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Global Smart Lighting Market Size, Share, Growth, Analysis, Industry Trends, Price, Report and Forecast 2024-2032

12-07-2023 06:47 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Expert Market Research

Global Smart Lighting Market Size, Share, Growth, Analysis,

Smart Lighting Market Outlook

According to the report by Expert Market Research (EMR), the global smart lighting market is projected to grow at a CAGR of 20% between 2024 and 2032. Aided by the accelerating adoption of energy-efficient lighting solutions and the integration of IoT in lighting systems, the market is expected to grow significantly by 2032.

Smart lighting refers to lighting systems embedded with technology that enables automatic control and programmability for energy efficiency and user convenience. These systems can adapt to ambient conditions and user preferences, offering functionalities such as remote operation, colour temperature adjustment, and motion detection. The primary drivers of this market include the growing emphasis on energy conservation, advancements in wireless communication technologies, and the rising trend of smart homes and cities.

Get a Free Sample Report with Table of Contents: https://www.expertmarketresearch.com/reports/smart-lighting-market/requestsample

As per the smart lighting market analysis, with global efforts to reduce carbon footprint and energy consumption, smart lighting solutions are increasingly favoured for their potential to conserve energy. These systems optimise lighting usage by adjusting the brightness based on natural light availability and occupancy, leading to significant energy savings.

The integration of IoT and AI in lighting systems has revolutionised the smart lighting industry. These technologies enable real-time monitoring, predictive maintenance, and enhanced user experience, thereby driving smart lighting market growth. Governments worldwide are investing in smart city projects that prominently feature smart lighting systems for public safety, energy efficiency, and urban aesthetics. This trend significantly contributes to the expansion of the market.

The modern consumer's inclination towards home automation for convenience and personalised experiences is a key factor fuelling the market growth. Smart lighting systems offer ease of use, customizability, and integration with other smart home devices, making them increasingly popular among tech-savvy consumers.

The potential integration of smart lighting with health and wellness applications opens new avenues for smart lighting market. For instance, lighting systems that can mimic natural light patterns to regulate human circadian rhythms are gaining interest for their health benefits.

Read Full Report with Table of Contents: https://www.expertmarketresearch.com/reports/smart-lighting-market

North America currently leads the market, attributed to its early adoption of smart technologies and robust infrastructure. The Asia-Pacific region is expected to witness the fastest growth due to rapid urbanisation, increasing smart city initiatives, and a growing middle-class population with rising disposable incomes, further propelling the smart lighting market demand.

Smart Lighting Market Segmentation                               

The market can be divided based on offering, communication technology, installation type, light source, application, and region.

Market Breakup by Offering

Hardware
Lights and Luminaires
Lighting Controls
Software
Services
Design and Engineering
Installation
Post-Installation

Market Breakup by Communication Technology

Wired Technology 
Wireless Technology

Market Breakup by Installation Type

New Installation  
Retrofit Installation

Market Breakup by Light Source

LED Lamps
Fluorescent Lamps
Compact Fluorescent Lamps
High Intensity Discharge Lamps
Others

Market Breakup by Application

Commercial
Residential
Public Infrastructure
Others

Market Breakup by Region

North America
Europe
Asia Pacific
Latin America
Middle East and Africa

Smart Lighting Market Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global smart lighting market. Some of the major players explored in the report by Expert Market Research are as follows:

Signify S.A.
Acuity Brands Lighting, Inc
Honeywell
Legrand S.A.
OSRAM GmbH
Cree Lighting
General Electric Company
Others

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Media Contact

Company Name: Claight Corporation
Contact Person: Ian Bell, Business Consultant
Email: sales@expertmarketresearch.com
Toll Free Number: US +1-415-325-5166 | UK +44-702-402-5790
Address: 30 N Gould St Sheridan, WY 82801, USA
Website: https://www.expertmarketresearch.com

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Acquire unparalleled access to critical industry insights with our comprehensive market research reports, meticulously prepared by a team of seasoned experts. These reports are designed to equip decision-makers with an in-depth understanding of prevailing market trends, competitive landscapes, and growth opportunities.

Our high-quality, data-driven analysis provides the essential framework for organisations seeking to make informed and strategic decisions in an increasingly complex and rapidly evolving business environment. By investing in our market research reports, you can ensure your organisation remains agile, proactive, and poised for success in today's competitive market.

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