Press release
Global Smart Lighting Market To Be Dominated by Key Players: Bridgelux, Cree, Digital Lumens, Echelon, Schneider Electric, Acuity Brands, Honeywell, GE Lighting, Secil, Cooper Industries, OSRAM, Lutron, Hubbell, Philips Lighting, Silver Spring Networks, L
Smart Lighting Market
Smart Lighting Market growth is attributed to worldwide initiatives for smart city development and the growing popularity of home and building automation systems in residential, commercial, and industrial sectors. As the modernized smart city infrastructure offers intelligent connectivity among different components of the administrative framework such as transport, healthcare, and law & order, further initiatives for developing smart cities are likely to be undertaken aggressively around the world over the next one decade. Smart lighting market to hit 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
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Top Key Players:
Some of the key payers operating in the smart lighting market are,Bridgelux, Cree, Digital Lumens, Echelon, Schneider Electric, Acuity Brands, Honeywell, GE Lighting, Secil, Cooper Industries (Eaton), OSRAM, Lutron, Hubbell, Philips Lighting, Silver Spring Networks, Legrand, Tvilight, Zumtobel and OSRAM.
Market share calculation in this report is not done based on companies covered in it. The calculation of smart lighting market share is done based on a regional approach and countries covered. On request, additional companies can be covered as well as regional data for particular country / countries can be provided.
Regional Segmentations: -
Europe is projected to hold a dominant position in the smart lighting market by 2024 with a market share over 30%. This market dominance is attributed to growing emphasis on developing smart city infrastructure in the region and the large-sale installation of smart lighting system across the commercial and residential sectors. The European Union (EU) is consistently focusing on developing highly connected smart city infrastructure across the region while encouraging participation from public and private stakeholders. Through its funding instrument, The European Innovation Partnership on Smart Cities and Communities (EIP-SCC), brings together industry and citizens to enhance the urban life using more sustainable and integrated solutions.
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.
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Partial Chapter of the Table of Content
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
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The outdoor lighting market is projected to register a fast growth over the forecast period due to the increasing popularity of intelligent street lighting systems in the smart city infrastructure. With embedded sensors and digital networks, these systems collect and transmit information that helps city administrators to monitor and respond to any circumstances related to air quality, traffic levels, and noise levels on the streets. Also, by intelligently controlling the operating period of lights, substantial cost savings can be realized by minimizing the 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.
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