Smart Light Fixture and Control Market Analysis With Key Players and Growth Opportunities by 2023; Acuity Brands, Lutron Electronics, Control4, OSRAM, Zumtobel Group, Philips Lighting and NXP Semiconductors

The global smart light fixture and control market is growing at a CAGR of 17.9% during the forecast period. The global smart light fixture and control market is mainly driven by continuously declining average selling price (ASP) of LED bulbs. LEDs have become much cheaper than any other traditional lighting currently in use.

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The key drivers for reducing LED lighting costs are improving the brightness of light generated, in terms of the power consumed (measured in watt) and reducing production costs, per LED product. As the ASPs have been declining, the LED bulb penetration has been gradually increasing, which is further accelerating the growth of the smart light fixture and control market.

Asia-Pacific leads the global smart light fixture and control market, and is expected to maintain its dominance in the forecast period. The Asia-Pacific smart light fixture and control market is expected to grow, with the fastest rate in the forecast period. The dominance of Asia-Pacific smart light fixture and control market over other regions is due to the heavy demand for new construction, strong economic growth, which is mainly driven by China, and increasing affordability of LED lighting in the region.

The major companies operating in the global smart light fixture and control market include Acuity Brands, Inc., Lutron Electronics Co. Inc., NXP Semiconductors, Control4 Corporation, ams AG, OSRAM Light AG, Zumtobel Group AG, Koninklijke Philips N.V., Leviton Manufacturing Co. Inc. and CommScope Holding Company Inc.

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SMART LIGHT FIXTURE AND CONTROL MARKET SEGMENTATION -
Smart Light Fixture and Control by Lighting Type
• Light Emitting Diode (LED) lighting
• Fluorescent Light
• Compact fluorescent Light
• High Intensity Discharge Lamps
• Plasma Lamps

Smart Light Fixture and Control by Lighting Technology
• Fixture
• Control

Smart Light Fixture and Control by Lighting Applications
• Commercial Applications
• Residential Applications
• Other Applications

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