Transparency Market Research delivers key insights on the global smart lighting market. In terms of revenue, the global smart lighting market is estimated to expand at a CAGR of 20.3% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global smart lighting market.
The global smart lighting market is broadly affected by several factors, including rise in the number of smart city projects in developing countries.
The smart lighting market in the Asia Pacific is expected to expand during the forecast period, owing to the presence of key market players, technological advancements, and countries, such as China, India, Japan, South Korea, and Taiwan that are offering ample and lucrative opportunities for manufacturers on a long-term basis owing to expansion of construction and infrastructure sectors in the region. Asia Pacific held a prominent share of the global market due to an increase in number of smart city and smart infrastructure projects undertaken by governments in the last few years. For instance, by March 2019, the Government of India launched the UJALA program, with a target to distribute 770 million LEDs. The UJALA program is primarily focused on providing low cost electrification and reducing emissions from inefficient lighting in the country. The smart lighting market in Asia Pacific is anticipated to expand at a notable CAGR during the forecast period, owing to the presence of a large number of players manufacturing smart lighting in the region.
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Smart Lighting Market: Key Players
Key players operating in the global smart lighting market include LG Corporation, Leviton Manufacturing Company, Inc., Hubbell Incorporated, Panasonic, Honeywell International Inc., Signify Holding, Cree, Inc., Koninklijke Philips N.V., OSRAM, and Syska LED.
Smart Lighting Market, by Offering
Smart Lighting Market, by Connectivity Outlook
Smart Lighting Market, by Application
Smart Lighting Market, by End-use
- Academic Institutes
- Public Places (Monuments, Garden, Parks, etc.)
- Others (Parking Lot, Swimming Pools, etc.)
Smart Lighting Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific (APAC)
- South Korea
- Rest of Asia Pacific
- Middle East Africa (MEA)
- GCC Countries
- South Africa
- North Africa
- Rest of Middle East Africa
- South America
- Rest of South America
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