Rising Demand for Smart Lighting Market during 2016-2025 Profiling Leading Players- Acuity Brands Lighting Inc., Daintree Networks, Inc.
Global Smart Lighting Market: Snapshot
The key factors driving the smart lighting market include growing awareness towards energy conservation, the long life span of LEDs and OLEDs, the rising popularity of wireless technology coupled with changing lifestyle, and decreasing price of LED lighting. At present, light is considered to consume approximately 20% of electricity production and 5% of CO2 emissions globally. At the same time, traditional lighting is accounted for the majority of electricity production in comparison to the latest LED lighting technology. Philips Lighting, subsidiary of Koninklijke Phillips NV has committed to becoming carbon neutral in the next few years. Philips is popular for making sustainable innovation for a healthier globe. Philips a global leader in lighting and smart lighting markets. In the recent past, Philips has received several projects for smart lighting, thereby promoting the adoption of smart lighting solutions worldwide.
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Wireless connectivity is taking a leap over the wire abled connecting networks as wireless is more convenient to use. First, this technology was used in the telephones now called as the mobile phones, and since then the wireless technology has revolutionized the way things were viewed. Wireless technology has given its consumers freedom from a limited range of wired devices. The lighting industry has introduced a lighting solution integrated with the wireless technology that enables its consumers to control the lighting conveniently from their mobile phones sitting away from the place/house. Wireless technologies like Bluetooth, Wi-Fi, and RF Ids are experiencing high adoption rate among users. The rising popularity of wireless technology in lighting solution is thus considered to be one of the major reasons driving the smart lighting market.
Major Keyplayers for Smart Lighting Market: Acuity Brands Lighting Inc., Daintree Networks, Inc., Digital Lumens, Inc., Eaton Corporation Plc, General Electric, Legrand SA, Lutron Electronics, Inc., OSRAM GmbH, Koninklijke Philips N.V., Sensity Systems, Inc.
Since the past few years the price of LED luminaires has reduced dramatically. The price of LED luminaires a decade ago was almost twice to thrice in comparison to the present day scenario. Furthermore, it is still expected to reduce and become as affordable as common fluorescent or incandescent lighting solutions without affecting its ability to reduce energy consumption by up to 70%. This reduction in price has taken place due to the slowing demand for LED luminaires in the market owing to their high prices. Thus, the manufacturers offered a competitive price, thereby leading to a dramatic reduction in the price of LED, in order to promote LED lighting solutions in the market. The efficacy of LED has been improving as its increased illuminating capacity per watt is resulting in better lighting source with lower energy consumption. A majority of the smart lighting market utilizes LED bulbs, the price reduction here would also affect the adoption of smart lighting solutions, in a way increasing its deployment rate globally and contributing to smart lighting market growth.
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GLOBAL SMART LIGHTING MARKET SEGMENTATION
By Lighting Type
- Light Emitting Diode (LED) Lamp
- Fluorescent Lamps
- Compact Fluorescent Lamps (CFL)
- High Intensity Discharge Lamps
- Others
By Application
- Industrial Lighting
- Residential Lighting
- Commercial Lighting
- Government
- Outdoor Lighting
- Automotive Lighting
- Connectivity Technology
By Connectivity Technology
- Wired
- Wireless
By Geography
- North America : U.S, Canada, Mexico
- Europe: France, Germany, Italy, Spain, U.K Rest of Europe
- Asia Pacific (APAC): Japan, China, India, Australia, Rest of APAC
- Middle East & Africa (MEA): Saudi Arabia, South Africa, UAE, Rest of MEA
- South America (SAM): Brazil, Rest of SAM
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