Smart Lighting Market is projected to witness a compound annual growth rate of 25.44% to reach a total market size of US$21.221 billion by 2022, from US$6.833 billion in 2017. The trend of smart homes, IoT penetration, and advancement in LED technology are some of the key factors driving the market growth. Government initiatives regarding the installation of the smart lighting system, the popularity of wireless control and growing awareness regarding the benefits of smart lighting systems are other key factors boosting the demand for Smart Lighting solutions globally.
This research study examines the Smart Lighting market by type, application, and geography. Major drivers, restraints, and opportunities have been explained to provide an exhaustive picture of the market. Furthermore, the current market trends related to the demand, supply, and sales, in addition to the recent developments, have been provided in this report. The report provides comprehensive forecast up to the period 2022 for various key segments, with 2016 as base year.
The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical segments. Moreover, the research study analyses the overall regulatory framework of Smart Lighting market, offering stakeholders a better understanding of the key factors affecting the overall market environment.
The first step towards determining the Smart Lighting market size involves identifying key players and the revenue contribution of the overall business or relevant segment aligned to the study in consideration through extensive secondary research. This also includes various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others. Both bottom-up and top down approaches are utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the Smart Lighting value chain, across key enterprises operating as manufacturers, suppliers, and distributors. The last phase is providing intelligence in the form of presentation, charts, graphics and other different formats helping the clients in faster and efficient understanding of the market. Under this phase complete market engineering is involved which includes analysing the gathered data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Competitive intelligence section deals with major players in the market, their market shares, growth strategies, products, financials, and recent investments among others. Key industry players profiled as part of this section are Acuity Brands Lighting, Lutron Electronics, Johnson Controls, Osram, Daintree Networks, General Electric, Honeywell International and Philips among others.
Segments covered under the Smart Lighting market report are as below:
High-Intensity Discharge lamps
Europe Middle East and Africa
Middle East and Africa