Smart Lighting Market

Market Leadership - Smart Lighting Market

The smart lighting market is estimated to grow from USD 13.4 billion in 2020 and projected to reach USD 30.6 billion by 2025, at a CAGR of 18.0%. The major factors driving the growth of the smart lighting market include the advent of integrated lighting control systems, upcoming smart city projects in developing economies, increasing adoption and decreasing cost of LEDs, integration of lighting solutions with smart devices, and growing awareness about energy savings among consumers and governments worldwide.

The rapid transition from traditional lighting to connected lighting, development of the Internet of Things (IoT) technology in the field of lighting control systems, and growing demand for PoE-based lighting solutions in commercial and healthcare applications are expected to provide major opportunities to the smart lighting market players in the coming years.

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Smart lighting system manufacturers have adopted strategies such as product launches and developments, agreements, partnerships, collaborations, contracts, and joint ventures to grow in the smart lighting market. For instance, in October 2019, Signify acquired Cooper Lighting Solutions from Eaton. This acquisition would strengthen its position in the North American lighting market.

Some of the major players in the smart lighting market are Signify (Philips Lighting) (Netherlands), Legrand S.A. (France), Acuity Brands, Inc. (US), Eaton Corporation (Ireland), General Electric Company (US), and OSRAM Licht (Germany), Lutron Electronics (US), Zumtobel Group (Austria), Honeywell International Inc. (US), Hubbell Incorporated (US), and Leviton Manufacturing Company, Inc. (US). Other players operating in the smart lighting market include Dialight PLC (UK), Helvar (Finland), Ideal Industries, Inc. (Cree Lighting) (US), Adesto Technologies (Echelon Corporation) (US), Panasonic (Japan), LightwaveRF PLC (UK), RAB Lighting (US), Synapse Wireless (US), Syska LED (India), Wipro Enterprise Ltd (India), LG Electronics (South Korea), ABB (Switzerland), and Enlighted Inc (a Siemens company) (US).

Signify (Philips Lighting N.V.) (Netherlands) was ranked first in the smart lighting market in 2019. It is an industry leader in the lighting market. The company’s market experience and brand name allow it to capitalize on the fundamental market dynamics in the lighting industry and deliver innovative solutions that create value and ensure its growth. The company has a huge advantage over its competitors in the smart lighting market due to is its extensive product portfolio, with lighting systems compatible with various connecting technologies ranging from DALI, KNX, and BACnet to ZigBee and EnOcean.

The company aims to further invest in connected lighting systems to win contracts related to the supply of connected lighting systems and other lighting control equipment. It also adopts the strategy of acquisitions. For instance, in October 2019, Signify acquired Cooper Lighting Solutions from Eaton. This acquisition would strengthen its position in the North American lighting market. Also, in April 2019, it acquired WiZ Connected—a developer of the WiZ Wi-Fi-based connected lighting ecosystem. This acquisition will allow Signify to extend its leadership position in the Wi-Fi-based smart lighting market.

Legrand S.A. (France) was ranked second in the smart lighting market in 2019. Legrand S.A. is a global specialist in electrical and digital building infrastructures. The company has a strong product portfolio pertaining to the smart lighting market. This enables the company to maintain its leading position in this market. Legrand focuses on growth strategies such as acquisitions, partnerships, and product launches.

For instance, in May 2019, the company launched wireless DLM systems, which are designed for easy installation, which, in turn, saves cost and time and thereby benefits engineers, electrical contractors, and facility managers needing reliable, code-compliant lighting controls. Moreover, in December 2018, the company acquired Kenall, a leading manufacturer of innovative, energy-efficient, and sustainable specification-grade lighting and control solutions. The company also focuses on geographic expansion to increase its footprint. For instance, in December 2018, the company acquired Trical (New Zealand), which provides switchboards for residential and commercial buildings. This acquisition would strengthen its position in New Zealand.

Related Reports:

Smart Lighting Market by Offering (Hardware: Lights & Luminaires, Lighting Controls; Software, and Services), Communication Technology (Wired and Wireless), Installation Type, End-use Application, and Geography - Global Forecast to 2025

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