Global Outdoor LED Smart Lighting Solution Market
Global Outdoor LED Smart Lighting Solution Market size was US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027, at a CAGR of XX% during forecast period.
Smart lighting is a lighting technology designed for efficient energy use. Smart lighting is used to reduce the amount of energy required to provide products and services. Light Emitting Diode (LED) is the most energy efficient light in the market.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Low cost and efficient working associated with LED smart lighting is major driving factor behind the growth of market. LED smart lighting offers long lifespan and they produce very high quality light with a wide range of characteristics. Also it provides some benefits such as high brightness and intensity, exceptional colour range, low radiated heat, reliability, instantaneous illumination and directional lighting, which ultimately leading to the growth of market. Increasing concerns regarding public safety, home safety and high adoption of IoT based smart lighting technologies are expected to drive the market growth.
Nevertheless, initial LED smart lighting installation cost could hamper the growth of market. Some restraining factors such as transformer compatibility, potential colour shift over lamp life, performance standardization and overheating could hinder the growth of market. The global outdoor LED smart lighting solution market research report presents the detailed analysis of these drivers and restraints that could help reader to understand market dynamics.
Global Outdoor LED Smart Lighting Solution Market: Segmentation Analysis
By component, hardware segment dominated the market in 2019 and is expected to keep its dominance over forecast period. Hardware includes lights & luminaries and lighting controls such as LED drivers, smart bulbs and sensors. Introduction of integrated lighting controls with lamps and luminaries are driving the growth of market. A smart bulb is an internet-capable LED light bulb that allows lighting to be customized, scheduled and controlled remotely. Smart bulbs are among the most immediately successful offerings in the growing category of outdoor automation and Internet of Things (IoT) products.
By communication technology, wireless segment dominated the market and is expected to grow at CAGR of XX% during forecast period. Wireless network controlled systems take smart lighting with control strategies such as daylight harvesting, task tuning and scheduling. Wireless lighting system lets user easily control light and create the right ambiance for every moment. In Jan 2020, Signify, the world leader in lighting, is expanding the Philips Hue outdoor collection with a new range of smart wall lights, pathway lights and low-voltage fixtures. With this new collection, bringing any outdoor space to life and setting the mood for any occasion has never been easier.
By application, street lighting segment is dominating the market. Lightening pathways, streets, lanes and by-lanes, walkways has become the key focus area in order to maintain safety as well as vibrancy on the streets, which results into the growth of market. Additionally, stadium and parking segment are expected to grow market at high CAGR. Lighting fixtures are normally used in multi-storey parking areas, and come with an enclosed construction that protects them from moisture, dust and insects.
Global Outdoor LED Smart Lighting Solution Market: Regional Analysis
Region wise, North America held the largest market share in 2019 and is expected to grow at CAGR of XX% during forecast period. The US and Canada are dominated the market. This is owing to the increasing security concerns related with home outdoors, streets and parking lots. Also rapid adoption of IoT based technologies and devices are driving the growth of market across the region.
In Sept 2019, The US based Acuity Brand, introduced the RADEAN LED Pedestrian Round and Bollard family of outdoor luminaries from Lithonia Lighting. The features simple yet elegant architectural silhouettes providing soft, uniform lighting that can help transform gathering places such as courtyards, outdoor retail locations, and university and corporate campuses into visually comfortable environments.
The objective of the report is to present a comprehensive analysis of the Global Outdoor LED Smart Lighting Solution Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report.
External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Outdoor LED Smart Lighting Solution Market dynamics, structure by analyzing the market segments and projects the Global Outdoor LED Smart Lighting Solution Market. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Outdoor LED Smart Lighting Solution Market make the report investor’s guide.
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The Scope of Global Outdoor LED Smart Lighting Solution Market
Global Outdoor LED Smart Lighting Solution Market, By Component
Global Outdoor LED Smart Lighting Solution Market, By Communication Technology
Global Outdoor LED Smart Lighting Solution Market, By Application
• Street Lighting
• Landscape Light
Global Outdoor LED Smart Lighting Solution Market, By Region
• North America
• Asia Pacific
• South America
• Middle East & Africa
Global Outdoor LED Smart Lighting Solution Market, Key Players
• Philips Lighting Holding B.V
• Acuity Brands, Inc.
• General Electric
• Osram Licht AG
• Honeywell International Inc
• Cooper Industries, Inc.
• Schneider Electric SE
• Digital Lumens, Inc
• Streetlight Vision
• Lutron Electronics Company
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