Market Analysis
The global smart lighting market size is predicted to touch USD 25 billion at a 27% CAGR between
2017- 2023 states the recent Market Research Future (MRFR) analysis. Smart lighting, simply put, is lighting systems that are embedded with different wireless technologies and sensors that can reduce the consumption of energy in comparison to a conventional lighting system. It has both indoor and outdoor uses.
Various factors are propelling the global Smart Lighting Market Trends. As per the current MRFR report, such factors include increasing awareness regarding energy savings among governments and consumers across the globe, availability of lights with smart devices, increasing adoption of LEDs and decreasing cost, the trend for smart city projects in the developing economies, and the launch of integrated lighting control systems. Additional factors adding market growth include demand for intelligent street lighting systems, demand for energy-efficient lighting systems, advances in wireless communication technology, and the emergence of internet of things technology for smart lighting.
Key Players
Prominent players profiled in the global smart lighting market report include Digital Lumens, Inc. (U.S.), Cooper Industries, Inc. (Ireland), CREE, Inc. (U.S.), Schneider Electric SE (France), Legrand S.A. (France), Honeywell International Inc. (U.S.), Osram Licht AG (Germany), General Electric Company (U.S.), Acuity Brands Lighting, Inc. (U.S.), and Philips Lighting Holding B.V. (The Netherlands), among others.
Get Sample of Report @ https://www.marketresearchfuture.com/sample_request/960
On the contrary, high installation cost, high maintenance cost, lack of professional experts, and a temporary halt in manufacturing facilities due to the current COVID-19 pandemic are factors that may impede the global smart lighting industry growth over the forecast period.
Market Segmentation
The MRFR report provides an inclusive segmental analysis of the global smart lighting market report based on application, software and service, light source, communication technology, and type.
By type, the global smart lighting market is segmented into lighting control and fixtures smart bulbs.
By light source, the global smart lighting market is segmented into HD light source, fluorescent light source, LED light source, & another light source.
By communication technology, the global smart lighting market is segmented into wireless communication technologies and wired communication technologies. Of these, wired communication technologies will lead the market over the forecast period.
By software and service, the global smart lighting market is segmented into service into lighting as a service and smartphone applications.
By application, the global smart lighting market is segmented into outdoor lighting and indoor lighting. Of these, outdoor lighting will spearhead the market over the forecast period.
Regional Analysis
Based on the region, the global smart lighting market report covers the growth opportunities and recent trends across the Asia Pacific (APAC), North America, Europe, & the Rest of the World (RoW). Of these, Europe will have the lions share in the market over the forecast period. Stringent government regulations to limit the usage of inefficient lighting technologies, increasing use of LED lamps, the smart city development initiative, and the adoption of advanced technologies are adding to the global smart lighting market growth in the region.
The global smart lighting market in North America is predicted to have notable growth over the forecast period for the rising use of smart lighting systems as energy-efficient lighting solutions.
The global smart lighting market in the APAC region is predicted to have healthy growth over the forecast period. Increasing adoption as energy-efficient lighting solutions, low labor costs, abundant raw material supply, fall in the cost of LED lamps, supportive government initiatives, rising adoption of connected lamps, and increasing urbanization & industrialization are adding to the global smart lighting market growth in the region.
The global smart lighting market in the RoW is predicted to have sound growth over the forecast period.
Get complete Report @ https://www.marketresearchfuture.com/reports/global-smart-lighting-market-960
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Media Contact:
Market Research Future (Part of Wantstats Research and Media Private Limited)
99 Hudson Street, 5Th Floor
New York, NY 10013
United States of America
+1 628 258 0071 (US)
+44 2035 002 764 (UK)
Email: sales@marketresearchfuture.com
Website: https://www.marketresearchfuture.com
No comments:
Post a Comment