The Smart Lighting Market is augmented by factors like use of LED lighting.
According to MarketIntelReports' “ Global Smart Lighting Market, Analysis and Forecast (2017-2023) (Focus on Fixtures, Controls And Applications in Commercial and Residential) ”:
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Smart light bulbs depend on a control system that can intelligently control light depending on parameters like temperature, occupancy, movement, and amount of natural light. Nowadays, lighting has a high energy cost in industries.
Government departments are becoming cautious by utilizing efficient lighting control systems instead of traditional lighting systems. The smart lighting system provides flexible and economic lighting.
It also monitors the tasks carried out by the users. The demand for the Smart Lighting Market is growing exponentially.
The concept of wireless networking has emerged and is now being adapted vigorously. The application for automated lighting system can be seen in sectors like government buildings, industries, and automobiles.
Scope & Regional Forecast of the Smart Lighting Market
The Smart Lighting Market is augmented by factors like use of LED lighting and increased focus on energy efficient building technologies. The rising concern of greenhouse emissions is sure to impact the lighting industry.
Bluetooth smart LED bulb provides customers ease of use, less complex, and energy efficient systems. Eradication of incandescent lamps , adoption of wireless technology, and development in the sensor and electronic sector will push the demand for wireless lighting solutions.
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Europe dominates the Smart Lighting Market in commercial buildings, outdoor lighting, and automobile application. North America follows Europe with more use of IOT lighting.
Asia Pacific is expected to be the fastest growing region. The main factors that drive the growth of controllable LED lights include favorable government policies, energy efficiency, high growth in lighting system, and sensor technology.
The restraints of the market are cost of technology, incompatible wireless communication solutions, lack of awareness among people. However, there are many opportunities to integrate smart lighting systems like parking LOT lights, traffic lights, and energy meters to form a smart city.
The development of smart cities will be a great trend in the Smart Lighting Market.
Segmentations & Key Players Involved in the Smart Lighting Market
The Smart Lighting Market can be broken down into various segments as follows:
- Application- Residential, Commercial, Industrial, Outdoor, and Automotive.
- Region- North America, Asia Pacific , Europe, and Rest of the World.
Some of the key players involved in the Smart Lighting Market are as follows:
- General Electric Company
- Honeywell International Inc.
- Philips Lighting
- Leviton Manufacturing Co. Inc
- Lutron Electronics Co
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