Global smart lighting market is driven by increasing demand for energy efficient lighting systems primarily aimed at reducing energy consumption in commercial and industrial buildings. In addition, advancements of sensors and connecting technologies in the field of smart lighting are further boosting the market growth. Furthermore, increasing penetration of energy efficient lighting such as LED lamps is further fueling the growth of global smart lighting market during the forecast period.
Smart lighting systems embedded with various sensors and wireless technology can substantially reduce energy consumption compared to traditional lighting systems. One of the most prominent applications of smart lighting includes commercial and industrial buildings. Lightings in commercial and industrial buildings contribute to around 40% of the total energy expenditure. Presently, the majority of the lightings installed in buildings stocks are based on the older and less energy-efficient lighting technology. The building owners and other stakeholders are increasingly becoming aware of and accepting the need for smart lighting to trim down energy consumption. This factor has resulted in the growth of smart lighting market during the forecasted period. Furthermore, gradual transition from traditional lighting or lamps to more energy efficient LED lamps is attributing to the growth of the smart lighting market globally. Ability of LEDs to adjust light color, intensity and directions is leading to increasing incorporation in smart lighting solutions. Surge in installation of LED lamps by replacement of traditional lamps is expected to boost the global smart lighting market growth during the forecast period.
The global smart lighting market is divided based on lighting type into five segments: LED lamps, fluorescent lamps, compact fluorescent lamps, high intensity discharge lamps and others. LED lamp segment have the highest growth potential during the forecast period attributed to the ability of substantially reducing energy expenditure in end user applications such as commercial and industrial buildings. However, incorporation of LED lamps requires high initial investment due to elevated price of LED lamps compared to traditional lighting such as compact fluorescent lamps and fluorescent lamps. Overall the LED lamp type segment is expected to see a robust growth throughout the forecast period owed to its high life expectancy and features such as dimming and varying light color and temperature.
The smart lighting market can be segmented based on components into: controllable breakers, relays, dimmer actuators, sensors, switch actuators, and others. In terms of revenue, controllable breakers held majority share of the smart lighting market in 2014 and is expected to continue its leading position throughout the forecast period. Demand for smart controllable breakers with advanced programmable features have attributed to increasing replacement of traditional breakers, driving the growth of the segment.
Based on application, the market has been segmented into five types, which includes commercial and industrial, residential, public and government buildings, outdoor lighting, and others. Commercial and industrial is the major application segments of the smart lighting market followed by public and government buildings, outdoor lightings, and residential buildings. In addition, the commercial and industrial segment is expected to maintain its leadership during the forecast period attributed to surge in demand for energy efficient lighting in industries and commercial buildings primarily aimed at reducing energy expenditure. In addition, increasing adoption of smart lighting in public and government buildings is driving the growth of the overall smart lighting market globally. Moreover, the requirement of remote monitoring and automated lighting controls are further driving the growth of smart lightings in residential and other indoor application segments.
Key players in the smart lighting market are Royal Phillips N.V. (Netherlands), Zumtobel Group AG (Austria), Acuity Brands, Inc. (U.S.), Encelium Technologies, Inc. (U.S.), Digital Lumens, Inc. (U.S.), Honeywell International Inc. (U.S.), Legrand SA (France), Osram Licht AG (Germany), Streetlight Vision (France) and Lutron Electronics, Company, Inc. (U.S.) among others.
Smart lighting solutions are offered by coupling various lighting types powered with different control components and connecting technology. Smart lighting solutions enable remote controlling of lighting systems using wired or wireless technologies. The smart lighting market is primarily driven by the increasing demand for energy efficient lighting systems for reducing energy consumption cost. Moreover, technological advancements of sensors and wireless technologies in the field of smart lighting is driving the growth of smart lighting market. In addition, LED based smart lighting solutions is aiding the growth of this market.
The global smart lighting market is expected to witness a significant growth during the forecast period. This is due to the increasing adoption of smart lighting solution across various application segments such as industrial, commercial, public and government buildings. In addition, incorporation of smart lightings in various outdoor lighting and residential buildings is further aiding the growth of smart lighting market. Presently, commercial and industrial segment holds the majority of the market share and is expected to dominate the market during the forecast period from 2014 to 2020. However, the residential application of smart lighting has the highest growth potential of smart lighting in the next few years. Moreover, increasing demand for smart lightings for implementation in smart streetlights for remote monitoring and automated lighting systems is aiding the growth of the market.
Replacement of traditional inefficient lighting systems with sensors enabled automated lighting systems is creating new opportunities for the smart lighting manufacturers globally. Moreover, LED lamps replacing traditional incandescent lamps are creating new opportunities in the market. Regionally, Europe has the highest penetration for smart lighting are they are the early adapters of technology. However, the Asia Pacific region is expected to show the highest growth rate due to the presence of developing nations like India and China.
This market research study analyzes the smart lighting market on a global level, and provides estimates in terms of revenue (USD billion) from 2014 to 2020. It recognizes the drivers and restraints affecting the industry and analyzes their impact over the forecast period. Moreover, it identifies the significant opportunities for market growth in the coming years.
The report segments the market on the basis of geography as North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW), and these have been estimated in terms of revenue (USD billion). In addition, the report segments the market based on the component type, which include relays, controllable breakers, sensors, switch actuators, dimmer actuators and others. By lighting types, the market is segmented into LED lamps, fluorescent lamp, compact fluorescent lamp, high intensity discharge lamp and others. It also segments the market on the basis of application as commercial & industrial, residential, outdoor lighting, public & government buildings and others. All these segments have also been estimated on the basis of geography in terms of revenue (USD billion).
For better understanding of the smart lighting market, we have given a detailed analysis of the supply chain. A detailed Porter’s five forces analysis has been given for a better understanding of the intensity of the competition present in the market. Furthermore, the study comprises a market attractiveness analysis, where the applications are benchmarked based on their market scope, growth rate and general attractiveness.
The report provides company market share analysis of various industry participants. The key players have also been profiled on the basis of company overview, financial overview, business strategies, and the recent developments in the field of smart lighting. Major market participants profiled in this report include Honeywell International Inc., Legrand SA, Lutron Electronics Company Inc., Osram Licht AG and Royal Philips N.V among others.
Smart Lighting Market: By Geography
- North America
- Asia Pacific
- Rest of the World
Smart Lighting Market: By Component
- Controllable Breakers
- Switch Actuators
- Dimmer Actuators
Smart Lighting Market: By Lighting Type
- LED Lamps
- Fluorescent Lamp
- Compact Fluorescent Lamp
- High Intensity Discharge Lamp
Smart Lighting Market: By Application
- Commercial & Industrial
- Outdoor Lighting
- Public & Government Buildings
The report provides a cross-sectional analysis of all the above segments with respect to the following regions:
- North America
- Asia Pacific
- Rest of the World (RoW)