The global smart lighting market is expected to reach USD 31.0 billion by 2025, growing at a CAGR of 18.1% during the forecast period. The key strategy adopted by the companies operating in the smart lighting ecosystem is a new product launch and existing portfolio enhancement. Globally, industry players in the smart lighting industry are leveraging market growth through the establishment of growth strategies related to organic and inorganic growth mechanisms along with the incorporation of several strategic partnerships by the key players occurring in this industry.
n the basis of Communication, the smart lighting market is segmented into the indoor Communication and outdoor Communication. Among these two segments, indoor Communication held a larger share in 2019 in the global market. The indoor Communication is further sub-segmented into commercial, residential, and others. Among these subcategories, residential Communications are excessively being installed in accordance with an entire house or even for a specific room. Moreover, the market for residential indoor Communications is expected to witness the fastest growth during the forecast period in the market due to the establishment of a wireless technique.
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Geographically, Asia-Pacific is expected to witness the fastest growth during the forecast period in the smart lighting market owing to the massive growth perspective provided to the manufacturers by this region and these lighting systems are extensively being adopted by the consumers in developing their household and making it digitalized. Increasing activities pertaining to construction in Asia-Pacific is extensively contributing to the growth of the market in the region. Competitive Insight
Some of the key players operating in the global smart lighting market include Cree Inc., Hubbell Lighting Inc., Koninklijke Philips N.V., Osram Licht AG, Schneider Electric SA, Zumbotel Group AG, Acuity Brands Inc, Digital Lumens Inc., Honeywell International Inc., and Legrand SA.
Key Takeaway from the Report:- Among all the sources, the LED segment held the largest share in the market in 2019.
- Of all the communication, wireless technology is expected to witness the fastest growth during the forecast period.
- Among all the Communication, indoor Communication held a larger share in 2019 in the global market.
- Historical market estimate for the years 2015–2019 and forecast for the years 2020–2025
- Insight on current market trends, market dynamics, key opportunities and major challenges in the industry
- Market insights by in-depth segmentation with industry dynamics.
- Competitive analysis and benchmarking of the industry leaders and their product offerings
- Profiles of leading players and innovators, their financial overview and product portfolio
- Analysis of key industry trends and recent developments
- Value chain analysis and distribution channel analysis with opportunity assessment
- Market share analysis of major players
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Call: +91-996-028-8381
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Email: enquiry@vynzresearch.com
Web: https://www.vynzresearch.com
