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Global Smart Lighting Market: Top Trends Influencing Growth

Blog Description

Smart lightings are offered by combining various luminaires with intelligent lighting control technologies. By incorporating different sensors such as occupancy sensors, natural light sensors, and motion sensors, smart lighting systems can considerably reduce energy consumption in homes and in commercial spaces. Sensors in smart lighting systems enable automatic adjustment of brightness depending on the availability of natural light and also enable automatically turning the lights off in unoccupied rooms.

Browse the full Report of Global Smart Lighting Market

Transparency Market Research, in a research report, states that the global smart lighting market is anticipated to expand at a strong CAGR of 15.90% from 2014 to 2020, growing from a value of US$21 bn in 2013 to US$56.6 bn by 2020.

The key players operating in the global smart lighting market include Digital Lumens, Inc., Zumtobel Group AG, Streetlight.Vision, Encelium Technologies, Inc., Honeywell International Inc., Royal Phillips N. V., Lutron Electronics, Company, Inc., Acuity Brands, Inc., Osram Licht AG, and Legrand SA.

Browse the full Press Release of Global Smart Lighting Market

Listed below are some of the major trends within the global smart lighting market.

  • Growing demand for automated and energy-efficient lighting systems is the leading factor driving the smart lighting market.
  • Awareness among building owners regarding smart lighting systems has risen in recent years, mainly to reduce energy consumption and monitor lighting systems. This fuels the demand for smart lighting in the residential sector.
  • The need to cut energy consumption costs also boosts the demand for smart lighting systems.
  • The development of control technologies and smart sensors in the field of smart lightings has gone up over the years, which in turn fuels the global market.
  • A major trend that has supported the smart lighting market is the replacement of traditional lightings with LED lamps.
  • The rising demand for intelligent solutions for street lighting systems is also a key growth driver.
  • The adoption of smart lighting for smart cities is an evolving trend seen in several developing countries.
  • Europe is the largest market for smart lighting and the growing adoption of these systems is anticipated to enable this region to retain its lead through 2020.
  • Even though Asia Pacific and the Rest of the World region are presently niche markets for smart lighting, they hold immense potential for growth in the near future.
  • Controllable breakers are the most prominent components of smart lighting systems and this segment is anticipated to continue dominating the overall market.
  • The growing demand for better lighting experience and automated lighting systems is projected to boost the growth potential of sensors and dimmer actuators over the next five years.
  • Even though compact fluorescent lamps dominate the market based on lighting type, LED lamps are forecast to show significant increase in demand by 2020.
  • By revenue, the industrial and commercial sectors enjoy the largest share in the smart lighting market, with the residential application segment witnessing the highest growth by 2020.

While all these trends are likely to boost the market for smart lighting, high initial investment and incompatible