Global Smart Lighting Market Recent Study Including Growth Factors CAGR of 22.1%

Posted by ganesha on February 22nd, 2020

The Smart Lighting Market research report is a stunning aide for an imperative thought, improved fundamental authority and better business frameworks. The report joins estimations of the ongoing state of the market, CAGR values, market size and overall industry share, income age and significant changes required later on items. The Smart Lighting Market report has information and data as graphs, tables and outlines that can be adequately understood by the associations. The market thinks about, bits of learning and investigation joined into this overall Smart Lighting Market report keeps business focus indisputably into the concentration with which you can reach to the business objectives.

Market Analysis:

Global Smart Lighting Market is expected to reach million by 2026 and is projected to register a healthy CAGR of 22.1% in the forecast period of 2019 to 2026.

Influencing players of this market are:

Some of the major players operating in this market Philips Lighting Holding B.V. , Acuity Brands Lighting, Inc. , Hafele, Honeywell International Inc., Cree, Inc. , Digital Lumens, Inc., OSRAM GmbH., Lutron Electronics Co., Inc, Legrand SA, Seiko Epson Corporation, Encelium technologies, Virtual Extension,  Zumtobel Group AG, Wipro Consumer Care & Lighting, Schneider Electric SE,  Eaton, Leviton Manufacturing Co., Inc., Syska LED and Beam Labs B.V.and among others.

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This Smart Lighting Market report consolidates comprehensive industry examination with exact data and conjectures that offers total research arrangements and brings the most extreme industry clarity for decision making.

Analysis based on various segments-:

This analysis gives an examination of various segments that are relied upon to witness the quickest development amid the estimated forecast frame.

And this is done on the basis of-:

Global smart lighting market is segmented into four notable segments which are offering, installation type, communication technology and application type.

• On the basis of offering, the market is segmented into hardware, software and services. The hardware is sub- segmented into lights & luminaires, relay units and lighting controls. The lights & luminaires is further sub- segmented into smart bulbs and fixtures. The smart bulbs again sub-segmented into fluorescent lamps (FL) and compact fluorescent lamps (CFL). The lighting controls is sub-segmented into switches & dimmers, LED drivers, sensors and gateways. The switches & dimmers are further sub-segmented into switches, 2manual switches and dimmers. The switches are further sub-segmented into electronic switches. The dimmers are further sub-segmented into wired dimmers and wireless dimmers. The software is sub-segmented into cloud based and local/web-based. The services are sub-segmented into installation services, design & engineering and post-installation services. In 2019, hardware segment is growing at the highest CAGR and expected to reach USD million in the forecast period of 2019 to 2026.
  • Hardware segment is expected to dominate the global smart lighting market due to the increase in the application of LED lighting products such are bulbs, luminaires and lamps for indoor and outdoor spaces as well as rising awareness regarding energy consumption in LED lighting.
• On the basis of installation type, the market is segmented into new installation and retrofit installation. In 2019, retrofit installation segment is growing at the highest CAGR and expected to reach USD in the forecast period of 2019 to 2026.
  • Retrofit installation segment is expected to dominate the global smart lighting market due to its low installation cost as compared to new fixtures.
• On the basis of communication technology, the market is segmented into wired technology and wireless technology. The wired technology is sub-segmented into power-line communication, wired hybrid protocols, digital addressable lighting interface and power over Ethernet. The wireless technology is sub-segmented into ZIGBEE, Bluetooth, Wi-Fi, wireless hybrid protocols, EnOcean and 6lowpan. In 2019, wired technologies are growing at the highest CAGR of in the forecast period of 2019 to 2026.
  • Wired technology is augmenting the maximum share as it is considered to be 20% - 30% less expensive than their wireless along with reduced energy consumption. Wireless technology is expected to grow with the highest CAGR in the forecasting period due to increasing accessibility of open source software and advancement in wireless technologies and rising demand of wireless smart lighting systems for both building and home automation.
• On the basis of application type, the market is segmented into outdoor application and indoor application. The outdoor application is sub-segmented into roadways & highways, public places and architectural. The indoor application is sub-segmented into commercial, residential and industrial. The roadway & highway is sub-segmented into street & roadways, highways and tunnels & bridges. The commercial is sub-segmented into office lighting, projection lighting, retail and hospitality. In 2019, residential segment is growing at the highest CAGR in the forecast period of 2019 to 2026.
  • Residential segment is expected to dominate the global smart lighting market due to the increase in the application of lighting control system at homes and workplaces. These are cost saving and helps in reduced energy consumption along with productivity maximization. Wireless technology is expected to grow with the highest CAGR in the forecasting period due to increase in usage of smart lighting in many residential areas which mostly utilizes wireless technology lighting solutions such as smartphone using Wi-Fi, Bluetooth, Z-Wave, and even wireless radio for better connectivity and easy to access.

Regional Insights-

Regional analysis helps the market players to take an exhaustive assessment of the Smart Lighting Market region wise so that it becomes easy for them to distinguish and investigate the developing pattern and hidden opportunities all over the world.

The Smart Lighting Market covers regions such as- South America, North America, Europe, Asia-Pacific, Middle East, and Africa.

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Analysis based on Competition-:

The Smart Lighting Market report presents profiles of key market players and information about different techniques they have utilized, for example, new product dispatches, extensions, understandings, joint endeavors, associations, acquisitions, and others to expand their impressions in this market so as to continue in long run.

Key queries addressed in this report-:

• What will be the market size and market share in the upcoming future?
• What are the new and hidden opportunities in the market?
• Who are the top players in market?
• How the challenge goes later on?
• Which are the main regions impacting the market growth?
• What are the difficulties in future?

Key Issues addressed here-:

• Uncertainty of upcoming revenue pockets and growth areas.
• Understanding business sector sentiments.
• Understanding the most dependable venture focuses.
• Competitiveness of Top industry players
• Trending factors which are impacting the market growth.
• Challenges and threats faced by the leading players

Research strategies and tools used-:

This Smart Lighting Market research report helps the readers to know about the overall market scenario, strategy to further decide on this market project. It utilizes SWOT analysis, Porter’s Five Forces Analysis and PEST analysis.

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