Smart Lighting and Control Systems Global Market is Projected to Reach $153.7 Billion by 2030: Smart Intelligent LED Lighting Catalyzes Growth Prospects

DUBLIN, July 7, 2023 /PRNewswire/ -- The "Smart Lighting and Control Systems: Global Strategic Business Report" report has been added to  ResearchAndMarkets.com's offering.

The global market for Smart Lighting and Control Systems estimated at US$42.4 Billion in the year 2022, is projected to reach a revised size of US$153.7 Billion by 2030, growing at a CAGR of 17.5% over the analysis period 2022-2030.

Light Emitting Diodes (LEDs), one of the segments analyzed in the report, is projected to record a 20.7% CAGR and reach US$117.7 Billion by the end of the analysis period.

Taking into account the ongoing post pandemic recovery, growth in the Fluorescent Lamps segment is readjusted to a revised 6.8% CAGR for the next 8-year period.

The U.S. Market is Estimated at $10.1 Billion, While China is Forecast to Grow at 21.9% CAGR

The Smart Lighting and Control Systems market in the U.S. is estimated at US$10.1 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$26.6 Billion by the year 2030 trailing a CAGR of 21.9% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 14.5% and 16% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 15.6% CAGR.

Select Competitors (Total 97 Featured) -

• ABB Ltd.
• Acuity Brands, Inc.
• Belkin International, Inc.
• Cree Lighting
• Dialight PLC
• Eaton Corporation plc
• Enlighted, Inc.
• GE Current, a Daintree Company
• GE Lighting, a Savant Company
• Helvar Oy Ab
• Honeywell International, Inc.
• Legrand S.A
• Leviton Manufacturing Company, Inc.
• LG Electronics, Inc.
• LightwaveRF Plc
• Lutron Electronics Co., Inc.
• OSRAM Licht AG
• RAB Lighting, Inc.
• Schneider Electric SE
• Signify N.V.
• Synapse Wireless, Inc.
• Wipro Enterprises (P) Ltd.
• Zumtobel Group AG

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

• Impact of COVID-19 Pandemic and Looming Global Recession
• A Review of COVID-19 Pandemic
• Stagflation & an Imminent Recession: New Challenges in 2022 & 2023
• World Economic Growth Projections (Real GDP, Annual % Change) for the Years 2020, 2021, 2022 and 2023
• COVID-19 Pandemic Impacts Smart Lighting Market
• Home Office Trend Drives Demand for Lighting Solutions with Smart Features
• Smart Lighting Solutions to be part of Recovery Plans of European Countries
• IoT- and LED-Powered Platforms to Allow Safe Return of People to Workplaces
• An Introduction to Smart Lighting & Control Systems
• Smart Lighting Certifications & Standards
• Smart Lighting: Energy-Efficient, Dynamic, Digital, and Connected
• Global Market Prospects & Outlook
• A Dive into Sparkling Trends Igniting Growth of Smart Lighting Market
• LEDs Continue to Gain Over Other Smart Lighting Technologies
• Developed Regions Lead, Developing Nations to Boost Long-term Growth
• Competition
• Smart Lighting and Control Systems - Global Key Competitors Percentage Market Share in 2022 (E)
• Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
• Product Differentiation: The Key to Success
• Effective Marketing Strategies: A Must for Success in the Marketplace
• Technology and Other Risks Faced by Vendors in the Smart Lighting Business
• Smart Lighting Controls Market: Competitive Landscape
• Startups Exhibit Growing Interest in Smart Lighting Market
• World Brands
• Recent Market Activity

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

• Superior Attributes of Smart Lighting over Traditional Lighting to Boost Market Prospects
• Prominent Technologies with Potential to Transform Lighting Industry
• IoT and Artificial Intelligence Gain Significance in Lighting Applications
• LEDs, IoT & Innovations: Rays of Sunshine for Smart Lighting Technologies
• Convergence of IoT and Lighting Devices
• AI Set to Scale Up Smart Lighting Capabilities
• High-Growth Opportunities for AI Smart Lights
• German Research Team Aims to Develop New AI Smart Lights
• Emphasis on Achieving Energy and Cost Savings amidst Spiraling Electricity Consumption: The Fundamental Growth Driver
• Projected Global Demand for Electricity (MWh): 2015, 2020, 2025, 2030 & 2035
• Transforming Effect of Smart, Intelligent, and Intuitive Lighting on Human Life Drives Market Expansion
• Smart Intelligent LED Lighting Catalyzes Growth Prospects
• LED and Other Lighting Technologies: A Comparison
• Connected, Embedded, and Sustainable Lighting Drive Enormous Changes in Luminaire Design and Functionality
• Rise of Smart Cities and Focus on Smart Energy Management Opens Up Opportunities for Smart Lighting Products
• Smart Lighting Illuminating the Road to Smart Cities
• Global Market for Smart City Technologies in US$ Million for the Years 2020 and 2027
• Smart Lighting Systems Find High Demand from Street Lighting Networks
• Connected Street Lighting to Surge Post Pandemic
• New Smart City Projects Spur Market Growth for Smart Street Lighting Systems
• Connected Lighting to Witness Emergence of Several New Trends
• Consumer Spending on Smart Home Technologies Presents Opportunities for Smart Lighting Solutions
• Global Smart Homes Market (In US$ Billion) for the Years 2019, 2021, 2023 & 2025
• Global Smart Home Market Breakdown by Technology (in %) for 2018 and 2022
• Smart Home Penetration Rate (%) by Region/Country: 2020
• Buzzing Trends Shaping Future of Smart Home Lighting
• Increasing Adoption of LEDs in Innovative Niche Lighting Markets Favor Market Expansion
• Controls: Augmenting the Intelligent Quotient of Smart Lighting
• Lighting Controls Offer Higher Savings, Energy Efficiency, and Space Efficiency
• Convenience & Advances Boost Popularity of Wireless Lighting Controls
• Controls for Connected, Intelligent, and Advanced LED luminaires
• Commercial Lighting: Adoption of Smart Lighting Systems Surges As a Measure to Cut Energy Costs
• Lighting Technology Advancements for Commercial Buildings
• Connecting End-to-End Building Systems Using Smart Lighting
• Residential Sector: A Potential Laden Application Segment in the Long Run
• Smart Lighting for Homes Surges amidst the Pandemic
• Demand Rises for Smart, Energy Efficient Lighting Systems in Industrial Applications
• Role of Smart Lighting Control Systems As Supplemental Lighting Expanding in Greenhouses
• Smart LED Lighting Advantageous for Horticulture
• Specialty Lighting Applications to Boost Demand for Smart Lighting Systems
• UV Light Emerges as Important Weapon in War against COVID-19 Pandemic
• Smart Lighting Deployments Gain Momentum in Government Buildings and Public Lighting
• Smart Lighting Solutions to Meet Needs of Healthcare Facilities
• Advances in Lighting System & Controls Drive Adoption in Healthcare Facilities
• Facilities Get Spectacular Makeover & Savings with Advanced Lighting Controls
• Strangulated by Spiraling Energy Prices, Municipalities Find Solace in Smart LED Street Lighting
• Introduction of Interoperable Communication Networks Fuels Demand for Wireless Lighting Devices
• Advent of Novel Standards Fuel Demand for Bluetooth-Enabled Communication Devices
• Key Smart Lighting Technology Trends
• Technology Trends: Let There be Light for Lighting Controls
• Technology Advancements in Smart Lighting & Controls to Boost Market Prospects
• Li-Fi to Emerge as Game Changer
• OLED Lighting Remains a Niche Category
• Horticulture Lighting with Smart LEDs for Enabling City Farming
• COVID-19 Pandemic Fuels Demand for Touch Free LED Lighting Devices
• Government Policies Spur Adoption of Energy Efficient Lighting Solutions, Spur Opportunities for Smart Lighting Market
• Impact of COVID-19 on the Construction Sector Tones Down Near-term Growth Prospects
• World Construction Industry (in US$ Trillion) for the Years 2017, 2019 & 2022
• Demographic Trends Influence Market Prospects
• World Population (in Thousands) by Geographic Region for the Years 2019, 2030, 2050, 2100
• Urbanization Drives Need for Efficient, and Longer Lasting Smart Lighting Solutions
• World Urban Population in Thousands: 1950-2050P
• Degree of Urbanization Worldwide: Urban Population as a % of Total Population by Geographic Region for the Years 1950, 1970, 1990, 2018, 2030 and 2050
• Growing Middle Class Population
• Global Middle Class Population (In Million) by Region for the Years 2020, 2025 and 2030
• Global Middle Class Spending (US$ Trillion) by Region for the Years 2020, 2025, 2030
• Improving Standards of Living
• Key Challenges Hampering Market Prospects for Smart Lighting

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/99myyd

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