Smart Lighting Market Analysis and Opportunities by 2025

The Smart Lighting market accounted for US$ 10.55 Bn in 2015 and is expected to grow at a CAGR of 17.1% during the forecast period 2016 – 2025, to account for US$ 51.05 Bn in 2025.

The key factors driving the smart lighting market include growing awareness towards energy conservation, the long life span of LEDs and OLEDs, the rising popularity of wireless technology coupled with changing lifestyle, and decreasing price of LED lighting. At present, light is considered to consume approximately 20% of electricity production and 5% of CO2 emissions globally. At the same time, traditional lighting is accounted for the majority of electricity production in comparison to the latest LED lighting technology. Philips Lighting, subsidiary of Koninklijke Phillips NV has committed to becoming carbon neutral in the next few years. Philips is popular for making sustainable innovation for a healthier globe. Philips a global leader in lighting and smart lighting markets. In the recent past, Philips has received several projects for smart lighting, thereby promoting the adoption of smart lighting solutions worldwide

Smart Lighting Market Insights

Rising Popularity of Wireless Lighting Controls Coupled with Changing Lifestyles is fuelling the smart lighting market

Wireless connectivity is taking a leap over the wire abled connecting networks as wireless is more convenient to use. First, this technology was used in the telephones now called as the mobile phones, and since then the wireless technology has revolutionized the way things were viewed. Wireless technology has given its consumers freedom from a limited range of wired devices. The lighting industry has introduced a lighting solution integrated with the wireless technology that enables its consumers to control the lighting conveniently from their mobile phones sitting away from the place/house. Wireless technologies like Bluetooth, Wi-Fi, and RF Ids are experiencing high adoption rate among users. The rising popularity of wireless technology in lighting solution is thus considered to be one of the major reasons driving the smart lighting market.

Price Reduction in LED Luminaires are driving the smart lighting market

Since the past few years the price of LED luminaires has reduced dramatically. The price of LED luminaires a decade ago was almost twice to thrice in comparison to the present day scenario. Furthermore, it is still expected to reduce and become as affordable as common fluorescent or incandescent lighting solutions without affecting its ability to reduce energy consumption by up to 70%. This reduction in price has taken place due to the slowing demand for LED luminaires in the market owing to their high prices. Thus, the manufacturers offered a competitive price, thereby leading to a dramatic reduction in the price of LED, in order to promote LED lighting solutions in the market. The efficacy of LED has been improving as its increased illuminating capacity per watt is resulting in better lighting source with lower energy consumption. A majority of the smart lighting market utilizes LED bulbs, the price reduction here would also affect the adoption of smart lighting solutions, in a way increasing its deployment rate globally and contributing to smart lighting market growth.

Smart Lighting Market

Published Report - Smart Lighting Market: Strategic Insights

The partnership and new product launch were observed as the most adopted strategy in the Global Smart Lighting Market. Few of the recent strategies by some of the players in the Smart Lighting Market landscape are listed below-

2016: Acuity Brands and Qualcomm collaborated to deploy Qualcomm Lumicast technology for indoor location services across more than 100 locations. This technology is capable of revolutionizing the use cases for navigation, advertising & promotions, customer services and further improving operational efficiencies in the environments such as the mall, museums, factories, retail stores, airports, warehouses, health care & educational institutes and enterprises.

2016: Daintree Networks and OSRAM Sylvania collaborated to promote Open Standard Wireless Lighting Control. This is expected to expand the convenience of open standards-based controllable luminaires and accelerates Enterprise-IoT. Its collaboration with OSRAM would help in catering the best interests of the customer.

2016: Samsung and Daintree collaborated to advance the smart building IoT combining Samsung’s SLM technology with Daintree Network’s ControlScope. This networked wireless control solution makes IoT applications probable for smart buildings.

Smart Lighting

Published Report - Smart Lighting Market Players Density: Understanding Its Impact on Business Dynamics

The Published Report - Smart Lighting Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

GLOBAL SMART LIGHTING MARKET SEGMENTATION

By Lighting Type

• Light Emitting Diode (LED) Lamp
• Fluorescent Lamps
• Compact Fluorescent Lamps (CFL)
• High Intensity Discharge Lamps
• Others

By Application

• Industrial Lighting
• Residential Lighting
• Commercial Lighting
• Government
• Outdoor Lighting
• Automotive Lighting
• Connectivity Technology

By Connectivity Technology

• Wired
• Wireless

By Geography

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • France
  • Germany
  • UK
  • Spain
  • Italy
• Asia Pacific (APAC)
  • Australia
  • China
  • India
  • Japan
• Middle East & Africa (MEA)
  • Saudi Arabia
  • South Africa
  • UAE
• South America (SAM)
  • Brazil

Company Profiles

• Acuity Brands Lighting Inc.
• Daintree Networks, Inc.
• Digital Lumens, Inc.
• Eaton Corporation Plc
• General Electric
• Legrand SA
• Lutron Electronics, Inc.
• OSRAM GmbH
• Koninklijke Philips N.V.
• Sensity Systems, Inc.