 2015–2023 (USD Billion)
Table 13 Smart Lighting Market for Wireless Communication Technology, By Region, 2015–2023 (USD Billion)
Table 14 Smart Lighting Market, By Application Type, 2015–2023 (USD Billion)
Table 15 Smart Lighting Market for Indoor Application, By Type, 2015–2023 (USD Billion)
Table 16 Smart Lighting Market for Indoor Application, By Region, 2015–2023 (USD Billion)
Table 17 Indoor Smart Lighting Market for Residential Application, By Region, 2015–2023 (USD Billion)
Table 18 Indoor Smart Lighting Market for Commercial Application, By Region, 2015–2023 (USD Billion)
Table 19 Indoor Smart Lighting Market for Industrial Application, By Region, 2015–2023 (USD Billion)
Table 20 Smart Lighting Market for Outdoor Application, By Type, 2015–2023 (USD Billion)
Table 21 Smart Lighting Market for Outdoor Application, By Region, 2015–2023 (USD Billion)
Table 22 Outdoor Smart Lighting Market for Highways and Roadways Application, By Region, 2015–2023 (USD Billion)
Table 23 Outdoor Smart Lighting Market for Architectural Application, By Region, 2015–2023 (USD Billion)
Table 24 Outdoor Smart Lighting Market for Public Place Application, By Region, 2015–2023 (USD Billion)
Table 25 Smart Lighting Market, By Installation Type, 2015–2023 (USD Billion)
Table 26 Smart Lighting Market for New Installation, By Region, 2015–2023 (USD Billion)
Table 27 Smart Lighting Market for Retrofit Installation, By Region, 2015–2023 (USD Billion)
Table 28 Smart Lighting Market, By Region, 2015–2023 (USD Billion)
Table 29 Smart Lighting Market in North America, By Offering, 2015–2023 (USD Billion)
Table 30 Smart Lighting Market in North America for Hardware, By Component, 2015–2023 (USD Billion)
Table 31 Smart Lighting Market in North America for Services, By Service Type, 2015–2023 (USD Billion)
Table 32 Smart Lighting Market in North America, By Communication Technology, 2015–2023 (USD Billion)
Table 33 Smart Lighting Market in North America, By Application Type, 2015–2023 (USD Billion)
Table 34 Smart Lighting Market in North America for Indoor Application, By Type, 2015–2023 (USD Billion)
Table 35 Smart Lighting Market in North America for Outdoor Application, By Type, 2015–2023 (USD Billion)
Table 36 Smart Lighting Market in North America, By Installation Type, 2015–2023 (USD Billion)
Table 37 Smart Lighting Market in North America, By Country, 2015–2023 (USD Billion)
Table 38 Smart Lighting Market in Europe, By Offering, 2015–2023 (USD Billion)
Table 39 Smart Lighting Market in Europe for Hardware, By Component, 2015–2023 (USD Billion)
Table 40 Smart Lighting Market in Europe for Services, By Service Type, 2015–2023 (USD Billion)
Table 41 Smart Lighting Market in Europe, By Communication Technology, 2015–2023 (USD Billion)
Table 42 Smart Lighting Market in Europe, By Application Type, 2015–2023 (USD Billion)
Table 43 Smart Lighting Market in Europe for Indoor Application, By Type, 2015–2023 (USD Billion)
Table 44 Smart Lighting Market in Europe for Outdoor Application, By Type, 2015–2023 (USD Billion)
Table 45 Smart Lighting Market in Europe, By Installation Type, 2015–2023 (USD Billion)
Table 46 Smart Lighting Market in Europe, By Country, 2015–2023 (USD Billion)
Table 47 Smart Lighting Market in APAC, By Offering, 2015–2023 (USD Billion)
Table 48 Smart Lighting Market in APAC for Hardware, Based on Component, 2015–2023 (USD Billion)
Table 49 Smart Lighting Market in APAC for Services, By Service Type, 2015–2023 (USD Billion)
Table 50 Smart Lighting Market in APAC, By Communication Technology, 2015–2023 (USD Billion)
Table 51 Smart Lighting Market in APAC, By Application Type, 2015–2023 (USD Billion)
Table 52 Smart Lighting Market in APAC for Indoor Application, By Type, 2015–2023 (USD Billion)
Table 53 Smart Lighting Market in APAC for Outdoor Application, By Type, 2015–2023 (USD Billion)
Table 54 Smart Lighting Market in APAC, By Installation, 2015–2023 (USD Billion)
Table 55 Smart Lighting Market in APAC, By Country, 2015–2023 (USD Billion)
Table 56 Smart Lighting Market in RoW, By Offering, 2015–2023 (USD Billion)
Table 57 Smart Lighting Market in RoW for Hardware, By Component, 2015–2023 (USD Billion)
Table 58 Smart Lighting Market in RoW for Services, By Service Type, 2015–2023 (USD Billion)
Table 59 Smart Lighting Market in RoW, By Communication Technology, 2015–2023 (USD Billion)
Table 60 Smart Lighting Market in RoW, By Application Type, 2015–2023 (USD Billion)
Table 61 Smart Lighting Market in RoW for Indoor Application, By Type, 2015–2023 (USD Billion)
Table 62 Smart Lighting Market in RoW for Outdoor Application, By Type, 2015–2023 (USD Billion)
Table 63 Smart Lighting Market in RoW, By Installation Type, 2015–2023 (USD Billion)
Table 64 Smart Lighting Market in RoW, By Region, 2015–2023 (USD Billion)
Table 65 Market Ranking: Smart Lighting Market, 2017
Table 66 New Product Launches and Developments in Smart Lighting Market, 2014–2017
Table 67 Partnerships, Contract, Agreements, and Collaborations in Smart Lighting Market, 2015 and 2016
Table 68 Mergers and Acquisitions in Smart Lighting Market, 2015 and 2017


List of Figures (50 Figures)

Figure 1 Smart Lighting Market Segmentation
Figure 2 Smart Lighting Market: Research Design
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
Figure 5 Data Triangulation
Figure 6 Wired Communication Technology Held Larger Size of Smart Lighting Market in 2018
Figure 7 Smart Lighting Market for Services to Grow at Highest CAGR During Forecast Period
Figure 8 Smart Lighting Market for Zigbee Wireless Protocol to Grow at Highest CAGR During Forecast Period
Figure 9 Indoor Application to Hold Larger Size of Smart Lighting Market During Forecast Period
Figure 10 Smart Lighting Market for New Installation to Grow at Higher CAGR During Forecast Period
Figure 11 Europe Held Largest Share of Smart Lighting Market in 2017
Figure 12 Requirement of Energy-Efficient Lighting Would Drive Growth of Smart Lighting Market During Forecast Period
Figure 13 Smart Lighting Market for Post-Installation Services to Grow at Highest CAGR During 2018–2023
Figure 14 Lights and Luminaires to Hold Larger Share of Smart Lighting Market for Hardware in 2018
Figure 15 Smart Lighting Market for Residential Application to Grow at Highest CAGR During 2018–2023
Figure 16 LED Drivers and Ballasts to Hold Largest Share of Smart Lighting Market for Lighting Control Hardware During Forecast Period
Figure 17 Digital Addressable Lighting Interface to Hold Largest Share of Smart Lighting Market for Wired Communication Technology During Forecast Period
Figure 18 China Estimated to Hold Largest Share of Smart Lighting Market in APAC for Outdoor Application in 2018
Figure 19 US to Hold Largest Share of Smart Lighting Market in 2018
Figure 20 Market Dynamics: Overview
Figure 21 Benefits of Smart Lighting in Street Lighting
Figure 22 Annual Energy Consumption in US Commercial and Industrial Sectors, 2013
Figure 23 Reduction in LED Prices
Figure 24 Smart Lighting Market: Value Chain Analysis
Figure 25 Greater Vertical Integration as Leading Trend Among Key Smart Lighting Market Players
Figure 26 Smart Lighting Market for Services to Grow at Highest CAGR During Forecast Period
Figure 27 Smart Lighting Market for Wireless Communication Technology to Grow at Higher CAGR During Forecast Period
Figure 28 Smart Lighting Market for Outdoor Application to Grow at Higher CAGR During Forecast Period
Figure 29 Smart Lighting Market for New Installation to Grow at Higher CAGR During Forecast Period
Figure 30 Geographic Snapshot: Smart Lighting Market in APAC Expected to Grow at the Highest Rate Between 2018 and 2023
Figure 31 North America: Smart Lighting Market Snapshot
Figure 32 US to Hold Largest Size of Smart Lighting Market in North America By 2023
Figure 33 Europe: Smart Lighting Market Snapshot
Figure 34 Smart Lighting Market in Europe for Indoor Residential Application to Grow at Highest CAGR During Forecast Period
Figure 35 APAC: Smart Lighting Market Snapshot
Figure 36 China to Hold Largest Size of Smart Lighting Market in APAC During Forecast Period
Figure 37 Companies in Smart Lighting Market Adopted Product Launch and Development as Key Growth Strategy
Figure 38 Market Evaluation Framework: Product Launches and Developments Fuelled Growth and Innovation Between 2014 and 2016
Figure 39 Philips Lighting: Company Snapshot
Figure 40 Hafele Group: Company Snapshot
Figure 41 Acuity Brands: Company Snapshot
Figure 42 Osram: Company Snapshot
Figure 43 Wipro Consumer Care and Lighting: Company Snapshot
Figure 44 Eaton: Company Snapshot
Figure 45 Cree: Company Snapshot
Figure 46 Hubbell Lighting: Company Snapshot
Figure 47 General Electric (GE + Current): Company Snapshot
Figure 48 Zumtobel Group: Company Snapshot
Figure 49 Honeywell: Company Snapshot
Figure 50 Legrand S.A.: Company Snapshot

The smart lighting market is estimated to grow from USD 7.93 Billion in 2018 to USD 20.98 Billion by 2023, at a CAGR of 21.50% between 2018 and 2023. The forecast period for this report is considered between 2018 and 2023. The factors driving the smart lighting market include modernization and development of infrastructure to transform cities into smart cities, increased demand for intelligent solutions for street lighting systems, need for energy-efficient lighting systems, increasing adoption and decreasing cost of LEDs, and growing awareness about energy savings among consumers and governments worldwide.

In this report, the smart lighting market has been segmented on the basis of communication technology, offering, application type, installation type, and geography. Among the communication technologies considered in the report, the market for wireless technology is estimated to grow at a higher CAGR during the forecast period. In wireless technology, the use of wires is eliminated, thereby abolishing the need for installation and protection of cables, which noticeably reduces the cost of the wireless smart lighting systems.

The hardware segment is expected to hold the largest share of the market based on offering by 2023 owing to the fact that hardware components are the integral elements of the smart lighting system. Hardware offerings have been further categorized into lights and luminaires; and lighting controls. The lights and luminaires segment includes smart bulbs and fixtures. Moreover, lighting controls include LED drivers and ballasts, sensors, switches and dimmers, relay units, and gateways. Lights and luminaries are the lighting components of the smart lighting systems. These components broadly include smart bulbs such as fluorescent lights, light emitting diodes (LEDs), and high-intensity discharge lamps (HIDs). However, the performance and characteristics of the light source used in lamps depend upon the lighting task being performed. Choosing a right lamp type helps save energy to a great extent.

In the application type segment, indoor application (residential, commercial, and industrial) is expected to hold a larger size of the smart lighting market during the forecast period. In the residential application, smart lighting can be installed according to the requirement of a particular room or an entire house. The incorporation of wireless technology in smart lightings would help the market for residential indoor application to grow at a high rate. The commercial application of smart lighting includes the implementation of these lightings in offices, retail shops, shopping malls, and hospitality infrastructure. Reducing energy consumption has become a major objective for building owners, governments, utilities, and other stakeholders. Replacing existing lights with more energy-efficient lighting sources, such as LEDs, is one of the ways to reduce massive energy consumption, but it is a small-scale solution. On a large scale, energy reduction can be achieved by turning the lights off when not required, optimizing light levels to suit the workers’ needs, and reducing the overall demand for lighting energy. These measures come under smart lighting arrangement, which is the best way to ensure the automatic reduction in energy consumed in lighting task.

Smart Lighting Market

APAC is expected to be the fastest-growing market for smart lighting during the forecast period. The smart lighting market has enormous growth potential in APAC, and these systems are likely to be accepted by consumers as an integral part of a digitalized household. Moreover, the emerging economies of China and India have a positive impact on the overall market in APAC. The increased construction activities in APAC are contributing significantly to the growth of the smart lighting market in the region. The expected construction of ~200 million homes in China and 18 million homes in India is likely to provide several new opportunities for energy-efficient lighting and home automation in the next few years in this region. Rising government expenditure on public infrastructure, increasing the adoption of energy-efficient lighting systems are the major driving factors for the growth of the smart lighting market in APAC.

Some of the major players in the smart lighting market are Philips Lighting (Netherlands), Hafele Group (Germany), Acuity Brands (US), OSRAM (Germany), Cree (US), Hubbell (US), Zumtobel Group (Austria), Honeywell (US), Legrand (France), Eaton (Ireland), Lutron Electronics (US), and General Electric (US).

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