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Smart Lighting Market Trends, Growth Factor and Top Key Players: Acuity Brands, Eaton, Cree, OSRAM, GE, Honeywell, Hubbell Incorporated, Philips Lighting, Schneider Electric, Lutron Electronics, Zumtobel Lighting, Silver Spring Networks, Digital Lumens, E
Smart Lighting Market
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.
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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.
Smart Lighting Market in communication technology sector is expected to exhibit excellent growth between 2018 and 2024 due to rapid advancements in wireless communication technologies such as LPWAN, Wi-Fi, and hybrid technologies. With the increasing popularity of highly interconnected IoT-based smart city ecosystem, these technologies are expected to play a critical role in enabling such intelligent and data-driven infrastructure.
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.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Acuity Brands
2. Eaton
3. Cree
4. OSRAM
5. GE
6. Honeywell
7. Hubbell Incorporated
8. Philips Lighting
9. Schneider Electric
10. Lutron Electronics
11. Zumtobel Lighting
12. Silver Spring Networks
13. Digital Lumens, Echelon
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Smart Lighting Market, By Lighting Source
o LED
o Fluorescent Lamp
o CFL
o HIDL
Smart Lighting Market, By Application
o Indoor Lighting
o Residential
o Commercial
o Industrial
o Outdoor Lighting
o Highways & Roadways
o Public Places
o Bridges & Tunnels
Europe is projected to hold a dominant position in the 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 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.
Some of the key payers operating in the smart lighting market are Acuity Brands, Bridgelux, Inc., Eaton, Cree, Digital Lumens, Echelon, OSRAM, GE, Honeywell, Hubbell Incorporated, Philips Lighting, Schneider Electric, Lutron Electronics, Tvilight Smart City Lighting, SELC Ireland Limited, Zumtobel Lighting 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 in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/smart-lighting-market
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