North America Smart Lighting Market Report, Growth Projection, Future Insights and Business Overview 2021-2026

According to IMARC Group latest report titled "North America Smart Lighting Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026", offers a comprehensive analysis of the industry, which comprises insights on North America Smart Lighting market. The report also includes competitor and regional analysis, and contemporary advancements in the market. The North America smart lighting market reached a value of US$ 3,766 Million in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 17.1% during 2021-2026.

Smart lighting represents new-age light sources integrated with automated controls and power-saving features. Some of the common product types include light-emitting diode or LED Lamps, fluorescent lamps, high-intensity discharge lamps, compact fluorescent lamps, etc. These smart lighting systems are sustainable, highly economical, draw lesser power, and enable the users to change the light intensity depending on multiple parameters, such as occupancy or daylight availability. They are even accessible through smartphone apps, which make them extremely easy for the user to control. The smart lighting variants have enabled intelligent sensing, real-time illumination monitoring, and improvement in connected lighting technology. Consequently, they find widespread applications in commercial, residential, and public infrastructures across North America.

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Market Trends:

The growing demand for energy-efficient lighting products that provide enhanced illumination while consuming less power is among the key factors driving the North America smart lighting market. Moreover, the increasing modernization of infrastructure and the escalating construction of smart cities are acting as significant growth-inducing factors. Additionally, the rising investments by individuals living in urban areas in modular and intelligent lighting solutions instead of buying high-energy consuming lights are further stimulating the regional market. Apart from this, the shifting preferences toward lighting systems equipped with sensor and wireless technology and the inflating expenditure by leading market players in research and development (R&D) activities are also positively influencing the market across the region. Furthermore, the elevating technological advancements, including the internet of things (IoT) and big data that have improved the integration of smart lights with other automated systems utilized in smart homes are expected to propel the North America smart lighting market over the forecasted period.

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North America Smart Lighting Market Segmentation:

Our report has categorized the market based on region, offering, communication technology, installation type, light source and application.

Key Regions Analysed:
• United States
• Canada
• Mexico

Breakup by Offering:
• Hardware
o Lights and Luminaires
o Lighting Controls
• Software
• Services
o Design and Engineering
o Installation
o Post-Installation

Breakup by Communication Technology:
• Wired Technology
• Wireless Technology

Breakup by Installation Type:
• New Installation
• Retrofit Installation

Breakup by Light Source:
• LED Lamps
• Fluorescent Lamps
• Compact Fluorescent Lamps
• High Intensity Discharge Lamps
• Others

Breakup by Application:
• Commercial
• Residential
• Public Infrastructure
• Others

Key highlights of the report:
• Market Performance (2015-2020)
• Market Outlook (2021-2026)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

Note: We are in the process of updating our reports. If you want to receive the latest research data covering the time period from 2023 to 2028, along with industry trends, market size, and competitive analysis, click on the request sample report. The team would be able to deliver the latest version of the report in a quick turnaround time.

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