Smart Lighting Market

Smart lighting systems can be simple, point-to-point systems, or complex, interconnected networks. They are versatile and can be used for any size project. Moreover, they can be connected to each other via various communication channels and protocols. There are many benefits of smart lighting for both the end-user and the environment. There are two main types of smart lighting: smart bulbs and smart switches. A good smart lighting setup will probably include both components. However, it's important to keep in mind that it can be dangerous to install smart bulbs on smart switches. The best option is to invest in a smart home platform which can control all lighting.

Market Dynamics:

The growing demand for smart lighting systems is prompting industry players to invest in R&D and develop new products. For instance, smart lighting software applications enable consumers to control lights from their smartphones and tablets. The software applications are also connected to smart platforms and allow users to create a customized ambient ambience. Furthermore, these software applications also help in data collection in smart cities. Thus, these factors are expected to fuel growth of the global smart lighting market over the forecast period.

However, factors such as reliability and security issues with IoT-based lighting systems, high initial costs of lighting accessories and equipment are expected to limit growth of the global smart lighting market over the forecast period.

Key features of the study:

• This report provides in-depth analysis of the global smart lighting market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2022–2030), considering 2021 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global smart lighting market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include LG Electronics, Control4 Corp., Eve Systems GmbH, Lutron Electronics Co. Inc., Awox SA, Signify Holdings, Insteon (Smartlabs Inc.), Wyze Labs Inc., Crestron Electronics Inc., Sengled USA Inc., Cooper Lighting Solutions, General Electric Company, Wiz Connected Lighting Co. Ltd., and IKEA Systems BV.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• The global smart lighting market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global smart lighting market

Detailed Segmentation:

• Global Smart Lighting Market By Product Type:
  • Control Systems
  • Smart Lamps and Fixtures
• Global Smart Lighting Market By Geography:
  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa
• Company Profiles:
  • Control4 Corp.
  • Lutron Electronics Co. Inc.
  • Signify Holdings
  • Wyze Labs Inc.
  • Sengled USA Inc.
  • General Electric Company
  • IKEA Systems BV
  • Wiz Connected Lighting Co. Ltd
  • Cooper Lighting Solutions
  • Crestron Electronics Inc.
  • Insteon (Smartlabs Inc.)
  • Awox SA
  • Eve Systems GmbH
  • LG Electronics