Smart Lighting Market Size, Share & Industry Trends, 2030

Report Code SE 2506
Published in Apr, 2024, By MarketsandMarkets™
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Smart Lighting Market Size, Share & Industry Growth Analysis by Installation Type (New Installations, Retrofit Installations), Offering (Hardware, Software, Services), End-use Application (Indoor, Outdoor), Communication Technology (Wired, Wireless) and Region - Global Forecast to 2029

Overview

The global smart lighting market size is expected to reach USD 18.0 billion by 2029 from USD 9.5 billion in 2024, growing at a CAGR of 13.8% during the forecast period from 2024 to 2029. Smart lighting, characterized by its ability to be controlled remotely-often through smartphone applications-offers a plethora of features including timers, schedules, motion detection, voice commands, and color adjustments. Rooted in the concept of self-monitoring, analysis, and reporting technology (SMART), smart lighting systems are engineered to transcend the basic functionality of illumination. They enhance security, safety, convenience, health, wellness, and energy efficiency. Moreover, these systems seamlessly integrate with other smart home devices and can be managed through various wireless transmissions, such as Wi-Fi radios and Bluetooth. The anticipated significant growth of the smart lighting industry in the upcoming years is fuelled by the escalating popularity and acceptance of smart home technology. Smart lighting entails lighting systems controlled by network-driven control systems, ensuring the right amount of light at the right place and time. Its primary aim is to enhance energy efficiency, leading to long-term cost and power savings. Comprising integrated software and hardware, smart lighting systems automatically adjust lighting based on predefined parameters. It includes various hardware devices such as lights, luminaires, and lighting control components, utilizing different communication technologies to facilitate device interaction as per application requirements. Employing both wired and wireless communication technologies, these systems overcome the cost and complexity limitations associated with conventional wired controls. Wireless networking elevates the intelligence of modern lighting control systems, enabling companies to achieve cost savings and operate in an environmentally friendly manner. Smart lighting solutions encompass indoor applications like residential, commercial, and industrial settings, as well as outdoor applications such as highways, roadways, architectural lighting, and public spaces.

Attractive Opportunities in the Smart Lighting Market

ASIA-PACIFIC

The growth of the smart lighting market in Asia Pacific is attributed due to the increased demand for rapid adoption of connected lighting systems across various applications.

Emerging smart office and smart retail trends to propel the smart lighting market growth in Asia Pacific region.

The smart lighting market in Asia Pacific is projected to grow at the highest CAGR, USD 6.8 billion by 2029 from 3.0 billion in 2024, at a CAGR of 17.7% during the 2024- 2029 period.

New product launches, acquisition, partnership and collaborations are expected to offer lucrative growth opportunities for the market players during the forecast period.

Growing demand of personalized lighting control solutions is rising the demand of smart lighting market

Global Smart Lighting Market Dynamics

Driver: Maximizing efficiency with IoT-integrated smart lighting solutions

Smart lighting leverages IoT-enabled sensors, bulbs, or adapters, empowering users to effortlessly manage their home or office lighting through their smartphone or smart home management platform. These solutions offer versatile control options, allowing users to operate them via external devices like smartphones or smart assistants, set schedules, or activate them based on sound or motion triggers.According to IBM, the day-to-day operational expenses of a building constitute 70 percent of its total cost throughout its lifespan, encompassing basic utilities such as energy and water. These costs present significant opportunities for optimization through IoT technology.Smart lighting systems possess the capability to autonomously detect occupancy status within a building, relying on other IoT devices like thermostats or security systems, or adhering to user-defined schedules. By ensuring that lights are not left illuminated unnecessarily, whether at the end of a workday or during periods of absence, smart lighting becomes a valuable asset for energy conservation and operational efficiency.Moreover, smart lightbulbs predominantly utilize LED technology rather than incandescent bulbs. Switching to LED bulbs can yield substantial savings, with the average household potentially saving around $76 annually by making the transition. However, the appeal of smart lighting solutions lies not only in these savings but also in the added convenience and customization they offer. IoT-enabled smart lighting enables users to:Save money by transitioning to energy-efficient LED bulbs.Establish schedules to ensure lights are off when not required, or remotely control lighting schedules for security purposes while away from home.Adjust the color or dimness of lights in various rooms or individual bulbs, providing personalized lighting experiences tailored to specific preferences and needs.

Restraint: Security risks associated with internet-connected lighting systems

In connected lighting systems, wireless networks serve as the foundation for linking various components within the lighting control infrastructure. Connected lights consist of advanced LED fixtures equipped with integrated sensors and cameras, all interconnected through a wireless network. Data and information are typically stored in the cloud for remote accessibility.However, the reliance on internet connectivity in connected or smart lighting products introduces security vulnerabilities that can be exploited by hackers. Such breaches could lead to severe consequences, including unauthorized access to control systems for lighting, door locks, and security cameras. The potential for intruders to manipulate smart systems in homes or public venues raises significant security and privacy concerns.Moreover, in wireless lighting solutions, the reliability of communication diminishes with increasing obstacles and distances between devices, affecting data throughput. To mitigate these challenges, connected luminaires often establish a mesh nodal network, allowing each luminaire to communicate with its nearest counterpart. Despite this approach, the deployment of numerous wireless sensors within a connected lighting system can still result in data loss due to obstacles and interference from unlicensed signals.

 

Opportunity: Rising demand for PoE-based lighting solution in healthcare and commercial application

Power over Ethernet (PoE) streamlines the provision of power and network connectivity to devices via a single network cable. PoE solutions simplify and reduce the cost of network installation and expansion in buildings where installing new power lines is impractical or costly. These solutions alleviate congestion for organizations, as they eliminate the need for significant budget allocations to enhance operational capabilities.Commercial buildings, including office spaces, warehouses, and retail establishments, are increasingly embracing PoE-enabled solutions due to their numerous benefits. These include cost savings in installation, reduced overall design and construction expenses, and minimized labor efforts by decreasing the quantity of Ethernet cables required. According to the University of Michigan, the anticipated expansion of commercial building floor space in the US holds substantial promise for PoE lighting vendors, presenting opportunities for manufacturers in the connected lighting sector.Furthermore, PoE-enabled lighting solutions are gaining traction in various commercial applications, particularly in healthcare environments. In healthcare settings, energy efficiency is crucial for curbing escalating overhead costs, and lighting plays a significant role in enhancing patient experiences. Integration of PoE lighting with IoT technology allows programming environments to adjust lighting intensity, creating a more comfortable and less distracting atmosphere for patients. Hospitals and nursing homes can even automate lighting to respond to patient movements, turning lights on when they leave their bed and off when they return, thereby enhancing convenience and reducing energy waste.

Challenge: Interoperability challenge between multiple network components

The central challenge within the lighting control system sector revolves around the availability of solutions that integrate multiple interoperable technologies within a unified framework. End users grapple with selecting an appropriate lighting control solution from a wide range of options, compounded by the absence of standardized norms, which complicates the integration process.The absence of uniform standards gives rise to compatibility issues among disparate components, impeding seamless interoperability and communication within lighting systems. Traditional lighting control systems typically comprise hardware and software from the same manufacturer, while connected lighting solutions incorporate controls from various manufacturers, exacerbating interoperability challenges. Consequently, there is an urgent need to establish standard protocols to streamline the development of compatible products.Entities such as The Connected Lighting Alliance (TCLA) and the ZigBee Alliance are actively engaged in efforts to standardize protocols within connected lighting technology, with the goal of enabling luminaires to efficiently gather and exchange data for analytical purposes. Among wireless technologies utilized for communication within smart lighting systems, ZigBee, EnOcean, Z-Wave, and Wi-Fi are prominent, with ZigBee being widely preferred by system manufacturers. However, the current landscape is characterized by manufacturers adhering to proprietary protocols and standards to gain competitive advantages, thereby hindering the establishment of common standards and communication protocols, consequently constraining market expansion.

Global Smart Lighting Market Ecosystem Analysis

Smart lighting Market Ecosystem The prominent players in the smart lights market are Signify Holding (Netherlands), ACUITY BRANDS, INC. (US), Zumtobel Group (Austria), ams-OSRAM AG (Austria), and Panasonic Corporation (Japan).

 

Retrofit installations are expected to grow at the highest cagr during the forecast period.

Retrofitting involves upgrading old smart lighting systems to enhance lighting performance, adjust light characteristics, decrease heat emissions, and lower energy usage. During retrofitting, portions of existing lighting fixtures and conventional light sources are substituted with LED lamps, along with non-integrated luminaires and controls like LED drivers, dimmers, sensors, switches, and gateways. This process typically doesn't necessitate the installation of new poles or fixtures. Presently, LED retrofitting stands as one of the most prevalent methods for customers to upgrade their lighting systems.LED retrofitting utilizes existing lighting fixtures by employing straightforward screw-in options or retrofit kits designed to fit into current lighting setups. These retrofits offer simplicity in installation. Plug-and-play LED retrofit options provide the easiest transition to LED technology, allowing users to effortlessly insert plug-in LED modules into their existing fixtures. Nonetheless, retrofit installations can be somewhat more intricate, as they require adjustments to accommodate existing light fixtures for compatibility with the new components.

Expansion of the Smart LED Lighting Market

The smart LED lighting market is rapidly growing, fueled by the increasing adoption of energy-efficient and environmentally friendly lighting solutions. These lighting systems, which can be controlled via mobile apps, voice commands, or integrated with smart home ecosystems, offer enhanced convenience, customization, and energy savings. The growing trend towards smart homes, coupled with rising consumer awareness of energy conservation and sustainability, is driving demand for smart LED lighting solutions in both residential and commercial sectors. Additionally, advancements in LED technology and the integration of IoT (Internet of Things) functionalities are enhancing the capabilities of these systems, allowing for greater flexibility, automation, and improved user experiences, further propelling market expansion.

Outdoor segment is projected to grow at the highest CAGR during the forecast period from 2024-2029.

Smart outdoor lights offer a range of intelligent options for controlling gardens, building exterior lighting, highway & roadways lighting, architectural lighting, and lighting for public places. They can be operated through various means such as motion sensors, wall panels, mobile devices, or voice commands. Users have the flexibility to select from different types of bulbs, light panels, LED strips, and more to achieve the desired illumination for outdoor spaces.Installation of these lights can be tailored to meet specific requirements. Users can determine the types of lights they prefer and where they want them positioned. Expert installers can then devise a lighting solution that aligns with the user's preferences and complements the style of their garden.Integrating intelligent lighting technologies ensures real-time dynamic control of outdoor lighting. These systems have the capability to adjust light levels based on factors such as traffic flow, weather conditions, and the presence of pedestrians, thereby enhancing safety and reducing energy consumption.In November 2023, Signify Holding launched Philips Radii auto-linkable ultra efficient solar lights which are designed to synchronize and illuminate simultaneously upon motion detection. Utilizing ultra efficient technology, these solar lights can illuminate outdoor areas for up to six nights before requiring recharging from sunlight. Available as pedestal and wall lights, they ensure consistent performance even on cloudy days, providing reliable lighting for gardens and other outdoor spaces.

Asia Pacific Region Holds the Largest Share of the Smart Lighting Market

The Asia Pacific region is positioned to lead the charge as the swiftest-growing market for smart lighting systems in the upcoming forecast period. With its vast potential, smart lighting is anticipated to gain widespread adoption among consumers throughout the region, becoming an integral component of modernized households.

 
 

Recent Developments of Smart Lighting Market industry

  • In February 2024, Siemens and Enlighted, a prominent property technology company under Siemens, unveiled a strategic alliance with Zumtobel Group, a renowned global provider of lighting solutions. This partnership aims to promote the integration of smart building technologies, particularly intelligent IoT lighting, establishing novel benchmarks for efficiency and sustainability in building operations across the globe In January 2024, Lutron Electronics Co., Inc. launched Maestro dual controls with built-in LED+ advanced dimming technology. The Maestro dual control models have been a trusted choice for managing multiple lights or fans from one spot, particularly in areas like kitchens, closets, and bathrooms. A popular option among professional installers and their clients, the latest iterations now integrate Lutron Electronics Co., Inc. LED+ advanced technology, ensuring seamless LED dimming without interference, flicker, or shimmer. In November 2023, ACUITY BRANDS, INC. launched J6SLC LED Smart Speaker Downlight, featuring RGBW color changing capabilities, offering an ideal connection to smart home lighting solutions. With Bluetooth or Zigbee connectivity, it can be controlled via voice commands or an app. Compatible with Amazon Alexa, Samsung SmartThings, and Google Home platforms, the J6SLC provides versatile customization options for effortless lighting control after installation and pairing. In September 2023, Lutron Electronics Co., Inc. launched Pico line-powered wireless control. It is tailored for commercial projects seeking a battery-free alternative. This new device operates online-voltage power and communicates wirelessly through RF with Vive wireless load-control devices, encompassing dimmers, switches, fixture controllers, and receptacle controllers In June 2023, The strategic partnership between Legrand and Specialty Lighting delivers personalized lighting controls integrated with Specialty Lighting’s premium architectural lighting solutions, encompassing both standard and bespoke downlights, accent lights, linear lights, and picture lighting. This partnership ensures a comprehensive and visually appealing lighting design and user experience for various projects, whether new residential and commercial constructions, remodeling endeavors, or redecorating ventures. In April 2023, ACUITY BRANDS, INC. launched SlimBasics JSBT Tapered LED Disk Light Series, designed for cost-effective residential lighting, with smart home compatibility. The new JSBTC model connects via Bluetooth or Zigbee to sync with the mobile device or smart home hub, compatible with Samsung SmartThings, Amazon Alexa, and Google Home platforms. With identical aesthetics to existing models, such as Static and Switchable JSBT, adding the smart JSBTC offers seamless integration and flexibility throughout every room of a home. In January 2023, ACUITY BRANDS, INC. launched DTL DIN networked photocontrol merging a durable 20-year LED photocontrol with the Itron network platform, offering superior performance for smart street lighting systems. It provides unparalleled functionality and adaptive control. With the DIN solution, users gain access to a versatile platform for efficiently managing outdoor infrastructure, including smart lighting, traffic control, smart metering, and other IoT technologies.
  • In January 2024, at the Consumer Electronics Show in Las Vegas, NV, Legrand, a renowned global specialist and premier single-source provider of electrical wiring solutions, unveiled its newest addition to the radiant collection of smart lighting. This latest offering features new Matter-enabled Wi-Fi smart devices, slated for release in 2024. This advancement represents the next evolution of the Smart Lighting with Wi-Fi line, introducing the Matter standard to light switches, dimmers, and outlets. It underscores Legrand's ongoing dedication to innovation in the realm of smart lighting. In November 2023, Signify Holding launched Philips radii auto-linkable ultra efficient solar lights are designed to synchronize and illuminate simultaneously upon motion detection. Utilizing ultra-efficient technology, these solar lights can illuminate outdoor areas for up to six nights before requiring recharging from sunlight. Available as pedestal and wall lights, they ensure consistent performance even on cloudy days, providing reliable lighting for gardens and other outdoor spaces In October 2023, IDEAL INDUSTRIES, INC. (Cree Lighting) has unveiled the debut of the brand-new Guideway Series Street Light, showcasing NanoComfort Technology. This innovation aims to revolutionize customer perceptions regarding conventional streetlights, including their performance, features, options, and notably, the level of visual comfort they offer. In June 2023, Signify Holding launched Philips Hue luster E14 bulb which offers a spectrum of warm-to-cool white and vibrant colors. Stay ahead of design trends with the extended range of Philips Hue panels. Tailor lighting experience with the latest features, including the brightness balancer for Entertainment areas and additional time slots for motion sensors, ensuring personalized control over ambiance. In February 2023, Zumtobel Group, in partnership with Haufe Deckensysteme, implemented a distinctive illuminated ceiling system. It boasts not only aesthetic appeal but also advanced functionality. Within this system, lighting, heating, cooling, and acoustics are seamlessly integrated, offering a cutting-edge, energy-efficient, and adaptable solution. Beyond public areas and offices, Zumtobel Group has outfitted the new high-bay warehouse, laboratory, technology center, and shipping area with contemporary luminaires. In January 2023, ACUITY BRANDS, INC. announced its subsidiary, Acuity Brands Lighting, Inc. (“Acuity Brands”), entered in an agreement with Biological Innovations and Optimization Systems, LLC (BIOS) through the BIOS ILLUMINATED program. Under this agreement, BIOS will provide ACUITY BRANDS, INC. with human-centric LED lighting components for integration into its architectural lighting fixtures designed for wellness. ACUITY BRANDS, INC. will also gain global rights to use the BIOS trademark for marketing fixtures featuring BIOS SkyBlue technology.

Key Market Players

KEY PLAYERS IN THE Smart Lighting Market INCLUDE

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Scope of the Report

Report Attribute Details
Estimated Market Size USD 9.5 billion in 2024
Projected Market Size USD 18.0 billion by 2029
Smart Lights Market Growth CAGR of 13.8%
Market size available for years 2020–2029
Base year considered 2023
Forecast period 2024–2029
Forecast units Value (USD Million/Billion), Volume (Million Units)
Segments Covered By Installation Type, Offering, End-use Application, Communication Technology and Region
Geographies covered North America, Europe, Asia Pacific, and RoW
Companies covered The major players in the smart lighting market are Signify Holding (Netherlands), Legrand (France), ACUITY BRANDS, INC. (US), ams-OSRAM AG (Austria), Honeywell International Inc. (US), Zumtobel Group (Austria), Wipro Lighting (India), Lutron Electronics C

Key Questions Addressed by the Report

What is the current size of the global smart lighting market?
The current size of smart lighting is USD 9.5 billion (2024) and is expected to reach USD 18.0 billion by 2029 with a CAGR of 13.8 % in the forecast period from 2024 to 2029.
Who are the winners in the global smart lighting market?
Companies such as Signify Holding (Netherlands), ACUITY BRANDS, INC. (US), Zumtobel Group (Austria), ams-OSRAM AG (Austria), and Panasonic Corporation (Japan) are the winners in the global smart lighting market.
Which region is expected to hold the highest market share?
Asia Pacific regions are expected to hold the largest market share for the smart lighting market in the forecast period 2024-2029.
What are the major drivers and opportunities related to the smart lighting market?
Smart city initiatives are illuminating opportunities for global development is the major driver of the market and Growing demand of personalized lighting control solution is the major opportunity of the market.
What are the major strategies adopted by market players?
The key players have adopted product launches, acquisitions, partnership, and collaborations to strengthen their position in the smart lighting market.

 

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Table of Contents

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TITLE
PAGE NO
INTRODUCTION
24
RESEARCH METHODOLOGY
30
EXECUTIVE SUMMARY
43
PREMIUM INSIGHTS
47
MARKET OVERVIEW
49
  • 5.1 INTRODUCTION
  • 5.2 SMART LIGHTING MARKET DYNAMICS
    DRIVERS
    - Increasing smart city initiatives
    - Setting up of standard and digital protocols by authorized bodies
    - Rising demand for IoT-integrated smart lighting solutions
    - Growing adoption of LED lights and luminaires in outdoor applications
    - Surging demand for smart lighting in residential settings
    - Incorporation of data analytics
    RESTRAINTS
    - High initial cost of equipment and accessories
    - Security risks associated with internet-connected lighting systems
    OPPORTUNITIES
    - Emerging smart office and smart retail trends
    - Growth prospects in Asia Pacific and Middle East
    - Increasing preference for human-centric lighting solutions
    - Rising use of PoE-based lighting solutions in commercial and healthcare applications
    - Growing demand for personalized lighting control solutions
    CHALLENGES
    - Interoperability and compatibility issues
  • 5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS
  • 5.4 PRICING ANALYSIS
    AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY OFFERING
    INDICATIVE PRICING TREND OF SMART LIGHTS AND LUMINAIRES, BY REGION
  • 5.5 SUPPLY CHAIN ANALYSIS
  • 5.6 ECOSYSTEM ANALYSIS
  • 5.7 INVESTMENT AND FUNDING SCENARIO
  • 5.8 TECHNOLOGY ANALYSIS
    KEY TECHNOLOGIES
    - Communication protocols
    - Sensors
    - Smart controls
    COMPLEMENTARY TECHNOLOGIES
    - Power over Ethernet (PoE)
    - Li-Fi (light fidelity)
    - Visible light communication (VLC)
    ADJACENT TECHNOLOGIES
    - Voice assistants
  • 5.9 PATENT ANALYSIS
  • 5.10 TRADE ANALYSIS
    IMPORT SCENARIO (HS CODE 9405)
    EXPORT SCENARIO (HS CODE 9405)
  • 5.11 KEY CONFERENCES AND EVENTS, 2024–2025
  • 5.12 CASE STUDY ANALYSIS
    GERMAN MUNICIPALITY IMPLEMENTS SIGNIFY HOLDING’S BRIGHTSITES SOLUTION TO ADVANCE SMART CITY GOALS
    HONEYWELL INTERNATIONAL INC. ESTABLISHES NEW AIRFIELD GROUND LIGHT MANUFACTURING FACILITY IN INDIA
    TRULIFI BY SIGNIFY HOLDING ENHANCES INTERNET CONNECTIVITY IN BELGIAN SCHOOLS
  • 5.13 TARIFF AND REGULATORY LANDSCAPE
    TARIFF ANALYSIS
    REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
  • 5.14 PORTER’S FIVE FORCES ANALYSIS
    INTENSITY OF COMPETITIVE RIVALRY
    THREAT OF NEW ENTRANTS
    THREAT OF SUBSTITUTES
    BARGAINING POWER OF BUYERS
    BARGAINING POWER OF SUPPLIERS
  • 5.15 KEY STAKEHOLDERS AND BUYING CRITERIA
    KEY STAKEHOLDERS IN BUYING PROCESS
    BUYING CRITERIA
SMART LIGHTING MARKET, BY INSTALLATION TYPE
81
  • 6.1 INTRODUCTION
  • 6.2 NEW INSTALLATIONS
    NEED FOR MODERN LIGHTING SYSTEMS WITH STATE-OF-THE-ART COMPONENTS TO DRIVE MARKET
  • 6.3 RETROFIT INSTALLATIONS
    RISING DEMAND FOR SYSTEM UPGRADES TO BOOST MARKET GROWTH
SMART LIGHTING MARKET, BY OFFERING
85
  • 7.1 INTRODUCTION
  • 7.2 HARDWARE
    LIGHTS AND LUMINAIRES
    - Cost and energy-efficiency benefits of LED technology to boost demand
    LIGHTING CONTROLS
    - LED drivers and ballasts
    - Sensors
    - Switches
    - Dimmers
    - Relay units
    - Gateways
  • 7.3 SOFTWARE
    NEED FOR ACCURATE DATA ANALYTICS TO DRIVE MARKET
  • 7.4 SERVICES
    PRE-INSTALLATION SERVICES
    - Help tailor lighting solutions to suit customer requirements
    POST-INSTALLATION SERVICES
    - Provide comprehensive post-installation support and maintenance
SMART LIGHTING MARKET, BY END-USE APPLICATION
100
  • 8.1 INTRODUCTION
  • 8.2 INDOOR
    COMMERCIAL
    - Rising need to reduce energy consumption to drive demand
    INDUSTRIAL
    - Increasing demand for enhanced safety and productivity to drive market
    RESIDENTIAL
    - Growing demand for energy-efficient solutions to boost market
    OTHERS
  • 8.3 OUTDOOR
    HIGHWAYS AND ROADWAYS LIGHTING
    - Need for customized lighting control solutions to drive market
    ARCHITECTURAL LIGHTING
    - Requirement for human-centric lighting to drive demand
    LIGHTING FOR PUBLIC PLACES
    - Safety concerns to accelerate demand
SMART LIGHTING MARKET, BY COMMUNICATION TECHNOLOGY
111
  • 9.1 INTRODUCTION
  • 9.2 WIRED
    DALI
    - Offers versatility and greater energy savings
    POWER OVER ETHERNET (POE)
    - Used to power devices through Ethernet cables
    POWER LINE COMMUNICATIONS (PLC)
    - Helps improve connectivity between lighting solutions
    WIRED HYBRID PROTOCOLS
    - Ensure security and isolation of control systems
  • 9.3 WIRELESS
    ZIGBEE
    - Serves low-power wireless IoT networks
    WI-FI
    - Facilitates direct device-to-device connections
    BLE
    - Enhances user mobility by eliminating cables
    ENOCEAN
    - Enables prolonged communication without need for recharging
    6LOWPAN
    - Facilitates communication for devices with limited processing capabilities
    WIRELESS HYBRID PROTOCOLS
    - Improve data transmission through proactive and reactive routing
SMART LIGHTING MARKET, BY REGION
123
  • 10.1 INTRODUCTION
  • 10.2 NORTH AMERICA
    NORTH AMERICA: RECESSION IMPACT
    US
    - Rising demand for energy-efficient lighting technologies to drive market
    CANADA
    - Rising consumer awareness to propel demand
    MEXICO
    - Growing adoption in commercial and industrial settings to boost market
  • 10.3 EUROPE
    EUROPE: RECESSION IMPACT
    GERMANY
    - Rising environmental concerns to drive market
    FRANCE
    - Need for sustainable lighting in public spaces to fuel market
    UK
    - Growing demand for eco-friendly lighting solutions to propel market
    ITALY
    - Resurgence of construction industry to boost demand
    SPAIN
    - Emission reduction goals to drive market
    REST OF EUROPE
  • 10.4 ASIA PACIFIC
    ASIA PACIFIC: RECESSION IMPACT
    CHINA
    - Increasing construction activities to accelerate demand
    JAPAN
    - Need to reduce energy consumption to fuel market
    INDIA
    - Government initiatives to drive market
    AUSTRALIA
    - Growing focus on energy-efficiency to boost market
    REST OF ASIA PACIFIC
  • 10.5 ROW
    ROW: RECESSION IMPACT
    SOUTH AMERICA
    - Increasing focus on cost-saving systems to drive market
    MIDDLE EAST & AFRICA
    - Demand for connected urban environments to drive market
    - GCC Countries
    - Rest of Middle East & Africa
COMPETITIVE LANDSCAPE
155
  • 11.1 OVERVIEW
  • 11.2 KEY PLAYER STRATEGIES/RIGHT TO WIN, 2021–2024
  • 11.3 REVENUE ANALYSIS, 2019–2023
  • 11.4 MARKET SHARE ANALYSIS, 2023
  • 11.5 COMPANY VALUATION AND FINANCIAL METRICS
    COMPANY VALUATION
    FINANCIAL METRICS
  • 11.6 BRAND/PRODUCT COMPARISON
  • 11.7 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023
    STARS
    EMERGING LEADERS
    PERVASIVE PLAYERS
    PARTICIPANTS
    COMPANY FOOTPRINT: KEY PLAYERS, 2023
    - Company footprint
    - Region footprint
    - Installation type footprint
    - Offering footprint
    - End-use application footprint
    - Communication technology footprint
  • 11.8 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023
    PROGRESSIVE COMPANIES
    RESPONSIVE COMPANIES
    DYNAMIC COMPANIES
    STARTING BLOCKS
    COMPETITIVE BENCHMARKING, STARTUPS/SMES, 2023
    - Detailed list of startups/SMEs
    - Competitive benchmarking of key startups/SMEs
  • 11.9 COMPETITIVE SCENARIO AND TRENDS
    PRODUCT LAUNCHES
    DEALS
COMPANY PROFILES
178
  • 12.1 INTRODUCTION
  • 12.2 KEY PLAYERS
    SIGNIFY HOLDING
    - Business overview
    - Products/Solutions/Services offered
    - Recent developments
    - MnM view
    LEGRAND
    - Business overview
    - Products/Solutions/Services offered
    - Recent developments
    - MnM view
    ACUITY BRANDS, INC.
    - Business overview
    - Products/Solutions/Services offered
    - Recent developments
    - MnM view
    AMS-OSRAM AG
    - Business overview
    - Products/Solutions/Services offered
    - Recent developments
    - MnM view
    HONEYWELL INTERNATIONAL INC.
    - Business overview
    - Products/Solutions/Services offered
    - Recent developments
    - MnM view
    ZUMTOBEL GROUP
    - Business overview
    - Products/Solutions/Services offered
    - Recent developments
    WIPRO LIGHTING
    - Business overview
    - Products/Solutions/Services offered
    - Recent developments
    LUTRON ELECTRONICS CO., INC
    - Business overview
    - Products/Solutions/Services offered
    - Recent developments
    IDEAL INDUSTRIES, INC. (CREE LIGHTING)
    - Business overview
    - Products/Solutions/Services offered
    - Recent developments
    LEDVANCE GMBH
    - Business overview
    - Products/Solutions/Services offered
    - Recent developments
  • 12.3 OTHER PLAYERS
    CURRENT
    SAVANT SYSTEMS, INC.
    INTER IKEA SYSTEMS B.V.
    DIALIGHT
    SCHNEIDER ELECTRIC
    ABB
    LIGHTWAVE
    RAB LIGHTING INC.
    SYNAPSE WIRELESS INC.
    PANASONIC CORPORATION
    LEVITON MANUFACTURING CO., INC.
    SYSKA
    BUILDING ROBOTICS INC. (BRI), A SIEMENS COMPANY
    HELVAR
    LIFX
    NANOLEAF
    SENGLED GMBH
    TVILIGHT PROJECTS B.V.
APPENDIX
235
  • 13.1 INSIGHTS OF INDUSTRY EXPERTS
  • 13.2 DISCUSSION GUIDE
  • 13.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
  • 13.4 CUSTOMIZATION OPTIONS
  • 13.5 RELATED REPORTS
  • 13.6 AUTHOR DETAILS
LIST OF TABLES
 
  • TABLE 1 RISK FACTOR ANALYSIS
  • TABLE 2 AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY OFFERING, 2020–2024 (USD)
  • TABLE 3 INDICATIVE PRICING TREND OF SMART LIGHTS AND LUMINAIRES, BY REGION, 2020–2024 (USD)
  • TABLE 4 SMART LIGHTING MARKET: ECOSYSTEM ANALYSIS
  • TABLE 5 SMART LIGHTING MARKET: MAJOR PATENTS, 2022–2024
  • TABLE 6 IMPORT SCENARIO FOR HS CODE 9405-COMPLIANT PRODUCTS, BY COUNTRY, 2018–2022 (USD MILLION)
  • TABLE 7 EXPORT SCENARIO FOR HS CODE 9405-COMPLIANT PRODUCTS, BY COUNTRY, 2018–2022 (USD MILLION)
  • TABLE 8 KEY CONFERENCES AND EVENTS, 2024–2025
  • TABLE 9 STREETLIGHT-ENABLED WIRELESS CONNECTIVITY IN GERMANY
  • TABLE 10 USE OF LATEST TECHNOLOGY TO ENHANCE AIRPORT OPERATIONS AND SAFETY
  • TABLE 11 USE OF LI-FI ACCELERATES DIGITALIZATION IN SCHOOLS
  • TABLE 12 MFN TARIFF FOR HS CODE 9405-RELATED PRODUCTS EXPORTED BY CHINA (2023)
  • TABLE 13 NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
  • TABLE 14 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
  • TABLE 15 ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
  • TABLE 16 ROW: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
  • TABLE 17 IMPACT ANALYSIS OF PORTER’S FIVE FORCES
  • TABLE 18 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR END-USE APPLICATIONS (%)
  • TABLE 19 KEY BUYING CRITERIA, BY END-USE APPLICATION
  • TABLE 20 SMART LIGHTING MARKET, BY INSTALLATION TYPE, 2020–2023 (USD MILLION)
  • TABLE 21 SMART LIGHTING MARKET, BY INSTALLATION TYPE, 2024–2029 (USD MILLION)
  • TABLE 22 NEW INSTALLATIONS: SMART LIGHTING MARKET, BY REGION, 2020–2023 (USD MILLION)
  • TABLE 23 NEW INSTALLATIONS: SMART LIGHTING MARKET, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 24 RETROFIT INSTALLATIONS: SMART LIGHTING MARKET, BY REGION, 2020–2023 (USD MILLION)
  • TABLE 25 RETROFIT INSTALLATIONS: SMART LIGHTING MARKET, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 26 SMART LIGHTING MARKET, BY OFFERING, 2020–2023 (USD MILLION)
  • TABLE 27 SMART LIGHTING MARKET, BY OFFERING, 2024–2029 (USD MILLION)
  • TABLE 28 HARDWARE: SMART LIGHTING MARKET, BY REGION, 2020–2023 (USD MILLION)
  • TABLE 29 HARDWARE: SMART LIGHTING MARKET, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 30 SMART LIGHTING MARKET, BY HARDWARE, 2020–2023 (USD MILLION)
  • TABLE 31 SMART LIGHTING MARKET, BY HARDWARE, 2024–2029 (USD MILLION)
  • TABLE 32 SMART LIGHTING MARKET, BY HARDWARE, 2020–2023 (THOUSAND UNITS)
  • TABLE 33 SMART LIGHTING MARKET, BY HARDWARE, 2024–2029 (THOUSAND UNITS)
  • TABLE 34 SMART LIGHTING MARKET FOR LIGHTING CONTROLS, BY COMPONENT, 2020–2023 (USD MILLION)
  • TABLE 35 SMART LIGHTING MARKET FOR LIGHTING CONTROLS, BY COMPONENT, 2024–2029 (USD MILLION)
  • TABLE 36 SOFTWARE: SMART LIGHTING MARKET, BY REGION, 2020–2023 (USD MILLION)
  • TABLE 37 SOFTWARE: SMART LIGHTING MARKET, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 38 SERVICES: SMART LIGHTING MARKET, BY REGION, 2020–2023 (USD MILLION)
  • TABLE 39 SERVICES: SMART LIGHTING MARKET, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 40 SMART LIGHTING MARKET FOR SERVICES, BY TYPE, 2020–2023 (USD MILLION)
  • TABLE 41 SMART LIGHTING MARKET FOR SERVICES, BY TYPE, 2024–2029 (USD MILLION)
  • TABLE 42 SMART LIGHTING MARKET, BY END-USE APPLICATION, 2020–2023 (USD MILLION)
  • TABLE 43 SMART LIGHTING MARKET, BY END-USE APPLICATION, 2024–2029 (USD MILLION)
  • TABLE 44 INDOOR SMART LIGHTING MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
  • TABLE 45 INDOOR SMART LIGHTING MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
  • TABLE 46 INDOOR SMART LIGHTING MARKET, BY REGION, 2020–2023 (USD MILLION)
  • TABLE 47 INDOOR SMART LIGHTING MARKET, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 48 OUTDOOR SMART LIGHTING MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
  • TABLE 49 OUTDOOR SMART LIGHTING MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
  • TABLE 50 OUTDOOR SMART LIGHTING MARKET, BY REGION, 2020–2023 (USD MILLION)
  • TABLE 51 OUTDOOR SMART LIGHTING MARKET, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 52 SMART LIGHTING MARKET, BY COMMUNICATION TECHNOLOGY, 2020–2023 (USD MILLION)
  • TABLE 53 SMART LIGHTING MARKET, BY COMMUNICATION TECHNOLOGY, 2024–2029 (USD MILLION)
  • TABLE 54 SMART LIGHTING MARKET FOR WIRED COMMUNICATION TECHNOLOGY, BY TYPE, 2020–2023 (USD MILLION)
  • TABLE 55 SMART LIGHTING MARKET FOR WIRED COMMUNICATION TECHNOLOGY, BY TYPE, 2024–2029 (USD MILLION)
  • TABLE 56 SMART LIGHTING MARKET FOR WIRED COMMUNICATION TECHNOLOGY, BY REGION, 2020–2023 (USD MILLION)
  • TABLE 57 SMART LIGHTING MARKET FOR WIRED COMMUNICATION TECHNOLOGY, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 58 SMART LIGHTING MARKET FOR WIRELESS COMMUNICATION TECHNOLOGY, BY TYPE, 2020–2023 (USD MILLION)
  • TABLE 59 SMART LIGHTING MARKET FOR WIRELESS COMMUNICATION TECHNOLOGY, BY TYPE, 2024–2029 (USD MILLION)
  • TABLE 60 SMART LIGHTING MARKET FOR WIRELESS COMMUNICATION TECHNOLOGY, BY REGION, 2020–2023 (USD MILLION)
  • TABLE 61 SMART LIGHTING MARKET FOR WIRELESS COMMUNICATION TECHNOLOGY, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 62 SMART LIGHTING MARKET, BY REGION, 2020–2023 (USD MILLION)
  • TABLE 63 SMART LIGHTING MARKET, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 64 NORTH AMERICA: SMART LIGHTING MARKET, BY COUNTRY, 2020–2023 (USD MILLION)
  • TABLE 65 NORTH AMERICA: SMART LIGHTING MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
  • TABLE 66 NORTH AMERICA: SMART LIGHTING MARKET, BY INSTALLATION TYPE, 2020–2023 (USD MILLION)
  • TABLE 67 NORTH AMERICA: SMART LIGHTING MARKET, BY INSTALLATION TYPE, 2024–2029 (USD MILLION)
  • TABLE 68 NORTH AMERICA: SMART LIGHTING MARKET, BY OFFERING, 2020–2023 (USD MILLION)
  • TABLE 69 NORTH AMERICA: SMART LIGHTING MARKET, BY OFFERING, 2024–2029 (USD MILLION)
  • TABLE 70 NORTH AMERICA: SMART LIGHTING MARKET, BY COMMUNICATION TECHNOLOGY, 2020–2023 (USD MILLION)
  • TABLE 71 NORTH AMERICA: SMART LIGHTING MARKET, BY COMMUNICATION TECHNOLOGY, 2024–2029 (USD MILLION)
  • TABLE 72 NORTH AMERICA: SMART LIGHTING MARKET, BY END-USE APPLICATION, 2020–2023 (USD MILLION)
  • TABLE 73 NORTH AMERICA: SMART LIGHTING MARKET, BY END-USE APPLICATION, 2024–2029 (USD MILLION)
  • TABLE 74 NORTH AMERICA: INDOOR SMART LIGHTING MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
  • TABLE 75 NORTH AMERICA: INDOOR SMART LIGHTING MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
  • TABLE 76 NORTH AMERICA: OUTDOOR SMART LIGHTING MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
  • TABLE 77 NORTH AMERICA: OUTDOOR SMART LIGHTING MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
  • TABLE 78 EUROPE: SMART LIGHTING MARKET, BY COUNTRY, 2020–2023 (USD MILLION)
  • TABLE 79 EUROPE: SMART LIGHTING MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
  • TABLE 80 EUROPE: SMART LIGHTING MARKET, BY INSTALLATION TYPE, 2020–2023 (USD MILLION)
  • TABLE 81 EUROPE: SMART LIGHTING MARKET, BY INSTALLATION TYPE, 2024–2029 (USD MILLION)
  • TABLE 82 EUROPE: SMART LIGHTING MARKET, BY OFFERING, 2020–2023 (USD MILLION)
  • TABLE 83 EUROPE: SMART LIGHTING MARKET, BY OFFERING, 2024–2029 (USD MILLION)
  • TABLE 84 EUROPE: SMART LIGHTING MARKET, BY COMMUNICATION TECHNOLOGY, 2020–2023 (USD MILLION)
  • TABLE 85 EUROPE: SMART LIGHTING MARKET, BY COMMUNICATION TECHNOLOGY, 2024–2029 (USD MILLION)
  • TABLE 86 EUROPE: SMART LIGHTING MARKET, BY END-USE APPLICATION, 2020–2023 (USD MILLION)
  • TABLE 87 EUROPE: SMART LIGHTING MARKET, BY END-USE APPLICATION, 2024–2029 (USD MILLION)
  • TABLE 88 EUROPE: INDOOR SMART LIGHTING MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
  • TABLE 89 EUROPE: INDOOR SMART LIGHTING MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
  • TABLE 90 EUROPE: OUTDOOR SMART LIGHTING MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
  • TABLE 91 EUROPE: OUTDOOR SMART LIGHTING MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
  • TABLE 92 ASIA PACIFIC: SMART LIGHTING MARKET, BY COUNTRY, 2020–2023 (USD MILLION)
  • TABLE 93 ASIA PACIFIC: SMART LIGHTING MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
  • TABLE 94 ASIA PACIFIC: SMART LIGHTING MARKET, BY INSTALLATION TYPE, 2020–2023 (USD MILLION)
  • TABLE 95 ASIA PACIFIC: SMART LIGHTING MARKET, BY INSTALLATION TYPE, 2024–2029 (USD MILLION)
  • TABLE 96 ASIA PACIFIC: SMART LIGHTING MARKET, BY OFFERING, 2020–2023 (USD MILLION)
  • TABLE 97 ASIA PACIFIC: SMART LIGHTING MARKET, BY OFFERING, 2024–2029 (USD MILLION)
  • TABLE 98 ASIA PACIFIC: SMART LIGHTING MARKET, BY COMMUNICATION TECHNOLOGY, 2020–2023 (USD MILLION)
  • TABLE 99 ASIA PACIFIC: SMART LIGHTING MARKET, BY COMMUNICATION TECHNOLOGY, 2024–2029 (USD MILLION)
  • TABLE 100 ASIA PACIFIC: SMART LIGHTING MARKET, BY END-USE APPLICATION, 2020–2023 (USD MILLION)
  • TABLE 101 ASIA PACIFIC: SMART LIGHTING MARKET, BY END-USE APPLICATION, 2024–2029 (USD MILLION)
  • TABLE 102 ASIA PACIFIC: INDOOR SMART LIGHTING MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
  • TABLE 103 ASIA PACIFIC: INDOOR SMART LIGHTING MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
  • TABLE 104 ASIA PACIFIC: OUTDOOR SMART LIGHTING MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
  • TABLE 105 ASIA PACIFIC: OUTDOOR SMART LIGHTING MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
  • TABLE 106 ROW: SMART LIGHTING MARKET, BY REGION, 2020–2023 (USD MILLION)
  • TABLE 107 ROW: SMART LIGHTING MARKET, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 108 ROW: SMART LIGHTING MARKET, BY INSTALLATION TYPE, 2020–2023 (USD MILLION)
  • TABLE 109 ROW: SMART LIGHTING MARKET, BY INSTALLATION TYPE, 2024–2029 (USD MILLION)
  • TABLE 110 ROW: SMART LIGHTING MARKET, BY OFFERING, 2020–2023 (USD MILLION)
  • TABLE 111 ROW: SMART LIGHTING MARKET, BY OFFERING, 2024–2029 (USD MILLION)
  • TABLE 112 ROW: SMART LIGHTING MARKET, BY COMMUNICATION TECHNOLOGY, 2020–2023 (USD MILLION)
  • TABLE 113 ROW: SMART LIGHTING MARKET, BY COMMUNICATION TECHNOLOGY, 2024–2029 (USD MILLION)
  • TABLE 114 ROW: SMART LIGHTING MARKET, BY END-USE APPLICATION, 2020–2023 (USD MILLION)
  • TABLE 115 ROW: SMART LIGHTING MARKET, BY END-USE APPLICATION, 2024–2029 (USD MILLION)
  • TABLE 116 ROW: INDOOR SMART LIGHTING MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
  • TABLE 117 ROW: INDOOR SMART LIGHTING MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
  • TABLE 118 ROW: OUTDOOR SMART LIGHTING MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
  • TABLE 119 ROW: OUTDOOR SMART LIGHTING MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
  • TABLE 120 MIDDLE EAST & AFRICA: SMART LIGHTING MARKET, BY REGION, 2020–2023 (USD MILLION)
  • TABLE 121 MIDDLE EAST & AFRICA: SMART LIGHTING MARKET, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 122 SMART LIGHTING MARKET: KEY STRATEGIES ADOPTED BY LEADING PLAYERS, 2021–2024
  • TABLE 123 SMART LIGHTING MARKET: DEGREE OF COMPETITION
  • TABLE 124 SMART LIGHTING MARKET: REGION FOOTPRINT
  • TABLE 125 SMART LIGHTING MARKET: INSTALLATION TYPE FOOTPRINT
  • TABLE 126 SMART LIGHTING MARKET: OFFERING FOOTPRINT
  • TABLE 127 SMART LIGHTING MARKET: END-USE APPLICATION FOOTPRINT
  • TABLE 128 SMART LIGHTING MARKET: COMMUNICATION TECHNOLOGY FOOTPRINT
  • TABLE 129 SMART LIGHTING MARKET: KEY STARTUPS/SMES
  • TABLE 130 SMART LIGHTING MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES
  • TABLE 131 SMART LIGHTING MARKET: PRODUCT LAUNCHES, AUGUST 2021–APRIL 2024
  • TABLE 132 SMART LIGHTING MARKET: DEALS, AUGUST 2021–APRIL 2024
  • TABLE 133 SIGNIFY HOLDING: COMPANY OVERVIEW
  • TABLE 134 SIGNIFY HOLDING: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 135 SIGNIFY HOLDING: PRODUCT LAUNCHES
  • TABLE 136 SIGNIFY HOLDING: DEALS
  • TABLE 137 SIGNIFY HOLDING: OTHERS
  • TABLE 138 LEGRAND: COMPANY OVERVIEW
  • TABLE 139 LEGRAND: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 140 LEGRAND: PRODUCT LAUNCHES
  • TABLE 141 LEGRAND: DEALS
  • TABLE 142 ACUITY BRANDS, INC.: COMPANY OVERVIEW
  • TABLE 143 ACUITY BRANDS, INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 144 ACUITY BRANDS, INC.: PRODUCT LAUNCHES
  • TABLE 145 ACUITY BRANDS, INC.: DEALS
  • TABLE 146 AMS-OSRAM AG: COMPANY OVERVIEW
  • TABLE 147 AMS-OSRAM AG: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 148 AMS-OSRAM AG: DEALS
  • TABLE 149 HONEYWELL INTERNATIONAL INC.: COMPANY OVERVIEW
  • TABLE 150 HONEYWELL INTERNATIONAL INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 151 HONEYWELL INTERNATIONAL INC.: DEALS
  • TABLE 152 ZUMTOBEL GROUP: COMPANY OVERVIEW
  • TABLE 153 ZUMTOBEL GROUP: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 154 ZUMTOBEL GROUP: DEALS
  • TABLE 155 WIPRO LIGHTING: COMPANY OVERVIEW
  • TABLE 156 WIPRO LIGHTING: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 157 WIPRO LIGHTING: DEALS
  • TABLE 158 LUTRON ELECTRONICS CO., INC: COMPANY OVERVIEW
  • TABLE 159 LUTRON ELECTRONICS CO., INC: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 160 LUTRON ELECTRONICS CO., INC: PRODUCT LAUNCHES
  • TABLE 161 IDEAL INDUSTRIES, INC. (CREE LIGHTING): COMPANY OVERVIEW
  • TABLE 162 IDEAL INDUSTRIES, INC. (CREE LIGHTING): PRODUCTS/SOLUTIONS/ SERVICES OFFERED
  • TABLE 163 IDEAL INDUSTRIES, INC. (CREE LIGHTING): PRODUCT LAUNCHES
  • TABLE 164 LEDVANCE GMBH: COMPANY OVERVIEW
  • TABLE 165 LEDVANCE GMBH: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 166 LEDVANCE GMBH: DEALS
LIST OF FIGURES
 
  • FIGURE 1 SMART LIGHTING MARKET SEGMENTATION
  • FIGURE 2 SMART LIGHTING MARKET: REGIONAL SCOPE
  • FIGURE 3 SMART LIGHTING MARKET: RESEARCH DESIGN
  • FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 1 (SUPPLY SIDE) – REVENUE GENERATED BY KEY PLAYERS
  • FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 2 (SUPPLY SIDE) – REVENUE ESTIMATION OF KEY PLAYER
  • FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 3 (DEMAND SIDE) —BOTTOM-UP ESTIMATION BASED ON REGION
  • FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
  • FIGURE 8 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
  • FIGURE 9 DATA TRIANGULATION
  • FIGURE 10 HARDWARE SEGMENT TO HOLD LARGEST MARKET SHARE DURING FORECAST PERIOD
  • FIGURE 11 WIRELESS COMMUNICATION TECHNOLOGY TO RECORD HIGHER CAGR DURING FORECAST PERIOD
  • FIGURE 12 ASIA PACIFIC TO DOMINATE MARKET DURING FORECAST PERIOD
  • FIGURE 13 EUROPE HELD LARGEST SHARE OF SMART LIGHTING MARKET IN 2023
  • FIGURE 14 RISING DEMAND FOR SMART LIGHTING IN INDOOR SETTINGS TO FUEL MARKET GROWTH
  • FIGURE 15 NEW INSTALLATIONS SEGMENT TO HOLD LARGER MARKET SHARE BETWEEN 2024 AND 2029
  • FIGURE 16 INDOOR SEGMENT TO LEAD MARKET DURING FORECAST PERIOD
  • FIGURE 17 INDIA TO REGISTER HIGHEST CAGR IN SMART LIGHTING MARKET DURING FORECAST PERIOD
  • FIGURE 18 SMART LIGHTING MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
  • FIGURE 19 SMART LIGHTING MARKET DRIVERS: IMPACT ANALYSIS
  • FIGURE 20 SMART LIGHTING MARKET RESTRAINTS: IMPACT ANALYSIS
  • FIGURE 21 SMART LIGHTING MARKET OPPORTUNITIES: IMPACT ANALYSIS
  • FIGURE 22 SMART LIGHTING MARKET CHALLENGES: IMPACT ANALYSIS
  • FIGURE 23 TRENDS AND DISRUPTIONS IMPACTING CUSTOMER BUSINESS
  • FIGURE 24 AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY OFFERING, 2024
  • FIGURE 25 SUPPLY CHAIN ANALYSIS: SMART LIGHTING MARKET
  • FIGURE 26 KEY PLAYERS IN SMART LIGHTING MARKET
  • FIGURE 27 INVESTMENT AND FUNDING SCENARIO FOR STARTUPS
  • FIGURE 28 PATENTS APPLIED AND GRANTED, 2014–2023
  • FIGURE 29 IMPORT DATA FOR HS CODE 9405, BY KEY COUNTRY, 2018–2022 (USD MILLION)
  • FIGURE 30 EXPORT DATA FOR HS CODE 9405, BY KEY COUNTRY, 2018–2022 (USD MILLION)
  • FIGURE 31 SMART LIGHTING MARKET: PORTER’S FIVE FORCES ANALYSIS
  • FIGURE 32 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS, BY END-USE APPLICATION
  • FIGURE 33 KEY BUYING CRITERIA, BY END-USE APPLICATION
  • FIGURE 34 SMART LIGHTING MARKET, BY INSTALLATION TYPE
  • FIGURE 35 NEW INSTALLTIONS SEGMENT TO HOLD LARGER MARKET SHARE DURING FORECAST PERIOD
  • FIGURE 36 SMART LIGHTING MARKET, BY OFFERING
  • FIGURE 37 HARDWARE SEGMENT TO DOMINATE MARKET DURING FORECAST PERIOD
  • FIGURE 38 LIGHTS AND LUMINAIRES SEGMENT TO ACCOUNT FOR LARGER MARKET SHARE DURING FORECAST PERIOD
  • FIGURE 39 INDOOR APPLICATION TO DOMINATE MARKET IN 2029
  • FIGURE 40 COMMERCIAL INDOOR APPLICATIONS TO HOLD LARGEST MARKET SHARE DURING FORECAST PERIOD
  • FIGURE 41 HIGHWAYS AND ROADWAYS LIGHTING TO LEAD OUTDOOR SMART LIGHTING MARKET DURING FORECAST PERIOD
  • FIGURE 42 SMART LIGHTING MARKET, BY COMMUNICATION TECHNOLOGY
  • FIGURE 43 WIRED COMMUNICATION TECHNOLOGY TO DOMINATE MARKET DURING FORECAST PERIOD
  • FIGURE 44 DALI SEGMENT TO LEAD WIRED COMMUNICATION TECHNOLOGY MARKET DURING FORECAST PERIOD
  • FIGURE 45 ZIGBEE SEGMENT TO DOMINATE WIRELESS COMMUNICATION TECHNOLOGY MARKET DURING FORECAST PERIOD
  • FIGURE 46 MARKET SEGMENTATION, BY REGION
  • FIGURE 47 ASIA PACIFIC TO RECORD HIGHEST CAGR IN SMART LIGHTING MARKET FROM 2024 TO 2029
  • FIGURE 48 NORTH AMERICA: SMART LIGHTING MARKET SNAPSHOT
  • FIGURE 49 EUROPE: SMART LIGHTING MARKET SNAPSHOT
  • FIGURE 50 ASIA PACIFIC: SMART LIGHTING MARKET SNAPSHOT
  • FIGURE 51 MIDDLE EAST & AFRICA TO HOLD LARGER SHARE OF ROW MARKET DURING FORECAST PERIOD
  • FIGURE 52 SMART LIGHTING MARKET: REVENUE ANALYSIS OF FIVE KEY COMPANIES, 2019–2023
  • FIGURE 53 SMART LIGHTING MARKET SHARE ANALYSIS, 2023
  • FIGURE 54 SMART LIGHTING MARKET: COMPANY VALUATION, 2024
  • FIGURE 55 SMART LIGHTING MARKET: FINANCIAL METRICS, 2023
  • FIGURE 56 SMART LIGHTING MARKET: COMPANY EVALUATION MATRIX (KEY PLAYERS), 2023
  • FIGURE 57 SMART LIGHTING MARKET: COMPANY FOOTPRINT
  • FIGURE 58 SMART LIGHTING MARKET: COMPANY EVALUATION MATRIX (STARTUPS/SMES), 2023
  • FIGURE 59 SIGNIFY HOLDING: COMPANY SNAPSHOT
  • FIGURE 60 LEGRAND: COMPANY SNAPSHOT
  • FIGURE 61 ACUITY BRANDS, INC.: COMPANY SNAPSHOT
  • FIGURE 62 AMS-OSRAM AG: COMPANY SNAPSHOT
  • FIGURE 63 HONEYWELL INTERNATIONAL INC.: COMPANY SNAPSHOT
  • FIGURE 64 ZUMTOBEL GROUP: COMPANY SNAPSHOT

The research report includes four major activities, estimating the size of the smart lighting market. Secondary research has been done to gather important information about the market and peer markets. To validate the findings, assumptions, and sizing with the primary research with industry experts across the supply chain is the next step. Both bottom-up and top-down approaches have been used to estimate the market size. After this, the market breakdown and data triangulation have been adopted to estimate the market sizes of segments and sub-segments

Secondary Research

During the secondary research phase, a diverse array of secondary sources were consulted to gather pertinent information for this study. These sources included corporate filings such as annual reports, press releases, investor presentations, and financial statements, as well as data from trade, business, and professional associations. Additionally, white papers, location-based marketing journals, accredited publications, articles authored by recognized experts, directories, and databases were utilized.
The primary objective of the secondary research was to obtain crucial insights into the industry's supply chain, market monetary flow, and the comprehensive landscape of key players. It also facilitated the segmentation of the market according to prevailing industry trends, reaching down to granular levels. Moreover, it involved the analysis of geographic markets and significant developments from both market and technology perspectives. The secondary data underwent meticulous collection and analysis to ascertain the overall market size, which was subsequently validated through primary research.

Primary Research

During the primary research phase, a variety of primary sources were utilized to gather qualitative and quantitative insights for this report, encompassing both the supply and demand sides. On the supply side, primary sources included industry experts such as chief executive officers (CEOs), vice presidents, marketing directors, technology and innovation directors, subject-matter experts (SMEs), consultants, and other key executives from prominent companies and organizations operating within the Smart lighting market.

Following a rigorous market engineering process, which entailed calculations for market statistics, breakdowns, size estimations, forecasting, and data triangulation, extensive primary research was conducted to collect, verify, and validate critical numerical data. This primary research aimed to identify segmentation types, industry trends, key players, competitive landscapes, and key market dynamics such as drivers, restraints, opportunities, and challenges. Additionally, it sought to understand the key strategies adopted by market players.

Drawing upon insights garnered from secondary research on the Smart lighting market, a thorough primary research effort was undertaken. Multiple primary interviews were conducted with experts from both the demand and supply sides across four key regions: North America, Europe, Asia Pacific, and ROW (Middle East, South America, and Africa). Approximately 25% of the primary interviews were conducted with representatives from the demand side, while 75% were with those from the supply side. Primary data collection was executed through questionnaires, emails, and telephonic interviews.

Smart Lighting Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

This report employed both top-down and bottom-up methodologies to evaluate and validate the size of the smart lighting market and its related submarkets. Key players in the smart lighting sector were identified through secondary research, while their market share in specific regions was determined through a blend of primary and secondary research. The comprehensive research approach included reviewing annual and financial reports of industry leaders and conducting interviews with key stakeholders, such as CEOs, VPs, directors, and marketing executives, to gather both quantitative and qualitative insights. Percentage shares, divisions, and breakdowns were sourced from secondary references and cross-checked with primary sources. All potential market influencers were examined through primary research and analyzed to compile the final quantitative and qualitative dataset. This data was consolidated and enriched with extensive analysis from MarketsandMarkets. The following figures illustrate the methodology utilized to estimate the overall market size for this study.

Market Size Estimation Methodology-Bottom-up Approach

The overall size of the smart lighting market was determined using a bottom-up approach, which involved calculating the market size based on the revenue generated by key players and their market share. A thorough analysis of key players in the smart lighting market was conducted, and market size estimations were derived by considering the size of their smart lighting offerings.

Smart Lighting Market Size, and Bottom-up Approach

Market Size Estimation Methodology-Top Down Approach

The top-down methodology utilized the overall market size as the foundation for determining individual market sizes, following the market segmentation with percentage allocations derived from primary and secondary research. To calculate specific market segment sizes, the immediate parent market size was utilized in applying the top-down approach. Additionally, the bottom-up approach was employed to validate segment sizes using data obtained from secondary research sources. Company market share estimates were utilized to confirm revenue distributions previously used in the bottom-up approach. Through a data triangulation process and validation via primary research sources, this study conclusively determined and confirmed both the overall parent market size and the size of each individual market segment.

Smart Lighting Market Size, and Top Down Approach

Data Triangulation

After arriving at the overall market size from the market size estimation process explained above, the total market was split into several segments and subsegments. Data triangulation was employed to complete the market engineering process and arrive at the exact statistics for all segments and subsegments. The data has been triangulated by studying various factors and trends from both the demand and supply sides. Along with this, the market has been validated using both the top-down and bottom-up approaches.

Market Definition

Smart lighting, characterized by its ability to be controlled remotely—often through smartphone applications—offers a plethora of features including timers, schedules, motion detection, voice commands, and color adjustments. Rooted in the concept of self-monitoring, analysis, and reporting technology (SMART), smart lighting systems are engineered to transcend the basic functionality of illumination. They enhance security, safety, convenience, health, wellness, and energy efficiency. Moreover, these systems seamlessly integrate with other smart home devices and can be managed through various wireless transmissions, such as Wi-Fi radios and Bluetooth. The anticipated significant growth of the smart lighting market in the upcoming years is fuelled by the escalating popularity and acceptance of smart home technology.
Smart lighting entails lighting systems controlled by network-driven control systems, ensuring the right amount of light at the right place and time. Its primary aim is to enhance energy efficiency, leading to long-term cost and power savings. Comprising integrated software and hardware, smart lighting systems automatically adjust lighting based on predefined parameters. It includes various hardware devices such as lights, luminaires, and lighting control components, utilizing different communication technologies to facilitate device interaction as per application requirements. Employing both wired and wireless communication technologies, these systems overcome the cost and complexity limitations associated with conventional wired controls. Wireless networking elevates the intelligence of modern lighting control systems, enabling companies to achieve cost savings and operate in an environmentally friendly manner. Smart lighting solutions encompass indoor applications like residential, commercial, and industrial settings, as well as outdoor applications such as highways, roadways, architectural lighting, and public spaces.

Key Stakeholders

  • Raw material and component suppliers
  • Communication network providers
  • Smart lighting device manufacturers
  • Original equipment manufacturers
  • Semiconductor component suppliers
  • Analysts and strategic business planners
  • Venture capitalists and start-ups
  • Research laboratories and intellectual property (IP) companies
  • Technology standards organizations, forums, alliances, and associations
  • Hardware vendors
  • Software integrators
  • Smart lighting solutions-related service providers
  • End users
  • Government bodies such as regulatory authorities and policymakers

The main objectives of this study are as follows:

  • To define, estimate, and forecast the smart lighting market's value, the segmentation includes hardware, software, and services offerings, wired and wireless communication technologies, indoor and outdoor applications, and new and retrofit installation types, across different geographical regions.
  • To estimate and project market size, in terms of value, are conducted for various segments within four regions: North America, Europe, Asia Pacific, and the Rest of the World (ROW).
  • To provide detailed insights regarding driver, restraints, opportunities, and challenges influencing the growth of the market
  • To analyze emerging applications and standards in the smart lighting market.
  • To examine manufacturers of smart lighting products, their strategies, production plans, and the overall supply chain, including material and component suppliers.
  • To strategically analyze the micromarkets1 with respect to individual growth trends, prospects, and contributions to the overall market
  • To analyze the market opportunities for stakeholders and a comprehensive competitive landscape analysis is provided.
  • To analyze competitive developments, such as partnership, acquisition, agreement, collaboration, and product launches.
  • To strategically profile key players a thorough examination of their market share, ranking, and core competencies.

Available Customizations:

With the given market data, MarketsandMarkets offers customizations according to the specific requirements of companies. The following customization options are available for the report:

  • Country-wise Information for Asia Pacific
  • Detailed analysis and profiling of additional market players (up to five)

Previous Versions of this Report

Smart Lighting Market with COVID-19 Impact Analysis by Offering (Hardware, Software and Services), Installation Type (New Installations and Retrofit Installations), End Use Application, Communication Technology, and Geography - Global Forecast to 2026

Report Code SE 2506
Published in Jul, 2021, By MarketsandMarkets™

Smart Lighting Market by Offering (Hardware: Lights & Luminaires, Lighting Controls; Software, and Services), Communication Technology (Wired and Wireless), Installation Type, End-use Application, and Geography - Global Forecast to 2025

Report Code SE 2506
Published in Feb, 2020, By MarketsandMarkets™

Smart Lighting Market by Offering (Hardware (Lights & Luminaires, Lighting Controls), Software, and Services), Communication Technology (Wired and Wireless), Installation Type, Application Type, and Geography - Global Forecast to 2023

Report Code SE 2506
Published in Feb, 2018, By MarketsandMarkets™

Smart Lighting Market by Product Type (Smart Bulbs, Fixtures, and Lighting Controls), Light Source (Fluorescent, LED, HID), Communication Technology (Wired, and Wireless), Software & Service, Application, and Geography - Global Forecast to 2022

Report Code SE 2506
Published in Sep, 2016, By MarketsandMarkets™

Smart Lighting Market by Connectivity Technologies (Wired & Wireless), End Users, by Lighting Types (Fluorescent Lighting, LED Lamps, & Others), by Components (Control & Communication, Luminaries & Fixtures), and Geography - Global Forecast to 2020

Report Code SE 2506
Published in Aug, 2015, By MarketsandMarkets™

Smart Lighting Market by Component & Application - 2020| Marketsandmarkets

Report Code SE 2506
Published in May, 2014, By MarketsandMarkets™

Smart Lighting Market by Component (Relays, Occupancy Sensors, Actuators, Transmitters, Receivers), Lighting Type (LED, FL, CFL, HID), Connectivity Technology (Wired, Wireless), Application (Commercial, Industrial, Public, Government, Residential) & Geography - Global Forecast & Analysis to 2014-2020

Report Code SE 2506
Published in Mar, 2013, By MarketsandMarkets™
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Growth opportunities and latent adjacency in Smart Lighting Market

User

Sep, 2019

I am very much interested in understanding market revenue and forecast in terms of $ and #units for smart lighting broken down by segments (commercial, industrial, outdoor, residential), and by lighting technology (LED, CFL, HID, etc). Is this information available as a part of this report? .

Zhang

Jul, 2022

I am developing a wireless smart lighting switch for home usage and want to sell it around the world out of china. I would like to know where in the world could that kind of products be best sold to, the market size right now, and the possible prospect, especially for Europe. It’s not in a hurry, no strict timeline, It’s a new tech of controlling any light anywhere using any device connected to the lighting device wirelessly. It’s not decided for the exact market budget including information taking. Only after the product had been developed successfully..

User

Sep, 2019

I'm wireless controller manufacturersand hence, looking specifically into wirelessly connected light bulbs. Do you have any information about this? Also, is the report contain market share analysis of varoius lighting controls manufacturers by region? .

User

Sep, 2019

I am currently a student at the University of Texas. I am researching the smart lighting industry. My group and I have to do a presentation on the market and how it will be affected with in the near future. I feel this article would be very helpful and would like to read it for some more specific details. I am specifically looking forward the market projections for US by region/states for smart lighitng space. Could you share such infomration? If yes, at what cost?.

User

Nov, 2019

My company is the distributors of smart lighting product lines. I am researching about smart lighting market. I am specifically looking for market information about Southeast Asia and Africa Markets. Is your study include detailed information for these 2 regions? If it is not readily available how much time will you need for this?.

User

Mar, 2019

I’m a researcher and analysing smart lightning market in Sweden, Russia and Denmark, compare the demands in them. I am also looking for the market drivers and barrieers within these countries. I feel that your report will be the greatest source of information for me to prepare! Does your report has information about these countries? at what price? .

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