Smart Lighting Market Is Predicted To Witness Incremental Growth In The Forecast Period 2022-2031 | Koninklijke Philips NV, Cree Inc., General Electricity Company
The global smart lighting market report by the business research company identifies the government support in developed and developing economies drive the growth of the smart lighting market. The growth of the smart lighting market in emerging markets is reinforced by the increase in disposable incomes, regulatory support in using energy-efficient lights, and the incorporation of advanced technologies. A smart lighting system confirms high-cost savings and lower energy consumption.
The global smart lighting market grew from $11.03 billion in 2021 to $13.15 billion in 2022 at a compound annual growth rate (CAGR) of 19.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The smart lighting market is expected to grow to $26.21 billion in 2026 at a CAGR of 18.8%.
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North America was the largest region in the smart lighting market in 2021. Western Europe was the second-largest region in the smart lighting market. The regions covered in the smart lighting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Major players in the smart lighting market are Koninklijke Philips NV, Cree Inc., General Electricity Company, Acuity Brands Inc., Cisco Systems Inc., Eaton, Deco Lighting, Dialight, Honeywell Inc., and Osram Licht AG.
The global smart lighting market is segmented -
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
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The Smart Lighting Market Report Contents Include
1. Executive Summary
2. Smart Lighting Market Characteristics
3. Smart Lighting Market Trends And Strategies
4. Smart Lighting Market - Macro Economic Scenario
5. Smart Lighting Market Size And Growth
26. Africa Smart Lighting Market
27. Smart Lighting Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Smart Lighting Market
29. Smart Lighting Market Future Outlook and Potential Analysis
This report covers the trends and market dynamics of the smart lighting market in major countries - Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The report also includes consumer surveys and various future opportunities for the market.
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