USD 15.05 billion
Smart Lighting Market Size, Share, Growth Analysis, By Offering (Hardware, Software), By Communication Technology (Wired Technology, Wireless Technology), By Application, By Installation, By Region - Industry Forecast 2025-2032
Report ID:
SQMIG45K2060 |
Region:
Global |
Published Date: December, 2024
Pages:
157
|Tables:
64
|Figures:
75
Smart Lighting Market Insights
Smart Lighting Market size was valued at USD 18.08 Billion in 2023 and is poised to grow from USD 21.71 Billion in 2024 to USD 93.97 Billion by 2032, growing at a CAGR of 20.1% during the forecast period (2025-2032).
The global smart lighting market has been on a steady rise, driven by factors such as increasing awareness of energy efficiency, advancements in IoT technology, and the growing trend toward smart cities and building automation.
Smart lighting systems, incorporating sensors, wireless communication, and intelligent controls, offer users the ability to remotely manage lighting settings, adjust brightness, and even change colors. This not only enhances user experience but also contributes to energy savings and environmental sustainability.
Despite initial costs being a challenge, government regulations mandating energy-efficient solutions and the demand for personalized lighting experiences have further fueled market growth.
Challenges including interoperability and data security need to be addressed. The market's landscape is characterized by various components such as smart bulbs, fixtures, sensors, and communication modules, along with different communication protocols like Wi-Fi, Bluetooth, and Zigbee.
The applications span residential, commercial, industrial, and outdoor environments, catering to general and specialized lighting needs. Regional disparities in adoption are influenced by factors like technological readiness and regulatory conditions. For the most current and comprehensive insights, consulting up-to-date market research reports is recommended.
US Smart Lighting Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
residential
Fastest Growth
residential
Growth Rate
20.1% CAGR
Global Smart Lighting Market ($ Bn)
Country Share for North America Region (%)
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Smart Lighting Market Segmental Analysis
Global Smart Lighting Market is segmented by offering, communication technology, application, installation process and region. Based on offering, the market is segmented into hardware (lights and luminaires (smart bulbs, fixtures), lighting controls (sensors, switches & dimmers, gateways)), software (local/web-based, cloud-based) and services (design & engineering, installation, post-installation). Based on communication technology, the market is segmented into wired technology (power line communication (PLC), digital addressable lighting interface (DALI)) and wireless technology (zigbee, bluetooth, wi-fi). Based on application, the market is segmented into indoor (residential, commercial (offices, retail, hospitality, industrial)), outdoor (highways & roadways, public places, architectural). Based on installation process, the market is segmented into new installations, retrofit installation. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Smart Lighting Market Analysis By Application
In the dynamic landscape of the smart lighting market, two standout segments define its trajectory: residential and outdoor applications. The residential sector commands the largest share, with an increasing number of homeowners embracing the comfort, convenience, and energy efficiency offered by smart lighting solutions. With a staggering global market share of approximately 50%, the residential segment is driven by consumers' desire to personalize their living spaces and reduce energy consumption.
Simultaneously, the outdoor segment emerges as the fastest growing powerhouse, projected to witness a robust CAGR of over 20%. This meteoric rise is attributed to the integration of smart lighting in urban planning and smart city initiatives, fostering safer and more vibrant public spaces. The synergy between aesthetic appeal, security enhancement, and energy conservation has propelled outdoor smart lighting to the forefront of innovation, exemplifying a segment that not only meets but anticipates the demands of a connected world.
Smart Lighting Market Analysis By Component
Within the intricate tapestry of the smart lighting market, two distinct segments unfurl as torchbearers of innovation: controls and sensors. The controls segment, akin to the conductor of a symphony, commands the largest share with a compelling global market dominance of approximately 45%. This dominance stems from the indispensable role controls play in orchestrating the harmonious dance of light, enabling users to effortlessly modulate brightness, color, and ambiance, thereby shaping spaces to suit diverse moods and activities. Simultaneously, the sensors segment emerges as the undisputed crescendo, poised to exhibit an astounding CAGR of over 25%. This soaring trajectory is fueled by the relentless pursuit of energy efficiency and automation. Sensors, akin to astute observers, detect occupancy, ambient light levels, and even individual preferences, transforming spaces into sentient environments that respond intuitively to human presence. As the controls segment masterfully conducts the symphony and sensors infuse it with vitality, together they paint a picture of an ecosystem where user-centricity and efficiency converge in exquisite harmony, illuminating a future where lighting is not just functional, but an art form.
Global Smart Lighting Market By Application
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Smart Lighting Market Regional Insights
Amidst the global canvas of the smart lighting market, two distinct regions emerge as captivating protagonists: North America, the reigning dominion, and Asia-Pacific, the star of exponential growth. North America, with its firm grip on the throne, casts a commanding presence, boasting a technologically savvy populace and a well-established infrastructure that has yielded a market share of approximately 40%. The region's penchant for smart homes, coupled with stringent energy regulations, has nurtured a thriving ecosystem where smart lighting reigns supreme. At the same time, the spotlight shines brilliantly on the Asia-Pacific region, where innovation unfurls at an electrifying pace, heralding a projected CAGR of over 20%. This surge is a testament to the region's rapid urbanization, burgeoning middle class, and burgeoning investments in smart city initiatives. As North America stands as a paragon of established prowess, Asia-Pacific ascends as the bold frontier, where the future of smart lighting is painted in hues of ambition and growth, illuminating the way forward for the global market.
Global Smart Lighting Market By Geography
- Largest
- Fastest
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Smart Lighting Market Dynamics
Smart Lighting Market Drivers
Energy Efficiency and Sustainability
- The urgent need for energy conservation and environmental sustainability has propelled the adoption of smart lighting solutions. These systems enable precise control over lighting levels based on occupancy and natural light availability, leading to significant energy savings. As governments and organizations emphasize eco-friendly practices, the drive toward energy-efficient lighting systems becomes a compelling driver for the market's growth.
IoT Integration and Smart Infrastructure
- The integration of smart lighting within the broader Internet of Things (IoT) ecosystem has unlocked a realm of interconnected possibilities. The ability to control lighting remotely through smartphones and integrate it with other smart devices, such as thermostats and security systems, enhances convenience and user experience. The potential for creating smart homes, offices, and cities with seamless connectivity and automation is a powerful driver behind the market's expansion.
Smart Lighting Market Restraints
High Initial Costs
- Despite their long-term benefits, the initial costs associated with implementing smart lighting systems can be substantial. These costs encompass not only the smart lighting components but also the necessary infrastructure, like communication networks and control systems. This financial barrier can deter some potential adopters, especially in regions with limited budget allocations or where the upfront investment might not be immediately recouped through energy savings.
Interoperability Challenges
- The diversity of manufacturers and communication protocols in the smart lighting market can create interoperability issues. Consumers and businesses may face difficulties when attempting to integrate products from different vendors or when upgrading existing systems. This lack of standardization can complicate the seamless functioning of smart lighting ecosystems and may slow down the broader adoption of these technologies, especially in cases where compatibility is crucial for optimal performance.
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Smart Lighting Market Competitive Landscape
The competitive landscape of the smart lighting market is a dynamic arena characterized by a mix of established players and innovative newcomers. Leading global technology giants, as well as specialized lighting companies, are engaged in a race to shape the future of illumination. Established players leverage their brand recognition, extensive distribution networks, and technological expertise to maintain a strong foothold. Meanwhile, agile startups and niche firms bring fresh ideas to the table, driving innovation through their specialized solutions and novel approaches. Partnerships, mergers, and acquisitions are common strategies as companies seek to enhance their portfolios and expand their market reach. The competition revolves around technological advancements, interoperability, energy efficiency, and user-centric designs. This spirited environment not only spurs innovation but also benefits consumers and businesses by offering a diverse range of cutting-edge smart lighting solutions that cater to an array of needs and preferences.
Smart Lighting Market Top Player’s Company Profile
- Signify Holding (Philips Lighting)
- Acuity Brands Lighting, Inc.
- Honeywell International Inc.
- Itron, Inc.
- Legrand SA
- Lutron Electronics Co., Inc.
- OSRAM Licht AG
- Schneider Electric SE
- General Electric Company
- Hubbell Incorporated
- Cree, Inc.
- Zumtobel Group AG
- Eaton Corporation
- Digital Lumens, Inc.
- Streetlight.Vision
- Syska LED Lights Pvt. Ltd.
- Wipro Lighting
- Panasonic Corporation
- Samsung Electronics Co., Ltd.
- LG Electronics Inc.
Smart Lighting Market Recent Developments
- In April 2023, Cree, Inc. announced the launch of its new Trulifi smart lighting platform. Trulifi uses millimeter wave technology to deliver high-speed, low-latency connectivity to smart lighting devices.
- In May 2023, General Electric announced the launch of its new C by GE smart lighting line. The C by GE line includes a range of smart bulbs, switches, and sensors that can be controlled using the C by GE app.
Smart Lighting Key Market Trends
- Human-Centric Lighting (HCL): The concept of Human-Centric Lighting (HCL) has gained significant traction in the smart lighting market. HCL focuses on the idea that lighting can have a profound impact on human health, well-being, and productivity. As a result, smart lighting systems are increasingly being designed to mimic natural light patterns, adjusting color temperature and intensity throughout the day to align with circadian rhythms. This trend is particularly significant in commercial and residential environments where optimizing lighting for comfort and productivity is paramount. HCL's potential to positively influence mood, concentration, and sleep patterns is driving its integration into a variety of applications, from office spaces to healthcare facilities.
Smart Lighting Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, The global smart lighting market has evolved into a vibrant landscape driven by a convergence of technological innovation, energy efficiency imperatives, and the surge in connected environments. This market is characterized by the integration of cutting-edge technologies such as Internet of Things (IoT), wireless communication, and sensor networks to revolutionize traditional lighting systems. The emphasis on energy efficiency and sustainability, coupled with the demand for personalized experiences, has propelled the adoption of smart lighting solutions across diverse sectors. Notably, residential and commercial applications have emerged as the prime segments, reflecting consumers' desires for energy savings, convenience, and ambiance control. Furthermore, the market's growth trajectory is bolstered by the momentum of smart city initiatives, where intelligent lighting plays a pivotal role in enhancing urban infrastructure. However, challenges such as initial costs, interoperability concerns, and data security underscore the need for continued innovation and industry collaboration. As technology continues to advance and user expectations evolve, the global smart lighting market is poised for further expansion and transformation, shaping the way we illuminate and interact with our surroundings.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 15.05 billion |
| Market size value in 2031 | USD 78.24 billion |
| Growth Rate | 20.1% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Smart Lighting Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Smart Lighting Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Smart Lighting Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Smart Lighting Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Smart Lighting Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Smart Lighting Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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