SMART LIGHTING MARKET ANALYSIS

Market Concentration and Competitive Landscape

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Growing Popularity of IoT based Smart Home Automation Systems

Across the world, there is growing interest among homeowners to automate different aspects of their living spaces for added convenience and efficiency. A key area where automation is gaining traction is smart home lighting. Today, various smart home platforms equipped with intelligent virtual assistants, smart hubs and app-based controls allow users to set up different lighting scenes, schedules, and automations with relative ease. Some popular uses include voice-controlled lighting, automatic activation of lights when motion is detected, gradual dimming/brightening of lights during sunset/sunrise, and illumination of specific rooms based on user presence. Lighting forms an important backbone of smart home ecosystems since it can be easily integrated with other devices like door/window sensors, security cameras and thermostats to create sophisticated automations.

System integrators and lighting manufacturers have recognized this growing demand for integrated smart home experiences and are offering bundled solutions. Many smart home platforms now natively support popular lighting protocols like Zigbee, Wi-Fi etc., allowing installation of a wide range of third-party smart bulbs and fixtures with minimum configuration. This is triggering the development of multifunctional bulbs that can double up as Bluetooth or Wi-Fi speakers, air quality monitors and more. Overall, the proliferation of smart home platforms centered on voice assistants and emerging standards like Matter is pulling more homeowners towards IoT-enabled smart lighting for automating day-to-day activities based on schedules, user preferences and environmental triggers. This rising popularity of intelligent lighting as an integral part of smart homes bodes well for continued growth of the market.