The global smart lighting market size is expected to generate revenue worth USD 8.68 Billion in 2018, and is projected to reach USD 38.68 Billion by 2026, to register a CAGR of 20.5% during the forecast period.
Smart lighting is designed to manage luminance remotely. It ensures energy efficiency and includes automated controls and highly efficient fixtures that could be adjusted depending on conditions such as occupancy and external lighting. Lighting is an intentional use of light to add practical and aesthetic effect to a space. Furthermore, these systems include general, accent, and task lighting. Besides this, smart lighting systems ensure lower energy usage and high cost savings.
Factors such as rise in demand for intelligent street lighting systems, rise in need for energy-efficient lighting systems, and high penetration of LED bulbs and lightnings globally drive the global smart lighting market. However, high installation cost and maintenance cost of smart lighting systems hamper the market growth. Furthermore, advancements in wireless communication technology, rise in developments of smart city projects, especially in Asia-Pacific, and emergence of IoT technology for smart lightning provides lucrative opportunities for the global smart lighting market growth.
Segment Overview
The smart lighting market is segmented on the basis of offering, connectivity technology, lighting technology, application, and industrial vertical. Depending on offering, it is bifurcated into hardware and software.
By connectivity technology, it is categorized into Bluetooth, Zigbee, Wi-Fi, and DALI. On the basis of lighting technology, it is classified into LED, Halogen, incandescent, Fluorescent, and CFL. The applications covered in the study include indoor and outdoor lighting. By industrial vertical, it is segmented into commercial, residential, industrial, automotive, and others. Region wise, it is analyzed across North America, Europe, Asia Pacific, and LAMEA.
By connectivity technology, DALI dominated the global smart lighting market share, in terms of revenue, in 2018 and is expected to secure a leading position during the forecast period.
Depending on industry vertical, the smart lighting market is categorized into commercial, residential, industrial, automotive, and others. The commercial segment is anticipated to witness considerable smart lighting market growth.
Top Impacting Factors
The dynamics such as rise in demand for intelligent street lightning systems in developing and developed nations, growth in need for energy-efficient lighting systems for sustainable development, and high penetration of LED bulbs and lightnings, globally, drive the global smart lighting market trends. However, high installation cost and maintenance cost in smart lighting hamper the market growth. Furthermore, advancement in wireless communication technology, growth in developments of smart city projects, especially in Asia-Pacific, and emergence of IoT technology for smart lightning is expected to provide lucrative opportunities for the smart lighting industry growth.
Some major factors impacting the smart lighting market are given below:
Rise in demand for street lighting systems
Technological advancements and developments in various countries have revolutionized the outdoor luminescence from on & off system to smart luminescence. Adoption of IoT and AI technology in the lighting industry has increased the demand for smart lighting for city streets. This leads to the rise in need for luminescence systems that provide automated operations.
Growth in need for energy-efficient lighting systems
Development of technologies that operate on less power have a high demand in the present market. Most such systems are electronic or electrical and operate on power and energy sources. The depletion of these energy sources has increased the development of energy efficient systems. Smart lighting uses considerably less power in comparison to the traditional lighting, which provides lucrative smart lighting market opportunity.
Emergence of IoT & AI technology for smart lightning
Advancements in wireless technology and surge in IoT technology for hyper-connectivity between devices in smart infrastructure is expected to increase the demand for smart lighting globally. Integration of artificial intelligence and IoT in lighting systems provides operational efficiencies such as auto-dimming and intelligent illumination as per the requirement in various applications such as vertical farming, automotive interiors, and smart homes.
Competitive Analysis
Key players analyzed in the smart lighting market forecast include Acuity Brands, Inc., Cisco Systems, Inc., Cree, Inc., Eaton, Deco Lighting, Inc., Dialight, General Electric, Honeywell International Inc., Koninklijke Philips N.V., and Syska. These players have adopted various key strategies such as product launch, collaboration, partnership, acquisition, and agreements to drive the market and increase their net sales. Furthermore, prominent strategies such as product launch and business expansion are adopted by leading players to strengthen their business reach and position in the global smart lighting market analysis. For instance, Philips Hue wireless lights, Hue light bulbs, use approximately five times less energy compared to traditional halogen light bulbs, which makes them eco-friendlier.
Key Benefits for Smart Lighting Market :
Smart Lighting Market Segments:
By Offering
By Connectivity Technology
By Lighting Technology
By Region
Key Market Players
CHAPTER 1: INTRODUCTION
1.1. REPORT DESCRIPTION
1.2. KEY MARKET SEGMENTS
1.3. KEY BENEFITS
1.4. RESEARCH METHODOLOGY
1.4.1. Primary research
1.4.2. Secondary research
1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. CXO PERSPECTIVE
CHAPTER 3: MARKET LANDSCAPE
3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS
3.2.1. Top investment pockets
3.2.2. Top winning strategies
3.3. PORTER'S FIVE FORCES ANALYSIS
3.3.1. Bargaining power of suppliers
3.3.2. Threat of new entrants
3.3.3. Threat of substitutes
3.3.4. Competitive rivalry
3.3.5. Bargaining power among buyers
3.4. MARKET SHARE ANALYSIS/TOP PLAYER POSITIONING
3.5. MARKET DYNAMICS
3.5.1. Drivers
3.5.2. Restraints
3.5.3. Opportunities
CHAPTER 4: SMART LIGHTING MARKET BY COMPONENT TYPE
4.1. OVERVIEW
4.2. SENSORS
4.2.1. Key market trends, Growth factors and opportunities
4.2.2. Market size and forecast by region
4.2.3. Market analysis by country
4.3. BALLASTS AND LED DRIVERS
4.3.1. Key market trends, Growth factors and opportunities
4.3.2. Market size and forecast by region
4.3.3. Market analysis by country
4.4. MICROCONTROLLERS
4.4.1. Key market trends, Growth factors and opportunities
4.4.2. Market size and forecast by region
4.4.3. Market analysis by country
4.5. DIMMERS AND SWITCH ACTUATORS
4.5.1. Key market trends, Growth factors and opportunities
4.5.2. Market size and forecast by region
4.5.3. Market analysis by country
4.6. TRANSMITTERS AND RECEIVERS
4.6.1. Key market trends, Growth factors and opportunities
4.6.2. Market size and forecast by region
4.6.3. Market analysis by country
4.7. INTELLIGENT LUMINARIES
4.7.1. Key market trends, Growth factors and opportunities
4.7.2. Market size and forecast by region
4.7.3. Market analysis by country
CHAPTER 5: SMART LIGHTING MARKET BY CONNECTIVITY TYPE
5.1. OVERVIEW
5.2. WIRED
5.2.1. Key market trends, Growth factors and opportunities
5.2.2. Market size and forecast by region
5.2.3. Building Automation & Control Network
5.2.4. Power Line Communication (PLC)
5.2.5. Market analysis by country
5.3. WIRELESS
5.3.1. Key market trends, Growth factors and opportunities
5.3.2. Market size and forecast by region
5.3.3. Zigbee
5.3.4. EnOcean
5.3.5. Bluetooth
5.3.6. Market analysis by country
CHAPTER 6: SMART LIGHTING MARKET BY END USER
6.1. OVERVIEW
6.2. COMMERCIAL BUILDINGS
6.2.1. Key market trends, Growth factors and opportunities
6.2.2. Market size and forecast by region
6.2.3. Market analysis by country
6.3. RESIDENTIAL BUILDINGS
6.3.1. Key market trends, Growth factors and opportunities
6.3.2. Market size and forecast by region
6.3.3. Market analysis by country
6.4. PUBLIC UTILITIES
6.4.1. Key market trends, Growth factors and opportunities
6.4.2. Market size and forecast by region
6.4.3. Market analysis by country
CHAPTER 7: SMART LIGHTING MARKET BY REGION
7.1. OVERVIEW
7.2. NORTH AMERICA
7.2.1. Key market trends and opportunities
7.2.2. Market size and forecast by Component Type
7.2.3. Market size and forecast by Connectivity Type
7.2.4. Market size and forecast by End User
7.2.5. Market size and forecast by Country
7.2.6. U.S. SMART LIGHTING MARKET
7.2.6.1. Market size and forecast by Component Type
7.2.6.2. Market size and forecast by Connectivity Type
7.2.6.3. Market size and forecast by End User
7.2.7. CANADA SMART LIGHTING MARKET
7.2.7.1. Market size and forecast by Component Type
7.2.7.2. Market size and forecast by Connectivity Type
7.2.7.3. Market size and forecast by End User
7.2.8. MEXICO SMART LIGHTING MARKET
7.2.8.1. Market size and forecast by Component Type
7.2.8.2. Market size and forecast by Connectivity Type
7.2.8.3. Market size and forecast by End User
7.3. EUROPE
7.3.1. Key market trends and opportunities
7.3.2. Market size and forecast by Component Type
7.3.3. Market size and forecast by Connectivity Type
7.3.4. Market size and forecast by End User
7.3.5. Market size and forecast by Country
7.3.6. UK SMART LIGHTING MARKET
7.3.6.1. Market size and forecast by Component Type
7.3.6.2. Market size and forecast by Connectivity Type
7.3.6.3. Market size and forecast by End User
7.3.7. FRANCE SMART LIGHTING MARKET
7.3.7.1. Market size and forecast by Component Type
7.3.7.2. Market size and forecast by Connectivity Type
7.3.7.3. Market size and forecast by End User
7.3.8. GERMANY SMART LIGHTING MARKET
7.3.8.1. Market size and forecast by Component Type
7.3.8.2. Market size and forecast by Connectivity Type
7.3.8.3. Market size and forecast by End User
7.3.9. RUSSIA SMART LIGHTING MARKET
7.3.9.1. Market size and forecast by Component Type
7.3.9.2. Market size and forecast by Connectivity Type
7.3.9.3. Market size and forecast by End User
7.3.10. REST OF EUROPE SMART LIGHTING MARKET
7.3.10.1. Market size and forecast by Component Type
7.3.10.2. Market size and forecast by Connectivity Type
7.3.10.3. Market size and forecast by End User
7.4. ASIA PACIFIC
7.4.1. Key market trends and opportunities
7.4.2. Market size and forecast by Component Type
7.4.3. Market size and forecast by Connectivity Type
7.4.4. Market size and forecast by End User
7.4.5. Market size and forecast by Country
7.4.6. CHINA SMART LIGHTING MARKET
7.4.6.1. Market size and forecast by Component Type
7.4.6.2. Market size and forecast by Connectivity Type
7.4.6.3. Market size and forecast by End User
7.4.7. INDIA SMART LIGHTING MARKET
7.4.7.1. Market size and forecast by Component Type
7.4.7.2. Market size and forecast by Connectivity Type
7.4.7.3. Market size and forecast by End User
7.4.8. JAPAN SMART LIGHTING MARKET
7.4.8.1. Market size and forecast by Component Type
7.4.8.2. Market size and forecast by Connectivity Type
7.4.8.3. Market size and forecast by End User
7.4.9. SOUTH KOREA SMART LIGHTING MARKET
7.4.9.1. Market size and forecast by Component Type
7.4.9.2. Market size and forecast by Connectivity Type
7.4.9.3. Market size and forecast by End User
7.4.10. REST OF ASIA PACIFIC SMART LIGHTING MARKET
7.4.10.1. Market size and forecast by Component Type
7.4.10.2. Market size and forecast by Connectivity Type
7.4.10.3. Market size and forecast by End User
7.5. LAMEA
7.5.1. Key market trends and opportunities
7.5.2. Market size and forecast by Component Type
7.5.3. Market size and forecast by Connectivity Type
7.5.4. Market size and forecast by End User
7.5.5. Market size and forecast by Country
7.5.6. LATIN AMERICA SMART LIGHTING MARKET
7.5.6.1. Market size and forecast by Component Type
7.5.6.2. Market size and forecast by Connectivity Type
7.5.6.3. Market size and forecast by End User
7.5.7. MIDDLE EAST SMART LIGHTING MARKET
7.5.7.1. Market size and forecast by Component Type
7.5.7.2. Market size and forecast by Connectivity Type
7.5.7.3. Market size and forecast by End User
7.5.8. AFRICA SMART LIGHTING MARKET
7.5.8.1. Market size and forecast by Component Type
7.5.8.2. Market size and forecast by Connectivity Type
7.5.8.3. Market size and forecast by End User
CHAPTER 8: COMPANY PROFILES
8.1. SCHNEIDER ELECTRIC SE
8.1.1. Company overview
8.1.2. Business performance
8.1.3. Key strategic moves and developments
8.2. HONEYWELL INTERNATIONAL INC.
8.2.1. Company overview
8.2.2. Business performance
8.2.3. Key strategic moves and developments
8.3. GENERAL ELECTRIC COMPANY GE
8.3.1. Company overview
8.3.2. Business performance
8.3.3. Key strategic moves and developments
8.4. KONINKLIJKE PHILIPS N.V. 8.4.1. Company overview
8.4.2. Business performance
8.4.3. Key strategic moves and developments
8.5. OSRAM LICHT AG
8.5.1. Company overview
8.5.2. Business performance
8.5.3. Key strategic moves and developments
8.6. ACUITY BRANDS, INC.
8.6.1. Company overview
8.6.2. Business performance
8.6.3. Key strategic moves and developments
8.7. LEGRAND GROUP
8.7.1. Company overview
8.7.2. Business performance
8.7.3. Key strategic moves and developments
8.8. ZUMTOBEL GROUP AG
8.8.1. Company overview
8.8.2. Business performance
8.8.3. Key strategic moves and developments
8.9. DIGITAL LUMENS, INC.
8.9.1. Company overview
8.9.2. Business performance
8.9.3. Key strategic moves and developments
8.10. LUTRON ELECTRONICS CO, INC.
8.10.1. Company overview
8.10.2. Business performance
8.10.3. Key strategic moves and developments
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