The report "Smart Lighting Market by Connectivity Technologies (Wired & Wireless), End Users, Lighting Types (Fluorescent Lighting, LED Lamps, & Others), Components (Control & Communication, Luminaries & Fixtures), and Geography - Global Forecast to 2020", the total smart lighting market is expected to reach USD 8.14 Billion by 2020, growing at a CAGR of 22.07% between 2015 and 2020.
Browse 75 tables and 68 figures spread through 155 pages and in-depth TOC on "Smart Lighting Market - Global Forecast to 2020"
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The Smart lighting market exhibits a huge growth potential in the coming years. The total market for smart lighting is expected to reach USD 8.14 Billion by 2020, at a CAGR of 22.07% between 2015 and 2020. Smart lighting is redefining the lighting industry as it provides energy saving while increasing accessibility with ease of use. The demand for intelligent lighting controls for smart lighting is growing at a tremendous rate and the transition from conventional lighting to intelligent lighting systems would further boost the development of smart lighting systems in the next five years. The decreasing prices of energy-efficient lighting technologies, governments’ initiative of banning in-efficient lighting and the evolution of novel wireless technology are some major factors driving the development of smart lighting around the world.
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There is always a demand supply gap in the power sector and to overcome this problem smart lighting technologies gives a perfect solution. The demand for intelligent lighting controls for smart lighting is increasing in a tremendous way and this further supports the growth potential of smart lighting market. This report covers the “Global Smart Lighting market” and all its market aspects with future opportunities, drivers, restraints, and others in detail. In the report, the smart lighting markets is segmented on the basis of connectivity technologies, end users, lighting types, components, and geography and these segmentations have been discussed in detail, along with market size projections with qualitative as well as quantitative industry insights.
One of the objectives of the report was to analyze the market trends for each of the smart lighting market segments and their respective growth rates. Apart from the market segmentation, the report also covers in-depth analyses such as Porter’s five forces analysis, value chain with a detailed process flow diagram, and market dynamics such as drivers, restraints, opportunities, and challenges for the smart lighting market. The major driving factors for this market are government initiatives and mandates, long lifespan, and low energy consumption of intelligent lights for better productivity.
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The market size for the smart lighting market is included in the report for four geographical regions, namely, the North America, Europe, Asia-Pacific, and the Rest of the World (RoW). The European region is estimated to account for a major share in this market and the APAC region is expected to exhibit the fastest growth during the forecast period.
Moreover, it includes a competitive landscape of the key players in the smart lighting market with detailed market ranking analysis, mergers and acquisitions, collaborations, partnerships, new product developments, and the key growth strategies of each player. Some of the major players in this market are Koninklijke Philips N.V. (Netherland), Osram Gmbh (Germany), Acuity Brands Lighting, Inc. (U.S.), General Electric Company (U.S.) among others.
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