Global Smart Lighting Market Report 2021 – Opportunities And Strategies, Market Forecast And Trends
The Global Smart Lighting Market Report by The Business Research Company covers smart lighting market drivers and restraints, smart lighting market size, major players, and the impact of COVID-19 on the smart lighting market.
The smart lighting market consists of sales of smart lighting products and services used as a lighting medium for ensuring energy efficiency. The use of sensors for instances like automatic light dimming or adjusting the brightness of light depending on the mood of the user is one of the features of smart lighting. A smart lighting system ensures high-cost savings and lower energy usage.
Supportive government initiatives in developed and emerging markets drive the growth of the smart lighting market across the globe.
The global smart lighting market is expected grow from $11.07 billion in 2020 to $12.62 billion in 2021 at a compound annual growth rate (CAGR) of 14%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $22.57 billion in 2025 at a CAGR of 16%.
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Some smart lighting market trends include the use of Li-fi (Light Fidelity) network. Li-Fi is a wireless optical networking technology that uses light-emitting diodes (LEDs) for data transmission. The Li-fi bulbs are equipped with a small chip that modulates the light used for data transmission. The common household LED light bulbs are used to enable data transfer with speeds up to 224 gigabits per second.
Global smart lighting market segments include:
1) By Product: Smart Bulbs, Fixtures, Lighting Controls.
2)By Application: Commercial, Government, Residential, Others.
3) By Light Source: LED, HID, Others.
4) By Communication Technology: Wired, Wireless.
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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The Smart Lighting Global Market Report 2021: COVID 19 Growth And Change to 2030 is one of a series of new reports from The Business Research Company that provides smart lighting market overviews, analyzes and forecasts market size, share, smart lighting market players, smart lighting market segments and geographies, market’s leading competitors’ revenues, profiles and market shares.
The smart lighting market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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Read Smart Lighting Global Market Report 2021: COVID 19 Growth And Change to 2030 from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region And By Country, Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries.
Market Players Covered: Koninklijke Philips NV, Cree Inc., General Electricity Company, Acuity Brands Inc., Cisco Systems Inc., Eaton, Deco Lighting, Dialight, Honeywell Inc., Osram Licht AG, Legrand S.A., Osram GmbH, Wipro Consumer Lighting (Wipro Limited), Syska , Zumbotel Group AG, Schneider Electric SA, Digital Lumens Inc., Vision, Hubbell Lighting Inc., Lutron Electronics Co. Inc., Daintree Networks, Bridgelux , Echelon Corporation, Nualight Ltd., Taolight Company Limited, Virtual Extension Ltd., Acuity Brands, Inc.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)
Other Information And Analyses: SWOT analysis, customer information, market product/service analysis – product examples, trends and opportunities, drivers and restraints, key mergers and acquisitions, suggested trend based strategies, impact of COVID-19 on the market, future outlook and potential analysis, key metrics covered: number of enterprises, number of employees, global market in 2021 – countries offering most new opportunities, conclusions and recommendations by expert analysts.
Sourcing And Referencing: Data and analysis throughout the report are sourced using end notes.
Strategies For Participants In The Smart Lighting Industry: The report explains a number of strategies for companies in the market, based on industry trends and company analysis.
Opportunities For Companies In The Smart Lighting Sector: The report reveals where the global industry will put on most $ sales up to 2023.
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