Global Smart Lighting and Control Systems Market was valued US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2026, at a CAGR of around XX % during a forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
Increasing penetration of Internet of Things (IoT) and government’s policy framework for smart lighting technologies in order to decrease energy consumption are some major factors anticipated to drive growth of Global Smart Lighting and Control Systems Market over the forecast period. Furthermore, need for energy optimized infrastructure comprising sensing movement and automatic lights adjusts, increasing demand for intelligent solutions for street lighting systems, rising adoption of energy-efficient and advanced lighting technologies including laser light and light-emitting diode (LED) across the globe are some other factors expected to further boost growth of the market. Technological advancement in wireless technology with Bluetooth, Wi-Fi, and Zigbee and IoT-based smart sensors adoption for smart city is also playing its part in boosting the growth of market over the forecast period. In addition to that, increasing consciousness about energy saving among individuals is among the other important factor projected to boost growth of market over the forecast period.
By end-use application, smart lighting and control systems are expected to find huge application in outdoor and residential lighting. These segments are expected to exhibit a strong growth rate over the years. Gradually rising demand for smart lighting in street lights and home automation is anticipated to aid the expansion of these segments.
Globally, North America is anticipated to hold maximum market share in terms of revenue, on account of high adoption of smart lighting solutions and preference shifted towards energy saving methods. The market in Asia Pacific is expected to register second highest growth rate in terms of CAGR over the forecast period because of industrialization, favorable government policies for adopting efficient energy sources and ongoing smart infrastructure projects comprising airports, shopping malls, and hospitality infrastructure in this region.
This report delivers an analysis of global smart lighting and control systems market for the period from 2018 to 2026, wherein the period from 2019 to 2026 comprises the forecast period and 2018 is the base year. Data for 2017 is provided as historical information. The report shelters all the prominent trends and technologies playing a major role in the growth of smart lighting and control systems market over the forecast period. It also highlights several drivers, restraints, and opportunities likely to impact the market’s growth throughout this period. The study offers a holistic perspective of the growth of smart lighting and control systems market during the forecast period in terms of revenue estimates (in US$ Bn). The report also offers an analysis of global smart lighting and control systems market in terms of market estimates and forecasts for all the segments across different geographic regions.
The objective of the report is to present a comprehensive assessment of the market and it contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding global smart lighting and control systems market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders in prioritizing the efforts and investment in the near future to the emerging segment in global smart lighting and control systems market.
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Scope of Global Smart Lighting and Control Systems Market
Global 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
Global Smart Lighting and Control Systems Market, By End-use Application
• Outdoor Lighting Applications
Global Smart Lighting and Control Systems Market, By Control System
• Smartphone Enabled
• Daylight Sensing Technology
• Proximity Sensing Technology
Global Smart Lighting and Control Systems Market, By Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key Players Operating in Global Smart Lighting and Control Systems Market
• 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.
• Acuity Brands Lighting, Inc.
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