Brighten Your Expertise: Smart Lighting Market Insights

In a recent research report titled "Smart Lighting Market - Global Analysis and Forecast to 2025," published by The Insight Partners, it was revealed that the global smart lighting market is poised for substantial growth. The market is expected to reach a total valuation of US$ 51.05 billion by 2025, with a remarkable CAGR of 17.1% projected during the forecast period spanning 2016 to 2025.

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As of 2015, Europe stood out as the dominant player in the smart lighting market, capturing over one-third of the total market share. North America followed closely behind in terms of market share.

During the forecast period, North America is expected to experience incremental growth. The United States, in particular, emerges as a significant consumer of smart lighting technology, driven by increasing awareness among users regarding energy conservation. The demand for smart lighting systems is on the rise to meet the growing energy needs of countries as their populations expand. LEDs, due to their energy efficiency, have become an integral component of smart lighting systems.

Manufacturers of smart lighting components are actively working on solutions that simplify the control of light fixtures and the adjustment of light colors through mobile devices and computers. Although such control products are already available in the market, companies like semiconductor firm Marvell and LED manufacturer Bridgelux are striving to reduce costs for commercial and consumer lighting applications.

Different regions around the world present unique dynamics within the smart lighting market. Currently, various events and conferences are being held globally to promote awareness of smart lighting. These gatherings serve as platforms to explore new opportunities and innovations in the smart lighting industry, attracting participation from companies across the globe.

Europe and North America, in particular, have a high concentration of companies collaborating to encourage the active involvement of developing economies in this market. Over the past few years, countries like the USA, UK, Germany, and France have made substantial strides in adopting smart lighting, resulting in reduced energy consumption and improved safety on roads and in public spaces. Meanwhile, the Asia Pacific region is anticipated to witness substantial demand growth due to its rapidly growing economies, including China, Japan, Singapore, Indonesia, India, and Australia. This growth positions Asia Pacific as a strong contender, competing with the established economies of North America and Europe.

The smart lighting market is segmented based on applications, including industrial lighting, residential lighting, government, automotive lighting, and outdoor lighting. The industrial segment is expected to claim a significant market share during the forecast period. With the urbanization trend, industrial spaces are undergoing significant transformations, focusing on creating safe and user-friendly environments. Offices are increasingly adopting technologies that not only adjust light intensity but also provide real-time information such as occupancy data, weather forecasts, and vacancy detection.

Key findings from the study include:

The Middle East and Africa (MEA) region are expected to exhibit high Year-over-Year (Y-o-Y) growth, registering a CAGR of 24.4% in the smart lighting market.

In terms of connecting technology, wireless technology is poised to dominate the market during the forecast period.

China, in the Asia-Pacific region, is witnessing strong demand for smart lighting due to increasing government initiatives.

Europe maintains its leadership in the smart lighting technology market, with European lighting industries leading in lighting system technology and Human-Centric Lighting. European cities that have embraced Solid State Lighting based on LEDs report improvements in lighting efficiency, energy savings, and significant cost reductions. Solid State Lighting has matured enough to justify comprehensive business cases grounded in Total Cost of Ownership, enabling innovative lighting solutions that enhance cultural aesthetics and promote citizen safety and well-being.

Key companies profiled in the report include Acuity Brands Lighting Inc., Daintree Networks, Inc., Digital Lumens, Inc., Eaton Corporation Plc, General Electric, Legrand SA, Lutron Electronics, Inc., OSRAM GmbH, Koninklijke Philips N.V., and Sensity Systems, Inc.

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If you have any queries about this report or if you would like further information, please contact us:

Contact Person: Ankit Mathur
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876

About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

This release was published on openPR.