Smart Lighting Market Trend, Demand, Scope, Growth Analysis and Industry Forecast 2021 -2028

The Smart Lighting Market report provides information on market size, market share, revenue growth, and CAGR from 2021 to 2028. The report also provides key insights about the market's top companies, as well as a thorough SWOT analysis, Porter's Five Forces analysis, and feasibility analysis to provide readers with a competitive advantage. The report focuses on the current pandemic's recent trends, major challenges and opportunities, and limitations.

According to the most recent report by Emergen Research, the size of the global market for smart lighting is anticipated to reach USD 45.47 billion in 2028, growing at a consistent 19.7% revenue CAGR. The rising use of LED lights and luminaires for outdoor lighting as well as the growing acceptance of standard protocols for lighting control systems are propelling the market's revenue growth.

A lighting system known as "smart lighting" is built with features and functionalities to improve convenience and security, among other things. Its main focus is on boosting energy efficiency. Smartphone apps can be used to remotely control smart lighting. This makes it fashionable and significantly novel in households and enterprises all around the world. It is extremely energy-efficient, has self-operating controls, and has incredibly effective fixtures that can be adjusted in accordance with occupancy and ambient illumination.

Smart lights are being used by many different industries, sectors, and businesses as a potential element for decoration, security, and other advantages and benefits. As a result, it is clear that the market for smart lighting is expanding quickly. A large variety of products, several light source options, a broad range of applications, including both indoor and outdoor lighting, and wired and wireless communication technology are some of the factors driving the worldwide smart lighting market's current revenue growth.

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The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Smart Lighting market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.

Key Companies Profiled in the Report are:

Acuity Brands, Signify Holding, Honeywell International Inc., Itron Inc., Ideal Industries, Inc., Häfele GmbH Co KG, Wipro Consumer Lighting, YEELIGHT, Sengled Optoelectronics Co., Ltd., Verizon, Häfele GmbH Co KG

How will this Report Benefit you?

An Emergen Research report of 250 pages features 194 tables, 189 charts, and graphics. Our new study is ideal for anyone who wants to learn about the global Smart Lighting market commercially and deeply, as well as to analyze the market segments in depth. With the help of our recent study, you can analyze the entire regional and global market for Smart Lighting. To increase market share, you must obtain financial analysis of the entire market and its segments. Our research suggests there are significant opportunities in this rapidly expanding market for energy storage technology. Look at how you might take advantage of these revenue-generating opportunities. Additionally, the research will help you develop growth strategies, strengthen competitor analysis, and improve business productivity by enabling you to make better strategic decisions.

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Some Key Highlights from the Report

In August 2021, Signify launched new range of Philips Smart Wi-Fi lights in India. With this it expanded its Phillips Smart Wi-Fi ecosystem in India under Wiz Smart Light Range. The portfolio also includes a new smart LED downlighter, T-Bulb, T-Beamer, and Batten in addition.
Hardware segment accounted for a significant revenue share in 2020. A majority of industries acknowledge the benefits earned by the use of smart light bulbs and fixtures which can switch shades, dim lights with a remote controller such as tablets, Alexa device, and smartphones among others. This has resulted in high preference for hardware among end-use industries.
LED light sources segment accounted for a significantly robust revenue share in 2020 due to higher preference and benefits such as long lifespan and energy efficiency, which helps in improving its environmental impact and most importantly low voltage operation.
Wireless receivers and transmitter segment accounted for a moderately robust revenue share in 2020, as these products are gaining gradual popularity due flexibility, versatility, and cost effectiveness.
North America registered highest revenue growth in 2020 due to rising demand for smart lights at different sectors in countries in this region. Emergence of smart city projects is also contributing to market revenue growth.

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What Questions Should You Ask before Buying a Market Research Report?

How is the Smart Lighting market evolving?
What is driving and restraining the Smart Lighting market?
How will each Smart Lighting submarket segment grow over the forecast period and how much revenue will these submarkets account for in 2028?
How will the market shares for each Smart Lighting submarket develop from 2021 to 2028?
What will be the main driver for the overall market from 2021 to 2028?
Will leading Smart Lighting markets broadly follow the macroeconomic dynamics, or will individual national markets outperform others?
How will the market shares of the national markets change by 2028 and which geographical region will lead the market in 2028?
Who are the leading players and what are their prospects over the forecast period?
What are the Smart Lighting projects for these leading companies?
How will the industry evolve during the period between 2021 and 2028? What are the implications of Smart Lighting projects taking place now and over the next 10 years?
Is there a greater need for product commercialisation to further scale the Smart Lighting market?
Where is the Smart Lighting market heading and how can you ensure you are at the forefront of the market?
What are the best investment options for new product and service lines?
What are the key prospects for moving companies into a new growth path and C-suite?

You need to discover how this will impact the Smart Lighting market today, and over the next 10 years:

Our 250-page report provides 194 tables and 189 charts/graphs exclusively to you.
The report highlights key lucrative areas in the industry so you can target them – Now.
It contains in-depth analysis of global, regional and national sales and growth.
It highlights for you the key successful trends, changes and revenue projections made by your competitors.

This report tells you Today how the Smart Lighting market will develop in the next 10 years, and in line with the variations in COVID-19 economic recession and bounce. This market is more critical now than at any point over the last 10 years.

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Market Overview:

The report bifurcates the Smart Lighting market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.

Segments Covered in this report are:

Component Outlook (Revenue, USD Billion; 2018–2028)

Hardware
Software
Services

Light Source Outlook (Revenue, USD Billion; 2018–2028)

LED Light Source
HID Light Source
Fluorescent Light Source

Type Outlook (Revenue, USD Billion; 2018–2028)

Smart Bulbs
Fixtures
Lighting Control
Sensors
Microcontroller and Microprocessors
Wireless Receivers and Transmitters
Others

Forecasts to 2028 and other analyses reveal commercial prospects

In addition to revenue forecasting to 2028, our new study provides you with recent results, growth rates, and market shares.
You will find original analyses, with business outlooks and developments.
Discover qualitative analyses (including market dynamics, drivers, opportunities, restraints and challenges), cost structure, impact of rising Smart Lighting prices and recent developments.

This report includes data analysis and invaluable insight into how COVID-19 will affect the industry and your company. Four COVID-19 recovery patterns and their impact, namely, “V”, “L”, “W” and “U” are discussed in this report.

How will the Smart Lighting Market, 2021 to 2028 report help you?

In summary, our 250-page report provides you with the following knowledge:

Revenue forecasts to 2028 for Smart Lighting Market, 2021 to 2028 Market, with forecasts for include report segmentation and company size, each forecast at a global and regional level – discover the industry’s prospects, finding the most lucrative places for investments and revenues.
Revenue forecasts to 2028 for four regional and 20 key national markets – See forecasts for the Smart Lighting Market, 2021 to 2028 market in North America, Europe, Asia-Pacific and LAMEA. Also forecasted is the market in the US, Canada, Mexico, Brazil, Germany, France, UK, Italy, China, India, Japan, and Australia among other prominent economies.
Prospects for established firms and those seeking to enter the market – including company profiles for 15 of the major companies involved in the Smart Lighting Market, 2021 to 2028.

Find quantitative and qualitative analyses with independent predictions. Receive information that only our report contains, staying informed with invaluable business intelligence.

Information found nowhere else

With our new report, you are less likely to fall behind in knowledge or miss out on opportunities. See how our work could benefit your research, analyses, and decisions. Emergen Research study is for everybody needing commercial analyses for the Smart Lighting Market, 2021 to 2028, market-leading companies. You will find data, trends and predictions.

The content of each profile differs, depending on the organization. In general, a profile gives the following information:

Overview of the company’s Smart Lighting products services
Analysis of recent financial performance–annual revenue of the companies
Assessment of developments–activities, acquisitions, production capacity, deals, new service offerings and collaborations

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A comprehensive analysis of the geographical landscape provides detailed information about various regions across North America, Europe, Asia Pacific, Latin America, and Middle East Africa.
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