Connected Lighting Platform Market Growth, Top Players, and Forecast by 2031

Analyst Perspective

The connected lighting platform market has witnessed significant growth over the past few years. The market growth is expected to continue upward in the next few years of the forecast period. Various factors have aided the market growth, and one of them is the need for sustainability. Many people are adopting more eco-friendly approaches, and demand for connected lighting platforms is increasing. The efficiency level of the lighting platform makes it suitable for sustainability. The restraint on the market growth is the cost of implementing the platform.

Market Overview

Connected lighting platform is a development kit for sampling cost-effective industrial and commercial lighting solutions. The lighting platform comprises various components such as an LED module, LED driver board, Bluetooth, and AC/DC power board. The platform is interconnected to the internet in a way through wireless technology. The hardware segment is expected to hold a significant market share on the basis of component. Meanwhile, Europe holds a substantial share of the market owing to increasing smart lighting standard requirement. The connected lighting market is expected to expand at a CAGR of 17.1% during 2023-2031.

Market Driver

Increase In Infrastructure Standard

Modern infrastructure around the world requires lighting that will meet the standards of a particular structure. Several factors, including the need for enhanced illumination on streets and roadways, the construction of highways to connect cities, and the increasing investment by governments in public infrastructure is expected to drive the connected lighting platform market. The integration of IoT has made way for a smarter environment. Modernization and various regulations for industrial and commercial structures will impact the market positively. Connected lighting platforms play a crucial role in smart city initiatives. By integrating light and data, public lighting can serve as the backbone for a common services management infrastructure. This integration enables cities to become smarter, more efficient, and sustainable.

Market Scope

The "Global Connected Lighting Platform Market Analysis To 2031" is a specialized and in-depth study of the technology, media, and telecommunications industry with a special focus on global market trend analysis. The connected lighting platform market report aims to give an overview of the market with detailed market segmentation by component, application, and geography. The global connected lighting platform market is anticipated to witness high growth during the forecast period. The report provides key statistics on the market status of the leading connected lighting platform market player and offers key trends and opportunities in the market.

Market Segmentation

The global connected lighting platform market is segmented based on component, application, and geography. Based on the components, the connected lighting platform market is segmented into hardware, software, and services. The connected lighting platform market is segmented based on application: street lighting, stadium lighting, smart homes, and others.

REGIONAL FRAMEWORK

The report provides a detailed industry overview, including qualitative and quantitative information. It provides an overview and forecast of the global connected lighting platform market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America. Each region's connected lighting platform market is later segmented into countries and segments. The market report includes the analysis and forecast of 18 countries globally and the current trends and opportunities prevailing in the region.

The report analyzes factors affecting the connected lighting platform market from both the demand and supply side and further estimates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trends. The report also provides an exhaustive PEST analysis highlighting factors affecting the connected lighting platform market in these regions.

MARKET PLAYERS

The reports cover key developments in the connected lighting platform market as organic and inorganic growth strategies. Various companies focus on organic growth strategies such as product launches, product approvals, and patents and events. Inorganic growth strategies activities seen were acquisitions, partnerships & collaborations. The activities have made the way for business expansions and a customer base of market players. The market players from the connected lighting platform market are anticipated to have lucrative growth opportunities in the future with the rising demand for filter products in the global market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the connected lighting platform market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information for the last 3 years, and key developments in the past five years. Mentioned below is a list of a few companies engaged in the connected lighting platform market.

• Phillips Lightings
• Honeywell International Inc.
• Signify Holding
• Semiconductor Components Industries, LLC
• Lutron Electronics Co. Inc
• OSRAM GmbH
• LEDVANCE GmbH
• ON Semiconductor
• Leviton Manufacturing Co.
• Premier Farnell Limited

Connected Lighting Platform Report Scope