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Smart Lighting Market Trends Analysis, Top Manufacturers, Shares, Growth Opportunities, Statistics & Forecast to 2025

Author : Ronak Bora | Published Date : 2020-09-08 

Smart Lighting Market will surpass USD 23 billion by 2025. The growth of the market is driven by the increasing adoption of LED lighting across the globe. The high performance and the energy-efficient nature of LED lighting are driving their adoption across the indoor & outdoor lighting applications. The decline in the average selling price of LED lamps also serves as the major driver for market growth. The stringent government regulations to restrict the use of inefficient lighting technologies are also accelerating the adoption of smart lighting solutions.

The increasing smart city development programs are also augmenting the demand for smart lighting solutions. As the worldwide population is increasing and the energy consumption is rising, governments & regulatory authorities across the globe are shifting toward advanced technology solutions to optimize energy consumption. As a result, governments are investing heftily in smart & connected technology solutions to automate operations and reduce energy consumption. This is encouraging the adoption of smart lighting solutions across the globe.

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Rise in smart city projects and innovations in home automation are driving smart lighting market forecast significantly. The growing urban population has triggered initiatives by the government to provide access to efficient LED lights, along with deploying AI and IoT in building automation systems for commercial, residential and industrial spaces. The Ministry of Housing and Urban Affairs in India had set up a smart cities mission with a view of developing over 100 cities in the country over a span of five years.

Europe is expected to evolve as one of the most significant revenue pockets for smart lighting market, owing to the significant number of smart city projects and increased adoption of smart LED lighting systems. The European Union innovation partnership on smart cities and communities is a program established by the European Commission that brings together small businesses, industries and cities together. The aim of the program is to enhance the urban lifestyle through sustainable solutions and addresses specific challenges across varied policy areas such as mobility, energy and transport.

Additionally, Europe is witnessing a rise in usage of LED owing to widespread awareness of sustainable sources of energy.  Reports estimate that global smart lighting market size will surpass USD 23 billion valuation by 2025, with Europe accounting for a notable portion of the overall share.

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Regional authorities are increasingly partnering with technology companies to implement their vision of a smart and connected city. Intel and the City of San Jose, California have collaborated on a public-private project to deploy the company’s smart city demonstration platform to boost the Green Vision initiative of the city. Smart city infrastructure facilitates efficiency, cost reduction and provides an improved livelihood for city occupants. Rise in smart city initiatives worldwide has led to increased impetus for smart lighting market size.

Table of Contents (ToC) of the report:

Chapter 1. Methodology & Scope

1.1. Methodology

1.1.1. Initial data exploration

1.1.2. Statistical model and forecast

1.1.3. Industry insights and validation

1.1.4. Scope

1.1.5. Definitions

1.1.6. Methodology & forecast parameters

1.2. Data Sources

1.2.1. Secondary

1.2.2. Primary

Chapter 2. Executive Summary

2.1. Global smart lighting market 360° synopsis, 2014 - 2025

2.1.1. Business trends

2.1.2. Regional trends

2.1.3. Component trends

2.1.3.1. Hardware trends

2.1.3.2. Software trends

2.1.3.3. Service trends

2.1.4. Technology trends

2.1.4.1. Wired technology trends

2.1.4.2. Wireless technology trends

2.1.5. Application trends

2.1.5.1. Indoor application trends

2.1.5.2. Outdoor application trends

Chapter 3. Global Smart Lighting Market Insights

3.1. Introduction

3.2. Industry segmentation

3.3. Industry landscape, 2014 – 2025

3.4. Industry ecosystem analysis

3.5. Market evolution

3.6. Market news

3.7. Technology & innovation landscape

3.8. Regulation landscape

3.8.1. Energy efficiency requirement standard GB 30255-2013 for LED lamps (China)

3.8.2. Performance requirement standard GB/T24908 standard for non-directional self-ballasted LED luminaire (China)

3.8.3. The European Directive ErP (Energy related Product) 2009/125/EC

3.8.4. EU No. 874/2012 Energy Label Standards

3.8.5. EU No. 1194/2012 regulation for directional LED luminaire energy efficiency standard

3.8.6. Energy Star Label (U.S.)

3.9. Industry impact forces

3.9.1. Growth drivers

3.9.1.1. Increasing demand for energy efficient lighting

3.9.1.2. Growing number of smart city development initiatives across the globe

3.9.1.3. Rising adoption of Li-Fi technology

3.9.1.4. Growing demand for intelligent street lighting system

3.9.2. Industry pitfalls & challenges

3.9.2.1. Data safety and security concerns

3.9.2.2. Challenges of cost, performance and thermal design

3.10. Growth potential analysis

3.11. Porter’s analysis

3.11.1. Threat of new entrants

3.11.2. Threat of substitutes

3.11.3. Bargaining power of buyer

3.11.4. Bargaining power of supplier

3.11.5. Industry rivalry

3.12. PESTEL analysis

Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/smart-lighting-market

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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