DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/k9p6ls/global_smart) has announced the addition of the "Global Smart Light Fixture (LED, HID), Control (Sensor, Ballast, Relays & Switches) & Services Market: 2015-2020" report to their offering.
The key players identified in the report include companies such as Osram, Philips, Acuity Brands, Zumtobel, Lutron amongst others
With explosive demands of LEDs and its declining ASP, the advent of smart homes & building automation, and the ubiquity of Internet of Things (IoT) are expected to push the revenue generation to almost $60 billion by 2020 at a CAGR of 19.4% from 2015 to 2020. The segment of Data enabled Services is anticipated to be the fastest growing sector, reaching over $2.9 billion by 2020 at a CAGR of 53.6% through the forecast years.
The market is anticipated to stand strong with certain driving forces such as the influx of smart apps, IoT, remote access & control by software providers and addressing the burning issue of global energy crisis. With the global energy crisis looming large over the heads of the population, the adoption of lighting systems capable of conserving energy is mandatory. Moreover, the government legislations and policies are also the encouraging forces behind the growth of the market globally, the strongest one being from the European countries.
In addition to the rosier side for the market, there are certain pain points associated with the industry, anticipated to constrain the market growth during the forecast years. For example, the missing awareness and information about the multifarious advantages smart lighting present is a major obstruction to a wide scale adoption of intelligent lighting solutions. Another prominent factor is the lack of standards and interoperability issues, which inhibit the switching of conventional lighting type or controls to smart lighting systems.
The market for smart lighting and control systems have been broadly segmented by fixtures (LEDs and HIDs), controls, and data enables Services. The control market comprises of components such as relays and timers, actuators, sensors, and ballasts.
Smart lighting fixture and control market finds base across a plethora of applications broadly segmented as Residential, Commercial, and Others. Commercial applications are poised to become the dominant revenue contributors through the forecast period, riding high on sub segments such as hospitality, retail, and office buildings. The market for smart street lighting is gradually picking up pace and is expected to account for the largest market revenue in the Other application segment in the industry.
The smart lighting fixture and control market has also been estimated on the basis of the geographical distribution for the four key regions namely-North America, Europe, Asia Pacific, and Middle East. The current scenario implies the hegemony of APAC region with a market share of $8.17 billion in 2014, followed by North America with a market share of $6.29 billion. APAC with countries such as Taiwan, South Korea, and Japan will continue this trend of dominance through the forecast period also maintaining the highest CAGR of 21.26% from 2015 to 2020.
Key Topics Covered:
1 Executive Summary
2 Market Dynamics
3 Smart Lighting Market By Lighting Type
4 Smart Light Market By Components
5 Smart Lighting & Control System Application Market
6 Smart Lighting Market By Geography
7 Competitive Landscape (Controls)
8 Competitive Landscape (Lights)
9 Company Profiles (Component Manufacturers)
10 Company Profiles (Light Manufacturers)
- Acuity Brands
- Ams Ag
- Aura Lights
- Commscope, Inc.
- Crompton Greaves
- Daintree Networks
- Digital Lumens
- Eaton's Cooper Lighting
- Enlighted, Inc.
- Eyelighting International
- Ge Lighting
- Havells Sylavania
- Koninkiljke Philips Nv
- Lemnis Lighting
- Nxp Semiconductors
- Osram Gmbh
- Ritdisplay Corp.
- Tsmc Solid State Lighting Limited
- Wisechip Semiconductors
For more information visit http://www.researchandmarkets.com/research/k9p6ls/global_smart