PUNE, India, September 30, 2016 /PRNewswire/ --
According to a new market research report "Smart Lighting Market by Product Type (Smart Bulbs, Fixtures, and Lighting Controls), Light Source (Fluorescent, LED, HID), Communication Technology (Wired, and Wireless), Software & Service, Application, and Geography - Global Forecast to 2022", published by MarketsandMarkets, the total market size, in terms of value, is expected to reach USD 19.47 Billion by 2022, at a CAGR of 27.1%; and in terms of volume, the market size is expected to reach 1.27 Billion units by 2022, at a CAGR of 71.3% during the forecast period.
Browse 79 market data Tables and 66 Figures spread through 169 Pages and in-depth TOC on "Smart Lighting Market"
Early buyers will receive 10% customization on this report.
The growing consumer demand for energy efficient lighting system is expected to be the major factor driving the market.
Commercial indoor lighting is expected to dominate end users in terms of value
The use of applications of indoor lighting within the commercial sector is boosted by the use of lighting control systems which uses parameters such as occupancy, available daylight, and time of the day to turn lights on or off accordingly, thus providing noteworthy energy and cost savings. These are expected to be the leading factors for this segment.
Market for LED light sources to grow at the highest growth rate during the forecast period
The gradual reduction in prices of LED components, besides factors such as low maintenance costs, low power consumption are proving to be the main drivers for the growth of the LED light sources within the Smart Lighting Market.
The market in the APAC region is expected to grow at the highest rate during the forecast period
The market in Asia-Pacific (APAC) region is expected to grow at the highest rate between 2016 and 2022. The high growth rate can be attributed to the rapid infrastructure building activities being undertaken in the APAC region.
Inquiry Before Buying: http://www.marketsandmarkets.com/Enquiry_Before_Buying.asp?id=985
The smart lighting ecosystem comprises hardware component manufacturers, prototype designers, and original equipment manufacturers (OEMs) such as Philips Lighting (The Netherlands), Acuity Brands Lighting, Inc. (U.S.), General Electric Company (U.S.), OSRAM Licht AG (Germany), Honeywell International (U.S.), Cooper Industries, Inc. (Ireland), Digital Lumens, Inc. (U.S.), Legrand S.A. (France), Lutron Electronics Company, Inc. (U.S.), StreetLight. Vision (France), Schneider Electric SE (France), and Cree, Inc. (U.S.). among others.
Browse Related Reports
Light Control Switches Market Light Control Switches Market by Product Type (Manual Switches, Electronic Switches and Dimmers), Light Source (Incandescent & Halogen, Fluorescent, LED, HID), End Users and Geography - Global Forecasts to 2022
LED Driver Market for Lighting, by Driving Method (Constant Current and Constant Voltage), Luminaire Type (A-Type, T-Lamps, Reflectors, Integral Modules), Components (Driver IC and Discrete), End User Application, and Geography - Global Forecasts to 2022
Know More About our Knowledge Store @ http://www.marketsandmarkets.com/Knowledgestore.asp
MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical info graphics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Markets and Markets
701 Pike Street,
Suite 2175, Seattle,
WA 98101, United States
Visit MarketsandMarkets Blog@ http://www.marketsandmarketsblog.com/market-reports/electronics-and-semiconductors