Smart Lighting Market

Smart Lighting Market Growth, Trends, Opportunities and Forecast to 2026

WILMINGTON, DELAWARE, UNITED STATES, May 8, 2024 /EINPresswire.com/ -- Integration of smart technologies such as IoT and AI in smart lighting has revolutionized the LED market. LED bulbs are integrated with IoT technology and offered by players as smart LED lamps. These smart lamps provide users the convenience to access features of smart LEDs using remotes. Further, innovation in LED bulbs raises the demand for LEDs in the smart lighting market. Furthermore, the demand for smart lighting is increasing due to investments in smart infrastructural developments in China, India, and North America. In addition, an increase in advanced activities in the construction industry in North America and Europe is expected to fuel the growth of the smart lighting market. Projects that the global smart lighting market size is estimated to reach $38.68 billion by 2026. In 2019, North America dominated the market, contributing more than a 33% share of the overall revenue, followed by Europe. Emerging advancements in smart lighting; rapid adoption of residential, commercial, and industrial automation; and rise in penetration of smart infrastructure fuel the global smart lighting market growth.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 & 𝐓𝐎𝐂: https://www.alliedmarketresearch.com/request-sample/1029

Smart lighting is designed to manage luminance remotely. It ensures energy efficiency and includes automated controls and highly efficient fixtures that can adjust depending on conditions, such as occupancy and external lighting. Lighting is an intentional use of light to add practical and aesthetic effects to a space. Furthermore, these systems include general, accent, and task lighting. Besides this, smart lighting systems ensure lower energy usage and high-cost savings.

Recent years have witnessed the fast adoption of Zigbee wireless technology in the IoT market. Most smart devices used for residential and commercial purposes are equipped with Zigbee technology. It offers consumers easy-to-use control over installed LED light bulbs, LED fixtures, switches, and remotes, which creates lucrative smart lighting market opportunities globally.

According to the smart lighting market, DALI has a major adoption in buildings as it provides manufacturers with reliable low-cost solutions. In addition, the benefits of reconfiguration, switching of individual lights as per the need of illumination, and other remote access features drive the demand for DALI systems in large space premises.

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮’𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/1029

𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

The Smart Lighting industry's key market players adopt various strategies such as product launch, product development, collaboration, partnership, and agreements to influence the market. It includes details about the key players in the market's strengths, product portfolio, market size and share analysis, operational results, and market positioning.

𝐒𝐨𝐦𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐦𝐚𝐣𝐨𝐫 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐒𝐦𝐚𝐫𝐭 𝐋𝐢𝐠𝐡𝐭𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞,

Koninklijke Philips N.V
General Electric
Honeywell International Inc
Dialight, Eaton
Cisco Systems, Inc
Cree, Inc
Syska
Acuity Brands, Inc
Deco Lighting, Inc

Among various regions, North America was the highest revenue generator in 2018 and maintain its dominance in the future. This is attributed to the rise in the adoption of automation, which creates lucrative opportunities for smart lighting market forecasts.

Asia-Pacific is projected to grow at the fastest rate throughout the smart lighting market analysis period, China in this region witnessed the highest demand for smart lighting in 2018, due to the wide adoption of autonomous infrastructure and stringent government regulations associated with sustainable development. Moreover, enhancement in industrial autonomy and increase in expenditure in emerging markets such as Latin America and the Middle East to meet the demand for exponentially growing economies in these countries have strengthened the smart lighting market.

The smart lighting market is segmented based on offering, connectivity technology, lighting technology, application, and industrial verticals. Based on the offering, it is bifurcated into hardware and software. By connectivity technology, it is categorized into Bluetooth, Zigbee, WiFi, and DALI. Based on lighting technology, it is classified into LED, halogen, incandescent, Fluorescent, and CFL. The applications covered in the study include indoor and outdoor lighting. By industrial vertical, it is divided into commercial, residential, industrial, automotive, and others. Region-wise, it is analyzed as North America, Europe, Asia Pacific, and LAMEA.

𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐛𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/1029

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐒𝐦𝐚𝐫𝐭 𝐋𝐢𝐠𝐡𝐭𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭:

- The DALI segment accounted for the highest smart lighting market in 2018, with $2,075.59 million, growing at a CAGR of 15.00%, from 2019 to 2026.
- The automotive industry generated the highest revenue, accounting for $1,398.08 million in 2018.
- Asia-Pacific is expected to dominate the smart lighting market share, garnering 23.70% of the total share during the forecast period.

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:

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David Correa
Allied Market Research
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