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Smart Lighting Market by Offering, Communication Technology, Installation Type, Application Type And Geography - Global Forecast to 2023

Smart Lighting Market: Global Forecast until 2023

  • February 2018
  • 171 pages
  • ID: 4198692
In this report:
The smart lighting market for lighting controls registered a shipment of ##.## million units in 2017 and is expected to reach ##,##.## million units by 2023, at a CAGR of ##.##% during the forecast period.
The market for sensors is expected to register a shipment of ##.## million units by 2023, at the highest CAGR of ##.##% during the forecast period.

Summary

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The smart lighting market is anticipated to grow at a CAGR (Compound annual growth rate) of ~21.5 percent between 2018 and 2023

The smart lighting market is forecasted to grow from ~$7.9B in 2018 to ~$21.0B by 2023, at a compound annual growth rate (CAGR) of ~21.5 percent between 2018 and 2023.

The main factors driving the rise of the smart lighting market contain modernization and development of infrastructure to transform cities into smart cities, rised demand for intelligent solutions for street lighting systems, need for energy-efficient lighting systems, expanding adoption and decreasing cost of LEDs, and increasing awareness about energy savings among consumers and governments global.

Nevertheless, Elements such as perception of higher costs of installation and limited awareness about payback periods, and security and privacy issues in smart lighting systems are selecting the increase of the smart lighting market

Wired technology is forecasted to hold a larger share of the smart lighting market by 2023

Presently, the smart lightings established on wired technology are widely adopted for distinct types of structures as this technology offer reliable connectivity, with no limitation on long-distance data transfer.

Wired communication technologies for smart lightings contain Digital Addressable Lighting Interface, Power-Line Communication, Power over Ethernet, and several wired hybrid protocols which include different company-specific proprietary protocols. Wired communication protocols are preferred in the applications where performance and reliability are crucial

The smart lighting market in Asia-Pacific forecasted to grow at the highest compound annual growth rate (CAGR) between 2018 and 2023

The increase of the market in Asia-Pac is assigned to the quick infrastructure building activities being undertaken in Asia-Pacific, primarily China, India (IN), and Japan (JP), where smart lighting paves the way for the modernization of infrastructure.

Futhermore, the rising investments from the government market also enhance the infrastructure facility in the area. Furthermore, growing government expenditure on public infrastructure and growing adoption of energy-efficient lighting systems are the main driving factors for the increase ot the smart lighting market in Asia-Pac.

In the process of finding out and checking the industry sizes for various segments obtained through secondary research, extensive primary audit sessions have been managed with the main industry people. The break-up of the profile of primary members taking part has been provided below.

• By Company category: Tier 1 = 20.0 percent, Tier 2 = 45.0 percent, and Tier 3 = 35.0 percent

• By Description: C-suite executives = 35.0 percent, Directors = 25.0 percent, Others=40%

• By Area: Americas = 45.0 percent, EU = 25.0 percent, Asia-Pacific = 20.0 percent, and RoW = 10.0 percent

The report profiles the top actors in the smart lighting market, along with providing their respective market ranking. Major players in the sector contain Philips Lighting, Hafele Group, Acuity Brands, OSRAM, Cree, Hubbell Lighting, Zumtobel Group, Honeywell, Legrand, Eaton, Lutron Electronics, and General Electric (NYSE:GE).

Segment Research

• The smart lighting market established on offering covers hardware, software, and services.

• The smart lighting market established on communication technology has been broken down into wired and wireless technologies.

• The smart lighting market established on application type includes indoor and outdoor applications.

• The smart lighting market established on installation type includes new installations and retrofit installations.

• The geographic review has been conducted with regard to North America, Europe (EU), Asia-Pac, and RoW.

Reasons to Buy This Report:

From an insight prospect, this market research has emphasized several levels of analysis-market ranking of key players; value chain study; company descriptions that provide the basic overviews on the competitive landscape; coming out and high-growth segments of the market; high-growth areas; and market dynamics including drivers, market restraints, alternatives, and opportunities.

This study furnishes highlights on the following points:

• Market development: Highlighted information about profitable emerging sectors and review of the smart lighting market across several areas

• industry diversification: Complete information about recent products, untapped geographic regions, and recent evolutions in the global smart lighting market

• opposing assessment: In-depth assessment of ranking, increase strategies, and products of the leading actors in the smart lighting market

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