The evolution of smart technology has changed the overall lighting industry w.r.t. energy and money-saving and improved the safety and convenience of the users. The global lighting market is growing at a significant rate and is expected to reach a substantial level by 2025. Moreover, 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% energy costs can be saved, enhancing the productivity and comfort of the user.
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
The global economy is expected to exhaust more energy resources in the future owing to the rising demand for energy from developing countries. Additionally, the risk of climate change associated with the use of fossil fuels has made the supply of energy increasingly difficult. Several countries such as the U.S., France, and China are opting for various methods in order to decrease the carbon dioxide concentration in the atmosphere.
The changing paradigm of the lighting industry to the electronics industry is a major opportunity for the growth of the smart lighting controls market. With the arrival of smart technologies in the lighting industry, various gateways have been opened for the companies of several industry verticals, such as control systems, dimmers, and software-based solutions and sensors. The scenario of the lighting industry has been completely transformed with the establishment of modern technologies in it. The smart lighting industry involves not only lamps, but also the sensors that gather and transfer the information. The information is then delivered to the software for generating a suitable response which could be dimming the illumination, change in color, and/or switching on or off.
According to the latest report, titled ‘Global Smart Lighting Market – Analysis and Forecast (2019-2025)’, the global smart lighting market generated revenue of $11,932.0 million in 2020 and is expected to reach to $34,500.0 million by 2025 at a CAGR of 23.1%.
Companies Mentioned in the Report:
• Acuity Brands Inc.
• ams AG
• CommScope Holding Company Inc.
• Control4 Corporation
• General Electric Company
• Honeywell International Inc.
• NXP Semiconductors NV
• OSRAM Licht AG
• Signify Holding (Philips Lighting)
• Zumtobel Group AG
• Daintree Networks
• Digital Lumens, Inc.
• Legrand S.A.
• Leviton Manufacturing Co., Inc.
• Lutron Electronics Co., Inc.
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?