Smart Lighting Market was valued at US$ 10.9 Bn. in 2021 and is expected to reach US$ 48.78 Bn. by 2029, at a CAGR of 20.6 % during a forecast period.
Smart Lighting Market Overview:
The Smart Lighting Market research report analyses and evaluates market’s position over the projected period.It is a thorough investigation that focuses on fundamental and secondary drivers, market share, leading segments, and geographical analysis. The study also looks at key players, large collaborations, mergers, and acquisitions, as well as trending innovation and corporate strategies.
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Smart Lighting Market Scope:
We investigated the Smart Lighting Market from every angle, using both primary and secondary research methods. This aided us in developing a grasp of current market dynamics, such as supply-demand imbalances, price trends, product preferences, consumer behaviors, and so on. The data is then assembled and evaluated using a variety of market estimation and data validation approaches. In addition, we have an in-house data forecasting model that predicts market growth until 2027.
The top authors, researchers, and analysts collated and summarised the evaluation of the impact of recommendations on market activity. The research contains data based on the market’s historical and present situations, as well as other components impacting the market’s development path. It includes the most recent and up-to-date information on the worldwide Smart Lighting market landscape. The analysis goes into information about demand, revenue forecasts, volume, share, growth, kinds, applications, and sales, among other things. The research examines a variety of crucial restrictions, including item pricing, manufacturing capacity, profit and loss figures, and distribution methods.
Smart Lighting Market Segmentation:
by Offering
• Hardware
• Software
• Services
by Installation Type
• New Installations
• Retrofit Installations
by Communication Channel
• Wired
• Wireless
The wireless connection segment had the biggest market share of % in 2021, according to the communication channel. In a smart lighting environment, consumers who need connections within a short distance significantly prefer wireless connectivity, making it the market category with the largest growth over the forecast period. With the help of wireless technologies like Wi-Fi, Bluetooth, SmartThings, Z-Wave, or ZigBee, lighting fixtures can be connected to smartphone apps. The home lighting market has adopted wireless technology aggressively to control the colour and tint of luminaires for aesthetic purposes in small spaces.
by End-User
• Indoor
• Outdoor
Due to the increasing popularity of smart lighting fixtures and bulbs that the user can control to create different lighting moods, the interior lighting category, measured by end user, held the greatest market share of % in 2021. As offices and warehouses need to be active around-the-clock and require steady electricity both during the day and at night, the requirement to manage lighting usage is another issue influencing demand for commercial and industrial space. By installing intelligent lighting with integrated sensors, you can make sure that lights are only used where they are actually needed, according to the movement of people that the sensors detect. Additionally, the light setting inside the building may automatically dim depending on the outside brightness.
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Smart Lighting Market Key Players:
• Philips Lighting
• Acuity Brands
• Osram
• Cree
• General Electric (GE + Current)
• Eaton
• Honeywell
• Legrand
• Hubbell Lighting
• Zumtobel Group
• Hafele Group
• Lutron Electronics
• Wipro Consumer Care and Lighting
• Streetlight.Vision
• Virtual Extension
• Syska LED
• Leviton Manufacturing
• Switchmate, Inc.
• Gooee
• Lifx
• Isotera
• Ketra
• Tao Light
• Nualight Limited
The analysis also focuses on the worldwide key industry players of the Smart Lighting Market, including information such as company biographies, product pictures and specifications, capacity, production, price, cost, revenue, and contact information. This research looks at the Smart Lighting Market Trend, volume, and value on a global, regional, and corporate level. This study shows the entire Smart Lighting Market Size from a worldwide perspective by analyzing historical data and prospects. The research covers leading Smart Lighting market companies and evaluates their market rankings. The players highlighted in this report are as follows:
Regional Analysis:
The study offers a comprehensive overview of the sector, including both qualitative and quantitative data. It gives an overview and prognosis of the worldwide Smart Lighting market by segment. It also offers market size and forecast projections for five key regions, including North America, Europe, Asia-Pacific, the Middle East & Africa, and South America, from 2021 to 2027. Each region’s Smart Lighting market is further subdivided by respective regions and segments. The research analyses and forecasts different countries, as well as existing trends and prospects in the region.
COVID-19 Impact Analysis on Smart Lighting Market:
We have studied and analyzed in detail, Global Smart Lighting Market Development Strategy post-COVID-19, by corporate strategy analysis, landscape, type, application, and leading countries, which encompasses and analyses the global Smart Lighting industry’s potential, providing statistical information about market dynamics, growth factors, major challenges, PORTAL analysis, and market entry strategy analysis, opportunities, and forecasts. The report’s main focus is to give firms in the sector a strategic analysis of the impact of COVID-19. Simultaneously, this research examined the markets of key nations and introduced the market potential of these countries.
Key Questions Answered in the Smart Lighting Market Report are:
- What are some of the most promising high-growth opportunities in the global Smart Lighting market by product type and End User and Region?
- Which Smart Lighting market segments will expand the fastest, and why?
- Which regions will develop quicker, and why?
- What are the primary elements influencing Smart Lighting market dynamics? What are the market drivers and challenges for the Smart Lighting market?
- What are the Smart Lighting market’s business risks and threats?
Key Offerings:
- A detailed Market Overview
- Market Share, Size & Forecast by Revenue | 2023−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by segments and sub-segments
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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