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Global Smart Lighting Market Analysis to 2025 Lead By Osram Licht AG, Honeywell, Koninklijke Philips N.V, Eaton, Digital Lumens, Lutron Electronics, General Electric, Legrand SA, Streetlight.Vision and Acuity Brands
Global Smart Lighting Market
The global Smart Lighting market is expected to grow from US$ US$ 12.29 Bn in 2016 to US$ 51.05 Bn by 2025 at a CAGR of 17.1% between 2016 and 2025.
Major players in the global smart lighting market comprises of Osram Licht AG (Germany), Honeywell International Inc. (U.S.A), Koninklijke Philips N.V. (Netherland), Eaton Corporation PLC. (Ireland), Digital Lumens Inc. (U.S.A), Lutron Electronics Company Inc. (U.S.A), General Electric Company (U.S.A), Legrand SA (France), Streetlight.Vision (France) and Acuity Brands Lighting Inc. (U.S.A).among others.
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The smart lighting is a technology that enables its users to govern the lighting of any space without being surrounded by unnecessary wires. Smart lighting is a part of upcoming IoT technology, facilitating mobile and sensor based control on the luminosity of lights in a particular space. The intelligent connected lighting offers ecofriendly environment and effectively reduces the consumption of energy.
The global smart lighting market is fragmented on the basis of lighting Type into. Light Emitting Diode (LED) Lamp, Fluorescent Lamps, Compact Fluorescent Lamps (CFL), High Intensity Discharge Lamps and Others (Neon Lamps and Photographic Flashes). Furthermore the segmentation is based upon application of smart lighting viz. Industrial lighting, Commercial lighting, Residential lighting, Outdoor lighting, Automotive lighting and Government. According to the geographic regions, the market is segmented into Europe, Middle East & Africa (MEA), Asia Pacific (APAC), North America and South America (SAM). With many developing countries in the region of Middle East and Africa, it is expected to have the highest CAGR of 24.4% during the forecast period.
The wireless technology has become an integral part of day to day lifestyle. Wireless technologies like Bluetooth, Wi-Fi, and RF Ids are experiencing high adoption rate among users. The rising popularity of wireless technology in lighting solution is thus considered to be one of the major reasons driving the smart lighting market. The wireless lighting solutions are easy to control and help its customers to attain maximum energy saving.
The lighting hardware is highly integrated and dependent on the software platform being used. As there is no common standard for wireless smart lighting products, the complete idea of various smart lighting devices networked together and the entire process of networking becomes complicated. For example, Philips employs ZigBee Light Link, GreenWave uses NXP JenNet-IP and Insteon uses its own wireless technology and all these are incompatible with each other. This incompatibility would result in inconvenience for the user as the choice of products and services will get limited by the platform being used, or else the entire operation of smart lighting would get complicated.
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