Press release
Smart Lighting Industry Report 2025-2034: Market Dynamics, Trends, And Forecasts
Smart Lighting
How Big Is the Smart Lighting Market Size Expected to Be by 2034?
The scale of the smart lighting market has seen rapid expansion in the past few years. The value of the market is projected to rise from $18.09 billion in 2024 to around $21.23 billion in 2025, with a compound annual growth rate (CAGR) of 17.4%. Factors contributing to this growth during the historic period include the proliferation of voice assistant devices, robust economic growth in emerging markets, a low interest rate environment, enhanced internet penetration, and considerable investments.
The projections for the smart lighting market size suggest a spectacular growth trend in the coming years, with estimates reaching $45.9 billion by 2029. This growth, represented by a compound annual growth rate (CAGR) of 21.3%, can be attributed to several factors, including increased investment in energy-efficient infrastructure, progression towards smart cities, supportive governmental policies, and the surge in IoT. The expected trends during the predicted period include the manufacturing of Wi-Fi-compatible LED bulbs, the adoption of Li-Fi technology for high velocity wireless communication in workplaces, the investment in Human-Centric Lighting (HCL) for improved building efficiency and residents' safety, and the integration of IoT-managed lighting systems to improve user experience and safety. Companies are likely to adopt merger and acquisition strategies to broaden their product range and geographical reach. Besides, they may focus on launching new products to fulfill market requirements.
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What Are the Emerging Segments Within the Smart Lighting Market?
The smart lighting market covered in this report is segmented -
1) By Product: Smart Bulbs, Fixtures, Lighting Controls
2) By Light Source: LED, HID, Other Light Sources
3) By Communication Technology: Wired, Wireless
4) By Application: Commercial, Government, Residential, Other Applications
Subsegments:
1) By Smart Bulbs: LED Smart Bulbs, Smart Incandescent and CFL Bulbs, Wi-Fi-Enabled and Bluetooth-Enabled Smart Bulbs
2) By Fixtures: Smart Ceiling Lights, Smart Wall Sconces and Outdoor Lighting Fixtures, Smart Table and Floor Lamps
3) By Lighting Controls: Smart Switches and Dimmers, Smart Motion Sensors and Timers, Centralized Control Systems
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What Long-Term Drivers Are Shaping Smart Lighting Market Trends?
The smart lighting market's growth is fueled by government assistance in both developed and developing economies. The rise of the market in emerging regions is bolstered by greater disposable incomes, regulatory encouragement for energy-efficient lighting, and the integration of cutting-edge technologies. The application of a smart lighting system assures substantial cost savings and reduced energy usage. For example, the United States Department of Energy, a federal agency in the U.S., in its Congressional Budget Justification for FY 2025 published in March 2024, outlined a projected budget of roughly $18.06 billion for FY 2025, marking a 4.1% increase from FY 2023. The DOE frequently advocates for technologies that improve energy efficiency in various areas, including home and commercial lighting. As a result, supportive government strategies bolster the demand for smart lighting, thereby accelerating the smart lighting market's growth.
Who Are the Top Competitors in Key Smart Lighting Market Segments?
Major companies operating in the smart lighting market include Schneider Electric SA, Cisco Systems Inc., Honeywell Inc., Signify Holding, Eaton, Legrand S.A, Acuity Brands Inc., Wipro, Zumtobel Group AG, OSRAM GmbH, Philips Investment Co. Ltd, Cree company china, SSK Group, Halonix, Param LED Products, MLS Lighting, NVC International Holdings Limited, OPPLE Lighting, San'an Optoelectronics Co., Ltd, Meka Electric Corporation, YEELIGHT, Odeer Lighting, Longhorn Intelligent Tech Co., LTD, Contrac Lighting, PULSAR, Apollo Lighting Ltd, LED Light Vision, FLUX LIGHTING, Eleti Lighting Germany, ELEKTRA GMBH, NEONICA POLSKA, ART META, Altavola Design, Lumines Lighting, TREVOS, Varton, GE Lighting, LSI Industries Inc., Energy Focus, Inc., Lumileds, Deco Lighting, Light Tool Industries E Comercio Ltd., Studio dois emme iluminação, Veta Energia, Idoler Iluminacion, Ledolas, Lutron, Hafele
What Smart Lighting Market Trends Are Gaining Traction Across Different Segments?
The trend towards utilizing Li-fi (Light Fidelity) networks represents the current wave in the smart lighting market. Li-Fi, a technology that uses light-emitting diodes for data transmission, operates wirelessly through optical networking. The Li-fi lamps contain a minute chip which can modulate the light intended for data transport. Typically, traditional LED light bulbs found in most households are utilized for data transfer, enabling speeds of up to 224 gigabits per second. To keep up with this trend, PureLiFi introduced Light Antenna ONE, a LiFi module, in February 2023. Designed for mass integration into numerous devices, it is the first wireless communication antenna of its kind that allows LiFi to link devices on a large scale. Despite being smaller than a dime, the device is ready to facilitate LiFi on connected devices.
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Which Regions Are Becoming Hubs for Smart Lighting Market Innovation?
North America was the largest region in the smart lighting market in 2024. Western Europe was the second-largest region in the global smart lighting market share. The regions covered in the smart lighting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Smart Lighting Market?
2. What is the CAGR expected in the Smart Lighting Market?
3. What Are the Key Innovations Transforming the Smart Lighting Industry?
4. Which Region Is Leading the Smart Lighting Market?
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