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Smart Lighting Market Size, Share, Growth & Forecast (2024-2032)
Smart Lighting Market Size Was Valued at USD 12.30 Billion in 2023, and is Projected to Reach USD 51.71 Billion by 2032, Growing at a CAGR of 17.30% From 2024-2032.
IMR Group
Description
Smart Lighting Market Synopsis:
Smart Lighting Market Size Was Valued at USD 12.30 Billion in 2023, and is Projected to Reach USD 51.71 Billion by 2032, Growing at a CAGR of 17.30% From 2024-2032.
Based on the definition used when proposing this dissertation, the smart lighting market relates to the supply and application of intricate controls that provide energy-saving and flexible, automated lighting. Some of these systems are; compatibility of smart devices with control, dimming and scheduling in addition to automation by wireless technology. Smart lighting systems may be fit on residential, retail, industrial building and many others; they use little energy, are convenient to the user and efficient in providing lighting.
The major drivers for the Smart Lighting Market are therefore the increasing adoption of better lighting standards. Thus, due to such factors as changed energy tariffs and growing concerns for the environment in the world, public and commercial consumers need intelligent lighting systems that could minimize electricity consumption. Also the advancement in the wireless communications technologies such as the Bluetooth, Zigbee and Wi-fi has eased easy installation of smart lighting solutions to infrastructures that are already established hence increasing the demand.
Other factors include; Home Automation also known as smart home and smart city technologies. This is because the increasing occurrence of smart and connected building infrastructures make new systems needed especially in urban setups where the management of the needs of the civilian populace can be better addressed, better security felt and increased control of artificial lighting, smart control and efficient energy utilization. As smart lighting is part of such systems, increased numbers of cities and homeowners install them, which, in turn, will boost the market even more.
Smart Lighting Market Trend Analysis:
integration with IoT – Internet of Things
Another important trend identified in the Smart Lighting Market is that it is integrated with IoT – Internet of Things. Due to rising familiarity in conjunction with connected devices smart lighting systems are going to provide improved control from the mobile application and other voice-based application which may require IoT integration. It also enables specific control over other smart devices to guarantee that the users of different lights systems find the usage as convenient as possible.
Of all the trends listed above, it is imperative to add one more; the focus on the human centric lighting (HCL). This lamps innovation controls the lighting area basing to human needs in relation to the natural light. HCL is mostly applied to the offices, schools and health facilities since the light affects productivity, employee morale and health of the people.
The emergence of smart city
Smart lighting has attracted much attention and seen great opportunities to grow with the launch of smart city. Smart infrastructure has remained a popular topic of discussion between governments and urban planner with smart lighting system at the forefront. These systems do not only present the efficiency of using energy but also more flexibility such as system control, lighting response and public security – all inspired with the smart city profile.
The increase in retrofit solutions is also a potential in the market development of the industry. Nowadays, any business entities and even homes have also changed old source of lighting to new source of energy efficient smart lighting systems. This segment tend to be the most active as retrofit kits have been made very affordable and easily scalable while more building owners and homeowners are always on the lookout for most efficient way of upgrading their lighting systems.
Smart Lighting Market Segment Analysis:
Smart Lighting Market is Segmented on the basis of Offering, Application, End User, and Region.
By Offering, Services segment is expected to dominate the market during the forecast period
The Smart Lighting Market has been segmented into hardware, software and service by offer aspect. Which can be categorized as any part of smart lighting system including the fixtures − LED bulbs, sensors and Controllers. Any such systems can be connected, controlled and fully automated by utilising software tools which, in majority of cases, can be found in mobile applications or SaaS. Services include installation and others offered out of the sale of smart lighting systems so as to ensure effectiveness and longevity of operations of the smart lighting systems.
By Application, Residential segment expected to held the largest share
This particular market is also segmented according to the use of the consumer item; residential, commercial, industrial and outside usage. Actually, the smart lighting solutions for the residential segment or with similar intention focuses on the comfort of the homeowner and energy-saving. In commercial application these systems increase energy saving and other, conditions of the working premises. Application in industries is used for proper illumination and safety in industries while the outdoor uses for street lamps and outdoors la replacement in municipal establishments in security and energy in cities.
Smart Lighting Market Regional Insights:
North America is Expected to Dominate the Market Over the Forecast period
North America has the largest market share in Smart Lighting Market currently because this region has relatively well-developed infrastructure, high density of smart technology applications and strong focus on energy efficiency. The region has market giant players, strong smart homes market and have favorable government policies on sustainability. Moreover, it has been realized that there is a very huge funding available for smart city projects for North America and there is a rising demand felt in the global market to save energy especially for residential, commercial as well as industrial purposes.
In the circumstances, it would be a wise one analyze the main factors that have a positive impact to Smart Lighting Solutions owing to the technological advancement within region plus growing awareness, by consumers, on the need to conserve energies as well as Smart Lighting Solutions Company prove to be environmentally friendly. North America being most advanced region in terms of lightings regulation and IoT integration in the systems will remain the largest region in the market.
Active Key Players in the Smart Lighting Market
Acuity Brands (USA)
Cree, Inc. (USA)
Eaton Corporation (Ireland)
General Electric (USA)
Hubbell Lighting (USA)
Legrand (France)
Lutron Electronics (USA)
OSRAM Licht AG (Germany)
Signify (Netherlands)
Zumtobel Group (Austria)
Other Active Players.
Chapter 1: Introduction
1.1 Scope and Coverage
Chapter 2:Executive Summary
Chapter 3: Market Landscape
3.1 Market Dynamics
3.1.1 Drivers
3.1.2 Restraints
3.1.3 Opportunities
3.1.4 Challenges
3.2 Market Trend Analysis
3.3 PESTLE Analysis
3.4 Porter’s Five Forces Analysis
3.5 Industry Value Chain Analysis
3.6 Ecosystem
3.7 Regulatory Landscape
3.8 Price Trend Analysis
3.9 Patent Analysis
3.10 Technology Evolution
3.11 Investment Pockets
3.12 Import-Export Analysis
Chapter 4: Smart Lighting Market by Type
4.1 Smart Lighting Market Snapshot and Growth Engine
4.2 Smart Lighting Market Overview
4.3 Autonomous Robots
4.3.1 Introduction and Market Overview
4.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
4.3.3 Key Market Trends, Growth Factors and Opportunities
4.3.4 Autonomous Robots: Geographic Segmentation Analysis
4.4 Expert Systems
4.4.1 Introduction and Market Overview
4.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
4.4.3 Key Market Trends, Growth Factors and Opportunities
4.4.4 Expert Systems: Geographic Segmentation Analysis
4.5 Intelligent Assistants
4.5.1 Introduction and Market Overview
4.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
4.5.3 Key Market Trends, Growth Factors and Opportunities
4.5.4 Intelligent Assistants: Geographic Segmentation Analysis
4.6 Smart Embedded Systems
4.6.1 Introduction and Market Overview
4.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
4.6.3 Key Market Trends, Growth Factors and Opportunities
4.6.4 Smart Embedded Systems: Geographic Segmentation Analysis
4.7 Other Types
4.7.1 Introduction and Market Overview
4.7.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
4.7.3 Key Market Trends, Growth Factors and Opportunities
4.7.4 Other Types: Geographic Segmentation Analysis
Chapter 5: Smart Lighting Market by Technology
5.1 Smart Lighting Market Snapshot and Growth Engine
5.2 Smart Lighting Market Overview
5.3 Machine Learning
5.3.1 Introduction and Market Overview
5.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
5.3.3 Key Market Trends, Growth Factors and Opportunities
5.3.4 Machine Learning: Geographic Segmentation Analysis
5.4 Natural Language Processing
5.4.1 Introduction and Market Overview
5.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
5.4.3 Key Market Trends, Growth Factors and Opportunities
5.4.4 Natural Language Processing: Geographic Segmentation Analysis
5.5 Computer Vision
5.5.1 Introduction and Market Overview
5.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
5.5.3 Key Market Trends, Growth Factors and Opportunities
5.5.4 Computer Vision: Geographic Segmentation Analysis
5.6 Context Awareness
5.6.1 Introduction and Market Overview
5.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
5.6.3 Key Market Trends, Growth Factors and Opportunities
5.6.4 Context Awareness: Geographic Segmentation Analysis
5.7 Other Technologies
5.7.1 Introduction and Market Overview
5.7.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
5.7.3 Key Market Trends, Growth Factors and Opportunities
5.7.4 Other Technologies: Geographic Segmentation Analysis
Chapter 6: Smart Lighting Market by End User
6.1 Smart Lighting Market Snapshot and Growth Engine
6.2 Smart Lighting Market Overview
6.3 Automotive
6.3.1 Introduction and Market Overview
6.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
6.3.3 Key Market Trends, Growth Factors and Opportunities
6.3.4 Automotive: Geographic Segmentation Analysis
6.4 Healthcare
6.4.1 Introduction and Market Overview
6.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
6.4.3 Key Market Trends, Growth Factors and Opportunities
6.4.4 Healthcare: Geographic Segmentation Analysis
6.5 Aerospace & Defense
6.5.1 Introduction and Market Overview
6.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
6.5.3 Key Market Trends, Growth Factors and Opportunities
6.5.4 Aerospace & Defense: Geographic Segmentation Analysis
6.6 Manufacturing
6.6.1 Introduction and Market Overview
6.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
6.6.3 Key Market Trends, Growth Factors and Opportunities
6.6.4 Manufacturing: Geographic Segmentation Analysis
6.7 Consumer Electronics
6.7.1 Introduction and Market Overview
6.7.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
6.7.3 Key Market Trends, Growth Factors and Opportunities
6.7.4 Consumer Electronics: Geographic Segmentation Analysis
6.8 Other Industries
6.8.1 Introduction and Market Overview
6.8.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
6.8.3 Key Market Trends, Growth Factors and Opportunities
6.8.4 Other Industries: Geographic Segmentation Analysis
Chapter 7: Company Profiles and Competitive Analysis
7.1 Competitive Landscape
7.1.1 Competitive Benchmarking
7.1.2 Smart Lighting Market Share by Manufacturer (2023)
7.1.3 Industry BCG Matrix
7.1.4 Heat Map Analysis
7.1.5 Mergers and Acquisitions
7.2 SIGNIFY (NETHERLANDS)
7.2.1 Company Overview
7.2.2 Key Executives
7.2.3 Company Snapshot
7.2.4 Role of the Company in the Market
7.2.5 Sustainability and Social Responsibility
7.2.6 Operating Business Segments
7.2.7 Product Portfolio
7.2.8 Business Performance
7.2.9 Key Strategic Moves and Recent Developments
7.2.10 SWOT Analysis
7.3 OSRAM LICHT AG (GERMANY)
7.4 GENERAL ELECTRIC (USA)
7.5 ACUITY BRANDS (USA)
7.6 CREE INC. (USA)
7.7 LEGRAND (FRANCE)
7.8 HUBBELL LIGHTING (USA)
7.9 LUTRON ELECTRONICS (USA)
7.10 ZUMTOBEL GROUP (AUSTRIA)
7.11 EATON CORPORATION (IRELAND)
7.12 OTHER ACTIVE PLAYERS
Chapter 8: Global Smart Lighting Market By Region
8.1 Overview
8.2. North America Smart Lighting Market
8.2.1 Key Market Trends, Growth Factors and Opportunities
8.2.2 Top Key Companies
8.2.3 Historic and Forecasted Market Size by Segments
8.2.4 Historic and Forecasted Market Size By Type
8.2.4.1 Autonomous Robots
8.2.4.2 Expert Systems
8.2.4.3 Intelligent Assistants
8.2.4.4 Smart Embedded Systems
8.2.4.5 Other Types
8.2.5 Historic and Forecasted Market Size By Technology
8.2.5.1 Machine Learning
8.2.5.2 Natural Language Processing
8.2.5.3 Computer Vision
8.2.5.4 Context Awareness
8.2.5.5 Other Technologies
8.2.6 Historic and Forecasted Market Size By End User
8.2.6.1 Automotive
8.2.6.2 Healthcare
8.2.6.3 Aerospace & Defense
8.2.6.4 Manufacturing
8.2.6.5 Consumer Electronics
8.2.6.6 Other Industries
8.2.7 Historic and Forecast Market Size by Country
8.2.7.1 US
8.2.7.2 Canada
8.2.7.3 Mexico
8.3. Eastern Europe Smart Lighting Market
8.3.1 Key Market Trends, Growth Factors and Opportunities
8.3.2 Top Key Companies
8.3.3 Historic and Forecasted Market Size by Segments
8.3.4 Historic and Forecasted Market Size By Type
8.3.4.1 Autonomous Robots
8.3.4.2 Expert Systems
8.3.4.3 Intelligent Assistants
8.3.4.4 Smart Embedded Systems
8.3.4.5 Other Types
8.3.5 Historic and Forecasted Market Size By Technology
8.3.5.1 Machine Learning
8.3.5.2 Natural Language Processing
8.3.5.3 Computer Vision
8.3.5.4 Context Awareness
8.3.5.5 Other Technologies
8.3.6 Historic and Forecasted Market Size By End User
8.3.6.1 Automotive
8.3.6.2 Healthcare
8.3.6.3 Aerospace & Defense
8.3.6.4 Manufacturing
8.3.6.5 Consumer Electronics
8.3.6.6 Other Industries
8.3.7 Historic and Forecast Market Size by Country
8.3.7.1 Russia
8.3.7.2 Bulgaria
8.3.7.3 The Czech Republic
8.3.7.4 Hungary
8.3.7.5 Poland
8.3.7.6 Romania
8.3.7.7 Rest of Eastern Europe
8.4. Western Europe Smart Lighting Market
8.4.1 Key Market Trends, Growth Factors and Opportunities
8.4.2 Top Key Companies
8.4.3 Historic and Forecasted Market Size by Segments
8.4.4 Historic and Forecasted Market Size By Type
8.4.4.1 Autonomous Robots
8.4.4.2 Expert Systems
8.4.4.3 Intelligent Assistants
8.4.4.4 Smart Embedded Systems
8.4.4.5 Other Types
8.4.5 Historic and Forecasted Market Size By Technology
8.4.5.1 Machine Learning
8.4.5.2 Natural Language Processing
8.4.5.3 Computer Vision
8.4.5.4 Context Awareness
8.4.5.5 Other Technologies
8.4.6 Historic and Forecasted Market Size By End User
8.4.6.1 Automotive
8.4.6.2 Healthcare
8.4.6.3 Aerospace & Defense
8.4.6.4 Manufacturing
8.4.6.5 Consumer Electronics
8.4.6.6 Other Industries
8.4.7 Historic and Forecast Market Size by Country
8.4.7.1 Germany
8.4.7.2 UK
8.4.7.3 France
8.4.7.4 The Netherlands
8.4.7.5 Italy
8.4.7.6 Spain
8.4.7.7 Rest of Western Europe
8.5. Asia Pacific Smart Lighting Market
8.5.1 Key Market Trends, Growth Factors and Opportunities
8.5.2 Top Key Companies
8.5.3 Historic and Forecasted Market Size by Segments
8.5.4 Historic and Forecasted Market Size By Type
8.5.4.1 Autonomous Robots
8.5.4.2 Expert Systems
8.5.4.3 Intelligent Assistants
8.5.4.4 Smart Embedded Systems
8.5.4.5 Other Types
8.5.5 Historic and Forecasted Market Size By Technology
8.5.5.1 Machine Learning
8.5.5.2 Natural Language Processing
8.5.5.3 Computer Vision
8.5.5.4 Context Awareness
8.5.5.5 Other Technologies
8.5.6 Historic and Forecasted Market Size By End User
8.5.6.1 Automotive
8.5.6.2 Healthcare
8.5.6.3 Aerospace & Defense
8.5.6.4 Manufacturing
8.5.6.5 Consumer Electronics
8.5.6.6 Other Industries
8.5.7 Historic and Forecast Market Size by Country
8.5.7.1 China
8.5.7.2 India
8.5.7.3 Japan
8.5.7.4 South Korea
8.5.7.5 Malaysia
8.5.7.6 Thailand
8.5.7.7 Vietnam
8.5.7.8 The Philippines
8.5.7.9 Australia
8.5.7.10 New Zealand
8.5.7.11 Rest of APAC
8.6. Middle East & Africa Smart Lighting Market
8.6.1 Key Market Trends, Growth Factors and Opportunities
8.6.2 Top Key Companies
8.6.3 Historic and Forecasted Market Size by Segments
8.6.4 Historic and Forecasted Market Size By Type
8.6.4.1 Autonomous Robots
8.6.4.2 Expert Systems
8.6.4.3 Intelligent Assistants
8.6.4.4 Smart Embedded Systems
8.6.4.5 Other Types
8.6.5 Historic and Forecasted Market Size By Technology
8.6.5.1 Machine Learning
8.6.5.2 Natural Language Processing
8.6.5.3 Computer Vision
8.6.5.4 Context Awareness
8.6.5.5 Other Technologies
8.6.6 Historic and Forecasted Market Size By End User
8.6.6.1 Automotive
8.6.6.2 Healthcare
8.6.6.3 Aerospace & Defense
8.6.6.4 Manufacturing
8.6.6.5 Consumer Electronics
8.6.6.6 Other Industries
8.6.7 Historic and Forecast Market Size by Country
8.6.7.1 Turkiye
8.6.7.2 Bahrain
8.6.7.3 Kuwait
8.6.7.4 Saudi Arabia
8.6.7.5 Qatar
8.6.7.6 UAE
8.6.7.7 Israel
8.6.7.8 South Africa
8.7. South America Smart Lighting Market
8.7.1 Key Market Trends, Growth Factors and Opportunities
8.7.2 Top Key Companies
8.7.3 Historic and Forecasted Market Size by Segments
8.7.4 Historic and Forecasted Market Size By Type
8.7.4.1 Autonomous Robots
8.7.4.2 Expert Systems
8.7.4.3 Intelligent Assistants
8.7.4.4 Smart Embedded Systems
8.7.4.5 Other Types
8.7.5 Historic and Forecasted Market Size By Technology
8.7.5.1 Machine Learning
8.7.5.2 Natural Language Processing
8.7.5.3 Computer Vision
8.7.5.4 Context Awareness
8.7.5.5 Other Technologies
8.7.6 Historic and Forecasted Market Size By End User
8.7.6.1 Automotive
8.7.6.2 Healthcare
8.7.6.3 Aerospace & Defense
8.7.6.4 Manufacturing
8.7.6.5 Consumer Electronics
8.7.6.6 Other Industries
8.7.7 Historic and Forecast Market Size by Country
8.7.7.1 Brazil
8.7.7.2 Argentina
8.7.7.3 Rest of SA
Chapter 9 Analyst Viewpoint and Conclusion
9.1 Recommendations and Concluding Analysis
9.2 Potential Market Strategies
Chapter 10 Research Methodology
10.1 Research Process
10.2 Primary Research
10.3 Secondary Research
Q1: What would be the forecast period in the Smart Lighting Market research report?
A1: The forecast period in the Smart Lighting Market research report is 2024-2032.
Q2: Who are the key players in the Smart Lighting Market?
A2: •Signify (Netherlands), OSRAM Licht AG (Germany), General Electric (USA), Acuity Brands (USA), Cree, Inc. (USA), Legrand (France), Hubbell Lighting (USA), Lutron Electronics (USA), Zumtobel Group (Austria), Eaton Corporation (Ireland) and Other Active Players.
Q3: What are the segments of the Smart Lighting Market?
A3: The Smart Lighting Market is segmented into Offerings, Application, End User and region. by Offering the market is categorized into Software, Services; By Technology: Bluetooth, Zigbee, Wi-Fi, Powerline Communication (PLC), Others), Application the market is categorized into Residential, Commercial, Industrial, Outdoor, End User the market is categorized into Government, Residential, Commercial, Industrial. By region, it is analyzed across North America (U.S., Canada, Mexico), Eastern Europe (Russia, Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe), Western Europe (Germany, UK, France, The Netherlands, Italy, Russia, Spain, Rest of Western Europe), Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New-Zealand, Rest of APAC), Middle East & Africa (Turkiye, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa), South America (Brazil, Argentina, Rest of SA).
Q4: What is the Smart Lighting Market?
A4: According to the definition adopted for this dissertation the smart lighting market entails the sales and implementation of sophisticated controls that offer energy efficient, customizable and automated lighting systems. Such systems include smart devices compatibility with control, dimming and scheduling as well as automation through wireless technology. Smart lighting systems can be installed in residential, retail, and industrial buildings among others and are characterized by low energy consumption, convenience user and efficiency in lighting.
Q5: How big is the Smart Lighting Market?
A5: Smart Lighting Market Size Was Valued at USD 12.30 Billion in 2023, and is Projected to Reach USD 51.71 Billion by 2032, Growing at a CAGR of 17.30% From 2024-2032.
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