Global Smart Lighting Market (2018-2023) by Offering, Communication Technology, Installation Type and Application Type - Market to Grow at a CAGR of 21.5% - ResearchAndMarkets.com

DUBLIN--()--The "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" report has been added to ResearchAndMarkets.com's offering.

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 21.5% between 2018 and 2023.

APAC is expected to be the fastest-growing market for smart lighting during the forecast period. The smart lighting market has enormous growth potential in APAC, and these systems are likely to be accepted by consumers as an integral part of a digitalized household. Moreover, the emerging economies of China and India have a positive impact on the overall market in APAC. 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. Rising government expenditure on public infrastructure, increasing the adoption of energy-efficient lighting systems are the major driving factors for the growth of the smart lighting market in APAC.

Market Dynamics

Drivers

  • Modernization and Development of Infrastructure to Transform Cities Into Smart Cities
  • Increased Demand for Intelligent Solutions for Street Lighting Systems
  • Need for Energy-Efficient Lighting Systems
  • Increasing Penetration and Decreasing Cost of LEDs
  • Growing Awareness About Energy Savings Among Consumers and Governments Worldwide

Restraints

  • Perception of Higher Costs of Installation and Limited Awareness About Payback Periods
  • Security and Privacy Issues in Smart Lighting Systems

Opportunities

  • Advancement of Wireless Communication Technology for Smart Lighting Systems
  • Increasing Number of Smart City Projects
  • Development of IoT Technology for Smart Lighting

Challenges

  • Lack of Universal Open Standards for Aiding Communication Between All IoT Devices

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Industry Trends

7 Smart Lighting Market, by Offering

8 Smart Lighting Market, by Communication Technology

9 Smart Lighting Market, by Application Type

10 Smart Lighting Market, by Installation Type

11 Geographic Analysis

12 Competitive Landscape

13 Company Profiles

  • Acuity Brands
  • Cree
  • Eaton
  • General Electric (GE + Current)
  • Gooee
  • Hafele Group
  • Honeywell
  • Hubbell Lighting
  • Isotera
  • Ketra
  • Legrand
  • Leviton Manufacturing
  • LIFX
  • Lutron Electronics
  • Nualight Limited
  • Osram
  • Philips Lighting
  • Streetlight.Vision
  • Switchmate, Inc.
  • Syska LED
  • Tao Light
  • Virtual Extension
  • Wipro Consumer Care and Lighting
  • Zumtobel Group

For more information about this report visit https://www.researchandmarkets.com/research/lrw2wd/global_smart?w=4

Contacts

ResearchAndMarkets.com
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T. Office Hours Call 1-917-300-0470
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For GMT Office Hours Call +353-1-416-8900
Related Topics: Lighting Equipment, Internet of Things and M2M

Contacts

ResearchAndMarkets.com
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T. Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics: Lighting Equipment, Internet of Things and M2M