The global smart lighting market is projected to grow substantially in the coming years owing to rapid urbanization and rising demand for energy efficient lighting solutions across both residential and commercial sectors. Smart lights offer seamless connectivity with IoT devices and provide customizable lighting effects. With technological advancements in LEDs and controls systems, smart bulbs, lamps and lighting fixtures are becoming smarter, brighter and more eco-friendly. Several governments worldwide are promoting smart city projects which is creating conducive environment for market growth of smart lighting.

Market Dynamics:

The key drivers fueling the global smart lighting market include growing need to reduce energy consumption, rising inclination towards home and building automation, and increasing governmental initiatives for infrastructure development and adoption of smart technologies. However, high initial costs of smart lighting installations and complex technical upgrades are expected to hamper the market demand initially. On the positive side, ongoing R&D to develop advanced wireless lighting control solutions and growing adoption of Li-Fi technology based smart lighting offers numerous opportunities in the coming years.

Key features of the study:

- This report provides in-depth analysis of the global smart lighting market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year

- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market

- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players

- It profiles key players in the global smart lighting market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies

- Key companies covered as a part of this study include Acuity Brands, Airthings, Crestron Electronics, Eaton Corporation, General Electric (GE), Honeywell International, Legrand, Lutron Electronics, Osram Licht AG, Philips Lighting (Signify), Samsung Electronics, Schneider Electric, Siemens AG, Syska LED, and Toshiba Corporation

- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics

- The global smart lighting market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts

- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global smart lighting market.

Detailed Segmentation:

• By Product Type
• • Fixtures
  • Lights
  • Control Systems
• By Technology
• • LED
  • Fluorescent
  • Incandescent
  • Others
• By Application
• • Residential
  • Commercial
  • Industrial
  • Outdoor
• By Region
• • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
• Key Players Insights
• • Acuity Brands
  • Airthings
  • Crestron Electronics
  • Eaton Corporation
  • General Electric (GE)
  • Honeywell International
  • Legrand
  • Lutron Electronics
  • Osram Licht AG
  • Philips Lighting (Signify)
  • Samsung Electronics
  • Schneider Electric
  • Siemens AG
  • Syska LED
  • Toshiba Corporation