Press Releases

The global smart lighting market is estimated to be valued at USD 12.0 billion in 2020 and is expected to reach USD 32.0 billion by 2027, growing at a CAGR of 20.4% during 2021-2027. The key strategy adopted by the companies operating in the smart lighting ecosystem are new product launch and existing portfolio enhancement. Globally, industry players in the smart lighting industry are leveraging market growth through the establishment of growth strategies related to organic and inorganic growth mechanisms along with the incorporation of several strategic partnerships by the key players occurring in this industry.

Indoor Communication segment held the larger share in the smart lighting market in 2019

On the basis of Communication, the smart lighting market is segmented into the indoor Communication and outdoor Communication. Among these two segments, the indoor Communication held the larger share in 2019 in the global market. 

The indoor Communication is further sub-segmented into commercial, residential and others. Among these subcategories, residential Communications are excessively being installed in accordance with an entire house or even for a specific room. Moreover, the market for residential indoor Communications is expected to witness the fastest growth during the forecast period in the market due to the establishment of a wireless technique.

Geography Insight

Geographically, Asia-Pacific is expected to witness the fastest growth during the forecast period in the smart lighting market owing to massive growth perspective provided to the manufacturers by this region and these lighting systems are extensively being adopted by the consumers in developing their household and making it digitalized. Increasing activities pertaining to construction in Asia-Pacific is extensively contributing to the growth of the market in the region.

Competitive Insight

Some of the key players operating in the global smart lighting market include Cree Inc., Hubbell Lighting Inc., Koninklijke Philips N.V., Osram Licht AG, Schneider Electric SA, Zumbotel Group AG, Acuity Brands Inc, Digital Lumens Inc., Honeywell International Inc., and Legrand SA.

Key Takeaway from the Report:

• Among all the source, LED segment held the largest share in the market in 2019.
• Of all the communication, the wireless technology is expected to witness the fastest growth during the forecast period.
• Among all the Communication, the indoor Communication held the larger share in 2019 in the global market.

The Report Offers:

• Historical market estimate for the years 2015–2020 and forecast for the years 2021–2027
• Insight on current market trends, market dynamics, key opportunities and major challenges in the industry
• Market insights by in-depth segmentation with industry dynamics.
• Competitive analysis and benchmarking of the industry leaders and their product offerings
• Profiles of leading players and innovators, their financial overview and product portfolio
• Analysis of key industry trends and recent developments
• Value chain analysis and distribution channel analysis with opportunity assessment
• Market share analysis of major players

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The report provides the market value for the base year 2019 and a yearly forecast till 2025 in terms of revenue (USD Million). The report segments the global smart lighting market on the basis of product, source, communication, Communication, and region.

Global Smart Lighting Market Coverage

Product Insight and Forecast 2015 – 2027

• Lighting Control
• Luminaries

Source Insight and Forecast 2015 – 2027

• Light Emitting Diode (LED)
• Fluorescent Lamp
• High Intensity Discharge Lamp
• Others

Communication Insight and Forecast 2015 – 2027

• Wired
• Wireless

Application Insight and Forecast 2015 – 2027

• Outdoor
• Indoor

Geographical Segmentation

Smart Lighting Market by Region

North America

• By Product
• By Source
• By Communication
• By Application
• By Country – U.S., Canada, and Mexico

Europe

• By Product
• By Source
• By Communication
• By Application
• By Country – Germany, U.K., France, Italy, Spain, and Rest of Europe

Asia-Pacific (APAC)

• By Product
• By Source
• By Communication
• By Application
• By Country – China, Japan, India, South Korea, Singapore, and Rest of Asia-Pacific

Rest of the World (RoW)

• By Product
• By Source
• By Communication
• By Application
• By Country – Brazil, South Africa, Saudi Arabia, and Other Countries