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Worldwide Smart Lighting Market By Application 2018- 2024 | Honeywell International Inc, Hubbell Incorporated, Philips Lighting N.V, Schneider Electric Software LLC, Legrand SA, Lutron Electronics Co Inc, TVILIGHT B.V. & More
Smart Lighting
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 connected lighting market are General Electric Company, Honeywell International Inc, Hubbell Incorporated, Philips Lighting N.V, Schneider Electric Software LLC, Legrand SA, Lutron Electronics Co Inc, TVILIGHT B.V., SELC Ireland Limited, Zumtobel Group AG, Silver Spring Networks, Acuity Brands Inc, Bridgelux, Inc. (China Electronics corporation), Cooper Industries Inc (Eaton) Cree Inc, Digital Lumens Inc. (OSRAM Licht AG), Echelon Corporation,OSRAM Licht Group.
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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.
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.
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.
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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.
Table of Content:
Chapter 1 Methodology & Scope
Chapter 2 Executive Summary
Chapter 3 Smart Lighting Industry Insights
Chapter 4 Competitive Landscape
Chapter 5 Smart Lighting Market, By Component
Chapter 6 Smart Lighting Market, By Product
Chapter 7 Smart Lighting Market, By Communication Technology
Chapter 8 Smart Lighting Market, by Lighting Source
Chapter 9 Smart Lighting Market, By Application
Chapter 10 Smart Lighting Market, By Region
Chapter 11 Company Profiles
For More on this Report: https://www.marketstudyreport.com/reports/smart-lighting-market
Related Report:
2018-2023 Global Vehicles Interior Lighting Consumption Market Report
The lighting system consists of lighting and signaling devices mounted or integrated to the front, rear, sides, and in some cases the top of a motor vehicle. This lights the roadway for the driver and increases the visibility of the vehicle, allowing other drivers and pedestrians to see a vehicle's presence, position, size, direction of travel, and the driver's intentions regarding direction and speed of travel. Emergency vehicles usually carry distinctive lighting equipment to warn drivers and indicate priority of movement in traffic.
https://www.marketstudyreport.com/reports/2018-2023-global-vehicles-interior-lighting-consumption-market-report
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