Smart Lighting Market Worth $6,747.95 Million by 2018
DALLAS, March 7, 2013 /PRNewswire/ --
According to a new market research report "Smart Lighting Market (2013 - 2018): By Component (Sensors, Controllers, Chipsets, Others); Lighting Type (Led, FL, CFL, HID); Connectivity (Wired, Wireless); Application (Commercial, Industrial, Public, Government, Residential) & Geography", published by MarketsandMarkets is expected to reach $6,747.95 million by 2018, at a CAGR of 36% from 2013 to 2018.
- 82 market data tables
- 36 figures
- 298 pages and an in-depth Table of Content on "Smart Lighting Market"
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The term "Smart Lighting" refers to the environment controlled by lighting control systems. In brief, lighting control systems use factors such as occupancy, available daylight, and time of day to turn lights on or off accordingly, thus providing noteworthy energy and cost savings. There is a demand supply gap in the power sector and to overcome this problem smart lighting is a perfect solution. The demand of intelligent lighting controls for lighting is increasing in a tremendous way and this further supports the exponential growth potential of smart lighting. This report covers the "Global Smart Lighting market" and all its market aspects with future opportunities, drivers, restraints and others in detail.
Lighting control systems energy efficiency, development in electronics and sensor technology, eradication of incandescent lamps, favorable government policies and evolution of novel wireless technology are the key drivers behind the incredible growth of smart lighting market. This report describes different lighting types used in Smart lighting control systems such as light emitting diode (LED), fluorescent lamps (FL), compact fluorescent lamps (CFL), and high intensity discharge lamps (HID). Among all the other lighting types, LED lamps offer highest growth potential which is appealing many startups and big players to develop smart lighting solutions such as GreenWave realitys GreenChip-enabled light bulb, NXPs GreenChip iSSL wireless solution for LED bulbs and Philips Hue smart LED bulb. The report also explains various components used in the smart lighting market such as sensors, controllers and chipsets. The market for these components is also expected to have a high potential in the upcoming future.
This report also covers the major applications of the smart lighting systems which include commercial & industrial buildings, public & government buildings, outdoor lighting and residential applications.
The two major applications which contribute 90% in overall market are commercial & industrial and public & government buildings as of 2013 and has a huge market potential which is apparent from entry of several startups like Daintree Networks Inc (U.S.), Lutron Electronics Company, Inc (U.S.), Adura Technologies (U.S.), in this field to make the most use of this opportunity. As street lighting accounts for almost 40% of a city's power consumption, there is a huge scope for lighting control systems.
This report describes the overall smart lighting market into five major geographical segments, namely, North America, South America, Europe, Asia-Pacific (APAC), and ROW. Europe is the largest contributor in smart lighting market as of 2012 and is forecast to keep a strong position over other regions and have phenomenal growing potential in coming future followed by APAC and North America. APAC is the emerging market where countries like China, Japan, Taiwan, South Korea, etc will be the most striking future markets in smart lighting systems.
MarketsandMarkets is a global market research and consulting company based in the U.S. We publish strategically analyzed market research reports and serve as a business intelligence partner to Fortune 500 companies across the world.
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