Smart Lighting Market 2020 Analysis by Global Manufacturers – Koninklijke Philips NV; Cree Inc.; General Electricity Company; Acuity Brands Inc.; Cisco Systems Inc.; Eaton; Deco Lighting; Dialight

The Smart Lighting Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies. We analyzed the impact of COVID-19 (Corona Virus) on the product industry chain based on the upstream and downstream markets, on various regions and major countries and on the future development of the industry are pointed out.

The global smart lighting market is expected to grow from $11.03 billion in 2019 and to $11.40 billion in 2020 at a growth rate of 3.36%. The slow growth in 2020 is mainly due to the economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to grow and reach $18.58 billion in 2023 at CAGR of 17.69%.

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The report presents the market competitive landscape and a corresponding detailed analysis of the major vendor/key players in the market. Top Companies in the Smart Lighting Market: Koninklijke Philips NV; Cree Inc.; General Electricity Company; Acuity Brands Inc.; Cisco Systems Inc.; Eaton; Deco Lighting; Dialight; Honeywell Inc.; Osram Licht AG; Legrand S.A.; Osram GmbH; Wipro Consumer Lighting (Wipro Limited); Syska; Zumbotel Grou

Market Segmentation

1) By Product: Smart Bulbs; Fixtures; Lighting Controls
2) By Application: Commercial; Government; Residential; Others
3) By Light Source: LED; HID; Others
4) By Communication Technology: Wired; Wireless

Key Market Trends

The smart lighting market consists of sales of smart lighting products and services used as a lighting medium for ensuring energy efficiency. The use of sensors for instances like automatic light dimming or adjusting the brightness of light depending on the mood of the user is some of the features of smart lighting. A smart lighting system ensures high-cost savings and lower energy usage. North America was the largest region in the smart lighting market in 2019.

In March 2020, Signify, headquartered in Netherland, specializing in LED lighting systems and services acquired Cooper Lighting for a deal amount of $1.4 billion on a cash and debt-free basis. The deal strengthens Signify’s market positions in North America, with increased innovation power and more competitive offerings. Signify will focus on integrating Cooper Lighting and on delivering synergies. Cooper Lighting is headquartered in United States and specialises in professional lighting, lighting controls, and connected lighting.

The harmful effects of smart lights such as LEDs on health restricts the growth of smart lighting market. Smart lights such as LEDs uses shortwave light, often called cool in color. The prolonged continuous exposure to this light may damage the vision of a person. According to the French Agency for Food, Environmental and Occupational Health & Safety (ANSES)in 2019, the blue lights which is being used in households, offices, headlights, torches, toys and street lighting can damage the eye's retina while disturbing biological and sleep rhythms. The report also concluded that an increased exposure to the blue light emitted from LEDs increases the risk for age-related macular degeneration. Macular degeneration is an eye disease that can cause vision loss in adults. These harmful effects of LEDs on health negatively impacts the demand for the light emitting diode (LED), affecting the growth of smart lighting market.

The use of Li-fi (Light Fidelity) network is the latest trend in the general lighting market. Li-Fi is a wireless optical networking technology that uses light-emitting diodes (LEDs) for data transmission. The Li-fi bulbs are equipped with a small chip that modulates the light used for data transmission. The common household LED light bulbs are used to enable data transfer with speeds up to 224 gigabits per second. Keeping up with the trend, in 2018, VLNComm, a U.S based provider of Li-Fi technology, launched its LumiNex LED panel. LumiNex LED panel is a Li-Fi-enabled general lighting luminaire which is capable of providing 108Mbps download speed. In 2018, Philips, a Netherland based electrical provider, announced its own Li-Fi platform. The platform is being used by a French real estate investment company Lcade.

Supportive government initiatives in developed and emerging markets drive the growth of the smart lighting market across the globe. The emerging growth of the smart lighting market is supported by the rise in disposable incomes, regulatory restrictions in using energy-consuming lamps and the integration of advanced technologies. A smart lighting system ensures high-cost savings and lower energy costs. In the year 2015, the government of India launched UJALA (Unnat Jyoti by Affordable LEDs for All) in order to promote efficient use of energy at the residential level, enhance the awareness of consumers about the efficacy of using energy-efficient appliances. As of 6th March 2020, the UJALA scheme has distributed over 360 million total LED (light-emitting diode) bulbs saving over USD 2.8 billion (INR 18,801 crores). Therefore, supportive government initiatives boost the demand for smart lights thus driving the market for smart lighting.

Influence Of The Smart Lighting Market Report:

-Comprehensive assessment of all opportunities and risk in the Smart Lighting market.
- Smart Lighting market recent innovations and major events.
-A detailed study of business strategies for growth of the Smart Lighting market-leading players.
-Conclusive study about the growth plot of Smart Lighting market for forthcoming years.
-In-depth understanding of Smart Lighting market-particular drivers, constraints and major micro markets.
-Favourable impression inside vital technological and market latest trends striking the Smart Lighting market.

The report has 150 tables and figures browse the report description and TOC:
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What Are The Market Factors That Are Explained In The Report?

Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on regional scale.

Analytical Tools: The Smart Lighting Market Report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.

Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

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