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Global Demand and Revenue of Smart Lighting and Control Systems Market to Surpass USD 146 Billion By 2026: Facts & Factors

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Global Demand and Revenue of Smart Lighting and Control Systems Market to Surpass USD 146 Billion By 2026: Facts & Factors

July 26
22:00 2021
Global Demand and Revenue of Smart Lighting and Control Systems Market to Surpass USD 146 Billion By 2026: Facts & Factors
[179+ Pages Report] According to Facts and Factors Market Research, the global smart lighting and control systems market in 2019 was approximately USD 43.3 Billion. The market is expected to grow at a CAGR of 18.87% and is anticipated to reach around USD 146 Billion by 2026.

According to Facts and Factors Market Research, the global smart lighting and control systems market in 2019 was approximately USD 43.3 Billion. The market is expected to grow at a CAGR of 18.87% and is anticipated to reach around USD 146 Billion by 2026.

Smart lighting is an energy lighting technology that is handled by automated controls with having a high efficient function. Smart lighting and control systems are flexible to adjust setting the switching of light as per requirement moreover it is also used for controlling the intensity of light at different places according to needful requirement. The smart lighting and control systems don’t just help to save power but it also curtails the co2 emission in the atmosphere. Several bulbs and other light fixture manufacturers are flourishing in the smart lighting market by offering various control options such as Wi-Fi, Bluetooth, Zigbee, Hybrid, and Dali.

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As the government is strictly focusing on reducing the Co2 emission for better climate condition therefore smart lighting and control systems may witness growth in most polluted regions. Due to rising pollution worldwide each region is implementing new lighting laws every year. For example, the San Francisco public utilities commission has replaced nearly 18,500 streetlights with high efficiency LED lights due to this they have reduced energy consumption by 50%, energy cost, and also the efficiency of the environment. Furthermore, the transportation department of the USA has invested USD 165 Million in the smart city project by levering smart lights, meters, and sensors for improving road safety and simultaneously decreasing energy consumption. However, the high initial costs for systems and security concerns are anticipated to be restraining factors for the market. Whereas, high penetration of IoT devices may open up new avenues in the global smart lighting and control systems market.

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The arrangement of associated smart home systems and devices, as a rule, that relies upon constrained home region systems utilizes Bluetooth, WI-Fi or Near Field Communications (NFC) conventions. In spite of these conventions, they are liable to hacking from external sources on the other side, remote associations can be erratic on occasion and progressing maintenance is the issue hampering the general development of the market. Furthermore, the underlying establishment cost is likewise high, which is the first test in the enormous scale selection of brilliant lighting and control frameworks.

The smart lighting and control systems market research report delivers an acute valuation and taxonomy of the smart lighting and control systems industry by practically splitting the market on the basis of different types, applications, and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026. The regional segmentation of the smart lighting and control systems industry includes the complete classification of all the major continents including North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Further, country-wise data for the smart lighting and control systems industry is provided for the leading economies of the world.

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Surging adoption of the Internet of Things (IoT) in conjunction with smartphones in order to control smart lighting and control systems is anticipated to drive the market growth during the forecast period. The IoT market has grown significantly over the past few years and uplifted the demand for connected devices. The evolution of connected devices has also transformed the lighting solutions into a smarter one. For instance, the modern lighting solutions are based on the Light Emitting Devices (LED) technology that is equipped with advanced sensing and dynamic spectral light reproduction capabilities. Furthermore, these smart LEDs are supported with Wi-Fi gateways to easily connect with the system and control the switching mode of the devices from any place. Moreover, the government initiatives for the application of connected devices in the public administration sector such as street lighting control, waste management, and educational classroom management is one of the major factors contributing to the growth of the IoT devices in the smart lighting and control systems market.

The smart lighting and control system is categorized into lighting source, connectivity, and end-use. The lighting source is divided into three sources viz. fluorescent lamps, high-intensity discharge lamps, and light-emitting diodes. The connectivity segment is bifurcated into wired and wireless. The end-user segment of the smart lighting and control systems are residential, commercial, industrial, and government sectors. Asia Pacific, Europe, North America, Middle East & Africa, and Latin America are the major regions included in the market report. Further, countries such as China, Germany, UK, France, the U.S., Japan, Canada, India, South Korea, and Brazil are also covered in the analysis.

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This report segments the Smart Lighting and Control Systems market as follows:

Global Smart Lighting and Control Systems Market: By Lighting SourceSegmentation Analysis

  • Fluorescent Lamps
  • High-Intensity Discharge Lamps (HIDs)
  • Light Emitting Diodes (LEDs)

 

Global Smart Lighting and Control Systems Market: By ConnectivitySegmentation Analysis

  • Wired
  • Wireless

 

Global Smart Lighting and Control Systems Market: By End-User Segmentation Analysis

  • Residential
  • Commercial
  • Industrial
  • Government Sector

 

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