According to a new market report published by Lucintel, the future of the smart lighting market looks promising with opportunities in the residential and commercial sectors. The global smart lighting market is expected to reach an estimated $17.7 billion by 2022 and is forecast to grow at a CAGR of 23.9% from 2017 to 2022. The major drivers of growth for this market are development of smart cities, increasing usage of wireless technology, and increasing awareness of energy saving.
Browse 107 market data tables and 84 figures spread through 145 pages and in-depth TOC on “Global Smart Lighting Market" http://www.lucintel.com/smart_lighting_market_2017_2022.aspx
In this market, smart bulbs, fixtures, and control systems, such as ballasts, switches & dimmer actuators, sensors, microcontrollers, and transmitters are used for smart lighting. 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 bulbs is likely to experience the highest growth in the forecast period supported by growing demand for wireless technologies in smart cities.
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Within the smart lighting market, light emitting diodes (LEDs) are expected to remain the largest market and are expected to witness the highest growth over the forecast period. Declining cost of LEDs, low maintenance, and high energy efficiency are expected to spur the growth of this segment over the forecast period.
Europe is expected to remain the largest market due to increasing standard of living and increasing building automation in Germany, France, and United Kingdom.
Asia Pacific is expected to witness the highest growth over the forecast period because of increasing government focus towards the growth in infrastructure and development of smart homes in China and India.
For business expansion, the report suggests innovation and new product development to application portability profile (APP) based control lighting by using a smartphone or tablet (iOS or Android).
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Emerging trends, which have a direct impact on the dynamics of the industry, include growing demand for Internet of things (IoT) technology and emergence of light fidelity (Li-Fi) technology in the field of smart lighting market. Philips Lighting, Osram Licht AG, Zumtobel Group, CREE Inc, General Electric Company, Digital Lumens, SemiLEDs Corporation, Schneider Electric SE are among the major smart lighting manufacturers.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global smart lighting market by product type, light source, communication technology, application, and region and has come up with a comprehensive research report entitled “Global Smart Lighting Market 2017-2022: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a spring board for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions.
The study includes a forecast for the global smart lighting market by product types, light source, communication technology, application, and region as follows:
Smart lighting market by product type [$M shipment analysis for 2011 – 2022]:
Smart Bulbs
Fixtures
Control Systems
Drivers and ballasts
Switches and dimmers actuators
Sensors
Microcontrollers
Transmitters and receivers
Smart lighting market by light source [$M shipment analysis for 2011 – 2022]:
Light Emitting Diode
Fluorescent Lamps
High-Intensity Discharge Lamps
Others
Smart lighting market by communication technology [$M shipment analysis for 2011 – 2022]:
Wired
Digital Addressable Lighting Interface
Powerline Communication
Power Over Ethernet
Wired Hybrid Protocols
Others
Wireless
Zigbee
Bluetooth
Enocean
Wi-Fi
Others
Smart lighting market by application [$M shipment analysis for 2011 – 2022]:
Indoor Lighting
Commercial
Industrial
Residential
Others
Outdoor Lighting
Highway & Roadway Lighting
Architectural Lighting
Lighting for Public Place
Others
Smart lighting market by region [$M shipment analysis for 2011 – 2022]:
North America
Europe
Asia Pacific
Rest of World
This 145-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link http://www.lucintel.com/toc/smart_lighting_market_2017_2022.aspx or helpdesk@lucintel.com
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