Global Smart Lighting Market a healthy CAGR of 22.1% in the forecast period of 2019 to 2026 | Top Players Encelium technologies, Virtual Extension, Zumtobel Group AG, Wipro Consumer Care & Lighting, Schneider Electric SE
The Global Smart Lighting Market report includes detailed market definition, classifications, applications, and market trends, and with the use of SWOT analysis, the report summarizes what the market drivers and restraints are. The report shows important product developments and tracks recent acquisitions, mergers and research in the Global Smart Lighting Market industry by the key players who are driving the market by detailing all sales, import, export and revenue figures for the forecast period of 2019 to 2026. The Global Smart Lighting Market report provides a comprehensive analysis of the Global Smart Lighting Market by types, applications, players and regions. This report displays the 2019-2026 production, Consumption, revenue, Gross margin, Cost, Gross, market share, CAGR, and Market influencing factors of the Global Smart Lighting Market industry in global regions.
Global Smart Lighting Market is expected to reach million by 2026 and is projected to register a healthy CAGR of 22.1% in the forecast period of 2019 to 2026.
Major Players: Global Smart Lighting Market
Some of the major players operating in this market Philips Lighting Holding B.V. , Acuity Brands Lighting, Inc. , Hafele, Honeywell International Inc., Cree, Inc. , Digital Lumens, Inc., OSRAM GmbH., Lutron Electronics Co., Inc, Legrand SA, Seiko Epson Corporation, Encelium technologies, Virtual Extension, Zumtobel Group AG, Wipro Consumer Care & Lighting, Schneider Electric SE, Eaton, Leviton Manufacturing Co., Inc., Syska LED and Beam Labs B.V.and among others.
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Drivers: Global Smart Lighting Market
RAPIDLY INCREASING DEMAND FOR SMART CITIES
The smart lighting system played an important role in developed and developing countries by providing connected and smart lighting solution. To increase the sustainable economic development for the smart cities, every country should emphasize on their infrastructure including industry, buildings and outdoor premises. The first step is the need to decrease energy consumption by different source of the lighting system.
MAXIMUM USAGE AND DECREASED PRICE OF LED
The growth of LED in global arena has been expanded in the past few years due to the demand of technological transformation, maximum utilization and low pricing of LEDs. Nowadays lighting management systems are preferred for extended life, durability and dim ability.
As such, the application of a LED lighting products such are bulbs, luminaires, lamps are for indoor and outdoor spaces because it consumes less electricity as compared to traditional, fluorescent and halogen options. Mostly, it is preferable for flashing light display and industrial purposes.
SECURITY AND PRIVACY CONCERN RELATED TO SMART LIGHTING SYSTEMS
Although the application of smart lighting system is increasing day by day in many developed and developing countries for monitoring the energy efficient lighting, power consumption and lighting infrastructure, but it gets hampered by the security and privacy concerns created by cyber hackers..
Mostly, smart lighting systems are vulnerable to cyber-attacks from the hackers who would avail all the data from the servers and data centers. For such conditions, government should put various regulations to diminish and control the cyber security risks.
HIGH COST OF INSTALLATION
Though smart lighting system has many advantages but the cost of installation is a limiting factor. A smart lighting backup requires qualified engineers and people for the installation of wireless technology and wired solutions. Even though the smart lighting is cost efficient, but the installation may be more costly for wireless connectivity. The installation requires high cost and there is no other option for installation.
The companies have challenged to provide smart lighting solution with less installation cost, especially when costs are varying
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GROWING DEMAND OF IOT TECHNOLOGY FOR SMART LIGHTING
Although the innovation cost is more, still many industries are still investing in smart lighting solutions, and this number is increasing day by day. This deployment of IoT sensor is rapidly catching up worldwide.
The opportunities lie in areas that are driving IoT smart lighting for industrial and government support, and it shows no signs of lowering down. For instance, it was estimated that the number of connected devices in use on 23 billion units by 2026, with a positive percentage rise since 2017.
SPECTRUM OF LIGHT LEADS TO RADIATION PROBLEM
Various challenges are appeared while implementing and creating smart solutions which are perfectly serving the requirements of customers and making the place suitable to live. The emerging challenges include data security, interoperability, wireless connectivity and non-visual effects of lighting and spectral & light dosage. Most of the case arises due to maximum implication of solid and compact florescent lighting.
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On the basis of offering, the market is segmented into hardware, software and services. The hardware is sub- segmented into lights & luminaires relay units and lighting controls. The lights & luminaires is further sub- segmented into smart bulbs and fixtures. The smart bulbs again sub-segmented into fluorescent lamps (FL) and compact fluorescent lamps (CFL). The lighting controls are sub-segmented into switches & dimmers, LED drivers, sensors and gateways. The switches & dimmers are further sub-segmented into switches, 2manual switches and dimmers.
On the basis of installation type, the market is segmented into new installation and retrofit installation.
On the basis of communication technology, the market is segmented into wired technology and wireless technology. The wired technology is sub-segmented into power-line communication, wired hybrid protocols, digital addressable lighting interface and power over Ethernet. The wireless technology is sub-segmented into ZIGBEE, Bluetooth, Wi-Fi, wireless hybrid protocols, EnOcean and 6lowpan.
On the basis of application type, the market is segmented into outdoor application and indoor application. The outdoor application is sub-segmented into roadways & highways, public places and architectural. The indoor application is sub-segmented into commercial, residential and industrial. The roadway & highway is sub-segmented into street & roadways, highways and tunnels & bridges. The commercial is sub-segmented into office lighting, projection lighting, retail and hospitality.
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