openPR Logo
Press release

Smart Lighting Market Are Anticipated to Lucrative Growth Opportunities In The Future By Silver Spring Networks, SELC Ireland Ltd., Schneider Electric Software LLC, Philips Lighting N.V., OSRAM Licht Group, Lutron Electronics Co., Inc., Legrand SA, Hubbel

03-30-2020 11:15 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: marketstudyreport.com

/ PR Agency: marketstudyreport
Smart Lighting Market Are Anticipated to Lucrative Growth

According to the research report titled 'Smart Lighting Market Size By Component, By Technology, By Application, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2019 - 2025', available with Market Study Report LLC, the global smart lighting market is expected to surpass USD 23 billion by the year 2025.

Rising adoption of LED lighting systems and recent government reforms which encourage efficient lighting technologies are major factors driving smart lighting market growth. Downward trend in the price of LED lamps is aiding the expansion of the market. Growing population and rising energy consumption have compelled various governments to adopt technologically advanced solutions in order to conserve energy. Adding to this, numerous smart city development projects across the globe are facilitating the business scenario.

Request sample copy of this Report@ https://www.marketstudyreport.com/request-a-sample/1047492/?utm_source=Openpr.com-AN

Increasing usage of intelligent street lighting systems and surging adoption of Li-Fi technology is stimulating the industry outlook. However, data security and safety concerns associated with the use of smart lighting technology may hinder the growth of the market. Moreover, smart lighting systems are relatively expensive and have design & performance issues, which in turn, may hamper the market growth.

As per the component type, smart lighting hardware market segment is expected to register substantial growth during the estimated timeframe. Advent of IoT devices and rising adoption of smart bulbs are fueling the growth of the segment. Meanwhile, smart lighting software market segment will expand with a CAGR of 22% during 2019-2025, cites the report. Rising adoption of home automation and smart home solutions, in tandem with integration of wireless technology is aiding the market expansion.
The report cites that wired technology segment presently holds 70% share of smart lighting market. The growth is attributed to increasing utilization of PLC and DALI protocols in outdoor and residential applications respectively. On the other hand, wireless technology segment is expected to grow with 21% CAGR through 2025. Wireless technology is not only cost effective, but also offers convenience and flexibility.

Based on the application spectrum, the report states that indoor lighting application segment holds 78% revenue share of smart lighting market. Growing trend of home automation and favorable federal reforms, along with surging need for efficient smart lighting solutions are contributing towards the growth of the market in terms of indoor lighting applications.

As per the regional analysis, Europe held 35% share of the global smart lighting market in 2018. Rising usage of LED lamps, improving economy, increasing smart city development programs, and favorable government policies are augmenting the demand for smart lighting solutions across the region. On the other hand, the report cites that Asia-Pacific smart lighting market will expand with a CAGR of 19% during 2019-2025.

Request a discount on standard prices of this report at: https://www.marketstudyreport.com/check-for-discount/1047492/?utm_source=Openpr.com-AN

The prominent companies operating in smart lighting market are Silver Spring Networks, SELC Ireland Ltd., Schneider Electric Software LLC, Philips Lighting N.V., OSRAM Licht Group, Lutron Electronics Co., Inc., Legrand SA, Hubbell, Inc., Honeywell International, Inc., General Electric Co., Echelon Corp., Digital Lumens, Inc. (Osman Licht AG), Cree, Inc., Cooper Industries, Inc. (Eaton), Bridgelux, Inc., and Acuity Brands.

Question and Answers: Smart Lighting Market

Question 1: Why is smart lighting market witnessing continuous growth?
Answer: Rising adoption of LED lighting systems and recent government reforms which encourage efficient lighting technologies are major factors driving smart lighting market growth. Downward trend in the price of LED lamps is aiding the expansion of the market. Growing population and rising energy consumption have compelled various governments to adopt technologically advanced solutions in order to conserve energy. Adding to this, numerous smart city development projects across the globe are facilitating the business scenario. Increasing usage of intelligent street lighting systems and surging adoption of Li-Fi technology is stimulating the industry outlook.
Question 2: How will component segment generate revenue for smart lighting market?
Answer: Smart lighting hardware market segment is expected to register substantial growth during the estimated timeframe. Advent of IoT devices and rising adoption of smart bulbs are fueling the growth of the segment. Meanwhile, smart lighting software market segment will expand with a CAGR of 22% during the period of 2019-2025. Rising adoption of home automation and smart home solutions, in tandem with integration of wireless technology is aiding the market expansion.

Question 3: What factors are driving the Europe smart lighting market growth?
Answer: Europe held 35% share of the global smart lighting market in 2018. Rising usage of LED lamps, improving economy, increasing smart city development programs, and favorable government policies are augmenting the demand for smart lighting solutions across the region.
Question 4: What are the prominent companies operating in the smart lighting market?
Answer: The prominent companies operating in smart lighting market are Silver Spring Networks, SELC Ireland Ltd., Schneider Electric Software LLC, Philips Lighting N.V., OSRAM Licht Group, Lutron Electronics Co., Inc., Legrand SA, Hubbell, Inc., Honeywell International, Inc., General Electric Co., Echelon Corp., Digital Lumens, Inc. (Osman Licht AG), Cree, Inc., Cooper Industries, Inc. (Eaton), Bridgelux, Inc., and Acuity Brands.

Contact Us:
Market Study Report LLC
4 North Main Street,
Selbyville, Delaware 19975
USA
Phone: 1-302-273-0910
US Toll Free: 1-866-764-2150
Email: sales@marketstudyreport.com
Website: https://www.marketstudyreport.com
Blog: https://www.marketstudyreport.com/blog

About Us:
Marketstudyreport.com allows you to manage and control all corporate research purchases to consolidate billing and vendor management. You can eliminate duplicate purchases and customize your content and license management.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Smart Lighting Market Are Anticipated to Lucrative Growth Opportunities In The Future By Silver Spring Networks, SELC Ireland Ltd., Schneider Electric Software LLC, Philips Lighting N.V., OSRAM Licht Group, Lutron Electronics Co., Inc., Legrand SA, Hubbel here

News-ID: 1989931 • Views: 481

More Releases from marketstudyreport.com

Covid -19 Impact on Video Conferencing Market Size 2026: Top Companies, Trends a …
Market Study Report recently introduced new title on “2020-2026 Global Video Conferencing Market Report” from its database. The report provides study with in-depth overview, describing about the Product, Industry Scope and elaborates Market size outlook and status to 2026. Video Conferencing Market size is anticipated to grow at over 19% CAGR between 2020 and 2026. The global video conferencing market is set to register a tremendous rise in its growth
What's driving the Patient Monitoring Devices Market Size? Fukuda, Philips, Skan …
Selbyville, Delaware the prime objective of Patient Monitoring Devices report is to help the user understand the market in terms of its definition, segmentation, market potential, influential trends, and the challenges that the market is facing. Deep researches and analysis were done during the preparation of the report. Wireless segment is anticipated to witness more than 5% growth over the forecast period. Substantial growth can be attributed to rising preference for
What's driving the 3D Implants Market trends? Stryker, Smith and Nephew, DJO Glo …
The 3D Implants market report provides a detailed analysis of global market size, regional and country-level market size, segmentation market growth, market share, competitive Landscape, sales analysis, impact of domestic and global market players, value chain optimization, trade regulations, recent developments, opportunities analysis, strategic market growth analysis, product launches, area marketplace expanding, and technological innovations. Request a sample Report of 3D Implants Market at: https://www.marketstudyreport.com/request-a-sample/2679238/?utm_source=OPR.com/&utm_medium=SP The most likely (base case) scenario
Artificial Vascular Implants Market is thriving worldwide by 2025 | Top Key Play …
Global Artificial Vascular Implants Market Report added at Market Study Report LLC offers industry size, share, growth, trends and forecast analysis up to 2025. Artificial Vascular Implants Market Report also covers top key players, porters five forces analysis and market segmentation in detail. This report examines the global Artificial Vascular Implants market and provides information regarding the revenue for the period 2020 to 2025. The Artificial Vascular Implants market report provides

All 5 Releases


More Releases for Lighting

Residential Lighting Market Top Players || EVERLIGHT; Hinkley Lighting; IKIO LED …
Residential Lighting Market research report comprises of several parameters which are thoroughly studied by the experts. To generate the best market analysis report, a range of objectives of the marketing research are required to be kept in mind. With this industry report it becomes simpler for customers to understand the various drivers and restraints impacting the market during the forecast period. Residential Lighting Market report helps to provide such market
LED Lighting Optics Market
“Global LED Lighting Optics Market Insights, Forecast to 2025” This report researches the worldwide LED Lighting Optics Market size (value, capacity, production and consumption) in key regions like North America, Europe, Asia Pacific (China, Japan) and other regions. The report provides a unique tool for evaluating the Market, highlighting opportunities, and supporting strategies. This report recognizes that in this rapidly-evolving and competitive environment, up-to-date Marketing information is essential to monitor
Global Train Lighting
“Global Train Lighting Industry Report" is an expert and in-depth analysis of key business and future development prospects, key determinants and restrictions, profiles of major market players, segmentation and forecasting. In this report, the global Train Lighting market is valued at USD XX million in 2017 and is expected to reach USD XX million by the end of 2025, growing at a CAGR of XX% between 2017 and 2025. You can
LED Lighting Dominates Public Street Lighting Strategy
Street lighting is central to an urban centre’s infrastructure. The City of Ryde in NSW is currently undertaking LED retrofit projects with smart control LED technology. The technology is proving to be superior to older lighting technologies in reducing energy consumption and improving lighting management. Moving away from outdated technologies towards smart-controlled LED lighting yields a whole host of benefits from helping cities to save on lighting expenditure, improving lighting
Global Track Lighting Market 2017 - Eaton, Juno, Lithonia Lighting, Satco, Hubbe …
Track lighting is a method of lighting where light fixtures are attached anywhere on a continuous track device which contains electrical conductors. This is as opposed to the routing of electrical wiring to individual light positions. Tracks can be mounted to ceilings or walls, lengthwise down beams, or crosswise across rafters or joists. They can also be hung with rods from especially high places like vaulted ceilings. Scope of the Report: This
Explosion Proof Lighting Market 2017 - GE Lighting, Hatch Transformers, Osram Sy …
The Global Explosion Proof Lighting Market 2017 Industry Research Report focused on global and regional market, major manufacturers, as well as the current state of the Explosion Proof Lighting industry. First, "Global Explosion Proof Lighting Industry 2017" report analyzed the basic scope of this industry like definition, specification, classification, application, industry policy, news analysis and Explosion Proof Lighting industry chain structure. Major Companies Covered in this report:- GE Lighting Hatch Transformers Osram Sylvania Philips Lighting