Smart Lighting Market Report Analysis, Trends, Growth, Demand by Region and Forecast Till 2024

Global Smart Lighting Market Research Report and Forecast 2024 Report Edition: 2019 © 2019 IMARC All Rights Reserved

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Global Smart Lighting Market Overview: According to the latest report by IMARC Group, titled “ Smart Lighting Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-202 4 �, the global smart lighting market size reached US$ 7.9 Billion in 2018. Smart lighting is an energy efficient lighting solution with power saving features and automated controls for smooth operations.

This technology enables the user to change the light intensity depending on parameters such as occupancy of daylight availability. It is rapidly replacing traditional lighting solutions as it economical, sustainable and draws lesser power. It is also accessible through smartphone applications which makes it easy to control. Moreover, this lighting system has enabled real-time illumination monitoring, intelligent sensing and improvement in connected lighting technology. The evolution of big data and the internet of things (IoT) has further improved the integration of smart lighting with other automated system used in smart homes.

Smart Lighting Market Trends In recent years, smart lighting has gained popularity across the globe as it helps in minimizing energy wastage. In line with this, various governments around the world are taking initiatives for developing smart cities which have significantly contributed to the demand for these systems.

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157.3 146.7 152.0 141.4 136.1 125.5 130.8

160 140 120 100 80 60 40 20 0

120.2 2011

2012

2013

2014

2015

2016

2017

2018

In Billion US$

in Billion US$

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180 160 140 120 100 80 60 40 20 0

160.0 2019

175.9

181.2

186.5

165.3

170.6

2020

2021

2022

2023

2024

In addition to this, Osram has introduced SymphoCity as an intelligent connected lighting management system which can manage and monitor city-wide lighting infrastructure from one central platform to establish a more connected and secure environment. Looking forward, the market value is projected to reach US$ 23.6 Billion by 2024, expanding at a CAGR of 20% during 2019-2024.

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For instance, under the Chicago Smart Lighting Program, the US Government has replaced over 270,000 outdated high-pressure sodium (HPS) light fixtures with new energy-efficient LED lights to reduce energy costs, improve the environment and ensure safety. Aside from offering various environmental and cost-saving advantages, these systems are also creating a positive impact on society. For example, the installation of smart streetlights in Los Angeles has helped in reducing crimes related to burglary, vandalism and vehicle theft.

Key Market Segmentation: Market Segmentation by Offering • • •

Hardware Software Services

Based on the offering, the market has been segmented into hardware, software and services. Hardware currently dominates the market, holding the largest market share.

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Market Segmentation by Communication Technology • •

Wired Technology Wireless Technology

On the basis of the communication technology, wired technology represents the leading segment, followed by wireless technology.

Market Segmentation by Installation Type • •

New Installation Retrofit Installation

The market has also been categorized based on the installation type into new installation and retrofit installation. Amongst these, new installations dominate the market, accounting for the majority of the overall market share.

Market Segmentation by Light Source

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LED Lamps Fluorescent Lamps Compact Fluorescent Lamps High Intensity Discharge Lamps Others

Based on the light source, the market has been segregated as LED Lamps, fluorescent lamps, compact fluorescent lamps and high-intensity discharge lamps. LED lamps are the most popular segment.

Market Segmentation by Application • • • •

Commercial Residential Public Infrastructure Others

Based on the application, the commercial sector represents the largest application segment, holding a significant market share. Other major application areas include the residential sector & public infrastructure.

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Report Description Market Segmentation by Region • • • • •

Asia Pacific Europe North America Middle East and Africa Latin America

Region-wise, Europe enjoys the leading position in the market. The other major regions include North America, Asia Pacific, Middle East and Africa, and Latin America.

Competitive Landscape: The competitive landscape of the market has also been examined with some of the key players.

• • • •

Philips Lighting Acuity Brands Osram Cree

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General Electric Company Eaton Honeywell Legrand Hubbell Lighting Zumtobel Group Hafele Group Lutron Electronics Wipro Consumer Care and Lighting Streetlight.Vision Virtual Extension Syska LED

Browse Related Report LED Blub Market Report: https://www.imarcgroup.com/led-bulb-manufacturing-plant LED Lighting Market Report: https://www.imarcgroup.com/led-manufacturing-plant

A partial List of

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Clients world's leading corporates, governments, and ourPartial ClientsList of institutions

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of Clients leading corporates, governments, and ourPartial ClientsListworld's institutions

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