Global Smart Lighting Market - Upcoming Trends, Growth Drivers and Challenges – Forecast to 2026
Summary -
A new market
study, titled “Global Smart Lighting Market Analysis,
Trends and Opportunities 2020 - 2026” has been featured on WiseGuyReports.
Smart
Lighting Global Market Report 2020: Covid 19 Growth and Change from The
Business Research Company provides the strategists, marketers and senior
management with the critical information they need to assess the global smart
lighting market.
This
report focuses on the smart lighting market which is experiencing strong
growth. The report gives a guide to the smart lighting market which will be
shaping and changing our lives over the next ten years and beyond, including
the market's response to the challenge of the global pandemic.
Reasons
to Purchase
•
Gain a truly global perspective with the most comprehensive report available on
this market covering 12+ geographies.
•
Understand how the market is being affected by the coronavirus and how it is
likely to emerge and grow as the impact of the virus abates.
•
Create regional and country strategies on the basis of local data and analysis.
•
Identify growth segments for investment.
•
Outperform competitors using forecast data and the drivers and trends shaping
the market.
•
Understand customers based on the latest market research findings.
•
Benchmark performance against key competitors.
•
Utilize the relationships between key data sets for superior strategizing.
•
Suitable for supporting your internal and external presentations with reliable
high quality data and analysis
•
Report will be updated with the latest data and delivered to you within 3-5
working days of order.
Description:
Where
is the largest and fastest growing market for the smart lighting? How does the
market relate to the overall economy, demography and other similar markets?
What forces will shape the market going forward? The Smart Lighting market
global report from the Business Research Company answers all these questions
and many more.
The
report covers market characteristics, size and growth, segmentation, regional
and country breakdowns, competitive landscape, market shares, trends and
strategies for this market. It traces the market’s historic and forecast market
growth by geography. It places the market within the context of the wider smart
lighting market, and compares it with other markets.
•
The market characteristics section of the report defines and explains the
market.
•
The market size section gives the market size ($b) covering both the historic
growth of the market, the impact of the Covid 19 virus and forecasting its
recovery.
•
Market segmentations break down market into sub markets.
•
The regional and country breakdowns section gives an analysis of the market in
each geography and the size of the market by geography and compares their
historic and forecast growth. It covers the impact and recovery trajectory of
Covid 19 for all regions, key developed countries and major emerging markets.
•
Competitive landscape gives a description of the competitive nature of the
market, market shares, and a description of the leading companies. Key
financial deals which have shaped the market in recent years are identified.
•
The trends and strategies section highlights the likely future developments in
the market and suggests approaches companies can take to exploit this.
•
The smart lighting market section of the report gives context. It compares the
smart lighting market with other segments of the smart lighting market by size
and growth, historic and forecast. It analyses GDP proportion, expenditure per
capita, smart lighting indicators comparison.
Scope
Markets
Covered: 1) By Product: Smart Bulbs; Fixtures; Lighting Controls 2)By
Application: Commercial; Government; Residential; Others 3) By Light Source:
LED; HID; Others 4) By Communication Technology: Wired; Wireless
Companies
Mentioned: Koninklijke Philips NV; Cree Inc.; General Electricity Company; Acuity
Brands Inc.; Cisco Systems Inc.
Countries:
Brazil; China; France; Germany; India; Indonesia; Japan; South Korea; Russia;
UK; USA and Australia
Regions:
Asia-Pacific; Western Europe; Eastern Europe; North America; South America;
Middle East; Africa
Time
series: Five years historic and ten years forecast.
Data:
Ratios of market size and growth to related markets, GDP proportions; per
capita expenditure.,
Data
segmentations: country and regional historic and forecast data, market share of
competitors, market segments.
Sourcing
and Referencing: Data and analysis throughout the report is sourced using end
notes.
Major
players in the smart lighting market are Koninklijke Philips NV, Cree Inc.,
General Electricity Company, Acuity Brands Inc., Cisco Systems Inc., Eaton,
Deco Lighting, Dialight, Honeywell Inc., and Osram Licht AG.
The
global smart lighting market is expected to grow from $11.03 billion in 2019
and to $11.40 billion in 2020 at a growth rate of 3.36%. The slow growth in
2020 is mainly due to the economic slowdown across countries owing to the
COVID-19 outbreak and the measures to contain it. The market is then expected
to grow and reach $18.58 billion in 2023 at CAGR of 17.69%.
The
smart lighting market consists of sales of smart lighting products and services
used as a lighting medium for ensuring energy efficiency. The use of sensors
for instances like automatic light dimming or adjusting the brightness of light
depending on the mood of the user is some of the features of smart lighting. A smart
lighting system ensures high-cost savings and lower energy usage.
North
America was the largest region in the smart lighting market in 2019.
In
March 2020, Signify, headquartered in Netherland, specializing in LED lighting
systems and services acquired Cooper Lighting for a deal amount of $1.4 billion
on a cash and debt-free basis. The deal strengthens Signify’s market positions
in North America, with increased innovation power and more competitive
offerings. Signify will focus on integrating Cooper Lighting and on delivering
synergies. Cooper Lighting is headquartered in United States and specialises in
professional lighting, lighting controls, and connected lighting.
The
harmful effects of smart lights such as LEDs on health restricts the growth of
smart lighting market. Smart lights such as LEDs uses shortwave light, often
called “cool” in color. The prolonged continuous exposure to this light may
damage the vision of a person. According to the French Agency for Food,
Environmental and Occupational Health & Safety (ANSES)in 2019, the blue
lights which is being used in households, offices, headlights, torches, toys
and street lighting can damage the eye's retina while disturbing biological and
sleep rhythms. The report also concluded that an increased exposure to the blue
light emitted from LEDs increases the risk for age-related macular
degeneration. Macular degeneration is an eye disease that can cause vision loss
in adults. These harmful effects of LEDs on health negatively impacts the
demand for the light emitting diode (LED), affecting the growth of smart
lighting market.
The
use of Li-fi (Light Fidelity) network is the latest trend in the general
lighting market. Li-Fi is a wireless optical networking technology that uses
light-emitting diodes (LEDs) for data transmission. The Li-fi bulbs are
equipped with a small chip that modulates the light used for data transmission.
The common household LED light bulbs are used to enable data transfer with
speeds up to 224 gigabits per second. Keeping up with the trend, in 2018,
VLNComm, a U.S based provider of Li-Fi technology, launched its LumiNex LED
panel. LumiNex LED panel is a Li-Fi-enabled general lighting luminaire which is
capable of providing 108Mbps download speed. In 2018, Philips, a Netherland based
electrical provider, announced its own Li-Fi platform. The platform is being
used by a French real estate investment company Lcade.
Supportive government initiatives in developed
and emerging markets drive the growth of the smart lighting market across the
globe. The emerging growth of the smart lighting market is supported by the
rise in disposable incomes, regulatory restrictions in using energy-consuming
lamps and the integration of advanced technologies. A smart lighting system
ensures high-cost savings and lower energy costs. In the year 2015, the
government of India launched UJALA (Unnat Jyoti by Affordable LEDs for All) in
order to promote efficient use of energy at the residential level, enhance the
awareness of consumers about the efficacy of using energy-efficient appliances.
As of 6th March 2020, the UJALA scheme has distributed over 360 million total
LED (light-emitting diode) bulbs saving over USD 2.8 billion (INR 18,801
crores). Therefore, supportive government initiatives boost the demand for
smart lights thus driving the market for smart lighting.
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