Smart Lighting Market Projected to Garner Significant Revenues by 2018 - 2027 –end

Market Overview:

Smart lighting system is an innovative technology featured with automated controls that make adjustment of light based on occupancy and daylight availability for energy efficiency and cost saving. Lighting control system reduces energy consumption by switching off lights when not in use or dim the lights based on daylight availability owing to which energy is utilized in a better way. Global smart lighting market is expected to grow in the forecasted period, in 2018 market size of the smart lighting was XX million and in 2027 is expected to reach at XX million with growing CAGR of XX%.

Market Dynamics:

One of the major driver for the growth of smart lighting market is rising adoption of LED lights in various sectors such as residential, commercial and healthcare. Hospitals are installing led lights to create relaxing atmosphere, for instance, Hillerod Hospital in Denmark has installed smart LED lights along with audio system in the maternity ward which provides women peace of mind while giving birth and helps to reduce stress. However, higher cost of installation and limited awareness about payback of smart lighting devices can be a major restrains of the smart lighting market.

Enquiry More This Report: https://www.trendsmarketresearch.com/report/sample/3205

The rising need of efficient smart lighting systems and speedy development of sensor and wireless technology increasing demand for smart lighting solutions fordeveloping smart cities and street lighting could emerge as a huge growth opportunity for smart lighting market players. However, incompatible wireless solutions and high initial investment are expected to be a mojor threat to the growth of this market.

Market Players:

Acuity Brands, Inc., Lutron Electronics, co., Legrand SA, OsramLicht AG, Honeywell International Inc., Zumtobel AG, Royal Phillips N. V, Digital Lumens, Inc., IKEA and Streetlight Vision are some of the prominent players in the smart lighting market, these players such as Philips, Osram, and IKEA are using ZigBee wireless networking technology in their product offering. Similarly, other companies are also focusing on extracting street lighting contracts to gain competitive edge in the market.

Market Segmentation:

The smart lighting market is segmented on the basis of application, component, lighting type and regions.On the basis of applications the smart lighting market can be segmented into government and public, residential, industrial and commercial. The residential market is expected to grow in the forthcoming years as residents are investing in smart home.

Further, on the basis of lighting source the smart lighting market is divided into LED Lamps, high intensity discharge lamp, fluorescent lamp, compact fluorescent lamp and others. LED lamps are expected to dominate the market as LED lamps are energy efficient and durable.

Get Request for Toc: https://www.trendsmarketresearch.com/report/requesttoc/3205

Market segmented on the basis of application:

Government and Public
Commercial
Industrial
Residential
Others

Market segmented on the basis of components:

Relays
Controllable Breakers
Sensors
Switch Actuators
Dimmer Actuators
Others

Market segmented on the basis of lighting Type:

LED Lamps
Fluorescent Lamp
Compact Fluorescent Lamp
High Intensity Discharge Lamp
Others

Market segmented on the basis of region:

North America
• US
• Canada
• Mexico
Europe
• UK
• Germany
• France
• Rest of Europe
Asia-Pacific
• China
• Japan
• India
• Australia
• Rest of Asia-Pacific
Latin America
• Brazil
• Rest of Latin America
Middle East and Africa (MEA)
• South Africa
• Saudi Arabia
• Rest of MEA

Full View of Report Description: https://www.trendsmarketresearch.com/report/smart-lighting-market