Smart Lighting and Control Systems Market - Changing supply and demand scenarios 2024

Smart lighting and control is a technology designed to control lighting environment and reduce energy consumption. The smart lighting and control systems considers changes in occupancy, daylight time and temperature and make adjustments accordingly. In order to detect the changes, smart lighting and control systems comes equipped with various sensors, one of which is occupancy sensor which detects presence of personnel within area and turn on and off lights accordingly. The smart systems also includes time switches and dimming systems to further take advantage of daylight and help to reduce energy use and cost.

After the global the energy crisis, major application of smart lighting and control system is observed in the field of home automation. Factors such as rising demand for green buildings, growing awareness for energy conservation and government support in terms of energy efficient constructions are expected to drive the smart lighting and control market. Moreover, this growth is backed by innovation in wireless technology, development of advanced sensor, Internet of things (IoT) and remote access and control by software. However, factor such as lack of standard, inter-operability issues, unwillingness of consumers to switch from existing lighting systems are expected to act as major challenges for the smart lighting and control system market.

The industry is segmented by component, lamp type and application. On the basis of component market is segmented as chipsets, controllers, sensors, intelligent applications and others. Further, the application segment includes commercial, residential, industrial and outdoor sector. On the basis of types of lamp, the market is classified by fluorescent lamps, LED lamps, high intensity discharge lamps and wireless lamps. The smart lighting and control market is expected to play a vital role in solving the urban problem of lighting without demanding high budget, in coming years.

The North America region is expected to be the major market for smart lighting & control followed by the European region. The growth is North America is expected to be driven by countries such as the U.S. and Canada which have witnessed major developments in the field of smart lighting & control over the past few years and are hub of large as well as start-ups vendors in the region, catering to domestic & global clients. Furthermore, the Asia Pacific countries such as China, Japan and India are expected to grow at a significant rate. Upcoming investments for developing smart cities in the region is expected to substantially generate demand for smart lighting & control and the same is expected to further boost market growth specifically in the region.

Major players in the smart lighting and control market includes Acuity Brands Lighting, Inc., ams AG, Bridgelux, Inc., Cree, Inc., Daintree Networks, Inc., Digital Lumens, Inc., Nanoleaf, Echelon Corporation, General Electric Company, LG Electronics Inc., Lutron Electronics, Inc., Helvar, Hubbell Lighting Inc., Koninklijke Philips N.V., Osram Licht AG, Schneider Electric SA, SELC Ireland Ltd., Streetlight Vision, Tvilight B.V, and Zumtobel Group AG, among others

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