Easy Installation and Control Drives Global Smart Light Fixture and Control Market
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Low price of sensors to fuel the global market
The global smart light fixture and control market trend comprises easy installation and control, high demand in commercial & residential spaces, as well as low price of sensors. However, Huge installation cost might limit the smart light fixture and control market growth. Additionally, increase in government initiatives about low energy consumption across the globe would offer an opportunity for players of market.
The global smart light fixture and control market has been divided into lighting type, technology, application, and geography. Lighting type contains LED, HID lamps, CFL, plasma lamps, and fluorescent lights. Fixture, and control are included in the technology sub segment. Application segment is further sub segmented into residential, commercial, and other applications. North America (U.S., Mexico, and Canada), Europe (France, Italy, Germany, UK, and Rest of Europe), Asia-Pacific (Japan, China, India, South Korea, and Rest of Asia-Pacific) and RoW (Middle East, South America, and Africa) are the key geographical regions included in this market.
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LED, by lighting type, dominated the global market in 2016
In 2016, LED in the lighting type dominated the global market with maximum market share and expected to continue its dominance over the forecast period, 2016– 2024. The growth of this segment is driven by its numerous properties such as energy efficient, environment friendly, long lifetime, as well as controllable.
Fixture of technology segment, accounted for the largest share of the global market in 2016
In the technology segment, fixture held the major market share in 2016, and likely to be predominant during the forecast period 2016– 2024. Their widespread usage in commercial and residential areas is the driving factor for the growth of this segment.
Commercial, by application held maximum share in the global market in 2016
Commercial accounted major market share in 2016 and anticipated to likely to continue the trend over the forecast period, 2016 – 2024, owing to extensive usage of lights in offices due to 24/7 working shifts & usefulness of lighting control systems which uses factors like occupancy, available daylight, and lights turning on or off according to time
Asia-Pacific dominated the global market in 2016
Asia-Pacific held major market share in 2016 and anticipated to be the leading region over the forecast period, 2016– 2024, due to the rapidly occurring infrastructural expansion in the region.
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Key players are offering innovative products and services to increase their smart light fixture and control market share. Major players of the market are OSRAM Licht AG, Cooper Industries, Inc., Acuity Brands Lighting, Inc., General Electric Company, Honeywell International, Philips Lighting, Digital Lumens, Inc., StreetLight Vision, Schneider Electric SE, and Legrand S.A., among others.
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