The most prominent obstacle that is hindering smart lighting market growth is high cost of installation. In spite of all these drawbacks, various benefits and advantages of smart lights is expected to drive deployment during the forecast period. Increasing popularity of smart lights, wide acceptability of standard protocols for lighting control systems, and increasing use of LED lights and luminaires in outdoor lighting are driving market revenue growth.
LED light sources segment accounted for a significantly robust revenue share in 2020 due to higher preference and benefits such as long lifespan and energy efficiency, which helps in improving its environmental impact and most importantly low voltage operation.
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Some Key Highlights From the Report
In August 2021, Signify launched new range of Philips Smart Wi-Fi lights in India. With this it expanded its Phillips Smart Wi-Fi ecosystem in India under Wiz Smart Light Range. The portfolio also includes a new smart LED downlighter, T-Bulb, T-Beamer, and Batten in addition.
Hardware segment accounted for a significant revenue share in 2020. A majority of industries acknowledge the benefits earned by the use of smart light bulbs and fixtures which can switch shades, dim lights with a remote controller such as tablets, Alexa device, and smartphones among others. This has resulted in high preference for hardware among end-use industries.
LED light sources segment accounted for a significantly robust revenue share in 2020 due to higher preference and benefits such as long lifespan and energy efficiency, which helps in improving its environmental impact and most importantly low voltage operation.
Wireless receivers and transmitter segment accounted for a moderately robust revenue share in 2020, as these products are gaining gradual popularity due flexibility, versatility, and cost effectiveness.
Major players in the market report include Acuity Brands, Signify Holding, Honeywell International Inc., Itron Inc., Ideal Industries, Inc., Häfele GmbH Co KG, Wipro Consumer Lighting, YEELIGHT, Sengled Optoelectronics Co., Ltd., and Verizon.
Research Methodology
Data triangulation and market breakdown
Research assumptions Research data including primary and secondary data
Primary data includes breakdown of primaries and key industry insights
Secondary data includes key data from secondary sources
Emergen Research has segmented the global smart lighting market on the basis of component, light source, type, end-use, and region:
Component Outlook (Revenue, USD Billion; 2018–2028)
Hardware
Software
Services
Light Source
LED Light Source
HID Light Source
Fluorescent Light Source
Type Outlook (Revenue, USD Billion; 2018–2028)
Smart Bulbs
Fixtures
Lighting Control
Sensors
Microcontroller and Microprocessors
Wireless Receivers and Transmitters
Others
End-use Outlook (Revenue, USD Billion; 2018–2028)
Commercial
Industrial
Residential
Public Lighting
Others
Regional Outlook: (Revenue, USD Billion; 2018-2028)
North America (U.S.) (Canada) (Mexico)
Europe (Germany) (UK) (France) (BENELUX) (Rest of Europe)
Asia Pacific (China) (Japan) (South Korea) (Rest of APAC)
Latin America (Brazil) (Rest of LATAM)
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Table of Content
Chapter 1. Methodology Sources
1.1. Market Definition
1.2. Research Scope
1.3. Methodology
1.4. Research Sources
1.4.1. Primary
1.4.2. Secondary
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2020-2028
Chapter 3. Key Insights
Chapter 4. Smart Lighting Market Segmentation Impact Analysis
4.1. Smart Lighting Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. Increasing demand for energy saving at homes
4.2.2.2. Government regulations mandating the use of LEDs
4.2.2.3. Growing demand of street lighting system
4.2.3. Market restraints analysis
4.2.3.1. Lack of awareness regarding selection and installation of products
4.2.3.2. High installation and maintenance cost in smart lightning system
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Chapter 5. Smart Lighting Market By Component Insights Trends, Revenue (USD Million)
Chapter 6. Smart Lighting Market By Light Source Insights Trends Revenue (USD Million)
Chapter 7. Smart Lighting Market By Product Type Insights Trends Revenue (USD Million)
Chapter 8. Smart Lighting Market By End-Use Insights Trends Revenue (USD Million)
Chapter 9. Smart Lighting Market Regional Outlook
Chapter 10. Competitive Landscape
Continue…
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