Market Analysis
The global smart light and control market is predicted to grow
at a favorable CAGR between 2015- 2027, reveals the latest Market Research
Future (MRFR) report. The smart light and control system, simply put, is an
advanced electronic system that is based on a network having the ability to
manage or improve quality, the trend of lightings as needed by the user, or the
level of lights. It is an intelligent lighting control program that allows
people to control light in the given space. The smart light and control market
is composed of several sensors, communications networks, instruments for output
and input, and one or above operating systems.
Key Players
The prominent players profiled in the smart light and control
market report include Tvilight, Nxp Semiconductors, Lutron, Enlighted, Inc,
Eaton’s Cooper Lighting, Daintree Networks, Commscope, Inc., Bytelight, Ams Ag,
and Acuity Brands, among others.
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Several factors are adding to the global smart light and control
market growth. Some of these factors as per the MRFR report include constantly
declining ASP of LED bulbs, the influx of IoT, smart apps, and remote access
and control by software providers, rising initiatives for smart cities, rising
use of LED bulbs and lights in outdoor lighting, initiatives by the government
for the energy-saving program, increasing supply for energy-efficient lighting
systems, infrastructural and transformation growth, and the growing awareness
about the benefits of smart light and control over conventional switch-operated
lighting systems. Besides, smart light and control are economically and
environmentally efficient, high residential customer demand, increasing use in
commercial step-ups, and increasing implementation of innovative lighting
options are also adding market growth.
On the flip side, high installation and maintenance costs,
growing safety-related risks, and lack of knowledge and information about smart
light and control may hamper the market growth over the forecast period.
COVID-19 Analysis
The COVID-19 outbreak has impacted the demand for services and
products across the globe. The government-imposed lockdowns and trends of
physical distancing have resulted in the shutting down of manufacturing
facilities. The crisis has slowed down the lighting components’ production that
has impacted the market growth drastically. Companies are focussing on reducing
operational investments to maximize profits. Key manufactures have suspended
operations, especially in emerging countries. Besides, the delay or halt to
launch new lighting control systems and decreasing use of LEDs are also
affecting the market growth.
Market Segmentation
The MRFR report highlights an inclusive segmental analysis of
the global Smart
Light And Control Market based on application, connective technology,
components, and types.
By application, the smart light and control market is
segmented into commercial, residential, and others.
By connectivity technology, the smart light and control market
is segmented into wireless connectivity technologies and wired connectivity
technology. Of these, wireless connectivity technology will lead the market
over the forecast period.
By components, the smart light and control market is segmented
into wireless receivers and transmitters, microprocessors, and controllers,
dimmers and switches, sensors, and LED drivers and ballasts.
By types, the smart light and control market is segmented into
high-intensity discharge lamps (HID), light-emitting diodes (LED), compact
fluorescent light (CFL), fluorescent lamps, and others. Of these, the LED lights
will dominate the market over the forecast period.
Regional Analysis
By region, the global smart light and control market covers
the growth opportunity and recent trends across Europe, North America, the Asia
Pacific (APAC), and the Middle East and Africa (MEA). Of these, North America
will steer the market over the forecast period. Increasing awareness about the
perks of smart light and control, high living standards, high per capita
income, and the presence of several key players are adding to the global smart
light and control market growth in the region.
In Europe, the global smart light and control market will have
the second-largest share over the forecast period. The presence of developed
countries, growing demand for smart light and control, and rapid proliferation
of technologies are adding to the smart light and control market growth in the
region.
In the APAC region, the smart light and control market will
grow at a quick pace over the forecast period. The presence of growing countries
like India and China and rich semiconductor industry in China, South Korea,
Japan, and Taiwan are adding to the global smart light and control market
growth in the region.
In the MEA, the smart light and control market will have sound
growth over the forecast period for the growing infrastructural
development.
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Industry Updates
February 2021- Orient Electric has launched a new range of
emergency LED lights.
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