The global smart lighting market was valued at USD 8.56 billion in 2018 and is expected to reach USD 38.9 billion in 2026, growing at a CAGR of 20.8% during the forecast period.
Smart-lighting is a technology designed for the efficient use of light resources with power-saving fixtures and automated controls. Smart lighting enables users to adjust the lighting effect which ensures lower energy usage and high-cost savings.
Smart Lighting Market Segmentation |
|
| By Offering | 1. Hardware |
| 2. Software | |
| 3. Services | |
| By Communication Technology | 1. Wired Technology |
| 2. Wireless Technology | |
| By Installation Type | 1. New Installation |
| 2. Retrofit Installation | |
| By Application | 1. Indoor Application |
| 2. Outdoor Application | |
| By Region | 1. North America (US and Canada) |
| 2. Europe (UK, Germany, France and Rest of Europe) | |
| 3. Asia Pacific (China, Japan, India and Rest of Asia Pacific) | |
| 4. Latin America (Brazil, Mexico and Rest of Latin America) | |
The growth of the smart lighting market is primarily driven by supportive government initiatives pertaining to energy-efficient lighting and growing awareness of energy consumption and green lighting. Moreover, rising demand for the development of infrastructure to transform cities into smart cities and developing wireless technology for street lighting systems in emerging countries also drives the growth of the global smart lighting market. On the other hand, high initial costs and lack of awareness about the advantages of smart lighting is creating a major hindrance for its market growth. However, the continuous development of wireless communication technology for smart lighting systems and developing IoT technology for smart lighting is expected to create major growth opportunities during the forecast period.
The services segment expected to grow at the fastest rate of 27% CAGR during the forecast period
Based on offering, the global smart lighting market has been segmented into hardware, software, and services. The services segment expected to grow at the fastest rate of 27% CAGR during the forecast period. The services of smart lighting are engineering services, design, installation service, and maintenance services. These services are necessary to reduce the overall costs of smart lighting and help enhance the performance of the lighting infrastructure. The increase in demand for smart street lighting for energy consumption and ecological safety further grows the demand for smart lighting services market during the forecast period.
The wireless technology segment expected to grow at the fastest rate of 32% CAGR during the forecast period
Based on communication technology, the market has been segmented into wired technology and wireless technology. The wireless technology is expected to register the highest CAGR, due to an increase in connectivity options, enhance operational efficiency, and reduce the use of wires, and suitable for any application. Moreover, continues development of wireless communication technology such as Wi-Fi, Bluetooth, IoT, and EnOcean is expected to further grow the demand for wireless technology during the forecast period.
Based on application, the indoor application segment is expected to lead during the forecast period
Based on application, the market has been segmented into indoor application and outdoor application. The indoor application segment predicted to own nearly 85% in the market in 2018. Owing to its low maintenance costs, energy-efficient, and enhanced appearance of the smart lighting systems in comparison with its conventional lighting systems further grows the demand for indoor applications. Again, major manufacturers of smart lighting are developing the wireless technology for LEDs further expected to increase the demand for indoor applications during the forecast period.
Based on installation type, the new installation segment is expected to lead during the forecast period
Based on installation type, the market has been segmented into new installation and retrofit installation. In 2018, the new installation segment register for the largest market share in terms of value in the global smart lighting market. New installation completely changes the fixtures and installations of lighting unlike in retrofit lighting which usually replaces and repair only lighting control and management system. Moreover, growing infrastructure development and rising construction sector further grows the commercial and residential sector is expected to increase the demand for new installations during the forecast period.
North America to dominate the smart lighting market throughout the forecast period
North America accounted for nearly 42% share of the global smart lighting market in 2018 and is expected to dominate the market throughout the forecast period followed by Europe and Asia-Pacific. Smart city development programs and growing awareness towards energy-efficient lighting and supportive government initiatives towards smart lighting in the North America region is one of the key factors driving the consumption of smart lighting in this region. Moreover, the growth of construction and infrastructure development in key countries such as the US and Canada are also propelling the growth of smart lighting in the North America region. Moreover, Asia-Pacific accounted for the highest CAGR in the global smart lighting market during the forecast period.
Company Profiles and Competitive Intelligence:
The major players operating in the global smart lighting market are Osram GmbH (Germany), Koninklijke Philips N.V. (Netherland), Legrand S.A. (France), GE (US), Lutron Electronics Co. Inc. (U.S.), Cree, Inc. (U.S.), Silicon Laboratories (US), Eaton (Ireland), Honeywell International Inc. (US), and Acuity Brands (US) among others.
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TABLE OF CONTENT
Chapter 1 Executive Summary
1.1. Market Summary
1.1.1. Global Smart Lighting Market, 2016-2026, (USD Million)
1.2. Market Snapshot: Global Smart Lighting Market
1.3. Market Dynamics
1.4. Global Smart Lighting Market, by Segment, 2018
1.4.1. Global Smart Lighting Market, by Offering, 2018, (USD Million)
1.4.2. Global Smart Lighting Market, by Communication Technology, 2018, (USD Million)
1.4.3. Global Smart Lighting Market, by Installation Type, 2018, (USD Million)
1.4.4. Global Smart Lighting Market, by Application, 2018, (USD Million)
1.4.5. Global Smart Lighting Market, by Region, 2018 (USD Million)
1.5. Premium Insights
1.5.1. Smart Lighting Market In Developed Vs. Developing Economies, 2018 vs 2026
1.5.2. Global Smart Lighting Market: Regional Life Cycle Analysis
Chapter 2 Market Dynamics
2.1. Market Overview
2.2. Market Drivers
2.2.1. Supportive government initiatives pertaining to energy efficient lighting
2.2.2. Growing awareness towards energy consumption and green lighting
2.3. Market Restraints
2.3.1. High initial costs
2.3.2. Lack of awareness about advantages of smart lighting
2.4. Market Opportunities
2.4.1. Continuous development wireless communication technology for smart lighting systems
2.5. Industry Value Chain Analysis
2.6. Pricing Analysis
2.7. Porter’s Five Forces Analysis
Chapter 3 Global Smart Lighting Market, by Offering
3.1. Market Overview, by Offering
3.1.1. Global Smart Lighting Market, by Country, 2016-2026 (USD Million)
3.1.2. Incremental Opportunity, by Offering, 2018
3.2. Hardware
3.2.1. Global Smart Lighting Market, by Hardware, 2016-2026, (USD Million)
3.3. Software
3.3.1. Global Smart Lighting Market, by Software, 2016-2026, (USD Million)
3.4. Services
3.4.1. Global Smart Lighting Market, by Services, 2016-2026, (USD Million)
Chapter 4 Global Smart Lighting Market, by Communication Technology
4.1. Market Overview, by Communication Technology
4.1.1. Global Smart Lighting Market, by Communication Technology, 2016-2026 (USD Million)
4.1.2. Incremental Opportunity, by Communication Technology, 2018
4.2. Wired Technology
4.2.1. Global Smart Lighting Market, by Wired Technology, 2016-2026, (USD Million)
4.3. Wireless Technology
4.3.1. Global Smart Lighting Market, by Wireless Technology, 2016-2026, (USD Million)
Chapter 5 Global Smart Lighting Market, by Installation Type
5.1. Market Overview, by Installation Type
5.1.1. Global Smart Lighting Market, by Installation Type, 2016-2026 (USD Million)
5.1.2. Incremental Opportunity, by Installation Type, 2018
5.2. New Installation
5.2.1. Global Smart Lighting Market, by New Installation, 2016-2026, (USD Million)
5.3. Retrofit Installation
5.3.1. Global Smart Lighting Market, by Retrofit Installation, 2016-2026, (USD Million)
Chapter 6 Global Smart Lighting Market, by Application
6.1. Market Overview, by Application
6.1.1. Global Smart Lighting Market, by Application, 2016-2026 (USD Million)
6.1.2. Incremental Opportunity, by Application, 2018
6.2. Indoor Application
6.2.1. Global Smart Lighting Market, by Indoor Application, 2016-2026, (USD Million)
6.3. Outdoor Application
6.3.1. Global Smart Lighting Market, by Outdoor Application, 2016-2026, (USD Million)
Chapter 7 Global Smart Lighting Market, by Region
7.1. Market Overview, by Region
7.1.1. Global Smart Lighting Market, by Region, 2016-2026, (USD Million)
7.2. Attractive Investment Opportunity, by Region, 2018
7.3. North America Smart Lighting Market
7.3.1. North America Smart Lighting Market, by Offering, 2016-2026 (USD Million)
7.3.2. North America Smart Lighting Market, by Communication Technology, 2016-2026 (USD Million)
7.3.3. North America Smart Lighting Market, by Installation Type, 2016-2026 (USD Million)
7.3.4. North America Smart Lighting Market, by Application, 2016-2026 (USD Million)
7.3.5. United States Smart Lighting Market, 2016-2026 (USD Million)
7.3.6. Canada Smart Lighting Market, 2016-2026 (USD Million)
7.4. Europe Smart Lighting Market
7.4.1. Europe Smart Lighting Market, by Offering, 2016-2026 (USD Million)
7.4.2. Europe Smart Lighting Market, by Communication Technology, 2016-2026 (USD Million)
7.4.3. Europe Smart Lighting Market, by Installation Type, 2016-2026 (USD Million)
7.4.4. Europe Smart Lighting Market, by Application, 2016-2026 (USD Million)
7.4.5. United Kingdom Smart Lighting Market, 2016-2026 (USD Million)
7.4.6. Germany Smart Lighting Market, 2016-2026 (USD Million)
7.4.7. France Smart Lighting Market, 2016-2026 (USD Million)
7.4.8. Rest of Europe Smart Lighting Market, 2016-2026 (USD Million)
7.5. Asia Pacific Smart Lighting Market
7.5.1. Asia Pacific Smart Lighting Market, by Offering, 2016-2026 (USD Million)
7.5.2. Asia Pacific Smart Lighting Market, by Communication Technology, 2016-2026 (USD Million)
7.5.3. Asia Pacific Smart Lighting Market, by Installation Type, 2016-2026 (USD Million)
7.5.4. Asia Pacific Smart Lighting Market, by Application, 2016-2026 (USD Million)
7.5.5. China Smart Lighting Market, 2016-2026 (USD Million)
7.5.6. Japan Smart Lighting Market, 2016-2026 (USD Million)
7.5.7. India Smart Lighting Market, 2016-2026 (USD Million)
7.5.8. Rest of Asia Pacific Smart Lighting Market, 2016-2026 (USD Million)
7.6. Latin America Smart Lighting Market
7.6.1. Latin America Smart Lighting Market, by Offering, 2016-2026 (USD Million)
7.6.2. Latin America Smart Lighting Market, by Communication Technology, 2016-2026 (USD Million)
7.6.3. Latin America Smart Lighting Market, by Installation Type, 2016-2026 (USD Million)
7.6.4. Latin America Smart Lighting Market, by Application, 2016-2026 (USD Million)
7.6.5. Brazil Smart Lighting Market, 2016-2026 (USD Million)
7.6.6. Mexico Smart Lighting Market, 2016-2026 (USD Million)
7.6.7. Rest of Latin America Smart Lighting Market, 2016-2026 (USD Million)
7.7. Middle East & Africa Smart Lighting Market
7.7.1. Middle East & Africa Smart Lighting Market, by Offering, 2016-2026 (USD Million)
7.7.2. Middle East & Africa Smart Lighting Market, by Communication Technology, 2016-2026 (USD Million)
7.7.3. Middle East & Africa Smart Lighting Market, by Installation Type, 2016-2026 (USD Million)
7.7.4. Middle East & Africa Smart Lighting Market, by Application, 2016-2026 (USD Million)
7.7.5. GCC Smart Lighting Market, 2016-2026 (USD Million)
7.7.6. Rest of Middle East & Africa Smart Lighting Market, 2016-2026 (USD Million)
Chapter 8 Competitive Intelligence
8.1. Top 5 Players Comparison
8.2. Market Positioning of Key Players, 2018
8.3. Market Players Mapping
8.3.1. By Offering
8.3.2. By Communication Technology
8.3.3. By Installation Type
8.3.4. By Application
8.3.5. By Region
8.4. Strategies Adopted by Key Market Players
8.5. Recent Developments in the Market
8.5.1. Mergers & Acquisitions, Partnership, New Product Developments
Chapter 9 Company Profiles
9.1. Osram GmbH
9.1.1. Osram GmbH Overview
9.1.2. Osram GmbH Offerings Portfolio
9.1.3. Osram GmbH Financial Overview
9.1.4. Osram GmbH News/Recent Developments
9.2. Koninklijke Philips N.V.
9.2.1. Koninklijke Philips N.V. Overview
9.2.2. Koninklijke Philips N.V. Offerings Portfolio
9.2.3. Koninklijke Philips N.V. Financial Overview
9.2.4. Koninklijke Philips N.V. News/Recent Developments
9.3. LEGRAND S.A.
9.3.1. LEGRAND S.A. Overview
9.3.2. LEGRAND S.A. Offerings Portfolio
9.3.3. LEGRAND S.A. Financial Overview
9.3.4. LEGRAND S.A. News/Recent Developments
9.4. GE
9.4.1. GE Overview
9.4.2. GE Offerings Portfolio
9.4.3. GE Financial Overview
9.4.4. GE News/Recent Developments
9.5. Lutron Electronics Co. Inc.
9.5.1. Lutron Electronics Co. Inc. Overview
9.5.2. Lutron Electronics Co. Inc. Offerings Portfolio
9.5.3. Lutron Electronics Co. Inc. Financial Overview
9.5.4. Lutron Electronics Co. Inc. News/Recent Developments
9.6. Cree, Inc.
9.6.1. Cree, Inc. Overview
9.6.2. Cree, Inc. Offerings Portfolio
9.6.3. Cree, Inc. Financial Overview
9.6.4. Cree, Inc. News/Recent Developments
9.7. Silicon Laboratories
9.7.1. Silicon Laboratories Overview
9.7.2. Silicon Laboratories Offerings Portfolio
9.7.3. Silicon Laboratories Financial Overview
9.7.4. Silicon Laboratories News/Recent Developments
9.8. Eaton
9.8.1. Eaton Overview
9.8.2. Eaton Offerings Portfolio
9.8.3. Eaton Financial Overview
9.8.4. Eaton News/Recent Developments
9.9. Honeywell International Inc.
9.9.1. Honeywell International Inc. Overview
9.9.2. Honeywell International Inc. Offerings Portfolio
9.9.3. Honeywell International Inc. Financial Overview
9.9.4. Honeywell International Inc. News/Recent Developments
9.10. Acuity Brands
9.10.1. Acuity Brands Overview
9.10.2. Acuity Brands Offerings Portfolio
9.10.3. Acuity Brands Financial Overview
9.10.4. Acuity Brands News/Recent Developments
Chapter 10 Preface
10.1. Data Triangulation
10.2. Research Methodology
10.2.1. Phase I – Secondary Research
10.2.2. Phase II – Primary Research
10.2.3. Phase III – Expert Panel Review
10.2.4. Approach Adopted
10.2.4.1. Top-Down Approach
10.2.4.2. Bottom-Up Approach
10.2.5. Supply- Demand side
10.2.6. Breakup of the Primary Profiles
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