Smart Lighting and control Systems Market Size, Share Global Analysis Report, 2020–2026

Industry Insights

According to the report published by Facts & Factors, the global Smart Lighting and control Systems market size was worth around USD 43.3 billion in 2019 and is predicted to grow around USD 146 billion by 2026 with a compound annual growth rate (CAGR) of roughly 18.87% between 2020 and 2026. The report analyzes the global Smart Lighting and control Systems market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the Smart Lighting and control Systems market.

The smart lighting and control systems market report analyzes and notifies the industry statistics at the global as well as regional and country levels in order to acquire a thorough perspective of the entire smart lighting and control systems market.

The historical and past insights are provided for FY 2016 to FY 2019 whereas projected trends are delivered for FY 2020 to FY 2026. The quantitative and numerical data is represented in terms of value (USD Million) from FY 2016 – 2026.

This specialized and expertise-oriented industry research report scrutinizes the technical and commercial business outlook of the smart lighting and control systems industry. The report analyzes and declares the historical and current trends analysis of the Smart Lighting and Control Systems industry and subsequently recommends the projected trends anticipated to be observed in the smart lighting and control systems market during the upcoming years.

Key Insights from Primary Research

• As per our primary analysis, the smart lighting and control systems market is set to grow in upcoming years owing to the high penetration of IoT enable lighting systems.
• It was established through primary research that the wireless connectivity segment is anticipated to witness the highest growth rate.
• The commercial application segment holds a maximum share of around 35% in 2018.
• On the basis of end-user segmentation, the light-emitting diodes category held the leading share of the market.

Key Recommendations from Analysts

• As per our analysts, smart lighting and control systems market revenue was around USD 43.3Billion in 2019.
• Growing at a CAGR around 19%, smart lighting and control systems market provides numerous opportunities to grow in upcoming years owing to factors such as significant penetration of AI technology and smartphones.
• In the smart lighting and control systems market, the wired connectivity segment was valued for the major portion of the pie in 2018.
• Supportive government policies and rising awareness regarding energy management may take the market value to around USD 146Billion in 2026.

The quantitative data is further underlined and reinforced by comprehensive qualitative data which comprises various across-the-board market dynamics. The rationales which directly or indirectly impact the smart lighting and control systems industry are exemplified through parameters such as growth drivers, restraints, challenges, and opportunities among other impacting factors.

Throughout our research report, we have encompassed all the proven models and tools of industry analysis and extensively illustrated all the key business strategies and business models adopted in the smart lighting and control systems industry. The report provides an all-inclusive and detailed competitive landscape prevalent in the smart lighting and control systems market.

The report utilizes established industry analysis tools and models such as Porter’s Five Forces framework to analyze and recognize critical business strategies adopted by various stakeholders involved in the entire value chain of the smart lighting and control systems industry. The Smart Lighting and Control Systems market report additionally employs SWOT analysis and PESTLE analysis models for further in-depth analysis.

The report study further includes an in-depth analysis of industry players' market shares and provides an overview of leading players' market position in the smart lighting and control systems sector. Key strategic developments in the smart lighting and control systems market competitive landscape such as acquisitions & mergers, inaugurations of different products and services, partnerships & joint ventures, MoU agreements, VC & funding activities, R&D activities, and geographic expansion among other noteworthy activities by key players of the smart lighting and control systems market are appropriately highlighted in the report.

The smart lighting and control systems market research report deliver an acute valuation and taxonomy of the smart lighting and control systems industry by practically splitting the market on the basis of different types, applications, and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026.

The regional segmentation of the smart lighting and control systems industry includes the complete classification of all the major continents including North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Further, country-wise data for the smart lighting and control systems industry is provided for the leading economies of the world.

Surging adoption of the Internet of Things (IoT) in conjunction with smartphones in order to control smart lighting and control systems is anticipated to drive the market growth during the forecast period. The IoT market has grown significantly over the past few years and uplifted the demand for connected devices.

The evolution of connected devices has also transformed the lighting solutions into a smarter one. For instance, the modern lighting solutions are based on the Light Emitting Devices (LED) technology that is equipped with advanced sensing and dynamic spectral light reproduction capabilities.

Furthermore, these smart LEDs are supported with Wi-Fi gateways to easily connect with the system and control the switching mode of the devices from any place. Moreover, the government initiatives for the application of connected devices in the public administration sector such as street lighting control, waste management, and educational classroom management is one of the major factors contributing to the growth of the IoT devices in the smart lighting and control systems market.

Report Scope

The smart lighting and control systems market is segmented based on the lighting source, connectivity, and end-users.  On the basis of lighting source segmentation, the market is classified into fluorescent lamps, high-intensity discharge lamps, and light-emitting diodes. In terms of connectivity segmentation, the market is bifurcated into wired and wireless. Further, the end-user segment of the smart lighting and control systems are residential, commercial, industrial, and government sectors.

Some of the major players operating in the smart lighting and control systems market, but not restricted to include

• Signify
•  General Electric
•  LiFI Labs Inc.
•  Lightwave PLC
•  Honeywell International Inc.
•  Belkin International Inc.
•  Lutron Electronics Company Inc.
•  Acuity Brands Lighting Inc

The taxonomy of the smart lighting and control systems market by its scope and segmentation is as follows:

Global Smart Lighting and Control Systems Market: By Lighting Source Segmentation Analysis

• Fluorescent Lamps
• High-Intensity Discharge Lamps (HIDs)
• Light Emitting Diodes (LEDs)

Global Smart Lighting and Control Systems Market: By Connectivity Segmentation Analysis

• Wired
• Wireless

Global Smart Lighting and Control Systems Market: By End-User Segmentation Analysis

• Residential
• Commercial
• Industrial
• Government Sector

Global Smart Lighting and Control Systems Market: Regional Segmentation Analysis (Customizable)

• North America
  • The U.S.
  • Canada
• Europe
  • Germany
  • The UK
  • France
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa