Smart Lighting Market 2022 Projections: 71% CAGR (Shipment) 27% CAGR (Value)

Oct 05, 2016, 04:00 ET from ReportsnReports

PUNE, India, October 5, 2016 /PRNewswire/ --

The global smart lighting market is expected to be valued at USD 19.47 billion by 2022 and witness a shipment of 1.27 billion units by 2022, at a CAGR of 27.1% and 71.3%, respectively, between 2016 and 2022 while Europe expected to hold the largest market share during the forecast period.

Complete report on global smart lighting market spread across 169 pages, profiling 12 companies and supported with 79 tables and 66 figures is now available at .

The increasing consumer demand for energy-efficient lighting systems, increasing demand for intelligent solutions for street lighting systems and the development in IoT technology in the field of smart lighting are expected to drive the growth of this market. Lack of awareness regarding installation costs and payback periods, and security and privacy issues regarding network connectivity are inhibiting the growth of the smart lighting market.

The high growth of LED light source can be attributed to the fact that it offers a wide range of advantages over conventional light sources, such as low maintenance cost, longer endurance, low power consumption, and also the gradual decrease in price of LED components.

The market in Europe is expected to grow at a moderate rate in the overall market till 2022. The combination of multiple factors makes Europe the most dynamic region in the smart lighting market. The reason for Europe to be the leading market is because it is home to some of the top players in the smart lighting market such as Schneider Electric SE (France), OSRAM Licht AG (Germany), Legrand SA (France), among others. Besides these, Europe has a very high standard of living among its population, and there is an increasing growth of smart homes. The European Union also has legislations for energy efficiency and smart lighting.

The report includes in-depth competitive analysis of these key players in the smart lighting market, with their company profiles, SWOT analysis, recent developments, and key market strategies. In the process of determining and verifying, the global smart lighting market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people.

The geographic segmentation in the report covers the four major regions of the world, namely, North America, Europe, APAC, and RoW. The report also profiles major players in the Smart Lighting market. Some of the major players in this market areas Philips Lighting (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.), Street Light. Vision (France), Schneider Electric SE (France), and Cree, Inc. (U.S.), among others. Order a copy of 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 research report at .

On a related note, another research on Smart Building Market Global Forecast to 2021 says, intelligent security system segment is estimated to be the fastest-growing market segment. Europe is expected to dominate the market in 2016, whereas APAC would grow at the highest CAGR during the forecast period. The global market is estimated to be USD 5.73 billion in 2016 and is projected to reach USD 24.73 billion by 2021, at a CAGR of 34.0% from 2016 to 2021. Companies like ABB Group, Siemens AG, Schneider Electric SE, Cisco Systems, Inc., IBM Corporation, Delta Controls, Johnson Controls, Honeywell International, Inc., United Technologies Corporation and BuildingIQ have been profiled in this 183 pages research report available at .

Explore more reports on the Semiconductor and Electronics market at

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