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Smart Lighting Market 2018-2023 Trends and Opportunities With Key Players - Cree, Hubbell Lighting, Osram, Schneider Electric, Acuity Brands, Digital Lumens, Honeywell and Legrand

12-14-2018 05:19 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: P&S Intelligence

Smart Lighting Market 2018-2023 Trends and Opportunities With

Smart lighting market is forecasted to reach $27,064 million by 2023. The growth is attributed to the rising interest of consumers towards the adoption of automation technologies such as internet of things (IoT), and increase in affordability and availability of smart automation technologies, globally.

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Based on wireless lighting communication, Wi-Fi technology generated highest revenue in the global market and Wi-Fi based lighting communication is also projected to witness fastest growth, during the forecast period. However, the market for booming technology Zigbee in lighting industry will pace up with similar growth as that of Wi-Fi.

Advancements in LED based lighting technology through adoption of IoT and wireless lighting techniques is escalating the smart lighting market growth. For example, recently OSRAM Licht AG launched SIMPLUX, a LED based smart control system designed for small and medium sized spaces to provide enterprise level control and automation capabilities.

Geographically, Europe has been the largest smart lighting market, accounting for more than 35% of global revenue in 2016, whereas the sales in Asia-Pacific is expected to witness the fastest growth, during the forecast period. The growth in Asia-Pacific will be led by factors such as surge in digitalization within industries, advancement in new lighting technologies by regional players, growth in investment in smart lighting market, and increasing adoption of connected technologies across indoor and outdoor sectors.

The global smart lighting industry is moderately competitive with players developing new connected and intelligent lighting solutions frequently. Some of the major players operating in this industry are Cree Inc., Hubbell Lighting Inc., Koninklijke Philips N.V., Osram Licht AG, Schneider Electric SA, Zumbotel Group AG, Acuity Brands Inc, Digital Lumens Inc. and Legrand SA.

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Smart Lighting Market Segmentation -
By Source
• Light Emitting Diode
• Fluorescent Lamp
• High Intensity Discharge Lamp (HID)
• Others

By Product
• Luminaries
o Fixture
o Smart Bulb
• Lighting Control
o Switch & Relay
o Driver & Ballast
o Gateway
o Sensor

By Communication
• Wired
o Digital Addressable Lighting Interface (DALI)
o Powerline Communication
o Power Over Ethernet
o Others
• Wireless
o Wi-Fi
o Bluetooth
o Zigbee
o Others

By Application
• Indoor
o Residential
o Commercial
o Others
• Outdoor
o Roadways
o Public Arenas
o Others

By Service
• Smart Phone Application
• Lighting as a Service (LaaS)

About P&S Intelligence

P&S Intelligence, a brand of P&S Market Research, is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

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P&S Intelligence
Toll-free: +1-888-778-7886 (USA/Canada)
International: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com

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