According to a new market report published by Lucintel,
the future of the smart lighting market looks promising with opportunities in
the residential and commercial sectors. The global smart lighting market is expected
to reach an estimated $17.7 billion by 2022 and is forecast to grow at a CAGR
of 23.9% from 2017 to 2022. The major drivers of growth for this market are development
of smart cities, increasing usage of wireless technology, and increasing
awareness of energy saving.
In this market, smart bulbs, fixtures, and
control systems, such as ballasts, switches & dimmer actuators, sensors,
microcontrollers, and transmitters are used for smart lighting. Lucintel
forecasts that the control system is expected to remain the largest segment due
to growth in home automation and to improve energy efficiency. Lucintel predicts
that the demand for smart bulbs is likely to experience the highest growth in
the forecast period supported by growing demand for wireless technologies in
smart cities.
Within the smart lighting market, light emitting diodes (LEDs) are expected to
remain the largest market and are expected to witness the highest growth over
the forecast period. Declining cost of LEDs, low maintenance, and high energy
efficiency are expected to spur the growth of this segment over the forecast
period.
Europe is expected to remain the largest
market due to increasing standard of living and increasing building automation
in Germany, France, and United Kingdom.
Asia Pacific is expected to witness the highest
growth over the forecast period because of increasing government focus towards
the growth in infrastructure and development of smart homes in China and India.
For business expansion, the report suggests
innovation and new product development to application portability profile (APP)
based control lighting by using a smartphone or tablet (iOS or Android).
Emerging
trends, which have a direct impact on the dynamics of the industry, include growing
demand for Internet of things (IoT) technology and emergence of light fidelity
(Li-Fi) technology in the field of smart lighting market. Philips Lighting,
Osram Licht AG, Zumtobel Group, CREE Inc, General Electric Company, Digital
Lumens, SemiLEDs Corporation, Schneider Electric SE are among the major smart
lighting manufacturers.
Lucintel, a
leading global strategic consulting and market research firm, has analyzed growth opportunities in the
global smart lighting market by product type, light source, communication
technology, application, and region and has come up with a comprehensive
research report entitled “Global
Smart Lighting Market 2017-2022: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a spring
board for growth strategy as it provides a comprehensive data and analysis on
trends, key drivers, and directions. The study includes a forecast for the
global smart lighting market by product types, light source, communication
technology, application, and region as follows:
By product type [$M shipment analysis for 2011
– 2022]:
·
Smart Bulbs
·
Fixtures
·
Control Systems
– Drivers
and ballasts
– Switches
and dimmers actuators
– Sensors
– Microcontrollers
– Transmitters
and receivers
By Light
Source [$M shipment analysis for 2011 – 2022]:
·
Light Emitting Diode
·
Fluorescent Lamps
·
High-Intensity Discharge Lamps
·
Others
By Communication
Technology [$M shipment analysis for 2011 – 2022]:
·
Wired
– Digital
Addressable Lighting Interface
– Powerline
Communication
– Power
Over Ethernet
– Wired
Hybrid Protocols
– Others
·
Wireless
– Zigbee
– Bluetooth
– Enocean
– Wi-Fi
– Others
By Application
[$M shipment analysis for 2011 – 2022]:
·
Indoor Lighting
– Commercial
– Industrial
– Residential
– Others
·
Outdoor Lighting
– Highway
& Roadway Lighting
– Architectural
Lighting
– Lighting
for Public Place
– Others
By Region [$M shipment analysis for 2011 – 2022]:
·
North America
·
Europe
·
Asia Pacific
·
Rest of World
This
145-page research report will enable you to make confident business decisions
in this globally competitive marketplace. For a detailed table of contents,
contact Lucintel at +1-972-636-5056 or helpdesk@lucintel.com. Lucintel
offerings include Telecommunication
Report, Telecommunication
Market Report, Opportunity Screening and Analysis, Capital Investment Feasibility and SWOT
Matrix.
About
Lucintel
Lucintel,
the premier global management consulting and market research firm, creates
winning strategies for growth. It offers market assessments, competitive
analysis, opportunity analysis, growth consulting, M&A, and due diligence
services to executives and key decision-makers in a variety of industries. For
further information, visit www.lucintel.com.
This
report answers following 11 key questions:
Q.1 What are some of the most promising potential,
high-growth opportunities for the global smart lighting market by products
(smart bulbs, fixtures, control systems), by light source (light emitting
diode, fluorescent lamps, high-intensity discharge lamps, and others), by
application (indoor lights and outdoor lights), by communication technology
(wired and wireless) and by region (North America, Europe, Asia Pacific, and
the Rest of the World)?
Q. 2 Which segments will grow at a faster pace
and why?
Q.3 Which regions will grow at a faster pace
and why?
Q.4 What are the key factors affecting market
dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to
the market?
Q.6 What are emerging trends in this market
and the reasons behind them?
Q.7 What are some changing demands of
customers in the market?
Q.8 What are the new developments in the
market? Which companies are leading these developments?
Q.9 Who are the major players in this market?
What strategic initiatives are being implemented by key players for business
growth?
Q.10 What are some of the competitive products
and processes in this area and how big of a threat do they pose for loss of
market share via materials / product substitution
Q.11 What M & A activities have occurred in
the last 5 years in this market?
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