Lucintel's latest market report analyzed that smart lighting provides attractive opportunities in the residential and commercial sector. The smart lighting market is expected to reach $21.7 billion by 2027 with a CAGR of 13%. In this market, control system is the largest segment by product. The growing demand for IoT technology in the smart lighting system and emergence of light fidelity (Li-Fi) technology in the field of smart lighting provides strategic growth path in this market.
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Based on product, the
smart lighting market is segmented into smart bulbs, fixtures, control systems.
The control systems segment is accounted for the largest share of the market in
2021 due to growth in home automation and to improve energy efficiency and smart
bulb is expected to register the highest CAGR during the forecast period supported
by growing demand for wireless technologies in smart cities.
Browse in-depth TOC on “Smart
Lighting Market”
108 – Tables
103 – Figures
195 – Pages
The smart lighting market
is marked by the presence of several big and small players. Some of the
prominent players offering smart lighting include CREE Inc, AMS, Signify N.V.,
Zumtobel Group, Savant Systems, Inc., SemiLEDs Corporation.
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to make confident business decisions in this globally competitive marketplace. For
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this link helpdesk@lucintel.com.
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
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Brandon Fitzgerald
Lucintel
Dallas,
Texas, USA
Email: brandon.fitzgerald@lucintel.com
Tel. 972.636.5056
Cell: 303.775.0751
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