Market Research Future: Smart Lighting Market to be Worth US$ 25 Bn by 2027-end

1
Smart Lighting Market to Grow at 27 CAGR to
Garner US 25 Bn by 2027
Industry Survey, Growth, Competitive
Landscapeand Forecasts to 2023
2
Smart Lighting Market

Market Overview In its research report, Market
Research Future (MRFR), emphasizes that the
global smart lighting market 2020 is slated to
grow exponentially over the review period,
securing a substantial market valuation of USD 25
Billion by 2027, and a healthy 27 CAGR over the
review period. Drivers and Restraints The new
lighting technologies developments allow smart
lighting providers to exploit new business
opportunities around the globe. Government
agencies in various countries are taking several
steps to build sustainable cities, and one of the
significant projects being pursued is the
implementation of sustainable lighting. The key
factors driving the smart lighting market's
growth are growing awareness of the environmental
benefits of energy efficiency, rising and
developing wireless communication technology, and
growing investment in, among others, the smart
home cities industry. Energy efficiency has
become highly significant and important thanks to
advanced technology and a increasing population.
As cities shifting across the world towards smart
city technology, the market is projected to see
rapid growth and hit an estimated USD 25 billion
by the end of 2027. However, factors such as high
construction costs, and lack of professional
experts impede the development of the market for
smart lighting. Get Free Sample Report
_at_ https//www.marketresearchfuture.com/sample_requ
est/960 Segmental Analysis The global smart
lighting market is segmented by type,
communication technology, light source, software
service, and application.  Based on the type
segment, the market comprises fixtures smart
bulbs, and lighting control. By the light source,
the market comprises a LED light source,
fluorescent light source, HID light source, and
another light source. By the communication
technology segment, the market comprises Wired
Communication Technologies and Wireless
Communication Technologies. By the software
service, the software is segmented into
smartphone applications and by service into
lighting as-a-service.  By the application, the
market is segmented into indoor and outdoor
lighting.
3
Smart Lighting Market

Regional Analysis The global business regional
analysis was conducted in four major regions
including Asia Pacific, North America, Europe and
the rest of the world. It is observed that in
2014, the European region dominated the global
smart lighting market, and is projected to hold
the same position in the coming years, led by the
North American market. North America, which shows
a similar growth trend, closely follows Europe.
All countries have advanced technologies and are
making strides in energy conservation. Meanwhile,
due to the accelerated growth of smart cities in
the region's developing markets, Asia Pacific is
the fastest growing market anywhere in the world.
Fueling the smart lighting market in this area is
the increased adoption of smart lighting systems
as an energy efficient lighting solution. Asia
Pacific area is projected to be the fastest
growing market because of increased use of smart
lighting, raw material supply and low labor
costs. Moreover, foreign players are drawing
attention to comparatively inexpensive labor and
high operating costs. There is also an abundance
of raw materials available to manufacture smart
lighting systems in the Area. The growth
potential available in the APAC area is expected
to encourage considerable market growth over the
forecast period. Competitive Analysis The major
market players operating in the global smart
lighting market as identified by MRFR are  Osram
GmbH (Germany), Lutron Electronics Co. Inc.
(U.S.), Daintree Networks (U.S.), Legrand S.A.
(France), Bridgelux (U.S.), Echelon Corporation
(U.S.), Koninklijke Philips N.V. (Netherland),
Streetlight Vision (France), Zumtobel (Austria),
and Honeywell (U.S) among others. ABB has
collaborated with Signify to introduce a new
range of smart light switches to go with
Signify's intelligent lighting systems and
provide seamless integration with Philips Hue, a
lighting company. Furthermore. Australia's
Sunshine Coast Council has contracted Telensa to
install its smart street lighting system, World.
The 24 month long project will see the area
implementing intelligent lighting for economic,
financial and social benefits. Get Complete
Report _at_ https//www.marketresearchfuture.com/repo
rts/global-smart-lighting-market-960
4
ABOUT US
MARKET RESEARCH FUTURE At Market Research Future
(MRFR), we enable our customers to unravel the
complexity of various industries through our
Cooked Research Report (CRR), Half-Cooked
Research Reports (HCRR), Raw Research Reports
(3R), Continuous-Feed Research (CFR), and Market
Research Consulting Services. MRFR team have
supreme objective to provide the optimum quality
market research and intelligence services to our
clients. Our market research studies by products,
services, technologies, applications, end users,
and market players for global, regional, and
country level market segments, enable our clients
to see more, know more, and do more, which help
to answer all their most important questions. In
order to stay updated with technology and work
process of the industry, MRFR often plans
conducts meet with the industry experts and
industrial visits for its research analyst
members. For more information kindly visit
www.marketresearchfuture.com or contact us at
info_at_marketresearchfuture.com Copyright 2018
Market Research Future All Rights Reserved. This
document contains highly confidential information
and is the sole property of Market Research
Future. No part of it may be circulated, copied,
quoted, or otherwise reproduced without the
written approval of Market Research Future.
5
(No Transcript)