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The global Smart Lighting market size is projected to reach approximately $46.90 Billion by 2030, at a CAGR of 20.4% from 2022 to 2030
Report Code: EB_ICT | Page: 160 | Published Date: Upcoming

Category: Technology Tags: Global Smart Lighting Market Analysis, Global Smart Lighting Market Companies, Global Smart Lighting Market Forecast, Global Smart Lighting Market Growth, Global Smart Lighting Market Industry, Global Smart Lighting Market Restraints, Global Smart Lighting Market Share, Global Smart Lighting Market Size, Global Smart Lighting Market Trends
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Description

The global Smart Lighting market size is projected to reach approximately $46.90 Billion by 2030, at a CAGR of 20.4% from 2022 to 2030. A lighting technology that has been designed for efficiency is known as smart lighting. Smart lighting consists of automated controls and high-efficiency fixtures that can be adjusted according to the condition such as daylight availability or occupancy. Smart lights are those which can be controlled wirelessly. The smart bulb can be controlled by a mobile device or a remote for example, increasing or decreasing the brightness level with just a touch of a button. The way a smart bulb works is it connects wirelessly to the next closest bulb using mesh networking.

COVID-19 Impact Analysis

Smart lighting was hit hardest in 2020 and 2021 due to the emergence of novel COVID-19 variants. GE Lighting, Acuity Brands, and Silver Spring Networks incurred significant financial losses because of this. However, the market has been growing significantly due to the new product launches by Original Equipment Manufacturers (OEMs). OEMs are expanding their dealer networks in under-utilized regions to increase perceived sales, thus speeding up market growth.

Market Dynamics

The major drivers of the Smart Lighting Market are upcoming smart city projects in developing countries like India, integrated lighting control systems, integration of smart devices and lighting solutions, increasing awareness by the government and consumers about energy saving and how it will affect the planet and rising use coupled with falling prices of LED across the whole world.

Drivers

Ø  Integration of Lighting Controls with Lamps and Luminaires

The biggest share in the Smart Lighting market during the forecast period is projected to be occupied by lights and luminaires. The reason behind this is the integration of lighting controls with lamps and luminaires. This integration allows the software to be embedded on microcontrollers which adds intelligence to the entire lighting control system. These lighting systems offer control and sensing at a special resolution and this is highly responsible for increasing the demand and accelerating the growth of the smart lighting market.

Restraint:

Ø  Security Issues with IoT-based Lighting

The technology behind the Smart lights is becoming innovative and mainstream, embedded with wireless connectivity modules, sensors, and cameras. This ensures that all the data and information are stored in the cloud so that the user can access it from anywhere. Connected or smart lighting products are usually connected through the Internet. This creates a potential risk of being hacked, either ways of disabling these devices or accessing confidential data. For example, a hacker might gain remote access to a wireless network and then attempt to manipulate smart lighting control systems, door unlocking systems, security camera systems, and so on.

Opportunity:

⮚     Growing Demand for Energy-Efficient Lighting Systems

Companies across the market are currently in need of less energy-consuming technology. The demand for such technologies has a high volume in today’s market. Most systems are electronic or electrical and operate off power and energy sources. The depletion of these energy sources has caused more to be invested in the development of more energy-efficient systems. Smart lighting is a product that uses considerably less power than traditional lighting, which provides it with a good opportunity in the market.

Segment Overview

By Offering

Based on the Offering, the Smart Lighting market is segmented based on Hardware, Software, and Service. The Hardware segment is anticipated to account for the large market share. The smart lighting Hardware segment has been further categorized into lamps and luminaires. The growth in this market is high during the forecast period due to their ability to integrate intelligence with lighting while reducing energy consumption. Hardware demand for connected lights is arising due to the popularity of connected lighting bulbs and fixtures that can change colors, dim light, and switch on/off using a controlling device such as a smartphone or tablet.

 

By Communication Technology

Based on the Communication Technology, the Smart Lighting market is segmented based on Wired and Wireless. The Wired segment is anticipated to account for the large market share. Wired technology is reliable and has several advantages. However, installing newer wiring and related hardware for old or existing buildings is a costly and time-consuming process. In recent years, people’s inclination to buy wireless technology has increased substantially.

 

By Installation Type

Based on Installation Type, the global Smart Lighting market has been divided into New installations and Retrofit. The New Installation segment is expected to hold the largest market share. New installations are projected to grow over the forecast timeline due to several factors such as their superior cost-effectiveness, use of newer technologies, and ease of installation. Wireless technology is very commonly used in these newer installation types.

 

By End-Use Application

Based on End-Use Application, the global Smart Lighting market has been divided into Indoor and Outdoor. The Indoor segment is expected to hold the largest market share. In recent years, the focus on green buildings and smart lights in APAC has gained momentum among companies. The growth will continue to rise in the coming years due to this shift. This would eventually lead to the growth of the indoor market for smart lighting. The commercial segment accounted for the largest share of the market in the segment.

Global Smart Lighting Market Share, by Segmentation

Regional Analysis

Based on region, the global Smart Lighting market has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. Europe is projected to dominate the use of the Smart Lighting market followed by the North America and Asia-Pacific regions.

Europe Market

The European region dominates the global Smart Lighting market owing to the constant rise in the standard of living in European countries. In addition to this, building automation in France, the United Kingdom, and Germany is a major contributing factor. According to the Global Lighting Association (GLA), LED luminaires account for the highest share of the smart lighting market in the European region.

Asia-Pacific Market

The Asia Pacific is expected to witness a significantly high growth rate during the forecast period. The contributing factor behind this growth is the large-scale adoption of Led lamps in the Asia-Pacific region. Government initiatives as well as rising industrialization and urbanization are major factors affecting the smart lighting market in this region.

Competitive Landscape

The market comprises tier-1, tier-2, and local players. With their wide product portfolios, tier-1 and tier-2 players have a global reach. Because of their strategic innovations and broad regional presence, companies such as Signify (Philips Lighting), Legrand S.A., Acuity Brands Inc., Eaton Corporation, Genera, Electric Company, OSRAM Light, Lutron Electronics, Zumtobel Group, Honeywell International Inc., Hubbell Incorporated, lead the global Smart Lighting business. To increase their market position and attract a wide consumer base, the businesses are employing various strategies, such as growth, product releases, and alliances.

Prominent Players:

  • Signify (Philips Lighting)
  • Legrand S.A.
  • Acuity Brands Inc.
  • Eaton Corporation
  • General Electric Company
  • OSRAM Licht
  • Lutron Electronics
  • Zumtobel Group
  • Honeywell International Inc.
  • Hubbell Incorporated

Scope of the Report

Global Smart Lighting Market, by Offering

  • Hardware
  • Software
  • Service

Global Smart Lighting Market, by Communication Technology

  • Wired
  • Wireless

Global Smart Lighting Market, by Installation Type

  • New Installation
  • Retrofit

Global Smart Lighting Market, by End-Use Application

  • Indoor
  • Outdoor

Global Smart Lighting Market, by Region

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Rest of Asia Pacific
  • Rest of the World

 

Parameters Indicators
Market Size 2030: $ 46.90 Billion
CAGR 20.4% CAGR (2022-2030)
Base year 2021
Forecast Period 2022-2030
Historical Data 2020
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Key Segmentations Offering, Communication Technology, Installation Type, and End-Use Application
Geographies Covered North America, Europe, Asia-Pacific, Latin America, Middle East, Africa
Key Vendors Signify (Philips Lighting), Legrand S.A., Acuity Brands Inc., Eaton Corporation, Genera, Electric Company, OSRAM Light, Lutron Electronics, Zumtobel Group, Honeywell International Inc., Hubbell Incorporated
Key Market Opportunities Growing Demand for Energy-Efficient Lighting Systems
Key Market Drivers Integration of Lighting Controls with Lamps and Luminaires

 

REPORT CONTENT BRIEF:

  • High-level analysis of the current and future Smart Lighting market trends and opportunities
  • Detailed analysis of current market drivers, restraining factors, and opportunities in the future
  • Smart Lighting market historical market size for the year 2020, and forecast from 2021 to 2028
  • Smart Lighting market share analysis at each product level
  • Competitor analysis with a detailed insight into its product segment, financial strength, and strategies adopted.
  • Identifies key strategies adopted including product launches and developments, mergers and acquisitions, joint ventures, collaborations, and partnerships as well as funding taken and investment done, among others.
  • To identify and understand the various factors involved in the global Smart Lighting market affected by the pandemic

To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.

For more details mail us at

[email protected]

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    Global Smart Lighting Market FAQs

    1. What is the study period of this market?
    ● The study period of the global Smart Lighting market is 2020 – 2030
    2. What is the growth rate of the global Smart Lighting market?
    ● The global Smart Lighting market is growing at a CAGR of ~ 20.4% over the next 7 years
    3. Which region has the highest growth rate in the global Smart Lighting market?
    ● Asia-Pacific is expected to register the highest CAGR during 2022 – 2030
    4. Which region has the largest share in the global Smart Lighting market?
    ● Europe holds the largest share in 2021
    5. Who are the key players in the global Smart Lighting market?
    ● Signify (Philips Lighting), Legrand S.A., Acuity Brands Inc., Eaton Corporation, Genera, Electric Company, OSRAM Light, Lutron Electronics, Zumtobel Group, Honeywell International Inc., Hubbell Incorporated are the major companies operating in the global Smart Lighting market.
    6. Do you offer Post Sale Support?
    ● Yes, we offer 16 hours of analyst support to solve the queries
    7. Do you sell particular sections of a report?
    ● Yes, we provide regional as well as country-level reports. Other than this we also provide a sectional report. Please get in contact with our sales representatives.

    Table of Contents

    Table of Contents

    Chapter 1.   Executive Summary

    Chapter 2.   Scope Of Study

                          2.1.   Market Definition

                          2.2.   Scope Of The Study

                                    2.2.1.   Objectives of Report

                                    2.2.2.   Limitations

                          2.3.   Market Structure

    Chapter 3.   Evolve BI Methodology

    Chapter 4.   Market Insights and Trends

                          4.1.   Supply/ Value Chain Analysis

                                    4.1.1.   Raw Application Providers

                                    4.1.2.   Manufacturing Process

                                    4.1.3.   Distributors/Retailers

                                    4.1.4.   End Users

                         4.2.    Porter’s Five Forces Analysis

                                    4.2.1.   Threat Of New Entrants

                                    4.2.2.   Bargaining Power Of Buyers

                                    4.2.3.   Bargaining Power Of Suppliers

                                   4.2.4.   Threat Of Substitutes

                                    4.2.5.   Industry Rivalry

                          4.3.   Impact Of COVID-19 on Smart Lighting Market

                                    4.3.1.   Impact on Market Size

                                   4.3.2.   End-User Trend, Preferences, and Budget Impact

                                    4.3.3.   Regulatory Framework/Government Policies

                                    4.3.4.   Key Players' Strategy to Tackle Negative Impact

                                   4.3.5.   Opportunity Window

                          4.4.   Technology Overview

                          4.5.   Macro factor

                          4.6.   Micro Factor

                            4.7.   Demand Supply Gap Analysis of Smart Lighting Market

                            4.8.   Import Analysis of Smart Lighting Market

                            4.9.   Export Analysis of Smart Lighting Market

    Chapter 5.   Market Dynamics 

                          5.1.   Introduction

                          5.2.   DROC Analysis

                                    5.2.1.   Drivers

                                    5.2.2.   Restraints

                                    5.2.3.   Opportunities

                                    5.2.4.   Challenges

                          5.3.   Patent Analysis

                          5.4.   Industry Roadmap

                          5.5.   Parent/Peer Market Analysis

    Chapter 6.   Global Smart Lighting Market, By Offering

                         6.1.   Introduction

                          6.2.   Hardware

                          6.3.   Software

                         6.4.   Service

    Chapter 7.   Global Smart Lighting Market, By Communication Technology

                          7.1.   Introduction

                          7.2.   Wired

                          7.3.   Wireless

    Chapter 8.   Global Smart Lighting Market, By Installation Type

                          8.1.   Introduction

                          8.2.   New Installation

                          8.3.   Retrofit

    Chapter 9.   Global Smart Lighting Market, By End-Use Application

                          9.1.   Introduction

                          9.2.   Indoor

                          9.3.   Outdoor 

    Chapter 10.   Global Smart Lighting Market, By Region

                          10.1.   Introduction

                          10.2.   North America

                                    10.2.1.   Introduction

                                    10.2.2.   Driving Factors, Opportunity Analyzed, and Key Trends

                                   10.2.3.   Market Size and Forecast, By Country, 2020 - 2028

                                    10.2.4.   Market Size and Forecast, By Offering, 2020 - 2028

                                    10.2.5.   Market Size and Forecast, By Communication Technology, 2020 – 2028

                                    10.2.6. US

                                                   10.2.6.1.   Introduction

                                                  10.2.6.2.   Driving Factors, Opportunity Analyzed, and Key Trends

                                                   10.2.6.3.   Market Size and Forecast, By Offering, 2020 - 2028

                                                   10.2.6.4.   Market Size and Forecast, By Communication Technology, 2020 - 2028

                                    10.2.7.   Canada

                                                   10.2.7.1.   Introduction

                                                   10.2.7.2.   Driving Factors, Opportunity Analyzed, and Key Trends

                                                   10.2.7.3.   Market Size and Forecast, By Offering, 2020 - 2028

                                                   10.2.7.4.   Market Size and Forecast, By Communication Technology, 2020 - 2028

                          10.3.   Europe

                                    10.3.1.   Introduction

                                    10.3.2.   Driving Factors, Opportunity Analyzed, and Key Trends

                                    11.3.3.   Market Size and Forecast, By Country, 2020 - 2028

                                    11.3.4.   Market Size and Forecast, By Offering, 2020 - 2028

                                    10.3.5.   Market Size and Forecast, By Communication Technology, 2020 – 2028

                                    10.3.6.   Germany

                                                   10.3.6.1.   Introduction

                                                   10.3.6.2.   Driving Factors, Opportunity Analyzed, and Key Trends

                                                   10.3.6.3.   Market Size and Forecast, By Offering, 2020 - 2028

                                                   10.3.6.4.   Market Size and Forecast, By Communication Technology, 2020 - 2028

                                    10.3.7.   France

                                                   10.3.7.1.   Introduction

                                                   10.3.7.2.   Driving Factors, Opportunity Analyzed, and Key Trends

                                                   10.3.7.3.   Market Size and Forecast, By Offering, 2020 - 2028

                                                   10.3.7.4.   Market Size and Forecast, By Communication Technology, 2020 - 2028

                                    10.3.8.   UK

                                                   10.3.8.1.   Introduction

                                                   10.3.8.2.   Driving Factors, Opportunity Analyzed and Key Trends

                                                   10.3.8.3.   Market Size and Forecast, By Offering, 2020 - 2028

                                                  10.3.8.4.   Market Size and Forecast, By Communication Technology, 2020 - 2028

                                    10.3.9.   Italy

                                                   10.3.9.1.   Introduction

                                                   10.3.9.2.   Driving Factors, Opportunity Analyzed, and Key Trends

                                                   10.3.9.3.   Market Size and Forecast, By Offering, 2020 - 2028

                                                   10.3.9.4.   Market Size and Forecast, By Communication Technology, 2020 - 2028

                                    10.3.10.   Rest Of Europe

                                                   10.3.10.1.   Introduction

                                                   10.3.10.2.   Driving Factors, Opportunity Analyzed, and Key Trends

                                                   10.3.10.3.   Market Size and Forecast, By Offering, 2020 - 2028

                                                   10.3.10.4.   Market Size and Forecast, By Communication Technology, 2020 - 2028

                          10.4.   Asia-Pacific

                                    10.4.1.   Introduction

                                    10.4.2.   Driving Factors, Opportunity Analyzed, and Key Trends

                                    10.4.3.   Market Size and Forecast, By Country, 2020 - 2028

                                    10.4.4.   Market Size and Forecast, By Offering, 2020 - 2028

                                    10.4.5.   Market Size and Forecast, By Communication Technology, 2020 - 2028

                                    10.4.6.   China

                                                   10.4.6.1.   Introduction

                                                   10.4.6.2.   Driving Factors, Opportunity Analyzed, and Key Trends

                                                   10.4.6.3.   Market Size and Forecast, By Offering, 2020 - 2028

                                                   10.4.6.4.   Market Size and Forecast, By Communication Technology, 2020 - 2028

                                    10.4.7.   India

                                                   10.4.7.1.   Introduction

                                                   10.4.7.2.   Driving Factors, Opportunity Analyzed, and Key Trends

                                                   10.4.7.3.   Market Size and Forecast, By Offering, 2020 - 2028

                                                   10.4.7.4.   Market Size and Forecast, By Communication Technology, 2020 - 2028

                                    10.4.8.   Japan

                                                   10.4.8.1.   Introduction

                                                   10.4.8.2.   Driving Factors, Opportunity Analyzed, and Key Trends

                                                   10.4.8.3.   Market Size and Forecast, By Offering, 2020 - 2028

                                                   10.4.8.4.   Market Size and Forecast, By Communication Technology, 2020 - 2028

                                    10.4.9.   South Korea

                                                  10.4.9.1.    Introduction

                                                   10.4.9.2.   Driving Factors, Opportunity Analyzed, and Key Trends

                                                   10.4.9.3.   Market Size and Forecast, By Offering, 2020 - 2028

                                                  10.4.9.4.   Market Size and Forecast, By Communication Technology, 2020 - 2028

                                    10.4.10.   Rest Of Asia-Pacific

                                                   10.4.10.1.   Introduction

                                                  10.4.10.2.   Driving Factors, Opportunity Analyzed, and Key Trends

                                                   10.4.10.3.   Market Size and Forecast, By Offering, 2020 - 2028

                                                  10.4.10.4.   Market Size and Forecast, By Communication Technology, 2020 - 2028

                          10.5.   Rest Of The World (RoW)

                                    10.5.1.   Introduction

                                    10.5.2.   Driving Factors, Opportunity Analyzed, and Key Trends

                                    10.5.3.   Market Size and Forecast, By Offering, 2020 - 2028

                                    10.5.4.   Market Size and Forecast, By Communication Technology, 2020 - 2028

                                    10.5.5.   Market Size and Forecast, By Region, 2020 - 2028

                                    10.5.6.   South America

                                                   10.5.6.1.   Introduction

                                                  10.5.6.2.   Driving Factors, Opportunity Analyzed, and Key Trends

                                                   10.5.6.3.   Market Size and Forecast, By Offering, 2020 - 2028

                                                   10.5.6.4.   Market Size and Forecast, By Communication Technology, 2020 - 2028

                                    10.5.7. The Middle East and Africa

                                                   10.5.7.1.   Introduction

                                                   10.5.7.2.   Driving Factors, Opportunity Analyzed, and Key Trends

                                                   10.5.7.3.   Market Size and Forecast, By Offering, 2020 - 2028

                                                   10.5.7.4.   Market Size and Forecast, By Communication Technology, 2020 - 2028

    Chapter 11.    Competitive Landscape

                          11.1.   Introduction

                          11.2.   Vendor Share Analysis, 2020/Key Players Positioning, 2020

    Chapter 12.   Company Profiles

                          12.1.   Signify (Philips Lighting)

                                    12.1.1.   Business Overview

                                    12.1.2.   Financial Analysis

                                                  12.1.2.1.   Financial – Existing/Funding

                                    12.1.3.   Product Portfolio

                                    12.1.4.   Recent Development and Strategies Adopted

                                    12.1.5.   SWOT Analysis

                          12.2.   Legrand S.A.

                                    12.2.1.   Business Overview

                                    12.2.2.   Financial Analysis

                                                   12.2.2.1.   Financial – Existing/Funding

                                    12.2.3.   Product Portfolio

                                    12.2.4.   Recent Development and Strategies Adopted

                                    12.2.5.   SWOT Analysis

                          12.3.   Acuity Brands Inc.

                                   12.3.1.   Business Overview

                                    12.3.2.   Financial Analysis

                                                   12.3.2.1.   Financial – Existing/Funding

                                    12.3.3.   Product Portfolio

                                    12.3.4.   Recent Development and Strategies Adopted

                                    12.3.5.   SWOT Analysis

                          12.4.   Eaton Corporation

                                    12.4.1.   Business Overview

                                    12.4.2.   Financial Analysis

                                                   12.4.2.1.   Financial – Existing/Funding

                                    12.4.3.   Product Portfolio

                                    12.4.4.   Recent Development and Strategies Adopted

                                    12.4.5.   SWOT Analysis

                          12.5.   Genera

                                    12.5.1.   Business Overview

                                    12.5.2.   Financial Analysis

                                                   12.5.2.1.   Financial – Existing/Funding

                                    12.5.3.   Product Portfolio

                                    12.5.4.   Recent Development and Strategies Adopted

                                    12.5.5.   SWOT Analysis

                          12.6.   Electric Company

     

                                    12.6.1.   Business Overview

                                    12.6.2.   Financial Analysis

                                                   12.6.2.1.   Financial – Existing/Funding

                                    12.6.3.   Product Portfolio

                                    12.6.4.   Recent Development and Strategies Adopted

                                    12.6.5.   SWOT Analysis

                          12.7.   OSRAM Light

                                    12.7.1.   Business Overview

                                   12.7.2.   Financial Analysis

                                                   12.7.2.1.   Financial – Existing/Funding

                                    12.7.3.   Product Portfolio

                                    12.7.4.   Recent Development and Strategies Adopted

                                    12.7.5.   SWOT Analysis

                          12.8.   Lutron Electronics

                                    12.8.1.   Business Overview

                                    12.8.2.   Financial Analysis

                                                   12.8.2.1.   Financial – Existing/Funding

                                    12.8.3.   Product Portfolio

                                    12.8.4.   Recent Development and Strategies Adopted

                                    12.8.5.   SWOT Analysis

                          12.9.   Zumtobel Group

                                    12.9.1.   Business Overview

                                    12.9.2.   Financial Analysis

                                                  12.9.2.1.   Financial – Existing/Funding 

                                    12.9.3.   Product Portfolio

                                    12.9.4.   Recent Development and Strategies Adopted

                                    12.9.5.   SWOT Analysis

                          12.10.   Honeywell International Inc.

                                    12.10.1.   Business Overview

                                    12.10.2.   Financial Analysis

                                                   12.10.2.1.   Financial – Existing/Funding

                                    12.10.3.   Product Portfolio

                                    12.10.4.   Recent Development and Strategies Adopted

                                    12.10.5.   SWOT Analysis

    Chapter 13.   Key Takeaways

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