Global Smart Lighting Market

MARKET SCOPE:

The global Smart Lighting market is projected to grow significantly, registering a CAGR 20.1% during the forecast period (2024 – 2032).

Smart lighting refers to an advanced lighting system that incorporates technology, connectivity, and intelligence to provide enhanced control, efficiency, and customization of lighting environments. Unlike traditional lighting systems, smart lighting allows users to remotely monitor, manage, and automate lighting fixtures through various devices such as smartphones, tablets, voice-activated assistants, or centralized control systems. With a growing emphasis on energy conservation and sustainability, there is increased demand for lighting solutions that offer energy-efficient features, and smart lighting meets this demand. Advances in LED technology, connectivity, and sensor capabilities have made smart lighting more accessible and appealing to consumers. The rise of smart homes and the desire for integrated, connected living spaces drive the demand for smart lighting solutions that can be part of a larger home automation ecosystem. Consumers value products that offer customization options. Smart lighting allows users to tailor their lighting environments to match specific preferences and activities. Growing awareness and adoption of smart technologies, including voice-activated assistants and IoT devices, contribute to the demand for smart lighting. In urban settings, the integration of smart lighting as part of broader smart city initiatives, including intelligent street lighting, enhances safety, efficiency, and sustainability. Some smart lighting systems offer security-related features, such as motion-sensing for outdoor lighting, contributing to increased demand for both residential and commercial applications.

MARKET OVERVIEW:

Driver: Growing demand for integration with IoT and smart building systems is driving the market growth.

The integration of smart lighting with broader Internet of Things (IoT) platforms and smart building systems presents opportunities for creating holistic and interconnected solutions. Lighting systems that seamlessly communicate with other smart devices contribute to comprehensive building automation. Integration with IoT platforms allows smart lighting systems to be part of a broader ecosystem of connected devices within a building. This leads to comprehensive building automation, where lighting interacts seamlessly with other systems such as heating, ventilation, air conditioning (HVAC), security, and occupancy monitoring. Integrated smart building systems can optimize energy usage across different functionalities. Smart lighting, when synchronized with HVAC and occupancy data, can contribute to more efficient energy management. For example, lights can automatically adjust based on occupancy and daylight conditions, reducing unnecessary energy consumption. By integrating with occupancy sensors and building management systems, smart lighting can provide valuable insights into space utilization. This data can be used to optimize office layouts, allocate resources efficiently, and enhance overall space management. Integrated smart building systems enable the creation of customized user experiences. For instance, when an employee enters a room, the lighting, temperature, and other environmental factors can adjust automatically based on their preferences, enhancing comfort and productivity.

Opportunities: Growing connected homes and smart cities is expected to pave the way for the market growth in the upcoming years.

The adoption of smart lighting in homes and cities continues to grow. Opportunities exist for smart lighting solutions that integrate with broader smart home ecosystems and contribute to the development of connected cities through intelligent street lighting. There is a growing demand for smart lighting solutions that offer convenience, energy efficiency, and customization options for homeowners. Smart bulbs, switches, and dimmers that can be easily integrated into existing lighting fixtures and controlled remotely via smartphone apps or voice assistants. Lighting systems with advanced features such as color tuning, scene creation, and scheduling to enhance ambiance and meet individual preferences. Integration with other smart home devices and ecosystems, allowing for seamless control and automation of lighting alongside other connected devices such as thermostats, security systems, and entertainment systems. Municipalities and urban planners are increasingly turning to smart lighting solutions to improve energy efficiency, enhance safety, and create more livable cities. Intelligent street lighting systems equipped with sensors and smart controls to adjust lighting levels based on factors like pedestrian activity, traffic flow, and environmental conditions. Integration with city-wide IoT platforms for data collection, analysis, and optimization of street lighting infrastructure. Implementation of energy-saving measures such as dimming during off-peak hours, adaptive lighting based on real-time conditions, and remote monitoring and management to reduce operational costs and environmental impact.

COVID IMPACT:

The COVID-19 pandemic has had several impacts on various industries, including the smart lighting sector. While the effects have been diverse, some notable changes and trends have emerged in relation to smart lighting during and after the pandemic. The pandemic has heightened awareness of the importance of a healthy indoor environment. Health-centric lighting solutions, such as those supporting circadian rhythms or providing UV-C disinfection capabilities, have gained attention as organizations and individuals seek ways to enhance well-being. With remote work becoming more prevalent, organizations have been exploring ways to optimize office spaces. Smart lighting systems with advanced occupancy sensing capabilities help in understanding space utilization patterns, enabling better energy management and resource allocation. The desire for touchless interactions to reduce the risk of virus transmission has driven interest in touchless control solutions for smart lighting. Voice-activated controls, motion sensors, and automation scenarios have become more popular as users seek hands-free options. As more people work from home, the demand for smart lighting solutions that support adaptive lighting in home offices has increased. Lighting systems that can adjust color temperatures and intensity based on the time of day to support productivity and well-being have gained popularity. The need for remote monitoring and control has become more apparent during the pandemic. Smart lighting systems that allow users to manage lighting settings, check energy usage, and receive alerts remotely have become essential for facility managers and homeowners alike. Smart lighting systems have evolved to incorporate enhanced safety and security features. For example, some systems can simulate occupancy when a space is vacant to deter potential intruders. Security lighting scenarios can be easily adjusted through smart controls.

SEGMENTATION ANALYSIS:

The Lighting Controls segment is anticipated to grow significantly during the forecast period

Smart lighting refers to lighting systems that incorporate advanced technologies, connectivity, and automation for improved functionality, energy efficiency, and user control. Smart lighting fixtures are often equipped with communication modules that enable them to connect to a network. This can be achieved through wireless protocols like Zigbee, Wi-Fi, Bluetooth, or wired connections. Smart lighting systems can automate various aspects of lighting, such as adjusting brightness levels, changing color temperatures, and responding to environmental conditions or user preferences. Users can control smart lighting systems through mobile apps, voice commands, or centralized control panels. This allows for remote management and customization of lighting settings. Smart lighting fixtures may include built-in sensors, such as motion sensors, occupancy sensors, and ambient light sensors. These sensors contribute to adaptive lighting control and energy savings.

The Luminaries segment is anticipated to grow significantly during the forecast period

Smart lighting luminaires refer to fixtures that incorporate advanced technologies for control, connectivity, and automation. These luminaires are designed to enhance energy efficiency, provide intelligent lighting solutions, and contribute to the development of smart and connected environments. Smart lighting luminaires are equipped with embedded intelligence, including sensors, microcontrollers, and communication modules. This integration allows for autonomous and responsive lighting behavior. Luminaires in the smart lighting segment often feature built-in sensors such as motion sensors, occupancy sensors, and ambient light sensors. These sensors enable adaptive lighting control based on factors like occupancy, daylight levels, and user preferences.

REGIONAL ANALYSIS:

The North American region is set to witness significant growth during the forecast period.

The adoption of smart lighting systems in North America has been on the rise, driven by advancements in technology, energy efficiency goals, and the growing trend of creating smart and connected buildings. Smart lighting refers to lighting systems that can be controlled, monitored, and automated using technologies such as sensors, wireless communication, and smart controls. The smart lighting market in North America has been experiencing significant growth due to the increasing awareness of energy efficiency, sustainability, and the benefits of smart building technologies. Many cities and organizations in North America have been focusing on energy efficiency initiatives, and smart lighting plays a crucial role in achieving energy-saving goals. The ability to dim or turn off lights based on occupancy and daylight levels contributes to reduced energy consumption. Smart lighting systems often integrate with the Internet of Things (IoT), allowing for seamless communication and control. This integration enables features such as remote monitoring, data analytics, and automation. The concept of connected buildings, where various systems, including lighting, HVAC, and security, are integrated, has gained traction. Smart lighting is a key component of these connected building ecosystems. Advanced sensors, such as motion sensors and ambient light sensors, are commonly integrated into smart lighting systems. These sensors, combined with intelligent controls, enable adaptive lighting solutions based on occupancy and environmental conditions. Some cities in North America have been implementing smart city initiatives, and smart lighting is often a foundational element. Smart street lighting, in particular, can enhance safety, reduce energy consumption, and provide additional functionalities like environmental monitoring.

COMPETITIVE ANALYSIS

The global Smart Lighting market is reasonably competitive with mergers, acquisitions, and Type launches. See some of the major key players in the market.

Control4 Corp. (Snap One LLC)

Lutron Electronics

• January 2023: Lutron intends to release new products and modernize current ones so that AV specialists may offer superior, cutting-edge lighting control and let customers realize their interior design goals without having to compromise on experience or aesthetics.

Signify Holding

• February 2023: In the industrial parks of Huanggang City, Hubei Province, China, Signify supplied LED street lighting, intelligent poles, and a networked lighting system. The city decided to use the Interact connected lighting system, Philips LED streetlights, and BrightSites smart poles from Signify. This combo offers two-way communication via a cloud-based platform along with superior, energy-efficient LED illumination.

Wyze Labs Inc.

Sengled

GE Lighting (Savant Systems Inc.)

Inter IKEA Holding BV

Acuity Brands Inc.

Hubbell Incorporated

Crestron Electronics Inc.

Insteon (Smartlabs Inc.)

EGLO Leuchten GmbH

Eve Systems GmbH

LG Electronics Inc.

Wiz Connected Lighting Co. Ltd

Wipro Lighting Limited

Xiaomi Corporation

LIFX (Feit Electric)

Scope of the Report

By Type

Software

Service

By Product Type

Luminaries

Lighting Controls

By Light Source

LED

FL

HID

By Region

North America (the United States & Canada)

Europe (Germany, UK, France, Spain, Italy, and the Rest of Europe)

Asia Pacific (China, Japan, India, and Rest of Asia Pacific)

Rest of the World (the Middle East & Africa, Latin America, and Rest of The World)

Keys reasons to purchasing this report

It provides a technological development map over time to understand the industry’s growth rate and indicates how the Smart Lighting market is evolving.

The report offers a dynamic method to various factors that drive or restrain the growth of the market and specifies which Smart Lighting submarket will be the main driver of the overall market from 2024 to 2032.

It renders a definite analysis of changing competitive dynamics and stipulates the leading players and what are their prospects over the forecast period.

It builds a nine-year estimate based on how the market is predicted to grow and shows what will market shares of the global region change by 2032 and which country will lead the market in 2032.