Smart Lighting Market Size, Type Analysis, Application Analysis, End-Use, Industry Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2023-2032

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Market Snapshot

CAGR:6.28
2023
2032

Source: Market Expertz

RND-Favicon
Study Period 2019-2032
Base Year 2023
Forcast Year 2023-2032
CAGR 6.28
Semiconductors & Electronics-companies
Semiconductors & Electronics-Snapshot

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Report Overview

The Smart Lighting Market is poised for substantial growth, with an estimated Compound Annual Growth Rate (CAGR) of 5.75% between 2022 and 2032. The market size is projected to increase by USD 12,340.92 million during this period. The market's expansion is driven by various factors, including the increasing demand for energy-efficient lighting solutions, growing adoption of smart city initiatives, and advancements in Internet of Things (IoT) technology.

Smart Lighting Market Overview:

Drivers:

One of the key drivers of the Smart Lighting Market is the growing demand for energy-efficient lighting solutions. Smart lighting systems utilize advanced technologies such as LEDs and sensors to optimize energy consumption and reduce electricity costs. With an increasing focus on sustainability and environmental conservation, both residential and commercial users are opting for smart lighting solutions to minimize their carbon footprint and achieve long-term energy savings.

Additionally, the adoption of smart city initiatives and the integration of smart lighting into urban infrastructure contribute to the market's growth. Smart lighting systems play a pivotal role in enhancing urban living by providing adaptive lighting based on real-time conditions. This results in improved safety, reduced energy consumption, and enhanced aesthetics in urban areas.

Moreover, the advancements in IoT technology are driving the proliferation of smart lighting solutions. IoT-enabled smart lighting systems can be controlled and monitored remotely, offering users the convenience of adjusting lighting settings through their smartphones or other connected devices. This level of control and automation is attracting consumers and businesses alike to invest in smart lighting.

Trends:

The integration of smart lighting with other smart home technologies is a notable trend in the market. As consumers adopt various smart devices and systems in their homes, there is a growing interest in creating cohesive and interconnected smart environments. This has led to the development of smart lighting solutions that can be seamlessly integrated with voice assistants, home security systems, and other smart home devices.

Furthermore, the use of data analytics and Artificial Intelligence (AI) in smart lighting systems is gaining traction. These technologies enable smart lighting to gather data about user preferences, occupancy patterns, and ambient lighting conditions. By analyzing this data, smart lighting systems can optimize energy usage, enhance user experience, and provide personalized lighting solutions.

Restraints:

One of the key challenges in the Smart Lighting Market is the initial high cost of implementation. While smart lighting solutions offer long-term energy savings, the upfront costs of installing smart lighting systems can be higher compared to traditional lighting technologies. This cost barrier can deter budget-conscious consumers and businesses from adopting smart lighting solutions.

Furthermore, concerns related to data privacy and security pose a restraint to market growth. IoT-enabled smart lighting systems collect and transmit data, raising concerns about the potential misuse or unauthorized access to sensitive information. Addressing these privacy and security concerns is crucial to gaining consumer trust and promoting widespread adoption.

Smart Lighting Market Segmentation by Application:

The Commercial segment is expected to witness significant growth in the Smart Lighting Market. Smart lighting solutions are widely adopted in commercial spaces such as offices, retail stores, and hospitality establishments to improve energy efficiency, enhance visual comfort, and create dynamic lighting environments.

Smart Lighting Market Segmentation by Type:

The LED-based Smart Lighting segment is projected to experience substantial growth. LEDs are known for their energy efficiency, long lifespan, and versatility in creating various lighting effects. As LEDs continue to dominate the lighting industry, the adoption of LED-based smart lighting solutions is expected to increase.

Regional Overview:


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North America is anticipated to be a key player in the global Smart Lighting Market. The region's strong technological infrastructure, early adoption of smart home technologies, and supportive regulatory environment drive the demand for smart lighting solutions. Moreover, government initiatives and incentives to promote energy-efficient lighting contribute to the market's growth.

Smart Lighting Market Customer Landscape:

The Smart Lighting Market caters to consumers, businesses, and governments seeking innovative lighting solutions that offer energy efficiency, convenience, and enhanced functionality. As smart home and smart city concepts gain momentum, the market's potential customer base continues to expand.

Major Smart Lighting Market Companies:

Companies in the Smart Lighting Market are focusing on research and development to offer cutting-edge smart lighting solutions that meet consumer demands. Some notable players in the market include:

  • Philips Lighting (Signify)
  • Osram Licht AG
  • Acuity Brands Inc.
  • Eaton Corporation plc
  • Lutron Electronics Co. Inc.
  • Zumtobel Group AG
  • Cree Inc.
  • Leviton Manufacturing Co. Inc.
  • Syska LED Lights Pvt. Ltd.
  • Honeywell International Inc.

Segment Overview:

The Smart Lighting market report provides revenue forecasts at global, regional, and country levels, offering insights into market trends and growth opportunities from 2019 to 2032. The report covers various segments, including:

  • Application Outlook (USD Million, 2019 - 2032)

    • Residential
    • Commercial
    • Industrial

  • Type Outlook (USD Million, 2019 - 2032)

    • LED-based Smart Lighting
    • Fluorescent-based Smart Lighting
    • Other Types

  • Geography Outlook (USD Million, 2019 - 2032)

    • North America
      • The United States
      • Canada
    • Europe
      • Germany
      • France
      • United Kingdom
      • Rest of Europe
    • APAC
      • China
      • Japan
      • India
    • South America
      • Brazil
      • Argentina
      • Rest of South America
    • Middle East & Africa
      • Saudi Arabia
      • UAE
      • South Africa
      • Rest of the Middle East & Africa

TABLE OF CONTENTS: GLOBAL Smart Lighting MARKET

Chapter 1. MARKET SYNOPSIS

1.1. Market Definition

1.2. Research Scope & Premise

1.3. Methodology

1.4. Market Estimation Technique

Chapter 2. EXECUTIVE SUMMARY

2.1. Summary Snapshot, 2016 – 2027

Chapter 3. INDICATIVE METRICS

3.1. Macro Indicators

Chapter 4. Smart Lighting MARKET SEGMENTATION & IMPACT ANALYSIS

4.1. Smart Lighting Segmentation Analysis

4.2. Industrial Outlook

4.3. Price Trend Analysis

4.4. Regulatory Framework

4.5. Porter’s Five Forces Analysis

    4.5.1. Power Of Suppliers

    4.5.2. Power Of Buyers

    4.5.3. Threat Of Substitutes

    4.5.4. Threat Of New Entrants

    4.5.5. Competitive Rivalry

Chapter 5. Smart Lighting MARKET BY installation type SIGHTS & TRENDS

5.1. Segment 1 Dynamics & Market Share, 2019 & 2027

5.2 New Installations

    5.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    5.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

5.3 Retrofit Installations

    5.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    5.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 6. Smart Lighting MARKET BY end user INSIGHTS & TRENDS

6.1. Segment 2 Dynamics & Market Share, 2019 & 2027

6.2. Indoor

    6.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    6.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

6.3. Outdoor

    6.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    6.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 7. Smart Lighting MARKET REGIONAL OUTLOOK

7.1. Smart Lighting Market Share By Region, 2019 & 2027

7.2. NORTH AMERICA

    7.2.1. North America Smart Lighting Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.2.2. North America Smart Lighting Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.2.3. North America Smart Lighting Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.2.4. North America Smart Lighting Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.5. U.S.

    7.2.5.1. U.S. Smart Lighting Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.2.5.2. U.S. Smart Lighting Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.2.5.3. U.S. Smart Lighting Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.2.5.4. U.S. Smart Lighting Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.6. CANADA

    7.2.6.1. Canada Smart Lighting Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.2.6.2. Canada Smart Lighting Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.2.6.3. Canada Smart Lighting Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.2.6.4. Canada Smart Lighting Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3. EUROPE

    7.3.1. Europe Smart Lighting Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.3.2. Europe Smart Lighting Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.3.3. Europe Smart Lighting Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.3.4. Europe Smart Lighting Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.5. GERMANY

    7.3.5.1. Germany Smart Lighting Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.3.5.2. Germany Smart Lighting Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.3.5.3. Germany Smart Lighting Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.3.5.4. Germany Smart Lighting Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.6. FRANCE

    7.3.6.1. France Smart Lighting Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.3.6.2. France Smart Lighting Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.3.6.3. France Smart Lighting Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.3.6.4. France Smart Lighting Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.7. U.K.

    7.3.7.1. U.K. Smart Lighting Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.3.7.2. U.K. Smart Lighting Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.3.7.3. U.K. Smart Lighting Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.3.7.4. U.K. Smart Lighting Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4. ASIA-PACIFIC

    7.4.1. Asia Pacific Smart Lighting Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.4.2. Asia Pacific Smart Lighting Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.4.3. Asia Pacific Smart Lighting Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.4.4. Asia Pacific Smart Lighting Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

 7.4.5. CHINA

     7.4.5.1. China Smart Lighting Market Estimates And Forecast, 2016 – 2027, (USD Million)

     7.4.5.2. China Smart Lighting Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

     7.4.5.3. China Smart Lighting Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

     7.4.5.4. China Smart Lighting Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.6. INDIA

     7.4.6.1. India Smart Lighting Market Estimates And Forecast, 2016 – 2027, (USD Million)

     7.4.6.2. India Smart Lighting Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

     7.4.6.3. India Smart Lighting Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

     7.4.6.4. India Smart Lighting Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.7. JAPAN

     7.4.7.1. Japan Smart Lighting Market Estimates And Forecast, 2016 – 2027, (USD Million)

     7.4.7.2. Japan Smart Lighting Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.4.7.3. Japan Smart Lighting Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.4.7.4. Japan Smart Lighting Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.8. AUSTRALIA

    7.4.8.1. Australia Smart Lighting Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.4.8.2. Australia Smart Lighting Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

     7.4.8.3. Australia Smart Lighting Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.4.8.4. Australia Smart Lighting Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.5. MIDDLE EAST AND AFRICA (MEA)

    7.5.1. Mea Smart Lighting Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.5.2. Mea Smart Lighting Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.5.3. Mea Smart Lighting Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.5.4. Mea Smart Lighting Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.6. LATIN AMERICA

     7.6.1. Latin America Smart Lighting Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.6.2. Latin America Smart Lighting Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.6.3. Latin America Smart Lighting Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.6.4. Latin America Smart Lighting Market Estimates And Forecast By Production Process, 2016 –2027, (USD Million)

    7.6.5. Latin America Smart Lighting Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

Chapter 8. COMPETITIVE LANDSCAPE

8.1. Market Share By Manufacturers

8.2. Strategic Benchmarking

    8.2.1. New Product Launches

    8.2.2. Investment & Expansion

    8.2.3. Acquisitions

    8.2.4. Partnerships, Agreement, Mergers, Joint-Ventures

8.3. Vendor Landscape

     8.3.1. North American Suppliers

     8.3.2. European Suppliers

     8.3.3. Asia-Pacific Suppliers

     8.3.4. Rest Of The World Suppliers

Chapter 9. COMPANY PROFILES

9.1 Signify (Philips Lighting) (Netherlands)

    9.1.1. Company Overview

    9.1.2. Financial Performance

    9.1.3. Product Insights

    9.1.4. Strategic Initiatives

9.2 Legrand S.A. (France)

    9.2.1. Company Overview

    9.2.2. Financial Performance

    9.2.3. Product Insights

    9.2.4. Strategic Initiatives

9.3 Acuity Brands, Inc. (US)

    9.3.1. Company Overview

    9.3.2. Financial Performance

    9.3.3. Product Insights

    9.3.4. Strategic Initiatives

9.4 General Electric Company (US)

    9.4.1. Company Overview

    9.4.2. Financial Performance

    9.4.3. Product Insights

    9.4.4. Strategic Initiatives

9.5. OSRAM Licht (Germany)

    9.5.1. Company Overview

    9.5.2. Financial Performance

    9.5.3. Product Insights

    9.5.4. Strategic Initiatives

9.6 Zumtobel Group (Austria)

    9.6.1. Company Overview

    9.6.2. Financial Performance

    9.6.3. Product Insights

    9.6.4. Strategic Initiatives

9.7 Hubbell Incorporated (US)

   9.7.1. Company Overview

    9.7.2. Financial Performance

    9.7.3. Product Insights

    9.7.4. Strategic Initiatives

9.8 Dialight PLC (UK)

    9.8.1. Company Overview

    9.8.2. Financial Performance

    9.8.3. Product Insights

    9.8.4. Strategic Initiatives

9.9 Ideal Industries, Inc. (Cree)

    9.9.1. Company Overview

    9.9.2. Financial Performance

    9.9.3. Product Insights

    9.9.4. Strategic Initiatives

9.10 Schneider Electric (France)

    9.10.1. Company Overview

    9.10.2. Financial Performance

    9.10.3. Product Insights

    9.10.4. Strategic Initiatives

RESEARCH METHODOLOGY

A research methodology is a systematic approach for assessing or conducting a market study. Researchers tend to draw on a variety of both qualitative and quantitative study methods, inclusive of investigations, survey, secondary data and market observation.

Such plans can focus on classifying the products offered by leading market players or simply use statistical models to interpret observations or test hypotheses. While some methods aim for a detailed description of the factors behind an observation, others present the context of the current market scenario.

Now let’s take a closer look at the research methods here.

Secondary Research Model

Extensive data is obtained and cumulated on a substantial basis during the inception phase of the research process. The data accumulated is consistently filtered through validation from the in-house database, paid sources as well reputable industry magazines. A robust research study requires an understanding of the overall value chain. Annual reports and financials of industry players are studied thoroughly to have a comprehensive idea of the market taxonomy.

Primary Insights

Post conglomeration of the data obtained through secondary research; a validation process is initiated to verify the numbers or figures. This process is usually performed by having a detailed discussion with the industry experts.

However, we do not restrict our primary interviews only to the industry leaders. Our team covers the entire value chain while verifying the data. A significant number of raw material suppliers, local manufacturers, distributors, and stakeholders are interviewed to make our findings authentic. The current trends which include the drivers, restraints, and opportunities are also derived through the primary research process.

Market Estimation

The market estimation is conducted by analyzing the data collected through both secondary and primary research. This process involves market breakdown, bottom-up and top- down approach.

Moreover, while forecasting the market a comprehensive statistical time series model is designed for each market. Macroeconomic indicators are considered to understand the current trends of the market. Each data point is verified by the process of data triangulation method to arrive at the final market estimates.

Final Presentation

The penultimate process results in a holistic research report. The study equips key industry players to undertake significant strategic decisions through the findings. The report encompasses detailed market information. Graphical representations of the current market trends are also made available in order to make the study highly comprehensible for the reader.

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