Global Smart Lighting Market to 2025 - Focus on Smart Lighting Product, Application and Region - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Smart Lighting Market - A Global Market and Regional Analysis: Focus on Smart Lighting Product and Application, Supply Chain Analysis, Country Analysis, and Impact of COVID-19 Period - Analysis and Forecast, 2019-2025" report has been added to ResearchAndMarkets.com's offering.

The increasing worldwide demand for energy is responsible for a rise in energy prices, tight energy supplies, and growing anxiety about climate change and related liabilities. The lighting segment consumes most of the electricity in residential, commercial, and industrial sectors. Lighting accounts for 15% of total electricity consumption and 5% of total greenhouse gas emissions worldwide.

The future global economy is expected to consume more energy resources, especially with the growing energy demand from developing countries, such as China and India. Additionally, the risk of climate change associated with the use of fossil fuels has made the supply of energy increasingly difficult. Amidst the increasing energy demand and environmental concern, smart lighting systems are gaining popularity and are expected to grow at a noteworthy rate in the coming years. With the installation of the smart lighting system in a building, 50% of energy costs can be saved, enhancing the productivity and comfort of the user.

The report further considers the market dynamics, supply chain analysis, and the detailed product contribution of the key players operating in the market. The global smart lighting market report is a compilation of different segments, including market breakdown by component type, application, technology, region, and country.

The global smart lighting market, based on component type, has been categorized into fixture and control. The fixture category is expected to maintain its dominance during the forecast period. Further, the fixtures are subcategorized into key products - compact fluorescent lights (CFL), light-emitting diode (LED), organic light-emitting diode (OLED), high-intensity discharge (HID) lamps, and plasma lamps. The control category is further subcategorized into sensors, microprocessors and controllers, dimmers and switches, wireless transmitters and receivers, and ballasts and LED drivers

The global smart lighting market, by technology, has been categorized into wired and wireless technology. The wired segment dominated the global smart lighting market in 2020 and is expected to maintain its dominance through the forecast period.

Based on application, the global smart lighting market is categorized into residential, commercial, industrial, outdoor, and automotive. Smart lighting has maximum usage in residential applications. The increasing number of smart homes coupled with customization benefits are pushing the growth of the global smart lighting market in residential applications.

Based on the region, the global smart lighting market has been segmented into Asia-Pacific and Japan, Europe, the U.K., China, North America, South America, and the Middle East and Africa. Each region is segmented into countries. Data for each of these regions and countries is provided by the application, component type, and technology.

Key Questions Answered in this Report:

• What is the global smart lighting market size in terms of volume and revenue from 2019 to 2025?
• How is the industry expected to evolve during the forecast period 2021-2025?
• What has been the impact of COVID-19 on the smart lighting market?
• Which region will lead the global smart lighting market by 2025?
• Which application will lead the global smart lighting market by 2025?
• What are the driving factors for the global smart lighting market from 2019 to 2025?
• What are the underlying structures resulting in the emerging trends within the smart lighting market?
• Which factors are impeding the growth of the global smart lighting market?
• What is the role of governments regarding environmental issues and safety changing the landscape of the smart lighting market?
• What are the growth opportunities and critical success factors for participants to compete in this market?
• Who are the leading players in the global smart lighting market along with their ranking?
• What are the key developmental strategies implemented by the key players to sustain in the competitive market?

Market Dynamics

Drivers

• Prevailing Issue of Global Energy Crisis Supporting the Adoption of Smart Lighting
• Increasing Trend of Smart Homes along with Customization Benefits Supports Smart Lighting Market
• Continually Declining Average Selling Price (ASP) of LED Bulbs
• Development of Smart Cities

Challenges

• Security and Privacy Concerns
• Design Challenges with LED Usage
• Consumers Having to Bear High Replacement Costs to Switch from Existing Solutions to Smart Lighting
• Lack of Standards and the Associated Interoperability Issues

Opportunities

• Advancement in Lighting Control
• Integration of Physical Security Industry with Smart Lighting
• Changing Paradigm of Lighting Industry to Electronics Industry
• Adding Voice Control Feature to the Upcoming Products
• Consumer Awareness for Energy Conservation

Companies Mentioned

• Acuity Brands Inc.
• ams AG
• CommScope Holding Company Inc.
• Control4 Corporation
• Daintree Networks
• Digital Lumens, Inc.
• General Electric Company
• Honeywell International Inc.
• Legrand S.A.
• Leviton Manufacturing Co., Inc.
• Lutron Electronics Co., Inc.
• NXP Semiconductors NV
• OSRAM Licht AG
• Signify Holding (Philips Lighting)
• Zumtobel Group AG

For more information about this report visit https://www.researchandmarkets.com/r/s2xmcl