In 2015, market for world smart lighting and control systems was worth around US$26.26 bn. Expanding at a double digit CAGR of 15.6%, the market is estimated to reach an estimated amount of around US$96.38 bn over the forecast period that stretches from 2016 to 2024.
Albany, NY -- (SBWIRE) -- 01/22/2018 -- Smart lighting and control systems are being extensively used in several sectors as they offer exceptional energy-efficient along with automated control. The demand for these technologies and systems are expected to soar in times when energy consumption and its hazardous impact on the environment have become a heated debate. While the smart lighting solutions allow energy optimization, the control system permits users to control the luminance levels of lighting in accordance to the ambiance, intensity of daylight, infrastructure, and others such as occupancy, and physical presence.
Global Smart Lighting and Control Systems Market: Overview
This report provides an analysis of the global smart lighting and control systems market for the period from 2014 to 2024, wherein the period from 2016 to 2024 comprises the forecast period and 2015 is the base year. Data for 2014 is provided as historical information. The report covers all the prominent trends and technologies playing a major role in the growth of the smart lighting and control systems market over the forecast period. It also highlights various drivers, restraints, and opportunities expected to influence the market's growth during this period. The study provides a holistic perspective of the growth of the smart lighting and control systems market throughout the forecast period in terms of revenue estimates (in US$ Bn), across Asia Pacific (APAC), South America, North America, Europe, and Middle East & Africa (MEA) regions. The report provides analysis of the global smart lighting and control systems market in terms of market estimates and forecasts for all the segments across different geographic regions.
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Global Smart Lighting and Control Systems Market: Drivers and Trends
Smart lighting and control systems enable high energy efficiency and improved lighting controls in lighting applications. The increasing adoption across residential and outdoor lighting applications such as street lighting, parking lots, walkways, and others such as playing fields is developing strong demand for smart lighting and control systems across the world. The growing deployment of smart lighting solutions in street lighting projects, and home automation projects are primarily driving the smart lighting and control systems market. The robust demand for wireless lighting controls is forming around the globe owning to the growing penetration of smartphones and internet of things technology (IoT). In addition, the governments across the world are emphasizing on greenhouse emission awareness, and energy conservation by promoting substantial initiatives and implementing sustainable solutions which is supplementing the growth of smart lighting and control systems market.
Businesses across these various sectors such as commercial, and industrial are focusing on implementation of smart lighting and control systems in order to reduce the operation and maintenance costs. Many vendors are integrating various technologies such as daylight sensing, proximity sensing, and smartphones with smart lighting to enhance the performance and competency of lighting systems. The penetration of IoT and other technologies such as cloud is rising in emerging economies such as South America, Asia Pacific, and Middle East & Africa is expected to offer opportunities for smart lighting and control systems market. In addition, increasing demand for implementation of smart lighting and control systems across outdoor lighting applications such as street lighting, walkways, parking lots, and others such as playing fields across the world is generating strong opportunities for smart lighting and control systems market.
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Global Smart Lighting and Control Systems Market: Segmentation
On the basis of lighting source, smart lighting and control systems market is segmented into fluorescent lamps and compact fluorescent lamps, high intensity discharge lamps, and light emitting diodes (LED). Based on end-use application, smart lighting and control systems market is segmented into residential, commercial, industrial, and outdoor lighting applications. By control system, smart lighting and control systems market is categorized into smartphone enabled technology, daylight sensing technology, proximity sensing technology, and others. The report also includes competitive profiling of the key players associated with the smart lighting and control systems market. The important business strategies adopted by them, their market positioning, and recent developments have also been identified in the research report.
Key Players Mentioned in this Report are:
The increasing adoption of advance and wireless lighting controls has led to the substantial presence of smart lighting and control system vendors around the globe. Some of the key players in smart lighting and control systems market are General Electric Company, Koninklijke Philips N.V., Belkin International, Inc., Eaton Corporation, Lightwave PLC, Elgato Systems, LiFI Labs, Inc., Honeywell International, Inc., Lutron Electronics Company, Inc., and Acuity Brands Lighting, Inc.
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Smart Lighting and Control Systems Market, by Lighting Source
Fluorescent Lamps and Compact Fluorescent Lamps
High Intensity Discharge Lamps (HID)
Light Emitting Diodes (LED) Lights and Lamps
Smart Lighting and Control Systems Market, by End-use Application
Outdoor Lighting Applications
Smart Lighting and Control Systems Market, by Control Systems
Daylight Sensing Technology
Proximity Sensing Technology
In addition, the report provides cross-sectional analysis of the smart lighting and control systems market with respect to the following geographical segments:
Rest of North America
Rest of Europe
Asia Pacific (APAC)
Rest of APAC
Middle East and Africa (MEA)
Unite Arab Emirates (UAE)
Rest of MEA
Rest of South America