The Smart Lighting market, the market is expected to reach USD 22 Billion by 2025 from USD 7.93 Billion in 2018, at a CAGR of 20% between 2018 and 2025. The base year considered for the study is 2017. Modernization and development of infrastructure to transform cities into smart cities, need for energy-efficient lighting systems, increasing adoption and decreasing cost of LEDs, increased demand for intelligent solutions for street lighting systems, and growing awareness about energy savings among consumers and governments worldwide are the major factors driving the growth of the market.
Significant research by input suppliers required for the establishment of a strong supply chain will drive the growth of the Smart Lighting market. At present, the lack of an established supply chain and distributed patent portfolio are the major restraints for the growth of the market. Huge investment requirement in infrastructure, equipment, and process development; and need for different manufacturing processes as well as equipment compatibility are the key challenges faced by Smart Lighting technology developers. Lack of universal open standards for aiding communication between all IoT devices is a major challenge for the commercialization of the technology in different products.
Acuity Brands (US), Honeywell (US), Philips (Netherlands), Cree (US), Legrand (France), and OSRAM (Germany)
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3D scanning technology has recorded significant adoption from commercial applications. Also, the flexibility of the technology to be customized to meet the several professional needs in industries has made it highly popular across the major end-user industries. For example, Smart Lightings are used to model body parts in 3D in the medical sector, which is further used to create prosthetics. It is also used to facilitate wound healing and generate several body implants.
Communication Technology (Revenue, USD Million; 2018–2025)
- Wired Technology
- Digital Addressable Lighting Interface (DALI)
- Power-Line Communication (PLC)
- Power Over Ethernet (PoE)
- Wired Hybrid Protocols
- Wireless Technology
- Bluetooth/Bluetooth Low Energy
- Wireless Hybrid Protocols
Application (Revenue, USD Million; 2018–2025)
- Indoor Application
- Outdoor Application
- Highways Roadways
- Public Places
Installation Type (Revenue, USD Million; 2018–2025)
- New Installation
- Retrofit Installation
Regional Outlook (Revenue, USD Million; 2018–2025)
- North America
Rest of Europe
- Asia Pacific
- Rest of APAC
- Rest of the World
- Middle East
- South America
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Key Question the Report Will Answers
At what rate will the Vessel Traffic Services (VTS) Market grow? What will be the value of the market in 2027?
What are the key technologies driving the Vessel Traffic Services (VTS) Market?
What would be the impact of Vessel Traffic Services (VTS) across different regions?
What are the strategies adopted by players to enter the APAC region?
What is the key application of Vessel Traffic Services (VTS) in the different sectors?
What are future growth strategies in the market?
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