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Smart Lighting Market by Product Type, Light Source, Communication Technology, Software & Service, Application, and Geography - Global Forecast to 2022

Smart Lighting Market: Global Forecast until 2022

  • September 2016
  • 172 pages
  • ID: 4198692
In this report:
The smart lighting market, in terms of volume, is expected to register a shipment of ##,##.## million units by 2022 from ##.## million units in 2015, at a CAGR of ##.##% during the forecast period.
The market for the wireless technology is expected to register a shipment of ##.## million units by 2022, at the highest CAGR of ##.##% during the forecast period.

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"Smart lighting market forecasted to grow at an important rate between 2016 and 2022"

The overall smart lighting market is anticipated to be valued at ~$19.5B by 2022 and is anticipated to witness a shipment of 1.27 billion units by 2022, at a compound annual growth rate of 27.10 percent and 71.30 percent, respectively, between 2016 and 2022. The growing consumer demand for energy-efficient lighting systems, growing demand for intelligent solutions for street lighting systems and the development in IoT technology in the field of smart lighting are forecast to steer the increase of this market. Lack of awareness regarding installation costs and payback periods, and security and privacy issues regarding network connectivity are inhibiting the increase of the smart lighting market.

"LED light source to be the leading segment of the smart lighting market and is anticipated to grow at the maximal rate during the estimate period"

The high rise of LED light source can be accredited to the fact that it affords a wide range of advantages over conventional light sources, including low maintenance cost, longer endurance, low power consumption, and also the gradual decrease in price of LED components.

"Europe (EU) forecasted to hold the biggest market share during the outlook period"

The industry in EU is anticipated to grow at a moderate rate in the global market until 2022. The combination of multiple factors makes Europe the most dynamic area in the smart lighting market. The reason for Europe (EU) to be the leading market is because it is home to some of the top actors in the smart lighting market including Schneider Electric (SU), OSRAM Licht AG, Legrand SA, among others. Besides these, EU has a very high standard of living among its population, and there is an growing increase of smart homes. The European Union also has legislations for energy efficiency and smart lighting.

In the process of finding out and checking the market value for various segments and sub segments of the smart lighting collected by the secondary research, extensive primary audit sessions have been managed with main people. The breakup of the profiles of primary members taking part is shown below:

- By Company Type: Tier 1 - 20.0 percent, Tier 2 - 45.0 percent, and 1/3 3 - 35.0 percent

- By Designation: C-Level Executives- 35.0 percent, Directors- 25.0 percent, and Others - 40.0 percent

- By area: North america (NA) - 30.0 percent, Europe - 45.0 percent, APAC - 20.0 percent, and rest of the world - 5.0 percent

The geographic segmentation in the industry report includes the four main regions of the world, that is, North America continent, Europe (EU), Asia-Pac, and RoW. The report also profiles main actors in the Smart Lighting market. Some of the main players in this industry are as Philips Lighting, Acuity Brands Lighting, Incorporated, General Electric Company, OSRAM Licht AG, Honeywell International, Cooper Markets, Incorporated, Digital Lumens, Incorporated, Legrand S.A., Lutron Electronics Company, Incorporated, StreetLight. Vision, Schneider Electric SE, and Cree, Incorporated, among others.

The product type segment in the study contains the market value for smart bulbs, fixtures, and different lighting control components of a smart lighting system. The lighting source segment includes the distinct types of lighting sources used for a smart lighting system, these include fluorescent type, LED category, high intensity discharge lamp types, containing the ones retrofitted on previous generation lighting systems. The communication technology segment contains the various types of wired and wireless communication technology protocols used in the smart lighting market. The application segment includes the distinct verticals and consumers within the lighting for indoors and outdoors of the smart lighting market.

Why Purchasing This Study Can Help You:

This industry report caters to the needs of leading firms, sectors, component manufacturers, and other related stakeholders in this sector. Other parties that could benefit from the analysis contain government bodies, environmental agencies, consulting firms, business development executives, C-suite executives, and VPs. Our industry report would help analyze new opportunities and potential revenue sources and enhance the decision-making process for new business strategies. The quantitative and qualitative information in the market research, together with our comprehensive review, would benefit a actor to benefit a competitive edge in the sector.

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