The Global Market for Smart Lighting is Projected to Exceed US$47 Billion by 2020

Rapid Penetration of LED Lighting Across the World Drives Smart Lighting Adoption, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Smart Lighting market. The global market for Smart Lighting is projected to exceed US$47 billion by 2020, driven by the rapid penetration of LED lighting that represents the perfect enabler for realization of the Smart Lighting revolution, and increasing focus on energy efficient building technologies.

The global lighting industry has come a long way from the on/off world to energy efficient lighting and adaptive lighting to the current connected lighting era. Although LED lighting introduced another energy-efficient light source, a real paradigm shift is expected in the lighting industry through digitization, making smart lighting one of the fastest growing segments of the gigantic ‘Internet of Things (IoT)’ phenomenon. Digitization is expected to impact all application segments including housing, retail, office spaces, and government infrastructure, among others. The connected lighting network accommodates a growing number of light points, application program interface (API), and developer interface that enable creation and addition of multiple value applications. Smart lighting is completely revolutionizing the way people and lighting systems interact with each other. Lighting systems integrated with smartphones and wireless switches are touch powered and offer the freedom to change, customize, and set millions of colors, and transform white light from warm through neutral to cold, among multiple other options.

Strong growth is projected for the smart lighting market in the coming years driven by the rapid penetration of LED lighting; increasing awareness in terms of energy efficiency and environmental issues; expected commercialization of Li-Fi, a wireless optical networking data transmission technology; and growing OLEDs penetration in architectural, industrial, and backlighting applications. Other important growth drivers include rising demand for green buildings, huge market potential offered by smart street lighting; recovery in the construction industry, rising popularity of smart wireless lighting controls, favorable government support focusing on sustainable and energy-efficient construction, and availability of technologically advanced and innovative smart lighting solutions. Also, huge opportunities exist for smart lighting in the retrofit segment as majority of the lighting systems in current buildings worldwide are not energy efficient. The catalytic role of smart lighting in accelerating innovation and adoption in home automation, and the enormous demand expected from smart homes and smart cities is also expected to benefit market expansion in the coming years.

As stated by the new market research report on Smart Lighting, Europe represents the largest market worldwide, followed by the United States. Rising deployments of smart lighting in commercial, infrastructural, automobile and industrial sectors; presence of several lighting majors; huge penchant for novel technologies; and stringent energy efficiency regulations, among others, represent key growth drivers in the developed markets. Asia-Pacific represents the fastest growing market worldwide with a projected CAGR of 21.2% over the analysis period, driven by massive adoption of energy-efficient smart lighting solutions in China. The commercial sector constitutes the largest end-use market driven by the effectiveness of smart lighting solutions in providing occupancy information as well as storing personal lighting choices as per individual preferences and tasking schedules thus facilitating energy savings and optimum facility management.

Key players covered in the report include Acuity Brands Lighting, Inc., ams AG, Bridgelux, Inc., Cree, Inc., Daintree Networks, Inc., Digital Lumens, Inc., Echelon Corporation, General Electric Company, Helvar, Hubbell Lighting Incorporated,   Koninklijke Philips N.V., Osram Licht AG, Schneider Electric SA, SELC Ireland Ltd., Streetlight Vision, Tvilight B.V, and Zumtobel Group AG, among others.

The research report titled “Smart Lighting: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, and Rest of Asia-Pacific), Latin America (Brazil, and Rest of Latin America), and Rest of World. Product/end-use segments analyzed in the report include Fixtures (Residential, Commercial, and Others), and Controls (Residential, Commercial, and Others).

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