Smart Lighting Market
| Report Code: TIPTE100000581 | No. of Pages: 150 | Category: Electronics and Semiconductor | Status: Upcoming
Lighting is significant source of energy utilized globally. To minimize the power consumption it is important to deduce the usage of this sources by optimization of the lighting system. Smart lighting exhibits enormous potential in the market as it provides its customers with the facility of appropriate amount of light at the right place and right time. With the rise in urbanization and population growth the demand for effect lighting solutions have increased, and this demand subsequently would lead to rapid development and advancement in the lighting industry in future. The smart lighting system market is related to the technologies where lighting functions are performed automatically and with a great ease. Smart lighting systems are also called as connected lighting systems or intelligent lighting systems. This system is built up on the parameters such as color, temperature, movement, amount of natural light, occupancy and others. The world today is aware about the global environmental situations and is thus inclined more towards the adoption and deployment of eco-friendly and energy saving products and services. Smart lighting is one such technology designed to provide sustainable development to the world, thus, it’s expected to foresee high growing demands in the near future.
Today, more people are getting concerned about conserving the available limited sources of energy. Also there are several profit and non-profit organizations across the globe, who are supporting this cause and spreading the awareness and importance of energy conservation.
If we consider the population growth worldwide in the past few years, the rate of energy consumption is likely to increase. Therefore, it has become important to educate people about energy conservation, or the other way to reduce energy consumption is by offering them products/services that would help them save energy.
In the last few years it has been noticed that the energy conservation awareness among the people has increased and people are opting for environment friendly solutions, not only that even governments and municipalities are taking several initiatives for opting energy conserving methods.
Based on lighting type, the smart lighting market is segmented into light emitting diodes (LEDs), fluorescent lamps, compact fluorescent lamps (CFLs), high intensity discharge lamps and others (neon lamps and photographic flashes). The LEDs accounted for the largest share in the global market share in 2015. The LEDs are experiencing a rapid adoption and growth across several applications and is expected to grow globally in future. These LEDs are tiny, solid lights that uses semiconductor instead of filament or neon gas and are remarkably energy efficient and long lasting. LEDs function distinctively than traditional light bulbs. This makes LEDs far more sharp and durable than traditional light bulbs.
Based on application type, the smart lighting market is bifurcated into industrial, residential lighting, commercial lighting, government, outdoor lighting, and automotive lighting. The industrial segment accounted for the largest share in the global market share in 2015. Technology and innovation have become two very important essence for any industrial development, in the last few years lighting industry have made huge technological advancements. Lighting in any industry has a vital role. These smart lighting solutions come with occupancy and photonic sensors that control the dimming and brightening of lights, which eventually leads to low power consumption and efficient lighting.
The market players focus on new product innovations and developments by integrating advanced technologies and features in their products to compete with the competitors.