Smart lighting Market Insights:
According to MRFR analysis, the global Smart lighting market is expected to register a CAGR of ~20.1% from 2022 to 2030 and hold a value of over USD 40 billion by 2030.
Smart lighting refers to the use of advanced technology, such as sensors, wireless communication, and intelligent control systems, to control lighting in a more efficient and convenient way. The smart lighting market includes a wide range of products, such as smart bulbs, smart switches, and smart lighting fixtures. The COVID-19 pandemic has had a mixed impact on the smart lighting market. On one hand, the increased focus on hygiene and health safety in buildings has driven demand for touchless control systems and smart lighting solutions that can be easily sanitized. On the other hand, the economic slowdown caused by the pandemic has led to a decrease in construction activity and a slowdown in the adoption of new smart building technologies.
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Key Players:
- Koninklijke Philips (Netherlands)
- Osram Gmbh (Germany)
- Lutron Electronics Co. Inc. (US)
- Legrand S.A. (France)
- Daintree Networks (US)
- Bridgelux (US)
- Echelon Corporation (US)
- Streetlight vision (France)
- Zumtobel (Austria)
- Honeywell (US)
- Acuity Brands Inc. (US)
- General Electric Company (US)
- Eaton Corporation (Ireland),
are the notable vendors in the Smart lighting market.
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Smart lighting Market Regional Analysis:
In North America, the market is driven by the increasing adoption of smart homes, which has led to the integration of smart lighting systems. Additionally, the region is witnessing a growing trend of smart cities, which is further fueling the demand for smart lighting systems.
In Europe, the market is primarily driven by the increasing adoption of energy-efficient lighting systems and the growing demand for smart lighting in commercial spaces. The region has also witnessed significant investments in smart city projects, which is driving the growth of the market.
The Asia-Pacific region is expected to witness significant growth in the smart lighting market owing to the increasing adoption of smart homes and the growing trend of urbanization. Additionally, government initiatives promoting the use of energy-efficient lighting systems are also contributing to the growth of the market in this region.
The rest of the world, which includes the Middle East and Africa and Latin America, is also witnessing significant growth in the smart lighting market. The growth in this region is driven by the increasing adoption of smart homes and the growing trend of smart city initiatives.
Smart lighting Market Segmentation:
The Global Smart lighting market has been segmented into Component, Product Type, Light Source and Communication Technology
Based on Component: Software and Service
Based on Product Type: Luminaries and Lighting Controls
Based on Light Source: LED, FL and HID
Based on Communication Technology: Wired and Wireless
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