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Smart Lighting Market is Booming Across The Globe Explored In Latest Research 2028

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Swapnil GVR
Smart Lighting Market is Booming Across The Globe Explored In Latest Research 2028

The global smart lighting market size was valued at USD 10.85 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 20.4% from 2021 to 2028. The ability of lights to connect with IoT devices and create a variety of ambient lighting using just smartphones or tablets has increased its popularity and demand across commercial and residential spaces.

 The factors driving the market growth include the emergence of integrated lighting control systems, forthcoming smart city projects in emerging economies, increasing adoption and reducing price of LEDs, integration of lighting solutions with smart devices, and increasing awareness about energy consumption among customers and governments globally.

 Smart lighting is an advanced way to light your home. Smart LED bulbs contain software that connects to an app, smart home assistant, or other smart accessory so you can automate your lights or control them remotely, eliminating the need for traditional wall switches.

 Conventional light bulbs work by flipping a switch on and off. Sometimes they are hardwired into a dimmer switch, allowing you to dim or brighten the lights. However, this is generally the extent of the functionality of traditional home lighting. Smart lighting, on the other hand, gives you far more control over your lights. They are still connected to your home's power, but each smart bulb and LED-integrated fixture allows you to control it wirelessly with your phone, tablet, or smart assistant, such as Google Assistant or Amazon Alexa.

Key Player Mentioned:

  • Acuity Brands
  • Signify Holding
  • Honeywell International Inc.
  • Itron Inc (Streetlight Vision)
  • Ideal Industries, Inc.
  • Häfele GmbH & Co KG
  • Wipro Consumer Lighting
  • YEELIGHT

For Right Perspective & Competitive Insights, Request a Sample @:

https://www.grandviewresearch.com/industry-analysis/global-smart-lighting-market/request/rs1

The study needed to concentrate on Leading manufacturers environments, and analysis for its market that is Smart Lighting. The report centered on sections and the trends which influence or drive the development of the business Along with exploring regions. The researchers focused on development tendencies in addition to the sector. The players are Focusing on acquisitions and mergers approaches create earnings and to acquire a foothold on the industry. Additionally, the marketplace is anticipated to quicken alliances which are implemented across the globe as a result of exponential need for Smart Lighting over companies and businesses.

Product Segment Analysis:

  • Hardware
  • Software
  • Services

Application Segment Analysis:

 

  • Indoor
  • Outdoor

 Regional Segment Analysis: North America, Europe, Asia Pacific, Latin America, and Mideast and Africa.

The outdoor segment is expected to register the highest CAGR over the forecast period. The outdoor segment is further sub-segmented into highways & roadways, architecture, and others. The outdoor architectural application comprises lighting for patio, gardens, exterior walls, and outdoor premises of the residential or commercial space. The burgeoning demand for smart lighting in outdoor applications is fueled by the need to provide energy-efficient lights and monitor outdoor activity. This phenomenon is specifically adopted for smart street lighting. The government has invested in installing LED-based smart lighting connected with the camera and sensors to capture and share data on outdoor activity.

Access Press Release @ https://www.grandviewresearch.com/press-release/global-smart-lighting-market

This record provides a comprehensive Summary of a company profile of players and international Market's arena. Utilizing industry standard tools and analysts at the report, analysis quantify weaknesses and threats in businesses. The industry report covers all crucial parameters like product creation, market plan for businesses and market and development specialist perspectives, sales creation, the research and market share.

Good Reasons to Buy a Global Smart Lighting Market Report:

  • Offers detailed market breakdown and data triangulation that will help guide the market trends.
  • The methodology used in the report gives the absolute authentic data that helps advising whether the market has an opportunity in the upcoming years.
  • Provides a detail analysis about the Covid-19 impact on the market and how it will help boost the market in the near future.
  • Give’s a thorough analyst’s viewpoint which guides the client through market collaterals for the better opportunities in the market.
  • Pinpoints the most valued region and how the market can be expanded in the industry to generate more revenue with all the important government guidelines and environmental policies.

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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