Press release
What's driving the Smart Lighting Market trends? Acuity Brands, Cree, Deako, Echelon Corporation, GE Lighting, Osram, Philips Lighting, Schneider Electric, Silver Spring Networks, and Tvilight
Smart Lighting Market
Smart Lighting Market will surpass USD 23 billion by 2025. The growth of the market is driven by the increasing adoption of LED lighting across the globe. The high performance and the energy-efficient nature of LED lighting are driving their adoption across the indoor & outdoor lighting applications. The decline in the average selling price of LED lamps also serves as the major driver for market growth. The stringent government regulations to restrict the use of inefficient lighting technologies are also accelerating the adoption of smart lighting solutions.
Request a sample of this premium report at https://www.marketstudyreport.com/request-a-sample/1047492?utm_source=openpr.com&utm_medium=AG
The prominent vendors in the smart lighting market space are Acuity Brands, Cree, Deako, Echelon Corporation, GE Lighting, Osram, Philips Lighting, Schneider Electric, Silver Spring Networks, and Tvilight.
Hardware accounts for the majority share in the market. The market growth is credited to the increasing adoption of connected or smart bulbs across the globe. The proliferation of IoT devices is also serving as a major force driving the demand for the hardware market. On the other hand, the software market will grow at a CAGR of over 22% during the forecast period. The growing adoption of smart home and home automation solutions is driving market growth. Moreover, the integration of wireless technology into lighting solutions is also developing multiple new avenues for the growth of the software market.
The increasing smart city development programs are also augmenting the demand for smart lighting solutions. As the worldwide population is increasing and the energy consumption is rising, governments & regulatory authorities across the globe are shifting toward advanced technology solutions to optimize energy consumption. As a result, governments are investing heftily in smart & connected technology solutions to automate operations and reduce energy consumption. This is encouraging the adoption of smart lighting solutions across the globe.
The increasing adoption of the intelligent street lighting system as well as the rising adoption of Li-Fi technology is serving as a major driver for market growth. However, the data safety and security problems related to the use of smart lighting are acting as an inhibitor in the market growth. Also, the performance, cost, and design issues are the major challenges in the implementation of smart lighting solutions.
The high performance and the energy-efficient nature of LED lighting are driving their adoption across the indoor & outdoor lighting applications. The decline in the average selling price of LED lamps also serves as the major driver for market growth. The stringent government regulations to restrict the use of inefficient lighting technologies are also accelerating the adoption of smart lighting solutions.
Wired technology is a leading technology landscape with more than 70% share in the smart lighting market. The growth of the market is credited to the large-scale adoption of DALI and PLC protocols among residential & outdoor applications respectively. The reliability and the ability to withstand harsh environment condition is also supporting the market growth in the region. Whereas, the wireless technology market is projected to grow with a CAGR of over 21% during the forecast period due to numerous benefits offered by the technology including flexibility, convenience, and cost-effectiveness.
Indoor lighting applications are dominating the smart lighting market with more than 78% of share in the revenue. The market is driven by the growing demand for energy-efficient lighting solutions among residential, commercial, and industrial facilities. The supportive government initiatives for the promotion of energy-efficient lighting along with the ban on the use of inefficient lighting solutions is augmenting the market growth. the rising trend of connected bulb and home automation systems fosters the market growth. On the other hand, the outdoor lighting market is projected to attain a CAGR of over 20% during the forecast timeline. The increasing investments by government authorities in smart city development initiatives are accelerating the adoption of the smart lighting solutions.
Europe accounts for more than 35% of share in the smart lighting market in 2018. The growth of the market is attributed to the widespread adoption of LED lamps across the region. The governments across the region have rolled multiple programs to phase out the production and use of inefficient lighting technologies. Moreover, the steady economic condition in the region along with the rising smart city development programs is fostering the market growth. On the other hand, the Asia Pacifics smart lighting market will grow at a CAGR of over 19% during the forecast period. The stringent government regulations on the use of inefficient lighting solutions are accelerating the adoption of smart lighting solutions.
Request a discount on standard prices of this premium report at https://www.marketstudyreport.com/check-for-discount/1047492?utm_source=openpr.com&utm_medium=AG
Report Content
Chapter 1. Methodology & Scope
Chapter 2. Executive Summary
Chapter 3. Global Smart Lighting Industry Insights
Chapter 4. Competitive Landscape
Chapter 5. Global Smart Lighting Market, By Component
Chapter 6. Global Smart Lighting Market, By Technology
Chapter 7. Global Smart Lighting Market, By Application
Chapter 8. Global Smart Lighting Market, By Region
Chapter 9. Company Profiles
9.1. Acuity Brands
9.2. Bridgelux Inc.
9.3. Cooper Industries Inc. (Eaton)
9.4. Cree Inc.
9.5. Digital Lumens Inc. (Osman Licht AG)
9.6. Echelon Corporation
9.7. General Electric Company
9.8. Honeywell International Inc.
9.9. Hubbell Incorporated
9.10. Legrand SA
9.11. Lutron Electronics Co. Inc.
9.12. OSRAM Licht Group
9.13. Philips Lighting N.V.
9.14. Schneider Electric Software LLC.
9.15. SELC Ireland Limited
9.16. Silver Spring Networks
9.17. TVLIGHT B.V.
9.18. Zumtobel Group AG
buying decision on this premium report https://www.marketstudyreport.com/enquiry-before-buying/1047492?utm_source=openpr.com&utm_medium=AG
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 What's driving the Smart Lighting Market trends? Acuity Brands, Cree, Deako, Echelon Corporation, GE Lighting, Osram, Philips Lighting, Schneider Electric, Silver Spring Networks, and Tvilight here
News-ID: 2058510 • Views: …
More Releases from Market Study Report LLC
COVID-19 Detection Kits Market Size o witness substantial growth during 2020-202 …
The research report on ‘COVID-19 Detection Kits market’ scrutinizes the current industry scenario to predict market size, market share, and projects valuation for different segmentations of the industry over 2020-2026. It provides business intelligence regarding various factors driving the industry growth in consort with discussing the challenges faced by the industry, and the approaches followed by market players to counter their impact. COVID-19 Detection Kits Market size to grow with…
What's driving the Small Satellite Market trends? Raytheon, Lockheed Martin, Nor …
Market Study Report LLC adds new research on Small Satellite market, which is a detailed analysis of this business space inclusive of the trends, competitive landscape, and the market size. Encompassing one or more parameters among product analysis, application potential, and the regional growth landscape, Small Satellite market also includes an in-depth study of the industry competitive scenario.
The global Small Satellite market is valued at 1340 million US$ in 2018…
What's driving the Antibiotics Market trends? Sanofi, Novartis AG, Pfizer Inc., …
Market Study Report LLC has added a new report on Antibiotics market that provides a comprehensive review of this industry with respect to the driving forces influencing the market size. Comprising the current and future trends defining the dynamics of this industry vertical, this report also incorporates the regional landscape of Antibiotics market in tandem with its competitive terrain.
The antibiotics was valued at US$ 43,348.38 million in 2019 and is…
What's driving the Electrical House (E-House) Market trends? Schneider Electric, …
Market Study Report LLC has added a new report on Electrical House (E-House) market that provides a comprehensive review of this industry with respect to the driving forces influencing the market size. Comprising the current and future trends defining the dynamics of this industry vertical, this report also incorporates the regional landscape of Electrical House (E-House) market in tandem with its competitive terrain.
Electrical House (E-House), also called Power House, is…
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…
Energy Efficient Lighting Market Explore Future Growth by 2022 | Philips Lightin …
Worldwide Market Reports has announced the addition of the “Global Energy Efficient Lighting Market Research Report 2017”, The report classifies the global Energy Efficient Lighting Market in a precise manner to offer detailed insights about the aspects responsible for augmenting as well as restraining market growth.
The report firstly introduced the Energy Efficient Lighting basics: definitions, classifications, applications and industry chain overview; industry policies and plans; product specifications; manufacturing processes;…
Energy Efficient Lighting Market Forecast to 2023: Acuity Brands, Cooper Lightin …
A report added to the rich database of Qurate Business Intelligence, titled “World Energy Efficient Lighting Market Research Report 2023 (Covering USA, Europe, China, Japan, India and etc)”, provides a 360-degree overview of the Global market. Approximations associated with the market values over the forecast period are based on empirical research and data collected through both primary and secondary sources. The authentic processes followed to exhibit various aspects of the…
Energy Efficient Lighting Market Development and Growth Analysis by Philips Ligh …
Worldwide Market Reports has announced the addition of the “Global Energy Efficient Lighting Market Research Report 2017”, The report classifies the global Energy Efficient Lighting Market in a precise manner to offer detailed insights about the aspects responsible for augmenting as well as restraining market growth.
The report firstly introduced the Energy Efficient Lighting basics: definitions, classifications, applications and industry chain overview; industry policies and plans; product specifications; manufacturing processes;…
Airport Lighting Market by Airport type (Commercial and Military), by Light Type …
ReportsWeb.com has announced the addition of the “Global Airport Lighting Market Research Report 2017” The report focuses on global major leading industry players with information such as company profiles, product picture and specification.
Global airport lighting system market offers good growth opportunity and is likely to grow at 7.6% CAGR during the forecast period of 2016 to 2021. Increasing government investment on airport infrastructure driven by increasing passenger traffic and rising…
Compact Fluorescent Lamp Market 2017 - GE Lighting,Opple Lighting,Panasonic Ligh …
Apex Research, recently published a detailed market research study focused on the "Compact Fluorescent Lamp Market" across the global, regional and country level. The report provides 360° analysis of "Compact Fluorescent Lamp Market" from view of manufacturers, regions, product types and end industries. The research report analyses and provides the historical data along with current performance of the global Compact Fluorescent Lamp industry, and estimates the future trend of…
