Global Smart Indoor Lighting Market
Global Smart Indoor Lighting Market: Global smart indoor lighting market size was US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027, at a CAGR of 18% during forecast period.
Global Smart Indoor Lighting Market, By Region
Smart indoor lighting is a lighting technology designed for efficient use of energy. Smart lighting used to minimize 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.
Integration of lighting solutions with smart appliances is the major driving factor behind the growth of market. Also, smart indoor lighting offers various benefits such as lower energy use, longer life span, increased security, easy functioning and lower maintenance cost are leading to the growth of market.
Furthermore, increasing adoption of standard protocols for lighting control systems, high Use of LED lights, advancement in integrated lighting control system, rapid switching from traditional lighting to smart lighting solutions, rising preference towards energy-efficient lighting solutions and rising need for PoE-based lighting solutions in commercial application are expected to improve the market growth during forecast period.
Nevertheless, high initial cost for installation of smart indoor lighting is the major restrain factor that could hamper the growth of market.
Also, security and reliability concerns related with IoT based lighting systems, transformer compatibility, and potential colour shift over lamp life, performance standardization and overheating could hinder the growth of market.
The global smart indoor lighting market research report presents the detailed analysis of these drivers and restraints that could help reader to understand market dynamics.
Global Smart Indoor Lighting Market: Segmentation Analysis
By light source, light emitting diodes segment dominated the market in 2018 and is expected to keep its dominance at CAGR of XX% during forecast period.
Longer life span and ability to use lower energy consumption are driving the growth of smart indoor lighting market.
Also, LED lights provides some benefits such as its sturdiness, improved safety, great Color Rendering Index (CRI), tremendous design flexibility, dimming capability, zero UV emissions and operating capabilities in both cold and hot temperature, which are ultimately leading to the growth of indoor LED smart lighting market.
In Sep 2017, Cree announced the expansion of its award-winning bulb family with the launch of new high lumen directional LED bulbs designed specifically for rooms with high ceilings and for consumers who want more light.
The portfolio delivers the brightest flood lights available on the market with new BR30 100W replacements, as well as R20 75W lamps.
By type, luminaries’ smart bulbs segment dominated the market in 2018 and is expected to grow at CAGR of XX% during forecast period. Development of integrated lighting controls with lamps and luminaries are driving the growth of market.
In Oct 2018, Cree, announced expansion of its industrial lighting portfolio with the new LXB Series Linear High-Bay luminaries.
The LXB Series features best-in-class performance including enhanced efficiency, reliability and an extended lifetime, which makes it an ideal solution for high ceilings, high ambient temperatures and high-profile spaces.
Global Smart Indoor Lighting Market: Regional Analysis
Region wise, North America held the largest market share in 2018 and is expected to grow at CAGR of XX% during forecast period. The US and Canada are major key contributors behind the growth of market.
The growth is attributes to ongoing Government initiatives and policies for energy savings. Also, high awareness level about smart indoor lighting among the users and increased safety concerns in residential and commercial area is propelling the growth of market.
In June 2018, Honeywell announced the launch of next-generation energy management software, smart indoor lighting, voice controls, and secure cloud communication systems at HITEC 2018 in Houston, Texas.
Through Honeywell technology, the hospitality industry can fully integrate energy management, safety and security systems, property management, and brand network operations for world class guestroom and building automation, which results into the growth of market.
The objective of the report is to present a comprehensive analysis of the Global Smart Indoor Lighting 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 Smart Indoor Lighting Market dynamics, structure by analyzing the market segments and projects the Global Smart Indoor Lighting Market.
Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Smart Indoor Lighting Market make the report investor’s guide.
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The Scope of Global Smart Indoor Lighting Market
Global Smart Indoor Lighting Market, By Light Source
• Fluorescent Lamps
• Light Emitting Diodes
• High Intensity Discharge Lamps
Global Smart Indoor Lighting Market, By Type
• Luminaries Smart Bulbs
• Lighting Controls Led Drivers & Ballasts
• Switches & Dimmers
• Relay Units
Global Smart Indoor Lighting Market, By Communication Technology
Global Smart Indoor Lighting Market, By Application
Global Smart Indoor Lighting Market, By Region
• North America
• Asia Pacific
• South America
• Middle East and Africa
Global Smart Indoor Lighting Market, Key Players
• Acuity Brands
• General Electric
• Hubbell Lighting
• Zumtobel Group
• Hafele Group
• Lutron Electronics
• Wipro Consumer Care and Lighting
• Virtual Extension
• Syska LED
• Leviton Manufacturing
• Switchmate, Inc.
• Tao Light
• Nualight Limited
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