Global Smart Lighting Market valued approximately USD 5.17 billion in 2016 is anticipated to grow with a healthy growth rate of more than 21.58% over the forecast period 2017-2025. Smart lighting is a lighting technology intended for increasing efficiency of energy which comprises of high-efficiency fixtures and automated controls that vary based on conditions like habitation or daylight availability. Major factors expected to propel the market are rising need for intelligent solutions for street lighting systems, increasing recognition for energy savings midst the governments and consumers globally, increasing for cities to be converted to smart cities, growing espousal and declining prices of LEDs, and rising demands for energy-efficient lighting systems.
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
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Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2015
Base year – 2016
Forecast period – 2017 to 2025
Some of the key manufacturers involved in the market are:
Streetlight Vision, Digital Lumens, Honeywell, Legrand S.A, Osram GmbH, Acuity brands Inc., Encelium Technologies, Zumtobel, Lutron Electronics, and Royal Philips Elect. N.V.
Acquisitions & effective mergers, and continuous technological innovations are some of the strategies adopted by the key manufacturers. New product launches are also one of the key strategies adopted by the major players.
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