Albany, NY -- (SBWIRE) -- 09/28/2018 -- Smart lighting and control systems have extensive applications in the across numerous sectors due to their energy-efficiency along with the automated control. Currently, the demand for these technologies and systems is increasing owing to increasing knowledge about benefits in the energy consumption. The energy conservation is the topic of attraction as these technologies optimize its usage and control the users to the avoid wastage; these technologies are experiencing higher adoption from past few years. Technological innovations have also increased the efficiency to smart lights and increased their use in smart homes. One such example can be taken of Bluetooth Mesh that has been introduced in the IoT smart lighting. Innovations like these are expected to expand the global smart lighting and control market in the coming years.

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Thanks to these factors, the market is expected to rise with the impressive CAGR of 15.6% over the forecast period from 2016 to 2024 to reach the value of US$96.38 bn by the end of 2024 from US$26.26 bn in 2015.

What The Major Driving Factors That Have Grown The Demand For The Global Smart Lighting And Control Market?

Globally, the pressure of reducing the electricity consumption has grown the demand for smart lighting and control market. In addition, growing concerns related to greenhouse effects has increased the need for these solutions and control. The smart lighting is being deployed on large scale in commercial, industrial, and residential sectors. Moreover, increasing penetration of Internet of Things (IoT) and its integration with smart phones has further boosted the demand in the smart lighting and control market globally. Another major factor responsible for the growth of this market is growing government initiatives to the dependency on conventional resources that is likely to give drive the market's demand in the coming years.

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