Smart Lighting Market, Analysis and Forecast - SITE LICENSE

Smart lighting continues to propel the lighting industry with increasing revenue at a global level. The integration of physical security industry with smart lighting, changing paradigm of lighting industry to electronics industry and adding voice control feature to the upcoming products led to the global emergence of smart lighting market. The global Smart Lighting market is estimated to witness a growth at a CAGR of XX% over the period 2017 to 2023. This growth is expected due to increasing smart homes market along with customization benefits and continuously decreasing Average Selling Price (ASP) of LED bulbs.

The U.S. generated the maximum amount of revenue in the year 2016 in the global smart lighting industry among all the countries, whereas, the U.K. has the maximum potential to grow in the forecast period. If the industry has the prospects of growing with the same pace, smart lighting market will cross $100 billion in by the end of forecast period 2023.
The industry analysis section has examined the impact of the five major forces and value chain analysis to understand the overall attractiveness of the industry. The most often used strategy for developing a better hold on to the market has been through product launches, followed by partnerships, joint ventures, and collaborations. Moreover, the company profile section includes highlights of significant information about the key companies involved along with their financial positions, key strategies, and developmental activities of recent years. Some of the key players involved in this market are Acuity Brands Inc., ams AG, General Electric Company, Honeywell International Inc., Philips Lighting, Leviton Manufacturing Co. Inc., Lutron Electronics Co. Inc., NXP Semiconductors NV, OSRAM Licht AG, and Zumtobel Group AG.
The report is a compilation of different segments of Global Smart Lighting Market including market breakdown by component, technology, and application. It further takes in Porter’s five forces analysis and market dynamics. The report also discusses in detail about the key participants involved in the industry.
The report answers the following questions about the Global Smart Lighting Market:
• What is the size, in terms of value ($million) and volume (million units), of smart lighting market in 2016, and growth rate during the forecast period, 2017-2023?
• What are the major market drivers, challenges and opportunities in the global smart lighting market?
• What is the market share of the leading segments and sub-segments of the global smart lighting market in 2016 and 2023?
• How will each segment of the global smart lighting market grow during the forecast period and what will be the revenue generated by each of the segments by the end of 2023?
• How will the industry evolve during the forecast period between 2016 and 2023?
• What will be the growth rate of different segments during the forecast period? Which is the leading segment by application?
• How the market has been segmented on the basis of application?
• Which geographical location will dominate the smart lighting market?
• What are the new strategies adopted by the existing market players to make a mark in the industry?
• Who are the key players in the smart lighting market?
• What strategies are adopted by smart lighting manufacturers to sustain or grow in the market?
Executive Summary
1 Report Scope & Methodology
1.1 Scope of the Report
1.2 Smart Lighting Market Research Methodology
2 Market Dynamics
2.1 Introduction
2.2 Market Drivers
2.2.1 Prevailing Issue of Global Energy Crisis Supporting the Adoption of Smart Lighting
2.2.2 Increasing Trend of Smart Homes Along with Customization Benefits Supports Smart Lighting Market
2.2.3 Continuously Declining Average Selling Price (ASP) of LED Bulbs
2.3 Market Opportunities
2.3.1 The Integration of Physical Security Industry with Smart Lighting
2.3.2 Changing Paradigm of Lighting Industry to Electronics Industry
2.3.3 Adding Voice Control Feature to the Upcoming Products
2.4 Market Restraints
2.4.1 Design Challenges with LED Usage
2.4.2 Consumers Have to Bear High Replacement Costs from Existing Solutions to Smart Lighting
2.4.3 Lack of Standards and the Associated Interoperability Issues
3 Competitive Insights
3.1 Key Market Developments & Strategies (2014-2016)
3.1.1 New Product Launches, Developments and Expansions
3.1.2 Partnerships, Joint Ventures, Collaborations and Contracts
3.1.3 Business Expansions and Certifications
3.1.4 Mergers & Acquisitions
3.1.5 Others
3.2 Industry Attractiveness
3.2.1 Threat From New Entrants
3.2.2 Bargaining Power of Buyers
3.2.3 Bargaining Power of Suppliers
3.2.4 Threat from Substitutes
3.2.5 Intensity of Competitive Rivalry
3.3 Supply Chain Analysis
3.4 Lighting and LED trends
3.4.1 Cloud-Based Lighting Controls
3.4.2 Light Fidelity (Li-Fi) Becoming a Brighter Way to Communicate
3.4.3 OLED Panel Shipments on the Rise
3.4.4 LED Filament Bulbs Combining Incandescent Bulb Beauty with LED Lamp Benefits
3.5 Lighting as a Service (LAAS)
3.6 Leading Players Analysis
3.7 R&D Analysis
3.8 Pricing Analysis
4 Global Smart Lighting Market Breakdown by Component
4.1 Assumptions and Limitations
4.2 Market Overview
4.3 Global Smart Lighting Market Breakdown by Component
4.3.1 Fixtures
4.3.1.1 Compact Fluorescent Lamps (CFL)
4.3.1.1.1 CFL Market by Application
4.3.1.1.2 CFL Market by Region
4.3.1.2 Light Emitting Diode (LED)
4.3.1.2.1 LED Market by Application
4.3.1.2.2 LED Market by Region
4.3.1.3 Organic Light Emitting Diode (OLED)
4.3.1.3.1 OLED Market by Application
4.3.1.3.2 OLED Market by Region
4.3.1.4 High Intensity Discharge Lamps (HID)
4.3.1.4.1 HID Market by Application
4.3.1.4.2 HID Market by Region
4.3.1.5 Plasma Lamps
4.3.1.5.1 Plasma Lamps Market by Application
4.3.1.5.2 Plasma Lamps Market by Region
4.3.2 Controls
4.3.2.1 Control Market by Application
4.3.2.2 Control Market by Region
4.3.2.3 Sensors
4.3.2.4 Microprocessors & Controllers
4.3.2.5 Dimmers & Switches
4.3.2.6 Wireless Transmitters & Receivers
4.3.2.7 Ballasts and LED Drivers
5 Global Smart Lighting Market Breakdown by Technology
5.1 Market Overview
5.2 Wired Technology
5.2.1 Building Automation & Control Network (BACnet)
5.2.2 Digital Addressable Lighting Interface (DALI)
5.2.3 Power Line Communication (PLC)
5.2.4 Proprietary Control
5.2.5 Others
5.3 Wireless Technology
5.3.1 EnoCean
5.3.2 ZigBee
5.3.3 Bluetooth
5.3.4 Wi-Fi
6 Global Smart Lighting Market Breakdown by Application
6.1 Market Overview
6.2 Residential
6.3 Commercial
6.4 Industrial
6.5 Outdoor
6.6 Automotive
7 Global Smart Lighting Market Breakdown by Region
7.1 Market Overview
7.2 North America Market by Country
7.3 Asia Pacific Market by Country
7.4 Europe Market by Country
7.5 Rest of the World Market by Country
8 Company Profiles
8.1 Acuity Brands Inc.
8.1.1 Company Overview
8.1.2 Product Portfolio
8.1.3 Financials
8.1.3.1 Financial Summary
8.1.4 SWOT Analysis
8.2 Ams AG
8.2.1 Company Overview
8.2.2 Product Portfolio
8.2.3 Financials
8.2.3.1 Financial Summary
8.2.4 SWOT Analysis
8.3 CommScope Holding Company Inc.
8.3.1 Company Overview
8.3.2 Product Portfolio
8.3.3 Financials
8.3.3.1 Financial Summary
8.3.4 SWOT Analysis
8.4 Control4 Corporation
8.4.1 Company Overview
8.4.2 Product Portfolio
8.4.3 Financials
8.4.3.1 Financial Summary
8.4.4 SWOT Analysis
8.5 Daintree Networks
8.5.1 Company Overview
8.5.2 Product Portfolio
8.5.3 Corporate Summary
8.5.4 SWOT Analysis
8.6 Digital Lumens, Inc.
8.6.1 Company Overview
8.6.2 Product Portfolio
8.6.3 Corporate Summary
8.6.4 SWOT Analysis
8.7 General Electric
8.7.1 Company Overview
8.7.2 Product Portfolio
8.7.3 Financials
8.7.3.1 Financial Summary
8.7.4 SWOT Analysis
8.8 Honeywell International Inc.
8.8.1 Company Overview
8.8.2 Product Portfolio
8.8.3 Financials
8.8.3.1 Financial Summary
8.8.4 SWOT Analysis
8.9 Legrand
8.9.1 Company Overview
8.9.2 Product Portfolio
8.9.3 Financials
8.9.3.1 Financial Summary
8.9.4 SWOT Analysis
8.1 Leviton Manufacturing Co., Inc.
8.10.1 Company Overview
8.10.2 Product Portfolio
8.10.3 Corporate Summary
8.10.4 SWOT Analysis
8.11 Lutron Electronics Co., Inc.
8.11.1 Company Overview
8.11.2 Product Portfolio
8.11.3 Corporate Summary
8.11.4 SWOT Analysis
8.12 NXP Semiconductors NV
8.12.1 Company Overview
8.12.2 Product Portfolio
8.12.3 Financials
8.12.3.1 Financial Summary
8.12.4 SWOT Analysis
8.13 OSRAM Licht AG
8.13.1 Company Overview
8.13.2 Product Portfolio
8.13.3 Financials
8.13.3.1 Financial Summary
8.13.4 SWOT Analysis
8.14 Philips Lighting
8.14.1 Company Overview
8.14.2 Product Portfolio
8.14.3 Financials
8.14.3.1 Financial Summary
8.14.4 SWOT Analysis
8.15 Zumtobel Group AG
8.15.1 Company Overview
8.15.2 Product Portfolio
8.15.3 Financials
8.15.3.1 Financial Summary
8.15.4 SWOT Analysis
List of Tables
Table 1 Comparison between Various Lightings
Table 2.1 Product Life and Energy Efficiencies of Different Lamps
Table 2.2 Per Unit Price of Different Lamp Technologies
Table 3.1 New Product Launches, Developments and Expansions
Table 3.2 Partnerships, Joint Ventures, Collaborations and Contracts
Table 3.3 Business Expansions and Certifications
Table 3.4 Mergers & Acquisitions
Table 3.5 Other Developments
Table 3.6 Major LAAS Business Model Deployments
Table 4.1 Global Smart Lighting Market Breakdown by Component, 2016 – 2023
Table 4.2 Global Smart Lighting Market Breakdown by Component, 2016 – 2023
Table 4.3 Global Fixture Market Breakdown by Product, 2016 – 2023
Table 4.4 Global Fixture Market Breakdown by Product, 2016 – 2023
Table 4.5 Global CFL Market Breakdown by Application, 2016 – 2023
Table 4.6 Global CFL Market Breakdown by Application, 2016 – 2023
Table 4.7 Global CFL Market Breakdown by Region, 2016 – 2023
Table 4.8 Global CFL Market Breakdown by Region, 2016 – 2023
Table 4.9 Global LED Market Breakdown by Application, 2016 – 2023
Table 4.10 Global LED Market Breakdown by Application, 2016 – 2023
Table 4.11 Global LED Market Breakdown by Region, 2016 – 2023
Table 4.12 Global LED Market Breakdown by Region, 2016 – 2023
Table 4.13 Global OLED Market Breakdown by Application, 2016 – 2023
Table 4.14 Global OLED Market Breakdown by Application, 2016 – 2023
Table 4.15 Global OLED Market Breakdown by Region, 2016 – 2023
Table 4.16 Global OLED Market Breakdown by Region, 2016 – 2023
Table 4.17 Global HID Market Breakdown by Application, 2016 – 2023
Table 4.18 Global HID Market Breakdown by Application, 2016 – 2023
Table 4.19 Global HID Market Breakdown by Region, 2016 – 2023
Table 4.20 Global HID Market Breakdown by Region, 2016 – 2023
Table 4.21 Global Plasma Lamps Market Breakdown by Application, 2016 – 2023
Table 4.22 Global Plasma Lamps Market Breakdown by Application, 2016 – 2023
Table 4.23 Global Plasma Lamps Market Breakdown by Region, 2016 – 2023
Table 4.24 Global Plasma Lamps Market Breakdown by Region, 2016 – 2023
Table 4.25 Global Control Market Breakdown by Product, 2016 – 2023
Table 4.26 Global Control Market Breakdown by Product, 2016 – 2023
Table 4.27 Global Control Market Breakdown by Application, 2016 – 2023
Table 4.28 Global Control Market Breakdown by Application, 2016 – 2023
Table 4.29 Global Control Market Breakdown by Region, 2016 – 2023
Table 4.30 Global Control Market Breakdown by Region, 2016 – 2023
Table 4.31 Recommended Sockets for Different Fluorescent Lamps Type
Table 5.1 Global Smart Lighting Market Breakdown by Technology, 2016 – 2023
Table 5.2 Global Smart Lighting Market Breakdown by Technology, 2016 – 2023
Table 5.3 Competitiveness in BACnet Market
Table 5.4 Competitiveness in DALI Market
Table 5.5 Competitiveness in PLC Market
Table 5.6 Comparison of Wireless Technologies
Table 6.1 Global Smart Lighting Market Breakdown by Application, 2016 – 2023
Table 6.2 Global Smart Lighting Market Breakdown by Application, 2016 – 2023
Table 6.3 Company Mapping for Interior Lighting
Table 6.4 Company Mapping for Exterior Lighting
Table 6.5 Company Mapping for Application Based Lighting
Table 6.6 Company Mapping for Voice Controlled Lighting
Table 6.7 Company Mapping for Shops, Retail & Grocery Store Lighting
Table 6.8 Company Mapping for Restaurant Lighting
Table 6.9 Company Mapping for Hotel Lighting
Table 6.10 Company Mapping for Sports Arena and Stadium Lighting
Table 6.11 Company Mapping for Corporate Office Lighting
Table 6.12 Company Mapping for Warehouse Lighting
Table 6.13 Company Mapping for Production Hall Lighting
Table 6.14 Company Mapping for Outdoor Storage Areas Lighting
Table 6.15 Company Mapping for Entrance Areas and Corridors Lighting
Table 6.16 Company Mapping for Loading Docks Lighting
Table 6.17 Company Mapping for Architectural Lighting
Table 6.18 Company Mapping for Street Lights
Table 6.19 Company Mapping for Smart City Lighting
Table 6.20 Company Mapping for Parking Lighting
Table 6.21 Company Mapping for Public Areas Lighting
Table 7.1 Global Smart Lighting Market Breakdown by Region, 2016 – 2023
Table 7.2 Global Smart Lighting Market Breakdown by Region, 2016 – 2023
Table 7.3 North America Smart Lighting Market Breakdown by Country, 2016 – 2023
Table 7.4 North America Smart Lighting Market Breakdown by Country, $ Million (2015 – 2022)
Table 7.5 Smart Lighting Projects in North America
Table 7.6 Asia Pacific Smart Lighting Market Breakdown by Country, 2016 – 2023
Table 7.7 Asia Pacific Smart Lighting Market Breakdown by Country, 2016 – 2023
Table 7.8 Smart Lighting Projects in Asia Pacific
Table 7.9 Europe Smart Lighting Market Breakdown by Country, 2016 – 2023
Table 7.10 Europe Smart Lighting Market Breakdown by Country, 2016 – 2023
Table 7.11 Smart Lighting Projects in Europe
Table 7.12 Rest of the World Smart Lighting Market Breakdown by Country, 2016 – 2023
Table 7.13 Rest of the World Smart Lighting Market Breakdown by Country, 2016 – 2023
Table 7.14 Smart Lighting Projects in Rest of the World
List of Figures
Figure 1 Global Smart Lighting Market
Figure 2 Global Smart Lighting Market, by Component
Figure 3 Global Fixtures Market, by Product
Figure 4 Global Controls Market, by Product
Figure 5 Global Smart Lighting Market, by Technology
Figure 6 Global Smart Lighting Market, by Application
Figure 7 Global Smart Lighting Market, by Region
Figure 1.1 Scope of the Report
Figure 1.2 Report Design
Figure 1.3 Secondary Data Sources
Figure 1.4 Top Down and Bottom up Approach
Figure 1.5 Intelligent Lighting Controls Market Influencing Factors
Figure 1.6 Assumptions and Limitations
Figure 2.1 Market Dynamics
Figure 2.2 Rapidly Increasing Atmospheric Carbon Dioxide Concentration (PPMV) Globally
Figure 2.3 Decreasing Average selling Price of LED Bulbs (2009-2020)
Figure 2.4 Types of Security Concerns at Commercial Offices
Figure 3.1 Porter’s Five Forces for the Smart Lighting Market
Figure 3.2 Supply Chain Analysis for Smart Lighting Market
Figure 3.3 OLED Shipments (2015-2023)
Figure 3.4 LAAS Business Model
Figure 3.5 Analysis of Leading Players
Figure 3.6 Research and Development Expenditure, $ Million
Figure 3.7 Pricing Analysis of Fixtures and Controls
Figure 4.1 Smart Lighting Market Segmentation
Figure 4.2 Global Smart Lighting Market
Figure 4.3 Global Smart Lighting Market, by Component
Figure 4.4 Global Fixture Market by Product
Figure 4.5 CFL Market by Application
Figure 4.6 CFL Market by Region
Figure 4.7 LED Market by Application
Figure 4.8 LED Market by Region
Figure 4.9 OLED Market by Application
Figure 4.10 OLED Market by Region
Figure 4.11 HID Market by Application
Figure 4.12 HID Market by Region
Figure 4.13 Plasma Lamps Market by Application
Figure 4.14 Plasma Lamps Market by Region
Figure 4.15 Smart Lighting Control – Product Type Market
Figure 4.16 Global Control Market by Product
Figure 4.17 Control Market by Application
Figure 4.18 Control Market by Region
Figure 4.19 Lifespan of LED Lights in Comparison to Internal Temperature
Figure 5.1 Smart Lighting– Connection Type Market
Figure 5.2 Technology Market Size, 2017 and 2023
Figure 5.3 Price Comparison between Wired and Wireless Technology Installation
Figure 6.1 Smart Lighting Market – Applications
Figure 6.2 Global Smart Lighting Market by Application
Figure 7.1 Global Smart Lighting Market Breakdown by Region
Figure 7.2 Global Smart Lighting Market by Region
Figure 7.3 North America Smart Lighting Market by Country
Figure 7.4 Asia Pacific Smart Lighting Market by Country
Figure 7.5 Europe Smart Lighting Market by Country
Figure 7.6 Increasing Penetration of Smart Phone
Figure 7.7 Rest of the World Smart Lighting Market by Country
Figure 8.1 Overall Financials, 2013-15 ($Million)
Figure 8.2 Geographic revenue mix, 2013-15 ($ Million)
Figure 8.3 Overall Financials, 2014-16 ($Million)
Figure 8.4 Geographic Revenue Mix, 2014-16 ($Million)
Figure 8.5 Segment Revenue Mix, 2014-16 ($Million)
Figure 8.6 Overall Financials, 2013-15 ($Million)
Figure 8.7 Geographical Revenue Mix, 2013-15 ($Million)
Figure 8.8 Segment Revenue Mix, 2013-15 ($Million)
Figure 8.9 CONTROL4 CORPORATION – Overall Financials, 2014-2016($Million)
Figure 8.10 CONTROL4 CORPORATION – Geographic Revenue Mix, 2014-2016 ($Million)
Figure 8.11 General Electric – Overall Financials, 2014-2016 ($Billion)
Figure 8.12 General Electric– Business Segment Revenue Mix, 2014-2016 ($Billion)
Figure 8.13 General Electric– Business Segment Revenue Mix (Financial Operating Segments), 2014-2016 ($Billion)
Figure 8.14 General Electric– Geographical Revenue Mix, 2014-2016 ($ Billion)
Figure 8.15 Honeywell International Inc. – Overall Financials, 2014-2016
Figure 8.16 Honeywell International Inc. – Business Segment Revenue Mix, 2014-2016 ($Million)
Figure 8.17 Honeywell International Inc. – Geographical Revenue Mix, 2014-2016 ($Million)
Figure 8.18 Legrand – Overall Financials, 2014-2016($Million)
Figure 8.19 Legrand – Geographical Revenue Mix, 2014-2016 ($Billion)
Figure 8.20 Overall Financials, 2014-16 ($Million)
Figure 8.21 Geographical Revenue Mix, 2012-15 ($Million)
Figure 8.22 Segment Revenue Mix, 2012-15 ($Million)
Figure 8.23 Overall Financials, 2014-16 ($Million)
Figure 8.24 Geographic Revenue Mix, 2014-16 ($Million)
Figure 8.25 Segment Revenue Mix, 2014-16 ($Million)
Figure 8.26 Philips Lighting – Overall Financials, 2015-2016($ Million)
Figure 8.27 Philips Lighting. – Business Segment Revenue Mix, 2015-2016 ($ Billion)
Figure 8.28 Philips Lighting – Geographic Revenue Mix, 2015-2016 ($ Billion)
Figure 8.29 Overall Financials, 2014-16 ($Million)
Figure 8.30 Geographic Revenue Mix, 2014-16 ($ Million)
Figure 8.31 Segment Revenue Mix, 2014-16 ($ Million)
The integration of physical security industry with smart lighting, changing paradigm of lighting industry to electronics industry, and addition of voice control feature to the upcoming products can be ascribed as the prime reasons for the enhancing growth rate of the global smart lighting market. In terms of value, the smart lighting market is estimated to reach $XX billion by 2023 at a CAGR of XX% through the forecast period. This growth in the smart lighting market is attributed to the increasing smart homes market along with customization benefits and the continuously decreasing Average Selling Price (ASP) of LED bulbs. However, designing challenges while using LED, and lack of standards and the associated interoperability issues are restraining the growth of the global smart lighting market.
The smart lighting market has been tracked along the lines of its components, technologies, application areas, and geography. Revenue generated from various application areas, namely residential, commercial, industrial, automotive, and outdoor applications have been analyzed. The report also covers the smart lighting market on a global scale, and consequently provides revenue data of the key regions. A separate segment has been made for the key global regions: North America, Europe, Asia Pacific (APAC), and Rest of the World (ROW).
Smart lighting includes automated controls and high efficiency fixtures, designed for energy efficiency. The controls are used for the adjustments of light on the basis of conditions such as daylight or occupancy availability. Among all the fixtures, Light Emitting Diode (LED) and Organic Light Emitting Diode (OLED) hold the highest and lowest share respectively of the market in 2016. Widespread use of LED products in developed regions had a tremendous impact on energy savings, thence increasing the LED lighting market many folds since its inception. LEDs are also used for many non-conventional lighting purposes as in automobile lighting and their unidirectional feature enables them for use in aesthetic and architectural lighting purposes. These features give LED lighting market an edge over traditional lighting markets.
Wired technology has been more prevalent however, with the recent development in RF technologies there is an increase in the number of wireless installations worldwide. Although both of the technologies have their advantages and disadvantages, it totally depends on the user’s requirement to prefer any of them. Moreover, wireless control devices can be integrated with occupancy and daylight sensors to provide automated and enhanced light settings with significant energy savings. These technologies are also prone to reduced performance due to bad weather conditions.
The market is dominated by Asia Pacific region and Europe is expected to grow with the highest rate in the coming years. The dominance of Asia-Pacific smart lighting market over other regions is due to the heavy demand for new construction, strong economic growth driven mainly by China, and increasing affordability of LED lighting in the region. The Government of China supports the installation of outdoor LED lighting, which is further expected to accelerate the growth of the smart light fixture and control market in the region.
Some of the key players in the industry are Acuity Brands Inc., ams AG, General Electric Company, Honeywell International Inc., Philips Lighting, Lutron Electronics Co. Inc., NXP Semiconductors NV, OSRAM Licht AG, and Zumtobel Group AG among others.
North America
Asia Pacific
Europe
RoW
smart lighting, smart lighting market, smart lighting industry, smart lighting growth, smart lighting trends, smart lighting forecasts
According to a new market research report by BIS Research, titled "Global Smart Lighting Market – Analysis and Forecast (2017-2023)", the smart lighting market is estimated to reach $105 billion by 2023 at a CAGR of 10.9% from 2017 to 2023. The shifting paradigm of lighting industry to electronics industry is one of the major reasons for the growth of the smart lighting market.
The burning issue of the global energy crisis is supporting the adoption of smart lighting. The average selling price (ASP) of LED bulbs has dropped substantially and smart homes market is gradually increasing, which is in turn driving the growth of the smart lighting market. The scenario of lighting industry has been completely transformed with the establishment of modern technologies in it. The smart lighting industry not only involves lamps, but also the sensors that gather and transfer the information. Then the information is delivered to the software for generating a suitable response which could be dimming the illumination, change in color, and/or switching on or off.
One of the major concerns of building owners is energy management. By installing a smart lighting in a building, 50% energy costs can be saved and productivity and comfort of the user can also be improved. Some of the advantages of energy management include cost reduction, energy price fluctuations and supply shortage reduction, and carbon emissions reduction. Most of the building owners are opting for smart lighting systems due to the reduction in energy costs provided by them. Utilities are able to support the demand response strategies and suspend construction of new power plants with the reduction in energy costs provided by smart lighting controls. Additionally, the policy makers are supporting the installation of smart lighting systems due to the reduction in carbon emissions. These factors are supporting the growth of global smart lighting market.
According to Kunal Dua, analyst at BIS Research, "Residential application of smart lighting is currently dominating the market and also experiencing a significant growth rate as compared to other applications. Smart homes are the ultimate solution for the consumer which brings numerous advantages with respect to energy and cost savings. Majority of the companies operating in this space are already investing millions of dollars to integrate seamlessly the physical and digital world. The residential lightings offered by the lighting players have developed broad portfolios such as shading solutions, colorful lighting solutions, single room and complete home solutions."
The landscape of the smart lighting market has transformed drastically with the integration of modern technologies in the lighting industry. The market has been divided along the lines of key component types, technologies, and application. The key fixtures include compact fluorescent light (CFL), light emitting diode (LED), organic LED, high-intensity discharge (HID) lamps, and plasma lamps. Among these fixtures, LED hold the largest share in the market, holding 47% of the total share in 2016. Widespread use of LED products in developed regions has had a tremendous impact on energy savings, thus, increasing the share of the LED lighting market manifold since its inception. LEDs are also used for many non-conventional lighting purposes such as automotive lighting, furthermore, their unidirectional feature enables them for use in aesthetic and architectural lighting purposes. These features give LED lighting market an edge over traditional lighting markets. LED lightings cost is gradually decreasing, due to improving luminous efficacy and declining production costs. The manufacturers have been improving the luminosity of the LED, rather than power consumption, to reduce the LED lighting costs.
The increased adoption of smart lighting is because of the associated advantages such as cost reduction, energy price fluctuations, supply shortage reduction, and carbon emissions reduction. Geographically, Asia Pacific dominated the global smart lighting market in 2016 in terms of value and volume. The dominance of Asia-Pacific smart lighting market over other regions is due to a widespread demand for new construction, the strong economic growth driven mainly by China, and an increasing affordability of LED lighting in the region. However, Europe is expected to grow at the highest rate in the coming years. This growth is due to the rising trend of smart homes in the Asia-Pacific region.
This market intelligence report provides a detailed analysis of the key growth drivers and restraining forces of the global smart lighting market, with an extensive insight into various forms of developments, trends and key participants in the market.
The market report includes a thorough analysis of the market trends and size, along with market estimation based on key geographical regions. Inculcating detailed financial analysis of key players in the market, the report provides individual SWOT analysis of each company. Some of the key players analyzed in the report are Acuity Brands Inc., ams AG, CommScope Holding Company Inc., Control4 Corporation, Daintree Networks, Digital Lumens, Inc., General Electric Company, Honeywell International Inc., Koninklijke Philips N.V., Legrand S.A., Leviton Manufacturing Co. Inc., Lutron Electronics Co. Inc., NXP Semiconductors NV, OSRAM Licht AG, and Zumtobel Group AG. The key strategies being adopted by the market players are product launches, joint ventures, collaborations, partnerships, and contracts to attain their respective market shares in this emerging domain.
This report is a meticulous compilation of research on more than 80 players in the smart lighting ecosystem and draws upon insights from in-depth interviews with key opinion leaders, market participants and vendors.
The report addresses the following questions about the global smart lighting market:
• What is the size, in terms of value ($million) and volume (million units), of smart lighting market in 2016, and growth rate during the forecast period, 2017-2023?
• What are the major market drivers, challenges, and opportunities in the global smart lighting market?
• What is the market share of the leading segments and sub-segments of the global smart lighting market in 2016 and 2023?
• How will each segment of the global smart lighting market grow during the forecast period and what will be the revenue generated by each of the segments by the end of 2023?
• What are the influencing factors that may affect the market share of the key players?
• How will the industry evolve during the forecast period between 2016 and 2023?
• What are the key developmental strategies implemented by the key players to stand out in this market?
• What will be the growth rate of different segments during the forecast period? Which is the leading segment by application and components of smart lighting?
• Who are the key players for the smart lighting market?
• How has the market been segmented on the basis of application?
• Which geographical location will dominate the smart lighting market?
Acuity Brands Inc.
General Electric Company
Honeywell International Inc.
Philips Lighting
Lutron Electronics Co. Inc.
NXP Semiconductors NV
OSRAM Licht AG
Ams AG
Digital Lumens, Inc.
Leviton Manufacturing Co., Inc.
Zumtobel Group AG
Global Smart Lighting Market to Reach $105 Billion by 2023, Reports BIS Research