Smart Lighting Market

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

Report Code: SE 2506 Oct, 2019, by marketsandmarkets.com
Updated date -

Smart Lighting Market is expected to witness high growth during the forecast period. The market is estimated to grow from USD 7.9 billion in 2018 to USD 21.0 billion by 2023, growing at a compound annual growth rate (CAGR) of 21.5% during the forecast period. The factors that will drive the 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.

Smart Lighting Market

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Selected Market Dynamics in Smart Lighting Market

Modernization and development of infrastructure to transform cities into smart cities

The application areas of LED lighting include warehouses, residential, commercial facilities, government buildings, and so on. Lighting on streets and public spaces, cities, towns, and villages contributes to the major electricity usage across the world. A paradigm shift from traditional lighting systems to connected LED technology is the key to energy and cost saving in all lighting applications. The smart lighting bulbs are well-known for their energy-efficiency. The smart lights are capable of communicating wirelessly to various networks, collecting various types of data such as nearby traffic situations, and helping to reduce crime rates, while the traditional lights are not capable of these functionalities. In 2009, the US Government funded the Department of Energy Efficiency and Conservation Block Grant (EECBG) program. Under this program, USD 3.20 billion was granted to cities and other jurisdictions to develop energy-efficiency and conservation projects. In 2014, a survey of 204 cities by the US Conference of Mayors found that 42 cities used the EECBG funds for LED or other energy-efficient street lighting projects. The implementation of smart lighting in the street lighting systems would lead to reduced energy consumption, lowered energy expenses, and increased safety in cities. Features such as energy-efficiency and sustainability are driving the adoption of smart lighting in street and outdoor lighting applications. The smart lighting system is gaining huge support from the emerging economies as it forms a part of their economy modernization plan.

Security and privacy issues in smart lighting systems

Most of the lighting control and management systems are using the Internet of Things (IoT) and other advanced technologies that help control and monitor the energy consumption. IoT provides new functionalities to improve the quality of life and enable technological advancements in critical areas. These areas include personalized healthcare, emergency response, traffic management, smart manufacturing, defense, home security, and smart energy distribution and utilization. The threat to security and privacy are main disadvantages associated with the smart lighting systems. Since smart homes are connected through the internet, they are vulnerable to being hacked. Moreover, it may be possible for an intruder to remotely shut off the lights in locations such as hospitals and other public venues, thereby resulting in serious consequences. Security and privacy issues are the main areas of concern for such systems. These connected lights are a sophisticated array of LED fixtures with built-in sensors and cameras connected to a wireless network. All the data and information are stored in the cloud so that one can access everything from anywhere.

Hardware segment will hold the largest share of the smart lighting market during the forecast period

The smart lighting market by offering will be dominated by the hardware segment during the forecast period due to hardware being an integral element of the smart lighting systems. 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.

The application segment of market will be dominated by indoor lighting applications in residential, commercial, and industrial segments during the forecast period

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.

Smart Lighting Market

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APAC is expected to be the fastest growing market during the forecast period

APAC is expected to be the fastest-growing market for smart lighting during the forecast period. The 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 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.

Scope of the Report:

Report Metric

Details

Report Name

Smart Lighting Market

Base year

2017

Forecast period

2018–2023

Units

Value (USD)

Segments covered

Type, End User, Offerings, and Region

Geographic regions covered

North America, APAC, Europe, and RoW

Companies covered

Philips Lighting (Signify) (Netherlands), General Electric (US), Eaton (Ireland), Acuity Brands (US), OSRAM (Germany), Cree (US), Hubbell (US), Zumtobel Group (Austria), Honeywell (US), Hafele Group (Germany), Legrand (France), and Lutron Electronics (US).

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

Recent developments

  • In August 2017, Osram (Germany) acquired Digital Lumens (US). This acquisition enabled OSRAM to strengthen its portfolio of connected lighting systems used in industrial buildings by leveraging the IoT expertise of Digital Lumens
  • In May 2017, GE (US) introduced Amazon Alexa-embedded lighting. It is a voice-driven lighting system for the residential application, which features with visual clock and sleep-enhancing light, among others
  • In August 2016, Cree (US) introduced the XLamp MHB-B LED. The XLamp MHB-B LED is a new high-power LED that offers a more effective way to lower system costs for high-lumen lighting applications, such as high-bay, roadway, and outdoor area, compared to mid-power LEDs.
  • In July 2016, Cree (US) and Avnet, Inc. (US) announced a strategic agreement to expand the coverage of Cree in the Americas for the distribution of its comprehensive portfolio of innovative LED components including Chip-on-Board and LED modules.

Key questions addressed by the report

  • What the emerging applications of smart lighting?
  • What are the key drivers, restraints, opportunities, and challenges pertaining to the smart lighting market?
  • Who are the leading manufacturers of smart lighting solutions in the market?
  • Who are the leading end users of smart lighting?
  • What are the recent developments in the smart lighting industry related to product launches and developments, key innovations, mergers and acquisitions, and partnerships?

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


List of Figures (50 Figures)

Figure 1 Smart Lighting Market Segmentation
Figure 2 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 Market in 2018
Figure 7 Market for Services to Grow at Highest CAGR During Forecast Period
Figure 8 Market for Zigbee Wireless Protocol to Grow at Highest CAGR During Forecast Period
Figure 9 Indoor Application to Hold Larger Size of Market During Forecast Period
Figure 10 Market for New Installation to Grow at Higher CAGR During Forecast Period
Figure 11 Europe Held Largest Share of Market in 2017
Figure 12 Requirement of Energy-Efficient Lighting Would Drive Growth of Market During Forecast Period
Figure 13 Market for Post-Installation Services to Grow at Highest CAGR During 2018–2023
Figure 14 Lights and Luminaires to Hold Larger Share of Market for Hardware in 2018
Figure 15 Market for Residential Application to Grow at Highest CAGR During 2018–2023
Figure 16 LED Drivers and Ballasts to Hold Largest Share of Market for Lighting Control Hardware During Forecast Period
Figure 17 Digital Addressable Lighting Interface to Hold Largest Share of Market for Wired Communication Technology During Forecast Period
Figure 18 China Estimated to Hold Largest Share of Market in APAC for Outdoor Application in 2018
Figure 19 US to Hold Largest Share of 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 Market: Value Chain Analysis
Figure 25 Greater Vertical Integration as Leading Trend Among Key Market Players
Figure 26 Market for Services to Grow at Highest CAGR During Forecast Period
Figure 27 Market for Wireless Communication Technology to Grow at Higher CAGR During Forecast Period
Figure 28 Market for Outdoor Application to Grow at Higher CAGR During Forecast Period
Figure 29 Market for New Installation to Grow at Higher CAGR During Forecast Period
Figure 30 Geographic Snapshot: Market in APAC Expected to Grow at the Highest Rate Between 2018 and 2023
Figure 31 North America: Market Snapshot
Figure 32 US to Hold Largest Size of Market in North America By 2023
Figure 33 Europe: Smart Lighting Market Snapshot
Figure 34 Market in Europe for Indoor Residential Application to Grow at Highest CAGR During Forecast Period
Figure 35 APAC: Market Snapshot
Figure 36 China to Hold Largest Size of Market in APAC During Forecast Period
Figure 37 Companies in  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

This research study involves the extensive use of secondary sources, directories, and databases (such as Hoovers, Bloomberg Business, Factiva, and OneSource) to identify and collect information useful for this technical and commercial study of the smart lighting market. In-depth interviews have been conducted with various primary respondents including key industry participants, subject matter experts (SMEs), C-level executives of key market players, and industry consultants to obtain and verify critical qualitative and quantitative information and assess prospects.

Secondary Research

In secondary research, various secondary sources have been referred to for identifying and collecting information important for this study. Secondary sources include corporate filings (such as annual reports, investor presentations, and financial statements); trade, business, and professional associations; white papers, lighting related journals, and certified publications; articles from recognized authors; directories; and databases. Secondary research has been mainly conducted to obtain key information about industries’ supply chain, the market’s value chain, the total pool of key players, market classification, and segmentation according to industry trends to the bottommost level, geographic markets, and key developments from both market-and technology-oriented perspectives. Data from secondary research has been collected and analyzed to arrive at the overall market size, which has been further validated by primary research.

Primary Research

In primary research, various primary sources from both the supply and demand sides have been interviewed to obtain the qualitative and quantitative information for this report. Primary sources from the supply side include industry experts such as CEOs, VPs, marketing directors, technology and innovation directors, and related key executives from major companies and organizations operating in the smart lighting market. After going through the entire market engineering process (which includes calculations for market statistics, market breakdown, market size estimations, market forecasting, and data triangulation), extensive primary research has been conducted to gather information and verify and validate obtained critical numbers. The primary research has been conducted to identify segmentation types, industry trends, key players, competitive landscape, and key market dynamics such as drivers, restraints, opportunities, challenges, along with key strategies adopted by players operating in the market.

Smart Lighting Market

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

Market Size Estimation

In the complete market engineering process, both top-down and bottom-up approaches have been used, along with several data triangulation methods, to perform market size estimation and forecast the overall market segments and subsegments listed in the report. Extensive qualitative and quantitative analyses have been performed on the complete market engineering process to list the key information/insights throughout the report.

The bottom-up procedure has been employed to arrive at the overall size of the smart lighting market from the revenues of key players and their positioning in the market. The overall market size has been calculated based on revenue of key companies identified in the market. In the top-down approach, the overall market size has been used to estimate the size of the individual markets (mentioned in the market segmentation) through percentage splits from secondary and primary research. For the calculation of specific market segments, the most appropriate parent market size has been used to implement the top-down approach.

Data Triangulation

After arriving at the overall market size, determined by the abovementioned estimation process, the total market has been segregated into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics for all the segments and subsegments, the data triangulation and market breakdown procedures have been employed, wherever applicable. The data has been triangulated by studying various factors and trends from both the demand and supply sides.

Report Objectives

  • To define, describe, and forecast the smart lighting market, in terms of value, by offering, communication technology, application type, installation type, and geography
  • To forecast the size of market segments with respect to 4 major regions: North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW)
  • To provide market statistics with detailed classification and split in terms of value and volume for the market based on offering
  • To provide detailed information regarding the major factors influencing the growth of the smart lighting market (drivers, restraints, opportunities, and challenges)
  • To strategically analyze the micromarkets with respect to the individual growth trends, prospects, and contribution to the overall market
  • To provide industry trends, insights based on the value chain analysis, and strategic benchmarking of the smart lighting market
  • To strategically profile key players and comprehensively analyze their market ranking and core competencies along with detailing the competitive landscape for the market players
  • To analyze competitive growth strategies such as partnerships, contracts, agreements and collaborations, mergers and acquisitions, new product launches and developments, and research and development adopted by key players in the smart lighting market

This research report categorizes the overall smart lighting market on the basis of Offering, Communication Technology, Application, Installation, and Region.

On the basis of Offering, the smart lighting market is segmented as follows:

  • Hardware
    • Lights & Luminaires
      • Smart Bulbs
      • Fixtures
    • Lighting Controls
      • LED drivers & Ballasts
      • Sensors
      • Switch & Dimmers
      • Relay units
      • Gateways
  • Software
    • Local/ Web Based Software
    • Cloud Based Software
  • Services
    • Design & Engineering
    • Installation Services
    • Post Installation Services

On the basis of Communication Technology, the smart lighting market is segmented as follows:

  • Wired Technology
  • Wireless Technology

On the basis of Application, the smart lighting market is segmented as follows:

  • Indoor application
    • Residential
    • Commercial
      • Retail
      • Hospitality
      • Office Lighting
    • Industrial
  • Outdoor application
    • Highways
      • Streets & Roadways
      • Tunnels & Bridges
    • Architectural
    • Public places

On the basis of Installation, the smart lighting market is segmented as follows:

  • New installation
  • Retrofit installation

On the basis of Region, the smart lighting market is segmented as follows:

  • North America
  • Europe
  • APAC
  • RoW

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Geographic Analysis

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Company Information

  • Detailed analysis and profiling of additional market players based on various blocks of the value chain
Report Code
SE 2506
Published ON
Oct, 2019
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