According to a new market research report “Smart Lighting Market by Component (Relays, Occupancy Sensors, Actuators, Transmitters, Receivers), Lighting Type (LED, FL, CFL, HID), Connectivity Technology (Wired, Wireless), Application (Commercial, Industrial, Public, Government, Residential) & Geography - Global Forecast & Analysis to 2014-2020" ,the smart lighting market is expected to grow at a CAGR of 15.8% from 2014 to 2020, and to reach $56.05 billion by 2020.
Browse 80 market data tables with 55 figures spread through 265 pages and in-depth TOC on "Smart Lighting Market”.
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Smart lighting relates to the lighting technology intended for energy efficiency with utilization of lighting control systems. In industrial, commercial as well as residential applications, lighting consumes around 40% of total energy cost. Hence the governments, industrialists, stakeholders are focusing on reducing the energy utilization by substituting traditional lighting with advanced energy-efficient lighting devices and technologies. Therefore, the demand for lighting control systems is increasing in a drastic way thereby, giving an exponential growth to the smart lighting industry. This report covers the” Global Smart Lighting Market” and all its market aspects with future opportunities, drivers, restraints and others in detail.
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The smart lighting industry involves the use of lighting control systems that deliver correct amount of light when needed. It deals with the technology where lights can automatically perform various operations at set times or under set conditions. It makes use of intelligent lighting control systems to intelligently control light, based on various parameters such as; occupancy, movement, color temperature, amount of natural/daylight and so on. The customers of lighting control systems apply a set of such lighting control strategies using specific technologies and methods to control consumption of light energy. Automated lighting control not only provides less expensive and more flexible lighting, but also monitors various tasks carried out by the users. The smart lighting market is growing in a remarkable way and the main factors driving this growth are the rising growth of Light Emitting Diode (LED), lighting in commercial modernization, rapid growth of street lighting systems, and expansion of this technology in smart cities. At present there are many companies launching new products in the market.
The smart lighting market is a growing market, which includes major components like relays, occupancy sensors, controllers, actuators, transmitters, receivers. In this report the overall smart lighting market is segmented on the basis of five major verticals- lighting type, lighting control components, connectivity technologies, application and geography. Lighting types like;light emitting diode (LED), fluorescent lamps (FL), compact fluorescent lamps (CFL), and high intensity discharge lamps (HID) and the applications of smart lighting in sectors like commercial and industrial, residential, outdoor lighting, public and government buildings and automobiles have been discussed in detail in the report.
The major players in this market include Acuity Brands, Inc. (U.S.), Legrand S.A (France), Lutron Electronics Company, Inc. (U.S) and Zumtobel AG (Austria). Several other acquisitions, mergers, new product launch, agreements and so on, have taken place recently and are discussed in the report.
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