Smart Lighting Industry

According to a research report "Smart Lighting Market 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" The smart lighting market is expected to reach USD 18.0 billion by 2029 from USD 9.5 billion in 2024, at a CAGR of 13.8% during the 2024-2029 period. Various companies are investing in smart lighting which gives an opportunity for growth in the smart lighting market. The smart lighting market is continuously developing, with the presence of multiple players. Currently Europe is contributing significantly to the growth of the smart lighting market. Similarly, the Asia Pacific, North America and RoW regions are expected to be the growing market for the forecasted period.

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The hardware segment currently leads the smart lighting industry and is expected to have the largest market share in the forecast period.

Smart lighting systems encompass hardware components such as luminaires, sensors, switches, dimmers, relays, controllers, and gateways. The hardware segment of the smart lighting market is further categorized into lights and luminaires and lighting controls. The adoption of smart lighting controls has seen a steady increase as a measure to curb energy consumption. Moreover, heightened awareness regarding energy management has propelled the growth of the lighting controls market. Additionally, governmental regulations mandating the use of energy-efficient products have spurred the adoption of lighting controls. However, the growth of these systems has been constrained by the high installation costs and lengthy payback periods associated with LED lights.

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.

In January 2024, at the Consumer Electronics Show in Las Vegas, 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.

The wireless segment of the smart lighting industry is predicted to register the highest CAGR in the forecast period.

In a wireless system, control devices establish communication wirelessly using radio frequency (RF) waves and other technologies, negating the necessity for physical wiring. Wireless communication protocols are essential for facilitating communication among evolving technologies. Although still in its nascent stages of adoption, wireless technology is increasingly viewed as the future due to its capacity to eliminate wiring requirements and enable the integration of additional monitoring and control points. Among the prevalent wireless technologies for smart lighting are ZigBee, BLE, EnOcean, Wi-Fi, 6LoWPAN, and wireless hybrid protocols. Wireless connectivity presents novel opportunities for energy and cost savings, particularly in commercial settings where a vast network of lights needs to be managed within a confined area.

In July 2021, Signify Holding acquired Telensa Holdings Ltd, a UK-based specialist in wireless monitoring and control systems tailored for smart cities. With this acquisition, Signify Holding incorporates a narrow-band and TALQ-compliant solution into its portfolio of feature-rich, open, and secure systems. This strategic move allows Signify Holding to expand its customer base, offering affordable smart city infrastructure solutions utilizing unlicensed radio space. Telensa will retain its brand name and continue to market its systems independently.

In March 2021, Honeywell International Inc. entered into an agreement to acquire a controlling interest in Fiplex Communications, Inc., a Miami-based company specializing in in-building communication systems. Fiplex's products, including bi-directional amplifiers (BDAs), ensure uninterrupted radio coverage within buildings, enhancing the safety of first responders and occupants in challenging environments. This acquisition will broaden Honeywell International Inc.’s offerings in in-building connectivity and communication solutions, with Fiplex's solutions serving as a platform for innovation within Honeywell International Inc. wireless portfolio.

Establishing guidelines for enhanced lighting system efficiency.

A standard protocol establishes guidelines for data representation, signaling, authentication, and error detection to facilitate the connection, communication, and data exchange between computing or control endpoints. Digital protocols can be unidirectional or bidirectional. Bidirectional protocols enable devices or luminaires to share data for effective communication. Currently, ZigBee and DALI are the primary protocols used in lighting solutions. Implementing standard protocols like KNX and DALI for control applications has enhanced the operational efficiency of lighting systems.

Next-generation standard protocols evolve by incorporating previous generation standards like the European Home Systems Protocol (EHS), BatiBUS, and the European Installation Bus (EIB or Instabus). With standard protocols, lighting systems can synchronize and connect with other automation systems, promoting better device compatibility and simplifying installation processes for smart lighting. Existing standards focus on making components compatible with control systems to facilitate their integration into smart lighting systems. Additionally, adopting standard protocols helps to lower installation costs.

Smart lighting industry for the Asia Pacific region to register the highest CAGR between 2024 and 2029 forecast.

The Asia Pacific region is poised to emerge as the fastest-growing market for smart lighting systems in the forthcoming forecast period. With its vast potential, the smart lighting market is expected to gain widespread acceptance among consumers in the Asia Pacific region, becoming an integral part of digitized households. The escalating construction endeavors across Asia Pacific significantly contribute to the market's expansion, presenting numerous opportunities for energy-efficient and advanced lighting systems. China and India are forecasted to witness the construction of approximately 200 million and 18 million homes, respectively, paving the way for novel energy-efficient lighting solutions and advanced lighting technologies.

Moreover, the surge in smart city and infrastructure projects initiated by governments is expected to further catalyze the demand for energy-efficient lighting solutions and advanced lighting systems in the coming years. Government initiatives offering subsidized LED lights are anticipated to play a pivotal role in propelling the accelerated growth of the Asia Pacific smart lighting market.

Top smart lighting industry companies - Key Players

The report profiles 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 Co., Inc (US), IDEAL INDUSTRIES, INC. (US) (Cree Lighting), LEDVANCE GmbH (Germany), Current (US), Savant Systems, Inc (US), Inter IKEA Systems B.V. (Netherlands), Dialight (UK), Schneider Electric (France), ABB (Switzerland), Lightwave (UK), RAB Lighting Inc. (US), Synapse Wireless Inc. (US), Panasonic Corporation (Japan), Leviton Manufacturing Co., Inc. (US), Syska (India), BUILDING ROBOTICS INC. (BRI), A SIEMENS COMPANY (US), Helvar (Finland), LIFX (US), Nanoleaf (Canada), Sengled GmbH (Germany), and TVILIGHT Projects B.V. (Netherlands).

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