Persistence Market Research is released upcoming report on title "Smart Lighting Market: Global Industry analysis and Forecast to 2020".
New York, NY -- (SBWIRE) -- 05/08/2015 -- Energy loss through lighting has become a concern for several governments. Smart lighting is an innovative lighting technology with improved energy efficiency. Smart lighting technology may include efficiency fixtures and automated controls that make adjustments based on conditions such as occupancy or availability of daylight. Everyday lighting accounts for 20% to 50% of the total electrical energy consumed globally. To reduce the total energy consumption, it is essential to use limited electric energy that pertains to certain condition and requirement. To meet the need of the hour, market players have come up with innovative lighting systems. Smart lighting is a technology, which uses intelligent light control system. Factors such as object movement, occupancy, color, temperature, and availability of natural light help the smart lighting technology to perform the most. Smart lighting technology utilizes lighting control systems, which deliver only the required amount of light. Additionally, smart lighting technology evolves the technology which automatically performs various functions at set time and given condition. Smart lighting technology provides highly flexible lighting at very low energy consumption and cost.
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Based on performance and energy consumption, the global smart lighting market can be bifurcated into light emitting diode (LED) lamp, high intensity discharge (HID), lamps, compact fluorescent lamps (CFL), fluorescent lamps, and others. CFL leads the global market for smart lighting technology. However, LED lamps are expected to witness the highest growth in the forecast period. Commercial and residential buildings are the major end users of the smart lighting technology. Other major end users of the technology include public and government buildings and street lighting.
Europe holds the largest market share for smart lighting technology, followed by North America and Asia Pacific. The U.S. is the largest consumer of smart lighting technology due to increasing consumer awareness regarding the importance of saving energy. Europe is expected to maintain its dominance in the forecast period. North America is expected to witness marginal growth during the forecast period. However, Asia Pacific is expected to witness the highest growth in the forecast period owing to increasing infrastructure development in the developing countries such as India and China.
Consumer awareness regarding the importance of saving energy is driving demand for smart lighting technology globally. Globally, around 40% of the total energy cost of the commercial and residential building is the cost associated with lighting. Additionally, investment for improvement of infrastructure is expected to encourage the development of roads, smart cities, and commercial buildings, which in turn is expected to boost demand for smart lighting technology.For infrastructure development, the U.K. government's public sector investment is expected to increase by USD 4.9 billion to reach around USD 77.7 billion in 2013 – 14 over 2012 – 13. It is further expected to reach around USD 83.0 billion in 2014 – 15. Also, increased disposable income has influenced consumers to spend more on energy-saving equipment, driving demand for smart lighting technology. However, high cost associated with the replacement of old appliances is expected to restrain growth of the global smart lighting technology market, but at a very niche level.
Increasing demand and willingness to invest more in energy saving equipment among major end users are driving light manufacturing companies to come up with innovative lighting technologies, especially in developing regions. Some of the major companies operating in the global smart lighting technology market are Zumtobel AG, Lutron Electronics Company, Inc., Digital Lumens, Inc., Encelium Technologies, Inc., Legrand S.A, Acuity Brands, Inc., Honeywell International, Royal Philips Electronics N.V., and OsramLicht AG.
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Key points covered in the report:
1) Report segments the market on the basis of types, application, products, technology, etc (as applicable)
2) The report covers geographic segmentation
3) The report provides the market size and forecast for the different segments and geographies for the period of 2010 to 2020
4) The report provides company profiles of some of the leading companies operating in the market
The report also provides porters five forces analysis of the market.
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