Global Smart Lighting Market to 2028 - Share, Size, Trends, Industry Analysis Report - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Smart Lighting Market Share, Size, Trends, Industry Analysis Report, By Type, By Communication Technology, By Application, By Region; Segment Forecast, 2021 - 2028" report has been added to ResearchAndMarkets.com's offering.

The global smart lighting market size is expected to reach USD 38.56 billion by 2028 according to a new study. The report gives a detailed insight into the current market dynamics and provides analysis on future market growth.

The major factors accountable for the market growth include the rise in focus on integrating advanced communication technologies and lighting systems, the surging need for energy-efficient LED technology to replace inferior compact fluorescent or halogen lighting technologies, and significant steps undertook by the government and private organization towards intelligent infrastructure.

Further, intelligent lighting can be controlled via voice assistant technologies, such as Google Assistant, Apple's Siri, Microsoft's Cortana, or Amazon's Alexa. These broad ranges of features aside from illumination as well as growing demand for IoT devices and intelligent assistant platforms have created significant growth.

Based on the type segment, the motion-sensing lights segment is expected to witness considerable CAGR in the global industry during the foreseen period. The is due to the extensive adoption of intelligent home infrastructure projects, as it facilitates the end-users an improved level of security and reduces energy consumption by turning off lights automatically when no motion is identified.

Europe is accounting for the leading position in terms of market share worldwide, owing to the rapid rise in the adoption of intelligent and green lighting solutions due to growing concern towards environmental safety and the significant presence of intelligent lighting solution-based industry vendors in the region. Whereas Asia-Pacific is projected to register the highest growth rate/CAGR during the forecast period of 2021-2028.

Market Dynamics

Drivers and Opportunities

• Smart cities projects
• Innovations in the sector

Restraints and Challenges

• Procedural constraints

The publisher has segmented the smart lighting market report on the basis of type, communication technology, application, and region:

Smart Lighting, Type Outlook (Revenue - USD Million, 2016 - 2028)

• Smart Light Bulbs
• Smart Lights Connected with H- U.S
• Motion Sensing Lights

Smart Lighting, Communication Technology Outlook (Revenue - USD Million, 2016 - 2028)

• Wi-Fi
• Bluetooth
• Zig-bee
• Others

Smart Lighting, Application Outlook (Revenue - USD Million, 2016 - 2028)

• Residential
• Commercial
• Industrial

Smart Lighting, Regional Outlook (Revenue - USD Million, 2016 - 2028)

• North America
• U.S
• Canada
• Europe
• France
• Germany
• UK
• Italy
• Netherlands
• Spain
• Austria
• Asia Pacific
• China
• India
• Japan
• Malaysia
• South Korea
• Indonesia
• Latin America
• Mexico
• Brazil
• Argentina
• Middle East & Africa
• UAE
• Saudi Arabia
• Israel
• South Africa

Companies Mentioned

• Acuity Brands
• GE current
• Hafele GmbH & Co KG
• Helvar
• Honeywell International
• Ideal Industries
• Itron Inc.
• LG Electronics
• LightwaveRF
• Lutron Electronics Company
• Panasonic Corporation
• RAB Lighting Inc.
• Schneider Electric
• Sengled Optoelectronics
• Signify Holding
• Syska
• Verizon
• Wipro Consumer Lighting
• YEELIGHT
• Zumtobel group AG

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