Allied Market Research published a report, titled, “Smart Lighting Market by Offering (Hardware and Software), Connectivity Technology (Bluetooth, Zigbee, Wi-Fi, and DALI), Lighting Technology (LED, Halogen, Incandescent, Fluorescent, and CFL), and Industry Vertical (Commercial, Residential, Industrial, Automotive, and Others): Global Opportunity Analysis and Industry Forecast, 2019-2026.” The report offers a detailed analysis of changing market dynamics, key segments, value chain, competitive landscape, top investment pockets, and regional scenario.
The global smart lighting market size is expected to generate revenue worth $8.68 billion in 2018, and is projected to reach $38.68 billion by 2026, to register a CAGR of 20.5% during the forecast period. Smart lighting is designed to manage luminance remotely. It ensures energy efficiency and includes automated controls and highly efficient fixtures that could be adjusted depending on conditions such as occupancy and external lighting. Lighting is an intentional use of light to add practical and aesthetic effect to a space. Furthermore, these systems include general, accent, and task lighting. Besides this, smart lighting systems ensure lower energy usage and high cost savings.
The research provides an extensive analysis of driving factors, restraints, and opportunities of the global Smart Lighting Market market. These insights are helpful in availing insights about drivers, determine strategies, and implement necessary steps to avail competitive advantage and sustainable growth. Moreover, market players, investors, and startups can determine new opportunities, exploit the market potential, and achieve competitive edge.
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The report offers a detailed impact of the Covid-19 pandemic on the global Smart Lighting Market market to assist investors, market players, and others in reassessing their strategies and taking necessary steps accordingly.
Covid-19 Scenario:
- Manufacturing activities of Smart Lighting Market were halted due to partial or complete lockdown adopted in many countries. In addition, disruption in the supply chain and unviability of sufficient workforce presented hindrances in manufacturing activities.
- The Covid-19 pandemic presented the economic uncertainty, lowered down business confidence, and surged panic among customers. However, the market is projected to recover soon.
- Post-lockdown, manufacturing activities began with full capacity and supply chain reestablished. Moreover, the demand from end user industries is expected to increase gradually.
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Key Market Segments:
- By Offering
- Hardware
- Software
- By Connectivity Technology
- Bluetooth
- Zigbee
- WiFi
- DALI
- OTHERS
- By Lighting Technology
- LED
- Halogen
- Incandescent
- Fluorescent
- CFL
- By Application
- Indoor Lighting
- Outdoor Lighting
- By Industry Vertical
- Residential
- Commercial
- Industrial
- Automotive
- Others
A comprehensive analysis of each segment and sub-segment is provided in the research. In addition, the tabular and graphical representation of each segment and sub-segment will assist market players in understanding the largest revenue generating segments and driving factors thoroughly. This analysis is valuable in identifying the fastest growing segments as well and strategizing to gain a long-term growth.
The research provides a detailed analysis for various regions and countries for the global Smart Lighting Market market. Regions discussed in the study include North America (the U.S., Canada, and Mexico), Europe (the U.K., France, Italy, Germany, and rest of Europe), Asia-Pacific (China, Japan, India, Taiwan, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). These insights are valuable in devising strategies of expansion, identifying growth potential, and tapping on opportunities in new regions. AMR also provides customization services for a specific region, country, and segment as per requirements.
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The report provides an extensive analysis of major market players operating in the global Smart Lighting Market market.
The major market players analyzed in the research include
- Acuity Brands, Inc
- Cisco Systems, Inc
- Cree, Inc
- Eaton
- Deco Lighting, Inc
- Dialight
- General Electric
- Honeywell International Inc
- Koninklijke Philips N.V
- Syska
They have implemented various strategies such as new product launches, mergers and acquisitions, joint ventures, partnerships, expansion, collaborations, and others to gain competitive advantage across the global market.
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