Study papers on Smart Lighting market and regional forecast. Smart Lighting market players are Philips Lighting (Netherlands), Hafele Group (Germany), Acuity Brands (US), OSRAM (Germany), Cree (US), Hubbell Lighting (US), Zumtobel Group (Austria), Honeywell (US), Legr and (France), Eaton (Ireland), Lutron Electronics (US), and General Electric (US).
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Smart lighting market is estimated to grow from USD 7.93 billion in 2018to USD 20.98 billion by 2023, at a CAGR of 21.50% between 2018 and 2023. The major factors driving the growth of the smart lighting market include modernization and development of infrastructure to transform cities into smart cities, increased demand for intelligent solutions for street lighting systems, need for energy-efficient lighting systems, increasing adoption and decreasing cost of LEDs, and growing awareness about energy savings among consumers and governments worldwide.
However, factors such as perception of higher costs of installation and limited awareness about payback periods, and security and privacy issues in smart lighting systems are restraining the growth of the smart lighting market.
- Semiconductor and electronic component manufacturers and distributors
- Sensor manufacturers and distributors
- Raw material and manufacturing equipment suppliers
- Original equipment manufacturers (OEMs)
- Technology solution providers
- Technology standards organizations, forums, alliances, and associations
- Government bodies, venture capitalists, and private equity firms
- System integrators
- Technology investors
- Lighting and lighting control system manufacturers
- Lighting control system manufacturers
- Value-added resellers
- Research organizations
The growth of the market in APAC is attributed to the rapid infrastructure building activities being undertaken in APAC, mainly China, India, and Japan, where smart lighting paves the way for the modernization of infrastructure.
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Further, the increasing investments from the government sector also enhance the infrastructure facility in the country. Moreover, rising government expenditure on public infrastructure and increasing adoption of energy-efficient lighting systems are the major driving factors for the growth of the smart lighting market in APAC.
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Currently, the smart lightings based on wired technology are widely adopted for different types of structures as this technology offer reliable connectivity, with no limitation on long-distance data transfer. Wired communication technologies for smart lightings include Digital Addressable Lighting Interface (DALI), Power-Line Communication (PLC), Power over Ethernet (PoE), and various wired hybrid protocols which include various company-specific proprietary protocols.
Wired communication protocols are preferred in the applications where performance and reliability are crucial.
2 Ranking of Market Players, 2017
3 Competitive Scenario & Trends
3.1 Product Launches& Developments
3.2 Partnerships, Contracts, Agreements, & Collaborations
3.3 Mergers & Acquisitions
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- The smart lighting market based on offering covers hardware, software, and services.
- The smart lighting market based on communication technology has been segmented into wired and wireless technologies.
- The smart lighting market based on application type covers indoor and outdoor applications.
- The smart lighting market based on installation type includes new installations and retrofit installations.
- The geographic analysis has been conducted with regard to North America, Europe, APAC, and RoW.
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