Smart Lighting Market Key Players 2018-2024: Acuity Brands, Bridgelux, Cooper Industries, Cree, Digital Lumens, Echelon, OSRAM, GE Lighting, Philips Lighting, Honeywell, Hubbell, Schneider Electric, Legrand, Lutron, Tvilight, Secil, Zumtobel, Silver Sprin

The 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.

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.

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

In the light control market, sensors are expected to exhibit the fastest adoption over the forecast period. This accelerated adoption can be attributed to technological advancements in different types of sensors, such as occupancy sensors and motion sensors, which enhance the ability of smart lighting systems to effectively react to the surrounding conditions. Also, as these sensors enable remote operability of lighting systems through mobile devices, their utility in connected lighting solutions is likely to increase substantially over the forecast timeline.

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 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 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.

Smart Lighting Market was estimated at over USD 6 billion in 2017, and is set to exceed USD 24 billion by 2024.

Growth Drivers

. Increasing demand for energy-efficient lighting systems

. Growing popularity of smart cities

. Increasing popularity of Li-Fi networked communication technology

. Increasing awareness regarding intelligent street lighting systems

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

The Asia Pacific smart lighting market is projected to witness the fastest growth between 2018 and 2024 due to growing awareness among emerging economies including India, Japan, and Singapore regarding the efficacy of connected lighting systems in enabling significant cost savings through optimal energy consumption.

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.

Some of the key players operating in the smart lighting market are Acuity Brands, Bridgelux, Cooper Industries (Eaton), Cree, Digital Lumens, Echelon, OSRAM, GE Lighting, Philips Lighting, Honeywell, Hubbell, Schneider Electric, Legrand, Lutron, Tvilight, Secil, Zumtobel, and Silver Spring Networks.

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

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: www.gminsights.com

This release was published on openPR.