Smart Lighting Market Trends, Challenges and Growth Drivers Analysis 2024

Smart Lighting Market is projected to surpass USD 24 billion by 2024. Smart lighting incorporates different technologies to enable the automatic controlling of indoor and outdoor lights using automated settings, wireless/mobile controls, and a wide range of different adjustable features. It is a lighting system which is interconnected through a network and is operated and maintained by a centralized system or cloud. Smart lighting includes an MCU (microcontroller unit) based system that integrates electronics, automation, and network communication for improving energy efficiency of the lighting system.

In a conventional lighting system, a light source can only be switched on/off manually, while, instead in a smart lighting system, different preset lighting modes can be preloaded into the system to meet the user’s specific needs. Also, in conventional lighting systems, a heavily loaded lighting system requires high-capacity switch along with large volume of cables to drive a distant load. In connected lighting systems, an output driver directly powers a load without the need for increasing the power capacity of the switch. Moreover, connected lighting systems can be made dimmable and controllable using advanced lighting control devices to further optimize the energy consumption.

Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/413

Technological innovations in LED lighting systems are largely contributing to the growing adoption of smart lighting systems for residential, commercial, and industrial applications. Modern LED lighting systems have an outstanding operational life expectation of up to 100,000 hours. By changing conventional lighting systems to smart LED lights, users do not have to incur repeated cost of replacing the lights for several months or even years. Also, in LED lighting systems, 100% of the electrical energy is converted into light as opposed to traditional incandescent bulbs wherein, 80% of the energy is converted into heat and only 20% is converted into light. Thus, smart LED lighting systems facilitate excellent energy efficiency and minimal energy wastage.

The growing popularity of smart cities one of the major contributing factors for smart lighting market growth. Developing a city-wide intelligent lighting network is becoming one of the key areas of interest while designing and developing smart city infrastructure around the world. With the increasing government emphasis on developing more smart cities to enable better city planning and development, faster delivery of e-government services, energy sustainability and improved local economic development, the deployment of connected lighting systems in smart city projects is likely to increase substantially during the forecast timeline.

The competition in the connected lighting market is primarily characterized by constant product innovation and new product development initiatives by the market players by leveraging the latest advancements in the smart lighting technology and Internet of Things (IoT). These players are consistently involved in strategic partnerships for extending their smart lighting product portfolio and expanding their global presence. Also, a lot of companies are focusing on securing contracts for extensive smart streetlight installation projects from city administrators under smart city projects. Some of the key players operating in the connected lighting market are Bridgelux, Acuity Brands, Cree, Echelon, Cooper Industries (Eaton), OSRAM, Digital Lumens, Honeywell, GE Lighting, Hubbell, Philips Lighting, Legrand, Schneider Electric, Zumtobel, Lutron, Secil, Silver Spring Networks and Tvilight.

Europe is projected to dominate the connected lighting market by 2024 due to the rapid deployment of smart lighting systems in residential, commercial, and government sectors, large-scale smart city projects undertaken in the region supported by favorable government initiatives. Due to the consistent emphasis by the European Union (EU) on accelerated development of smart cities through its funding instrument, The European Innovation Partnership on Smart Cities and Communities (EIP-SCC), industry leaders are focusing on providing more integrated and sustainable lighting solutions to the customers.

Make an inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/413

The Asia Pacific connected lighting market is projected to exhibit fastest growth between 2018 and 2024 due to increasing awareness regarding the benefits of energy efficient lighting systems among the countries in the region to achieve energy security and sustainability objectives. Also, favorable government initiatives to encourage the adoption of energy-efficient LED lights is also expected to accelerate the growth of Asia Pacific connected lighting market.

Browse key industry insights spread across 440 pages with 698 market data tables & 25 figures & charts from the report, “Smart Lighting Market Size By Component (Product [Luminaires {Smart Bulbs, Fixtures}, Light Control {Sensors, Switches & Dimmers, Relays, Router & Gateways, LED Driver & Ballasts}], Technology [Wired {PLC (Power Line Control), PoE (Power over Ethernet), DALI (Digital Addressable Lighting Interface), Hybrid}, Wireless {Bluetooth, Zigbee, Wi-Fi, EnOcean, Hybrid}]), By Lighting Source (LED, Fluorescent Lamp, CFL (Compact Fluorescent Light), HIDL(High Intensity Discharge Lamp), By Application (Indoor Lighting [Residential, Commercial, Industrial], Outdoor Lighting [Highways & Roadways, Public Places, Bridges & Tunnels]), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, Spain, Netherlands, China, Japan, Australia & New Zealand (ANZ), South Korea, India, Singapore, Philippines, Brazil, Mexico, Argentina, GCC, South Africa), Growth Potential, Competitive Market Share & Forecast, 2018 - 2024” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/smart-lighting-market

Glimpse of Table of Content (ToC)

Chapter 1 Methodology & Scope

1.1 Methodology

1.1.1 Statistical model and forecast

1.1.2 Industry insights and validation

1.2 Scope

1.3 Market Definition

1.4 Forecast parameters

1.5 Data Sources

1.5.1 Secondary

1.5.2 Primary

1.6 Abbreviations

Chapter 2 Executive Summary

2.1 Smart lighting industry 3600 synopsis, 2013 – 2024

2.1.1 Regional trends

2.1.2 Component trends

2.1.3 Product trends

2.1.3.1 Luminaries trends

2.1.3.2 Lighting control trends

2.1.4 Communication technology trends

2.1.4.1 Wired technology trends

2.1.4.2 Wireless technology trends

2.1.5 Lighting source trends

2.1.6 Application trends

2.1.6.1 Indoor application trends

2.1.6.2 Outdoor application trends

Chapter 3 Smart Lighting Industry Insights

3.1 Introduction

3.2 Industry segmentation

3.3 Industry landscape

3.4 Evolution of smart lighting technology

3.5 Addressable/opportunity market

3.6 Smart lighting market news

3.7 Smart lighting industry ecosystem analysis

3.8 Technology & innovation landscape

3.8.1 Technological advancements in IoT

3.8.2 Innovation in LED technology

3.9 Regulatory landscape

3.9.1 Energy efficiency requirement standard GB 30255-2013 for LED lamps (China)

3.9.2 Performance requirement standard GB/T24908 standard for non-directional self-ballasted LED luminaire (China)

3.9.3 The European Directive ErP (Energy-related Products) 2009/125/EC

3.9.4 EU No. 874/2012 energy label standards

3.9.5 EU No 1194/2012 regulation for directional LED luminaire energy efficiency standards

3.9.6 ENERGY STAR LABEL (U.S.)

3.10 Industry impact forces

3.10.1 Growth drivers

3.10.1.1 Increasing demand for energy-efficient lighting systems

3.10.1.2 Growing popularity of smart cities

3.10.1.3 Increasing popularity of Li-Fi networked communication technology

3.10.1.4 Increasing awareness regarding intelligent street lighting systems

3.10.2 Industry pitfalls and challenges

3.10.2.1 Security concerns related to smart lighting systems

3.10.2.2 Challenges of cost, performance, and thermal design

3.11 Growth potential analysis

3.12 Porter’s analysis

3.13 PESTEL analysis

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us:

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com

This release was published on openPR.