Smart Lighting Market by Lights and Luminaire, Lighting Controls, LED Drivers and Ballasts, Sensors, Switches, Gateways, Dimmers, Relay Units, DALI, Power over Ethernet (PoE), Power Line Communications (PLC) and Zigbee - Global Forecast to 2030
The global smart lighting market was valued at USD 9.86 billion in 2025 and is projected to reach USD 17.38 billion by 2030; it is expected to register a CAGR of 12.0% during the forecast period.
The increasing adoption of LED lighting and luminaires in outdoor applications, growing penetration of data analytics in smart lighting, emerging smart offices and smart retail trends, rising adoption of human-centric lighting, and development of solar-powered and hybrid smart lighting solutions are the major drivers contributing to the market growth.
“The outdoor application segment is expected to grow at the highest CAGR during the forecast period”
Outdoor application is expected to witness the highest CAGR in the smart lighting market due to increased investments in urban safety initiatives, smart city infrastructure, and mass-level public lighting deployments that are energy-efficient. Governments and local city authorities across the world are retrofitting conventional streetlights with adaptive smart lighting, offering features like remote monitoring, dimmable control, and motion sensing to optimize power utilization. Further, growing concern about enhancing outdoor safety in residential and commercial sectors is driving the demand for smart lighting systems accompanied by surveillance and IoT-based monitoring systems.
“Offline distribution channel segment likely to lead the smart lighting market during the forecast period”
The offline distribution channel is expected to lead the market during the forecast period. Smart lighting consumers continue to use physical channels as their preferred choice for purchase as these channels enable personal interactions while providing firsthand product examinations. The majority of customers prefer to buy smart lighting products through retail outlets or dealerships because they want a firsthand demonstration of products that come with expert advice on quality and selection. Complex smart lighting solutions need specialized installation support which makes offline distribution channels fundamental for customer satisfaction. Moreover, professional customers, like contractors and architects, tend to depend on offline wholesalers and distributors when making bulk orders, tailor-made solutions, and after-sales service.
“India is likely to grow at the highest CAGR during the forecast period”
India is expected to have the highest CAGR in the Asia Pacific smart lighting market owing to fast urbanization, government policies supporting energy efficiency, and smart city projects on a large scale. The government of India has launched several schemes and initiatives to promote energy-efficient lighting; for instance, the Indian government's Street Lighting National Programme (SLNP) has already seen millions of LED streetlights installed, providing a solid base for increased adoption of smart lighting. The increasing IoT and automation penetration in industrial and commercial sectors drive the need for intelligent connected lighting systems that incorporate sensors and artificial intelligence-based control mechanisms. Moreover, the rapid adoption of smart lighting in residential properties continues as LED prices decrease and residents realize the benefits of energy-efficient lighting.
Breakdown of primaries
The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:
Research Coverage:
The report segments the smart lighting market and forecasts its size by offering, installation type, end-use application, distribution channel, communication technology, and region. The report also discusses the drivers, restraints, opportunities, and challenges pertaining to the market. It gives a detailed view of the market across four main regions—Americas, Europe, Asia Pacific, and RoW. Value chain analysis has been included in the report, along with the key players and their competitive analysis in the smart lighting ecosystem.
Key Benefits to Buy the Report:
The increasing adoption of LED lighting and luminaires in outdoor applications, growing penetration of data analytics in smart lighting, emerging smart offices and smart retail trends, rising adoption of human-centric lighting, and development of solar-powered and hybrid smart lighting solutions are the major drivers contributing to the market growth.
“The outdoor application segment is expected to grow at the highest CAGR during the forecast period”
Outdoor application is expected to witness the highest CAGR in the smart lighting market due to increased investments in urban safety initiatives, smart city infrastructure, and mass-level public lighting deployments that are energy-efficient. Governments and local city authorities across the world are retrofitting conventional streetlights with adaptive smart lighting, offering features like remote monitoring, dimmable control, and motion sensing to optimize power utilization. Further, growing concern about enhancing outdoor safety in residential and commercial sectors is driving the demand for smart lighting systems accompanied by surveillance and IoT-based monitoring systems.
“Offline distribution channel segment likely to lead the smart lighting market during the forecast period”
The offline distribution channel is expected to lead the market during the forecast period. Smart lighting consumers continue to use physical channels as their preferred choice for purchase as these channels enable personal interactions while providing firsthand product examinations. The majority of customers prefer to buy smart lighting products through retail outlets or dealerships because they want a firsthand demonstration of products that come with expert advice on quality and selection. Complex smart lighting solutions need specialized installation support which makes offline distribution channels fundamental for customer satisfaction. Moreover, professional customers, like contractors and architects, tend to depend on offline wholesalers and distributors when making bulk orders, tailor-made solutions, and after-sales service.
“India is likely to grow at the highest CAGR during the forecast period”
India is expected to have the highest CAGR in the Asia Pacific smart lighting market owing to fast urbanization, government policies supporting energy efficiency, and smart city projects on a large scale. The government of India has launched several schemes and initiatives to promote energy-efficient lighting; for instance, the Indian government's Street Lighting National Programme (SLNP) has already seen millions of LED streetlights installed, providing a solid base for increased adoption of smart lighting. The increasing IoT and automation penetration in industrial and commercial sectors drive the need for intelligent connected lighting systems that incorporate sensors and artificial intelligence-based control mechanisms. Moreover, the rapid adoption of smart lighting in residential properties continues as LED prices decrease and residents realize the benefits of energy-efficient lighting.
Breakdown of primaries
The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:
- By Company Type - Tier 1 – 55%, Tier 2 – 25%, Tier 3 – 20%
- By Designation— Directors - 50%, Managers – 30%, Others - 20%
- By Region—North America - 40%, Europe - 35%, Asia Pacific - 20%, RoW - 05%
Research Coverage:
The report segments the smart lighting market and forecasts its size by offering, installation type, end-use application, distribution channel, communication technology, and region. The report also discusses the drivers, restraints, opportunities, and challenges pertaining to the market. It gives a detailed view of the market across four main regions—Americas, Europe, Asia Pacific, and RoW. Value chain analysis has been included in the report, along with the key players and their competitive analysis in the smart lighting ecosystem.
Key Benefits to Buy the Report:
- Analysis of key drivers (rising adoption of LED lighting and luminaire in outdoor applications, increasing penetration of data analytics in smart lighting, rising smart city initiatives across the globe, advances in AI and Edge computing, establishment of standard and digital protocols by authorized bodies, growing demand for IoT-integrated smart lighting), Restraint (cybersecurity concerns associated with internet-connected lighting systems, difficulties associated with retrofitting traditional lighting systems), Opportunity (development of solar-powered and hybrid smart lighting solutions, emerging smart office and smart retail trends, growing adoption of human-centric lighting, growing adoption of PoE-based lighting solutions in commercial and healthcare applications, increasing demand for personalized lighting control solutions), Challenges (high upfront cost of equipment and accessories, interoperability and compatibility issues)
- Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and new product launches in the smart lighting market
- Market Development: Comprehensive information about lucrative markets – the report analyses the smart lighting market across varied regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the smart lighting market
- Competitive Assessment: In-depth assessment of market shares, growth strategies, and offerings of leading players like Signify Holding (Netherlands), Acuity Brands, Inc. (US), Panasonic Holdings Corporation (Japan), Legrand (France), Zumtobel Group (Austria), ams-OSRAM AG (Austria), LEDVANCE GmbH (Germany, and Honeywell International (US) among others in the smart lighting market
1 INTRODUCTION
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.3 STUDY SCOPE
1.3.1 MARKETS COVERED
1.3.2 INCLUSIONS & EXCLUSIONS
1.3.3 YEARS CONSIDERED
1.3.4 CURRENCY CONSIDERED
1.3.5 UNIT CONSIDERED
1.4 LIMITATIONS
1.5 STAKEHOLDERS
1.6 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
2.1.1 SECONDARY DATA
2.1.1.1 Key data from secondary sources
2.1.1.2 Key secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Key data from primary sources
2.1.2.2 Key participants in primary interviews
2.1.2.3 Breakdown of primary interviews
2.1.2.4 Insights of industry experts
2.1.3 SECONDARY AND PRIMARY RESEARCH
2.2 MARKET SIZE ESTIMATION
2.2.1 BOTTOM-UP APPROACH
2.2.1.1 Approach to derive market size using bottom-up analysis
2.2.2 TOP-DOWN APPROACH
2.2.2.1 Approach to derive market size using top-down analysis
2.3 MARKET SHARE ESTIMATION
2.4 DATA TRIANGULATION
2.5 RISK ASSESSMENT
2.6 RESEARCH ASSUMPTIONS AND LIMITATIONS
2.6.1 RESEARCH ASSUMPTIONS
2.6.2 RESEARCH LIMITATIONS
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN SMART LIGHTING MARKET
4.2 SMART LIGHTING MARKET, BY INSTALLATION TYPE
4.3 SMART LIGHTING MARKET, BY END-USE APPLICATION
4.4 SMART LIGHTING MARKET, BY OFFERING
4.5 SMART LIGHTING MARKET, BY COMMUNICATION TECHNOLOGY
4.6 SMART LIGHTING MARKET, BY DISTRIBUTION CHANNEL
4.7 SMART LIGHTING MARKET, BY REGION
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
5.2.1 DRIVERS
5.2.1.1 Rising smart city initiatives globally
5.2.1.2 Advancements in Artificial Intelligence (AI) and edge computing technologies
5.2.1.3 Establishment of standard and digital protocols by authorized bodies
5.2.1.4 Growing demand for Internet of Things (IoT)-integrated smart lighting solutions
5.2.1.5 Rising adoption of LED lights and luminaires in outdoor applications
5.2.1.6 Increasing incorporation of data analytics into smart lighting
5.2.2 RESTRAINTS
5.2.2.1 Cybersecurity concerns associated with internet-connected lighting systems
5.2.2.2 Difficulties associated with retrofitting of traditional lighting infrastructure
5.2.3 OPPORTUNITIES
5.2.3.1 Development of solar-powered and hybrid smart lighting solutions
5.2.3.2 Emerging smart office and smart retail trends
5.2.3.3 Rising adoption of human-centric lighting solutions
5.2.3.4 Growing adoption of Power over Ethernet (PoE)-based lighting solutions in commercial and healthcare applications
5.2.3.5 Increasing demand for personalized lighting control solutions
5.2.4 CHALLENGES
5.2.4.1 High upfront costs of equipment and accessories
5.2.4.2 Interoperability and compatibility issues
5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS
5.4 PRICING ANALYSIS
5.4.1 AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY OFFERING, 2024
5.4.2 AVERAGE SELLING PRICE TREND, BY REGION, 2020–2024
5.5 VALUE CHAIN ANALYSIS
5.6 ECOSYSTEM ANALYSIS
5.7 INVESTMENT AND FUNDING SCENARIO
5.8 TECHNOLOGY ANALYSIS
5.8.1 KEY TECHNOLOGIES
5.8.1.1 Internet of Things (IoT)
5.8.1.2 Communication protocols
5.8.1.3 Smart sensors
5.8.2 COMPLEMENTARY TECHNOLOGIES
5.8.2.1 Artificial Intelligence (AI) and Machine Learning (ML)
5.8.2.2 Light fidelity (Li-Fi)
5.8.2.3 Geofencing technology
5.8.3 ADJACENT TECHNOLOGIES
5.8.3.1 Building management system (BMS)
5.8.3.2 5G infrastructure
5.9 PATENT ANALYSIS
5.10 TRADE ANALYSIS
5.10.1 IMPORT SCENARIO (HS CODE 9405)
5.10.2 EXPORT SCENARIO (HS CODE 9405)
5.11 KEY CONFERENCES AND EVENTS, 2025–2026
5.12 CASE STUDY ANALYSIS
5.12.1 ULINE USES CREE LIGHTING LUMINAIRES INTEGRATED WITH SYNAPSE SIMPLYSNAP CONTROLS TO HELP ACHIEVE OPERATIONAL EXCELLENCE
AND RELIABILITY
5.12.2 GERMAN MUNICIPALITY IMPLEMENTS SIGNIFY HOLDING’S BRIGHTSITES SOLUTION TO ADVANCE SMART CITY GOALS
5.12.3 HONEYWELL INTERNATIONAL INC. ESTABLISHES NEW AIRFIELD GROUND LIGHT MANUFACTURING FACILITY IN INDIA
5.13 TARIFF AND REGULATORY LANDSCAPE
5.13.1 TARIFF ANALYSIS
5.13.2 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
5.13.3 REGULATIONS
5.13.3.1 Restriction of Hazardous Substances (ROHS) and Waste Electrical and Electronic Equipment (WEEE)
5.13.3.2 Registration, Evaluation, Authorisation and Restriction of Chemicals (REACH)
5.13.3.3 United Nations Framework Convention on Climate Change (UNFCCC)
5.13.3.4 General Data Protection Regulation (GDPR)
5.14 PORTER’S FIVE FORCES ANALYSIS
5.14.1 INTENSITY OF COMPETITIVE RIVALRY
5.14.2 THREAT OF NEW ENTRANTS
5.14.3 THREAT OF SUBSTITUTES
5.14.4 BARGAINING POWER OF BUYERS
5.14.5 BARGAINING POWER OF SUPPLIERS
5.15 KEY STAKEHOLDERS AND BUYING CRITERIA
5.15.1 KEY STAKEHOLDERS IN BUYING PROCESS
5.15.2 BUYING CRITERIA
5.16 IMPACT OF AI/GEN AI ON SMART LIGHTING MARKET
6 SMART LIGHTING MARKET, BY COMMUNICATION TECHNOLOGY
6.1 INTRODUCTION
6.2 WIRED
6.2.1 DALI
6.2.1.1 Offers versatility and greater energy savings
6.2.2 POWER OVER ETHERNET (POE)
6.2.2.1 Used to power devices through Ethernet cables
6.2.3 POWER LINE COMMUNICATIONS (PLCS)
6.2.3.1 Help improve connectivity between lighting solutions
6.2.4 WIRED HYBRID PROTOCOLS
6.2.4.1 Ensure security and isolation of control systems
6.3 WIRELESS
6.3.1 ZIGBEE
6.3.1.1 Serves low-power wireless IoT networks
6.3.2 WI-FI
6.3.2.1 Facilitates direct device-to-device connections
6.3.3 BLE
6.3.3.1 Enhances user mobility by eliminating cables
6.3.4 ENOCEAN
6.3.4.1 Enables prolonged communication without need for recharging
6.3.5 6LOWPAN
6.3.5.1 Facilitates communication for devices with limited processing capabilities
6.3.6 WIRELESS HYBRID PROTOCOLS
6.3.6.1 Improve data transmission through proactive and reactive routing
7 SMART LIGHTING MARKET, BY END-USE APPLICATION
7.1 INTRODUCTION
7.2 INDOOR
7.2.1 COMMERCIAL
7.2.1.1 Increasing demand from corporate offices to drive growth
7.2.2 INDUSTRIAL
7.2.2.1 Rising demand for enhanced safety and productivity to drive market
7.2.3 RESIDENTIAL
7.2.3.1 Growing demand for smart home solutions to boost market
7.2.4 OTHERS
7.3 OUTDOOR
7.3.1 HIGHWAYS AND ROADWAYS LIGHTING
7.3.1.1 Growing need for connected street lighting systems to fuel growth
7.3.2 ARCHITECTURAL LIGHTING
7.3.2.1 Increasing proliferation of human-centric lighting to drive demand
7.3.3 LIGHTING FOR PUBLIC PLACES
7.3.3.1 Growing need to enhance safety and security to drive growth
8 SMART LIGHTING MARKET, BY DISTRIBUTION CHANNEL
8.1 INTRODUCTION
8.2 OFFLINE SALES
8.2.1 EXPANSION OF SMART CITY PROJECTS AND COMMERCIAL RETROFITTING TO FUEL DEMAND
8.3 ONLINE SALES
8.3.1 WIDER PRODUCT AVAILABILITY, COMPETITIVE PRICING, CONVENIENCE,
AND DETAILED PRODUCT COMPARISONS TO DRIVE MARKET
9 SMART LIGHTING MARKET, BY OFFERING
9.1 INTRODUCTION
9.2 HARDWARE
9.2.1 LIGHTS AND LUMINAIRES
9.2.1.1 Increasing adoption of energy-efficient LED luminaires, rising smart home penetration, and large-scale infrastructure projects to boost demand
9.2.2 LIGHTING CONTROLS
9.2.2.1 LED drivers and ballasts
9.2.2.1.1 Ability of programmable and adaptive LED to enhance energy efficiency and extend the lifespan of LED luminaires to drive growth
9.2.2.2 Sensors
9.2.2.2.1 Increasing adoption in residential applications to drive growth
9.2.2.3 Switches
9.2.2.3.1 Easy lighting control to increase demand
9.2.2.4 Dimmers
9.2.2.4.1 Enhanced flexibility to drive market
9.2.2.5 Relay units
9.2.2.5.1 Improved lighting control to drive market
9.2.2.6 Gateways
9.2.2.6.1 High demand for facilitating communication between controllers to drive market
9.3 SOFTWARE
9.3.1 ABILITY TO OPTIMIZE ENERGY CONSUMPTION WHILE ENHANCING USER CONVENIENCE TO DRIVE MARKET
9.4 SERVICES
9.4.1 PRE-INSTALLATION SERVICES
9.4.1.1 Help tailor lighting solutions to suit customer requirements
9.4.2 POST-INSTALLATION SERVICES
9.4.2.1 Prolonged lifespan of luminaires and lamps while optimizing energy consumption and efficiency to drive demand
10 SMART LIGHTING MARKET, BY INSTALLATION TYPE
10.1 INTRODUCTION
10.2 NEW INSTALLATIONS
10.2.1 INCREASING ADOPTION OF SMART CITY INITIATIVES AND STRINGENT ENERGY EFFICIENCY REGULATIONS TO DRIVE GROWTH
10.3 RETROFIT INSTALLATIONS
10.3.1 REDUCED DOWNTIME AND INSTALLATION COSTS DUE TO COMPATIBILITY WITH EXISTING LIGHTING TO DRIVE ADOPTION
11 SMART LIGHTING MARKET, BY REGION
11.1 INTRODUCTION
11.2 AMERICAS
11.2.1 AMERICAS: MACROECONOMIC OUTLOOK
11.2.2 NORTH AMERICA
11.2.2.1 US
11.2.2.1.1 Burgeoning demand for energy-efficient lighting technologies to drive market
11.2.2.2 Canada
11.2.2.2.1 Rising demand in commercial and industrial sectors to drive growth
11.2.2.3 Mexico
11.2.2.3.1 Development of smart cities and growing utilization of wireless technologies to boost demand
11.2.3 SOUTH AMERICA
11.2.3.1 Brazil
11.2.3.1.1 Government policies and large-scale urban modernization projects to drive growth
11.2.3.2 Argentina
11.2.3.2.1 Rising need to replace traditional lamps with energy-efficient alternatives to fuel demand
11.2.3.3 Rest of South America
11.3 EUROPE
11.3.1 EUROPE: MACROECONOMIC OUTLOOK
11.3.2 GERMANY
11.3.2.1 Increasing demand from commercial sector to drive market
11.3.3 FRANCE
11.3.3.1 Need for sustainable lighting in public spaces to fuel market
11.3.4 UK
11.3.4.1 Growing demand from public and private spaces to propel market
11.3.5 ITALY
11.3.5.1 Resurgence of construction industry to boost demand
11.3.6 SPAIN
11.3.6.1 Emission reduction goals to drive market
11.3.7 NETHERLANDS
11.3.7.1 Government initiatives promoting energy-efficient lighting
to drive growth
11.3.8 REST OF EUROPE
11.4 ASIA PACIFIC
11.4.1 ASIA PACIFIC: MACROECONOMIC OUTLOOK
11.4.2 CHINA
11.4.2.1 Rising construction activities to accelerate demand
11.4.3 JAPAN
11.4.3.1 Growing focus on smart city development to propel market
11.4.4 INDIA
11.4.4.1 Increasing demand from construction sector to drive growth
11.4.5 AUSTRALIA & NEW ZEALAND
11.4.5.1 Growing focus on sustainability initiatives to boost market
11.4.6 SOUTH KOREA
11.4.6.1 Growing demand from commercial buildings and
residential developments to fuel growth
11.4.7 REST OF ASIA PACIFIC
11.5 ROW
11.5.1 ROW: MACROECONOMIC OUTLOOK
11.5.2 MIDDLE EAST
11.5.2.1 Demand for connected urban environments to drive market
11.5.2.2 GCC Countries
11.5.2.3 Rest of the Middle East
11.5.3 AFRICA
11.5.3.1 Increasing investments in infrastructure and renewable energy to drive market
12 COMPETITIVE LANDSCAPE
12.1 OVERVIEW
12.2 KEY PLAYER STRATEGIES/RIGHT TO WIN, JANUARY 2021– JANUARY 2025
12.3 REVENUE ANALYSIS, 2020–2024
12.4 MARKET SHARE ANALYSIS, 2024
12.5 COMPANY VALUATION AND FINANCIAL METRICS
12.5.1 COMPANY VALUATION
12.5.2 FINANCIAL METRICS
12.6 BRAND/PRODUCT COMPARISON
12.7 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2024
12.7.1 STARS
12.7.2 EMERGING LEADERS
12.7.3 PERVASIVE PLAYERS
12.7.4 PARTICIPANTS
12.7.5 COMPANY FOOTPRINT: KEY PLAYERS, 2024
12.7.5.1 Company footprint
12.7.5.2 Region footprint
12.7.5.3 Installation type footprint
12.7.5.4 Offering footprint
12.7.5.5 End-use application footprint
12.7.5.6 Communication technology footprint
12.8 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2024
12.8.1 PROGRESSIVE COMPANIES
12.8.2 RESPONSIVE COMPANIES
12.8.3 DYNAMIC COMPANIES
12.8.4 STARTING BLOCKS
12.8.5 COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2024
12.8.5.1 Detailed list of startups/SMEs
12.8.5.2 Competitive benchmarking of key startups/SMEs
12.9 COMPETITIVE SCENARIO
12.9.1 PRODUCT LAUNCHES/DEVELOPMENTS
12.9.2 DEALS
12.9.3 EXPANSIONS
13 COMPANY PROFILES
13.1 INTRODUCTION
13.2 KEY PLAYERS
13.2.1 SIGNIFY HOLDING
13.2.1.1 Business overview
13.2.1.2 Products/Solutions/Services offered
13.2.1.3 Recent developments
13.2.1.3.1 Product launches/developments
13.2.1.3.2 Deals
13.2.1.4 MnM view
13.2.1.4.1 Key strengths
13.2.1.4.2 Strategic choices
13.2.1.4.3 Weaknesses and competitive threats
13.2.2 LEGRAND
13.2.2.1 Business overview
13.2.2.2 Products/Solutions/Services offered
13.2.2.3 Recent developments
13.2.2.3.1 Product launches/Developments
13.2.2.3.2 Deals
13.2.2.4 MnM view
13.2.2.4.1 Key strengths
13.2.2.4.2 Strategic choices
13.2.2.4.3 Weaknesses and competitive threats
13.2.3 ACUITY BRANDS, INC.
13.2.3.1 Business overview
13.2.3.2 Products/Solutions/Services offered
13.2.3.3 Recent developments
13.2.3.3.1 Product launches/developments
13.2.3.3.2 Deals
13.2.3.4 MnM view
13.2.3.4.1 Key strengths
13.2.3.4.2 Strategic choices
13.2.3.4.3 Weaknesses and competitive threats
13.2.4 ZUMTOBEL GROUP
13.2.4.1 Business overview
13.2.4.2 Products/Solutions/Services offered
13.2.4.3 Recent developments
13.2.4.3.1 Deals
13.2.4.4 MnM view
13.2.4.4.1 Key strengths
13.2.4.4.2 Strategic choices
13.2.4.4.3 Weaknesses and competitive threats
13.2.5 PANASONIC HOLDINGS CORPORATION
13.2.5.1 Business overview
13.2.5.2 Products/Solutions/Services offered
13.2.5.3 Recent developments
13.2.5.3.1 Expansions
13.2.5.4 MnM view
13.2.5.4.1 Key strengths
13.2.5.4.2 Strategic choices
13.2.5.4.3 Weaknesses and competitive threats
13.2.6 AMS-OSRAM AG
13.2.6.1 Business overview
13.2.6.2 Products/Solutions/Services offered
13.2.6.3 Recent developments
13.2.6.3.1 Product launches/developments
13.2.6.3.2 Deals
13.2.7 HONEYWELL INTERNATIONAL INC.
13.2.7.1 Business overview
13.2.7.2 Products/Solutions/Services offered
13.2.7.3 Recent developments
13.2.7.3.1 Deals
13.2.8 WIPRO LIGHTING
13.2.8.1 Business overview
13.2.8.2 Products/Solutions/Services offered
13.2.8.3 Recent developments
13.2.8.3.1 Deals
13.2.8.3.2 Expansions
13.2.9 LUTRON ELECTRONICS CO., INC
13.2.9.1 Business overview
13.2.9.2 Products/Solutions/Services offered
13.2.9.3 Recent developments
13.2.9.3.1 Product launches/developments
13.2.10 CREE LIGHTING USA LLC
13.2.10.1 Business overview
13.2.10.2 Products/Solutions/Services offered
13.2.10.3 Recent developments
13.2.10.3.1 Product launches/developments
13.2.11 LEDVANCE GMBH
13.2.11.1 Business overview
13.2.11.2 Products/Solutions/Services offered
13.2.11.3 Recent developments
13.2.11.3.1 Product launches/developments
13.2.11.3.2 Deals
13.3 OTHER PLAYERS
13.3.1 HLI SOLUTIONS, INC.
13.3.2 SAVANT SYSTEMS, INC.
13.3.3 DIALIGHT
13.3.4 SCHNEIDER ELECTRIC
13.3.5 ABB
13.3.6 LIGHTWAVE
13.3.7 RAB LIGHTING INC.
13.3.8 SYNAPSE WIRELESS INC.
13.3.9 LEVITON MANUFACTURING CO., INC.
13.3.10 SYSKA
13.3.11 BUILDING ROBOTICS INC. (SIEMENS COMPANY)
13.3.12 HELVAR
13.3.13 LIFX
13.3.14 SENGLED GMBH
13.3.15 TVILIGHT PROJECTS B.V.
13.3.16 NANOLEAF
13.3.17 UBICQUIA, INC.
13.3.18 JAQUAR INDIA
13.3.19 INTER IKEA SYSTEMS B.V.
14 APPENDIX
14.1 INSIGHTS FROM INDUSTRY EXPERTS
14.2 DISCUSSION GUIDE
14.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
14.4 CUSTOMIZATION OPTIONS
14.5 RELATED REPORTS
14.6 AUTHOR DETAILS
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.3 STUDY SCOPE
1.3.1 MARKETS COVERED
1.3.2 INCLUSIONS & EXCLUSIONS
1.3.3 YEARS CONSIDERED
1.3.4 CURRENCY CONSIDERED
1.3.5 UNIT CONSIDERED
1.4 LIMITATIONS
1.5 STAKEHOLDERS
1.6 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
2.1.1 SECONDARY DATA
2.1.1.1 Key data from secondary sources
2.1.1.2 Key secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Key data from primary sources
2.1.2.2 Key participants in primary interviews
2.1.2.3 Breakdown of primary interviews
2.1.2.4 Insights of industry experts
2.1.3 SECONDARY AND PRIMARY RESEARCH
2.2 MARKET SIZE ESTIMATION
2.2.1 BOTTOM-UP APPROACH
2.2.1.1 Approach to derive market size using bottom-up analysis
2.2.2 TOP-DOWN APPROACH
2.2.2.1 Approach to derive market size using top-down analysis
2.3 MARKET SHARE ESTIMATION
2.4 DATA TRIANGULATION
2.5 RISK ASSESSMENT
2.6 RESEARCH ASSUMPTIONS AND LIMITATIONS
2.6.1 RESEARCH ASSUMPTIONS
2.6.2 RESEARCH LIMITATIONS
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN SMART LIGHTING MARKET
4.2 SMART LIGHTING MARKET, BY INSTALLATION TYPE
4.3 SMART LIGHTING MARKET, BY END-USE APPLICATION
4.4 SMART LIGHTING MARKET, BY OFFERING
4.5 SMART LIGHTING MARKET, BY COMMUNICATION TECHNOLOGY
4.6 SMART LIGHTING MARKET, BY DISTRIBUTION CHANNEL
4.7 SMART LIGHTING MARKET, BY REGION
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
5.2.1 DRIVERS
5.2.1.1 Rising smart city initiatives globally
5.2.1.2 Advancements in Artificial Intelligence (AI) and edge computing technologies
5.2.1.3 Establishment of standard and digital protocols by authorized bodies
5.2.1.4 Growing demand for Internet of Things (IoT)-integrated smart lighting solutions
5.2.1.5 Rising adoption of LED lights and luminaires in outdoor applications
5.2.1.6 Increasing incorporation of data analytics into smart lighting
5.2.2 RESTRAINTS
5.2.2.1 Cybersecurity concerns associated with internet-connected lighting systems
5.2.2.2 Difficulties associated with retrofitting of traditional lighting infrastructure
5.2.3 OPPORTUNITIES
5.2.3.1 Development of solar-powered and hybrid smart lighting solutions
5.2.3.2 Emerging smart office and smart retail trends
5.2.3.3 Rising adoption of human-centric lighting solutions
5.2.3.4 Growing adoption of Power over Ethernet (PoE)-based lighting solutions in commercial and healthcare applications
5.2.3.5 Increasing demand for personalized lighting control solutions
5.2.4 CHALLENGES
5.2.4.1 High upfront costs of equipment and accessories
5.2.4.2 Interoperability and compatibility issues
5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS
5.4 PRICING ANALYSIS
5.4.1 AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY OFFERING, 2024
5.4.2 AVERAGE SELLING PRICE TREND, BY REGION, 2020–2024
5.5 VALUE CHAIN ANALYSIS
5.6 ECOSYSTEM ANALYSIS
5.7 INVESTMENT AND FUNDING SCENARIO
5.8 TECHNOLOGY ANALYSIS
5.8.1 KEY TECHNOLOGIES
5.8.1.1 Internet of Things (IoT)
5.8.1.2 Communication protocols
5.8.1.3 Smart sensors
5.8.2 COMPLEMENTARY TECHNOLOGIES
5.8.2.1 Artificial Intelligence (AI) and Machine Learning (ML)
5.8.2.2 Light fidelity (Li-Fi)
5.8.2.3 Geofencing technology
5.8.3 ADJACENT TECHNOLOGIES
5.8.3.1 Building management system (BMS)
5.8.3.2 5G infrastructure
5.9 PATENT ANALYSIS
5.10 TRADE ANALYSIS
5.10.1 IMPORT SCENARIO (HS CODE 9405)
5.10.2 EXPORT SCENARIO (HS CODE 9405)
5.11 KEY CONFERENCES AND EVENTS, 2025–2026
5.12 CASE STUDY ANALYSIS
5.12.1 ULINE USES CREE LIGHTING LUMINAIRES INTEGRATED WITH SYNAPSE SIMPLYSNAP CONTROLS TO HELP ACHIEVE OPERATIONAL EXCELLENCE
AND RELIABILITY
5.12.2 GERMAN MUNICIPALITY IMPLEMENTS SIGNIFY HOLDING’S BRIGHTSITES SOLUTION TO ADVANCE SMART CITY GOALS
5.12.3 HONEYWELL INTERNATIONAL INC. ESTABLISHES NEW AIRFIELD GROUND LIGHT MANUFACTURING FACILITY IN INDIA
5.13 TARIFF AND REGULATORY LANDSCAPE
5.13.1 TARIFF ANALYSIS
5.13.2 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
5.13.3 REGULATIONS
5.13.3.1 Restriction of Hazardous Substances (ROHS) and Waste Electrical and Electronic Equipment (WEEE)
5.13.3.2 Registration, Evaluation, Authorisation and Restriction of Chemicals (REACH)
5.13.3.3 United Nations Framework Convention on Climate Change (UNFCCC)
5.13.3.4 General Data Protection Regulation (GDPR)
5.14 PORTER’S FIVE FORCES ANALYSIS
5.14.1 INTENSITY OF COMPETITIVE RIVALRY
5.14.2 THREAT OF NEW ENTRANTS
5.14.3 THREAT OF SUBSTITUTES
5.14.4 BARGAINING POWER OF BUYERS
5.14.5 BARGAINING POWER OF SUPPLIERS
5.15 KEY STAKEHOLDERS AND BUYING CRITERIA
5.15.1 KEY STAKEHOLDERS IN BUYING PROCESS
5.15.2 BUYING CRITERIA
5.16 IMPACT OF AI/GEN AI ON SMART LIGHTING MARKET
6 SMART LIGHTING MARKET, BY COMMUNICATION TECHNOLOGY
6.1 INTRODUCTION
6.2 WIRED
6.2.1 DALI
6.2.1.1 Offers versatility and greater energy savings
6.2.2 POWER OVER ETHERNET (POE)
6.2.2.1 Used to power devices through Ethernet cables
6.2.3 POWER LINE COMMUNICATIONS (PLCS)
6.2.3.1 Help improve connectivity between lighting solutions
6.2.4 WIRED HYBRID PROTOCOLS
6.2.4.1 Ensure security and isolation of control systems
6.3 WIRELESS
6.3.1 ZIGBEE
6.3.1.1 Serves low-power wireless IoT networks
6.3.2 WI-FI
6.3.2.1 Facilitates direct device-to-device connections
6.3.3 BLE
6.3.3.1 Enhances user mobility by eliminating cables
6.3.4 ENOCEAN
6.3.4.1 Enables prolonged communication without need for recharging
6.3.5 6LOWPAN
6.3.5.1 Facilitates communication for devices with limited processing capabilities
6.3.6 WIRELESS HYBRID PROTOCOLS
6.3.6.1 Improve data transmission through proactive and reactive routing
7 SMART LIGHTING MARKET, BY END-USE APPLICATION
7.1 INTRODUCTION
7.2 INDOOR
7.2.1 COMMERCIAL
7.2.1.1 Increasing demand from corporate offices to drive growth
7.2.2 INDUSTRIAL
7.2.2.1 Rising demand for enhanced safety and productivity to drive market
7.2.3 RESIDENTIAL
7.2.3.1 Growing demand for smart home solutions to boost market
7.2.4 OTHERS
7.3 OUTDOOR
7.3.1 HIGHWAYS AND ROADWAYS LIGHTING
7.3.1.1 Growing need for connected street lighting systems to fuel growth
7.3.2 ARCHITECTURAL LIGHTING
7.3.2.1 Increasing proliferation of human-centric lighting to drive demand
7.3.3 LIGHTING FOR PUBLIC PLACES
7.3.3.1 Growing need to enhance safety and security to drive growth
8 SMART LIGHTING MARKET, BY DISTRIBUTION CHANNEL
8.1 INTRODUCTION
8.2 OFFLINE SALES
8.2.1 EXPANSION OF SMART CITY PROJECTS AND COMMERCIAL RETROFITTING TO FUEL DEMAND
8.3 ONLINE SALES
8.3.1 WIDER PRODUCT AVAILABILITY, COMPETITIVE PRICING, CONVENIENCE,
AND DETAILED PRODUCT COMPARISONS TO DRIVE MARKET
9 SMART LIGHTING MARKET, BY OFFERING
9.1 INTRODUCTION
9.2 HARDWARE
9.2.1 LIGHTS AND LUMINAIRES
9.2.1.1 Increasing adoption of energy-efficient LED luminaires, rising smart home penetration, and large-scale infrastructure projects to boost demand
9.2.2 LIGHTING CONTROLS
9.2.2.1 LED drivers and ballasts
9.2.2.1.1 Ability of programmable and adaptive LED to enhance energy efficiency and extend the lifespan of LED luminaires to drive growth
9.2.2.2 Sensors
9.2.2.2.1 Increasing adoption in residential applications to drive growth
9.2.2.3 Switches
9.2.2.3.1 Easy lighting control to increase demand
9.2.2.4 Dimmers
9.2.2.4.1 Enhanced flexibility to drive market
9.2.2.5 Relay units
9.2.2.5.1 Improved lighting control to drive market
9.2.2.6 Gateways
9.2.2.6.1 High demand for facilitating communication between controllers to drive market
9.3 SOFTWARE
9.3.1 ABILITY TO OPTIMIZE ENERGY CONSUMPTION WHILE ENHANCING USER CONVENIENCE TO DRIVE MARKET
9.4 SERVICES
9.4.1 PRE-INSTALLATION SERVICES
9.4.1.1 Help tailor lighting solutions to suit customer requirements
9.4.2 POST-INSTALLATION SERVICES
9.4.2.1 Prolonged lifespan of luminaires and lamps while optimizing energy consumption and efficiency to drive demand
10 SMART LIGHTING MARKET, BY INSTALLATION TYPE
10.1 INTRODUCTION
10.2 NEW INSTALLATIONS
10.2.1 INCREASING ADOPTION OF SMART CITY INITIATIVES AND STRINGENT ENERGY EFFICIENCY REGULATIONS TO DRIVE GROWTH
10.3 RETROFIT INSTALLATIONS
10.3.1 REDUCED DOWNTIME AND INSTALLATION COSTS DUE TO COMPATIBILITY WITH EXISTING LIGHTING TO DRIVE ADOPTION
11 SMART LIGHTING MARKET, BY REGION
11.1 INTRODUCTION
11.2 AMERICAS
11.2.1 AMERICAS: MACROECONOMIC OUTLOOK
11.2.2 NORTH AMERICA
11.2.2.1 US
11.2.2.1.1 Burgeoning demand for energy-efficient lighting technologies to drive market
11.2.2.2 Canada
11.2.2.2.1 Rising demand in commercial and industrial sectors to drive growth
11.2.2.3 Mexico
11.2.2.3.1 Development of smart cities and growing utilization of wireless technologies to boost demand
11.2.3 SOUTH AMERICA
11.2.3.1 Brazil
11.2.3.1.1 Government policies and large-scale urban modernization projects to drive growth
11.2.3.2 Argentina
11.2.3.2.1 Rising need to replace traditional lamps with energy-efficient alternatives to fuel demand
11.2.3.3 Rest of South America
11.3 EUROPE
11.3.1 EUROPE: MACROECONOMIC OUTLOOK
11.3.2 GERMANY
11.3.2.1 Increasing demand from commercial sector to drive market
11.3.3 FRANCE
11.3.3.1 Need for sustainable lighting in public spaces to fuel market
11.3.4 UK
11.3.4.1 Growing demand from public and private spaces to propel market
11.3.5 ITALY
11.3.5.1 Resurgence of construction industry to boost demand
11.3.6 SPAIN
11.3.6.1 Emission reduction goals to drive market
11.3.7 NETHERLANDS
11.3.7.1 Government initiatives promoting energy-efficient lighting
to drive growth
11.3.8 REST OF EUROPE
11.4 ASIA PACIFIC
11.4.1 ASIA PACIFIC: MACROECONOMIC OUTLOOK
11.4.2 CHINA
11.4.2.1 Rising construction activities to accelerate demand
11.4.3 JAPAN
11.4.3.1 Growing focus on smart city development to propel market
11.4.4 INDIA
11.4.4.1 Increasing demand from construction sector to drive growth
11.4.5 AUSTRALIA & NEW ZEALAND
11.4.5.1 Growing focus on sustainability initiatives to boost market
11.4.6 SOUTH KOREA
11.4.6.1 Growing demand from commercial buildings and
residential developments to fuel growth
11.4.7 REST OF ASIA PACIFIC
11.5 ROW
11.5.1 ROW: MACROECONOMIC OUTLOOK
11.5.2 MIDDLE EAST
11.5.2.1 Demand for connected urban environments to drive market
11.5.2.2 GCC Countries
11.5.2.3 Rest of the Middle East
11.5.3 AFRICA
11.5.3.1 Increasing investments in infrastructure and renewable energy to drive market
12 COMPETITIVE LANDSCAPE
12.1 OVERVIEW
12.2 KEY PLAYER STRATEGIES/RIGHT TO WIN, JANUARY 2021– JANUARY 2025
12.3 REVENUE ANALYSIS, 2020–2024
12.4 MARKET SHARE ANALYSIS, 2024
12.5 COMPANY VALUATION AND FINANCIAL METRICS
12.5.1 COMPANY VALUATION
12.5.2 FINANCIAL METRICS
12.6 BRAND/PRODUCT COMPARISON
12.7 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2024
12.7.1 STARS
12.7.2 EMERGING LEADERS
12.7.3 PERVASIVE PLAYERS
12.7.4 PARTICIPANTS
12.7.5 COMPANY FOOTPRINT: KEY PLAYERS, 2024
12.7.5.1 Company footprint
12.7.5.2 Region footprint
12.7.5.3 Installation type footprint
12.7.5.4 Offering footprint
12.7.5.5 End-use application footprint
12.7.5.6 Communication technology footprint
12.8 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2024
12.8.1 PROGRESSIVE COMPANIES
12.8.2 RESPONSIVE COMPANIES
12.8.3 DYNAMIC COMPANIES
12.8.4 STARTING BLOCKS
12.8.5 COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2024
12.8.5.1 Detailed list of startups/SMEs
12.8.5.2 Competitive benchmarking of key startups/SMEs
12.9 COMPETITIVE SCENARIO
12.9.1 PRODUCT LAUNCHES/DEVELOPMENTS
12.9.2 DEALS
12.9.3 EXPANSIONS
13 COMPANY PROFILES
13.1 INTRODUCTION
13.2 KEY PLAYERS
13.2.1 SIGNIFY HOLDING
13.2.1.1 Business overview
13.2.1.2 Products/Solutions/Services offered
13.2.1.3 Recent developments
13.2.1.3.1 Product launches/developments
13.2.1.3.2 Deals
13.2.1.4 MnM view
13.2.1.4.1 Key strengths
13.2.1.4.2 Strategic choices
13.2.1.4.3 Weaknesses and competitive threats
13.2.2 LEGRAND
13.2.2.1 Business overview
13.2.2.2 Products/Solutions/Services offered
13.2.2.3 Recent developments
13.2.2.3.1 Product launches/Developments
13.2.2.3.2 Deals
13.2.2.4 MnM view
13.2.2.4.1 Key strengths
13.2.2.4.2 Strategic choices
13.2.2.4.3 Weaknesses and competitive threats
13.2.3 ACUITY BRANDS, INC.
13.2.3.1 Business overview
13.2.3.2 Products/Solutions/Services offered
13.2.3.3 Recent developments
13.2.3.3.1 Product launches/developments
13.2.3.3.2 Deals
13.2.3.4 MnM view
13.2.3.4.1 Key strengths
13.2.3.4.2 Strategic choices
13.2.3.4.3 Weaknesses and competitive threats
13.2.4 ZUMTOBEL GROUP
13.2.4.1 Business overview
13.2.4.2 Products/Solutions/Services offered
13.2.4.3 Recent developments
13.2.4.3.1 Deals
13.2.4.4 MnM view
13.2.4.4.1 Key strengths
13.2.4.4.2 Strategic choices
13.2.4.4.3 Weaknesses and competitive threats
13.2.5 PANASONIC HOLDINGS CORPORATION
13.2.5.1 Business overview
13.2.5.2 Products/Solutions/Services offered
13.2.5.3 Recent developments
13.2.5.3.1 Expansions
13.2.5.4 MnM view
13.2.5.4.1 Key strengths
13.2.5.4.2 Strategic choices
13.2.5.4.3 Weaknesses and competitive threats
13.2.6 AMS-OSRAM AG
13.2.6.1 Business overview
13.2.6.2 Products/Solutions/Services offered
13.2.6.3 Recent developments
13.2.6.3.1 Product launches/developments
13.2.6.3.2 Deals
13.2.7 HONEYWELL INTERNATIONAL INC.
13.2.7.1 Business overview
13.2.7.2 Products/Solutions/Services offered
13.2.7.3 Recent developments
13.2.7.3.1 Deals
13.2.8 WIPRO LIGHTING
13.2.8.1 Business overview
13.2.8.2 Products/Solutions/Services offered
13.2.8.3 Recent developments
13.2.8.3.1 Deals
13.2.8.3.2 Expansions
13.2.9 LUTRON ELECTRONICS CO., INC
13.2.9.1 Business overview
13.2.9.2 Products/Solutions/Services offered
13.2.9.3 Recent developments
13.2.9.3.1 Product launches/developments
13.2.10 CREE LIGHTING USA LLC
13.2.10.1 Business overview
13.2.10.2 Products/Solutions/Services offered
13.2.10.3 Recent developments
13.2.10.3.1 Product launches/developments
13.2.11 LEDVANCE GMBH
13.2.11.1 Business overview
13.2.11.2 Products/Solutions/Services offered
13.2.11.3 Recent developments
13.2.11.3.1 Product launches/developments
13.2.11.3.2 Deals
13.3 OTHER PLAYERS
13.3.1 HLI SOLUTIONS, INC.
13.3.2 SAVANT SYSTEMS, INC.
13.3.3 DIALIGHT
13.3.4 SCHNEIDER ELECTRIC
13.3.5 ABB
13.3.6 LIGHTWAVE
13.3.7 RAB LIGHTING INC.
13.3.8 SYNAPSE WIRELESS INC.
13.3.9 LEVITON MANUFACTURING CO., INC.
13.3.10 SYSKA
13.3.11 BUILDING ROBOTICS INC. (SIEMENS COMPANY)
13.3.12 HELVAR
13.3.13 LIFX
13.3.14 SENGLED GMBH
13.3.15 TVILIGHT PROJECTS B.V.
13.3.16 NANOLEAF
13.3.17 UBICQUIA, INC.
13.3.18 JAQUAR INDIA
13.3.19 INTER IKEA SYSTEMS B.V.
14 APPENDIX
14.1 INSIGHTS FROM INDUSTRY EXPERTS
14.2 DISCUSSION GUIDE
14.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
14.4 CUSTOMIZATION OPTIONS
14.5 RELATED REPORTS
14.6 AUTHOR DETAILS
According to the new market research report "Smart Lighting Market by Offering (Hardware (Lights & Luminaires, Lighting Controls), Software, and Services), Communication Technology (Wired and Wireless), Installation Type, Application Type, and Geography - Global Forecast to 2023", The smart lighting market is estimated to grow from USD 7.93 Billion in 2018 to USD 20.98 Billion by 2023, at a CAGR of 21.50% between 2018 and 2023. The major factors driving the growth of the smart lighting market include modernization and development of infrastructure to transform cities into smart cities, need for energy-efficient lighting systems, increasing adoption and decreasing cost of LEDs, increased demand for intelligent solutions for street lighting systems, and growing awareness about energy savings among consumers and governments worldwide.
Some of the major players in the smart lighting market are
- Philips Lighting (Netherlands)
- Hafele Group (Germany)
- Acuity Brands (US)
- OSRAM (Germany)
- Cree (US)
- Hubbell (US)
- Zumtobel Group (Austria)
- Honeywell (US)
- Legrand (France)
- Eaton (Ireland)
- Lutron Electronics (US)
- General Electric (US)
Smart lighting market for services to grow at highest CAGR between 2018 and 2023
Services play a major role before and after the installation of smart lighting systems. This segment comprises design and engineering services, installation service, and post-installation services (maintenance, and support and monitoring services). The growth of the smart lighting market for services is mainly attributed to the expected high rate of adoption of smart street lighting systems for energy conservation and ecological safety during the forecast period. Post-installation services consist of maintenance, support, and monitoring services for smart lighting systems. Among these, maintenance and support services require high expenditure. Post-installation services consist of maintenance and support for smart lighting systems to ensure long life of the luminaires and lamps, with minimum energy consumption and maximum efficiency.
Indoor application to hold larger share of smart lighting market by 2023
Indoor application (residential, commercial, and industrial) is expected to hold a larger size of the smart lighting market during the forecast period. In residential applications, smart lighting can be installed according to the requirement of a particular room or an entire house. The incorporation of wireless technology in smart lightings would help the market for residential indoor application to grow at a high rate. The commercial application of smart lighting includes the implementation of these lightings in offices, retail shops, shopping malls, and hospitality infrastructure. Reducing energy consumption has become a major objective for building owners, governments, utilities, and other stakeholders. Replacing existing lights with more energy-efficient lighting sources, such as LEDs, is one of the ways to reduce massive energy consumption; however, it is a small-scale solution for the issue. On a large scale, energy consumption can be reduced by turning the lights off when not required, optimizing light levels to suit the workers occupants needs, and reducing the overall demand for lighting energy. These measures come under smart lighting arrangement, which is the best way to ensure the automatic reduction in energy consumed in the lighting task.
Smart lighting market for wireless connectivity to grow at higher CAGR between 2018 and 2023
The use of lightings based on wireless technology eliminates the wire usage, thereby abolishing the need for installation and protection of cables. Therefore, the wireless smart lighting systems have significantly low cost. Also, the wireless system is flexible in nature. Thus, sensors equipped with wireless communication can be organized into an autonomous network, which makes updating, adding, moving, and replacing of sensors easy after the initial installation. The developments in wireless technologies are expected to drive the growth of the smart lighting market for the wireless communication protocols.
APAC to hold largest share of smart lighting market by 2023
The smart lighting market in APAC is expected to grow at the highest CAGR during the forecast period. The region provides the enormous growth potential for the market players, and these smart lighting systems are likely to be accepted by consumers as an integral part of a digitalized household. The increased construction activities in APAC are contributing significantly to the growth of the smart lighting market in the region. The expected construction of ~200 million homes in China and 18 million homes in India is likely to provide several new opportunities for energy-efficient lighting and home automation in the next few years in this region. Moreover, the emerging economies of China and India are having a positive impact on the overall market in APAC. Rising government expenditure on public infrastructure, increasing adoption of energy-efficient lighting systems are the major driving factors for the growth of smart lighting in APAC.
