Smart Lighting System Market 2021 Business Scenario – GE Lighting, PHILIPS, TVILIGHT, Osram, Lutron, Telematics,

The Smart Lighting System market is a comprehensive market research report which provides market analysis with a historical & futuristic perspective for the following parameters; market size, revenue, demand, and supply data (as applicable). The report offers a detailed market analysis to provide a 360-degree research study on the global Smart Lighting System market. Some of the tools used for this are SWOT, PESTEL, and Porter's 5-forces analysis frameworks. The report includes detailed information on the key trends, market drivers, challenges, regulatory landscape, deployment models, opportunities, future roadmaps, value chains, player profiles, and strategies. The impact of the COVID-19, and also forecasts its recovery post-COVID-19. The report also presents forecasts for Smart Lighting System from 2021 till 2026.

Smart/connected lighting is defined as an LED-based system with sensors and controllers that are networked (wired/wireless) and enable the lighting products within the system to communicate with each other and transmit data. The scope of the study includes both smart lamps and luminaries, as well as lighting control systems. The coverage of this study is limited to residential smart lighting solutions. The sales of products to commercials and industrial end-users have been excluded from the scope of the study.

The smart Lighting System market is estimated to grow from USD 13.4 billion in 2020 and projected to reach USD 30.10 billion by 2025, at a CAGR of 18.3%

Top leading Manufacturers Profiled in Smart Lighting System Market Report are:

GE Lighting, PHILIPS, TVILIGHT, Osram, Lutron, Telematics, Control4, Echelon, DimOnOff, Venture Lighting, Cimcon, Petra Systems, Honeywell, Murata, Schneider Electric, Legrand, Huagong Lighting, Zengge, ST Engineering

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At present, Europe dominates the smart lighting market mainly in commercial buildings, automobile applications, and outdoor lighting. The presence of key players plays an important role in the implementation of smart lighting in this region. North America follows the European market. In the future, APAC will be the emerging market, and the highest growth is expected to be in the resident building smart lighting application. The key drivers for smart lighting are favorable government policies, energy efficiency, development in electronics and sensor technology, the evolution of wireless technologies, growth of LED, and high growth in a street lighting systems,s and eradication of incandescent lamps.

Market News and Update-

-August 2020 - Hubbell Lighting introduced the SpectraSafevideo security application intended for deployment on linear LED luminaires throughout facilities, such as office space, retail, care facilities, banks, and more, and intended to supplant legacy video security systems. The intention is facility security based on Internet of Things (IoT) technology with guaranteed secure transmission and storage of the video data.

-February 2021 - Signify, the creators of the highly successful Philips Hue line of smart light bulbs, selected Google Cloud as their preferred partner of choice to deliver a seamless digital experience, making it easier than ever for Hue owners to enjoy smart lighting’s full potential. Signify chose Google Cloud to power their smart lighting solution for Google Cloud’s ability to manage millions of connected devices as well as offer true scalability, flexibility, and security.

-June 2020 - GE Current plans to expand smart lighting solutions in Canada, with OmnilumenTechnical Products and GS Lighting Group. These partnerships will bring Current’s expansive portfolio of lighting and digital controls solutions to more businesses throughout Ontario.

Global Smart Lighting System Market Split by Product Type and Applications:

Market Research Study Focus on these Types:

Hardware
Software
Service

Market Research Study Focus on these Applications:

Household Use
Commercial Use

Regional Analysis for Smart Lighting System Market:

For a comprehensive understanding of market dynamics, the global Smart Lighting System market is analyzed across key geographies namely the United States, Europe, China, Japan, Southeast Asia, India, Central & South America. Each of these regions is analyzed based on market findings across major countries in these regions for a macro-level understanding of the market.

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Global Smart Lighting System Market: Competitive Landscape

GSMA estimates that China may account for approximately 4.1 billion IoT connections, which is almost one-third of the global IoT connections, by 2025. Smart lighting systems are expected to be the biggest beneficiary of the trend, during the forecast period. Technology giants in the country, like Tencent, Baidu, JD, and Alibaba, are introducing their smart system solutions. The majority of the Chinese market share is distributed among these giants. These domestic brands are trendy and are expected to drive market growth.

Frequently Asked Questions about the Smart Lighting System market:

– What are the recent developments and government policies?
– What are the top trends in the Smart Lighting System market?
– What is the growth rate of the market?
– Which Is the Most potential market segment?
– Which are the top industry players in the Smart Lighting System market?
– Which region would offer high growth for vendors in the market?

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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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