Smart Lighting Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

Description

The smart lighting market is experiencing a significant surge, driven by increasing demand for energy-efficient and customizable lighting solutions. Integrating advanced technologies like sensors, controllers, and communication networks, smart lighting systems are revolutionizing residential and commercial spaces with flexible, remote-controlled, and energy-efficient lighting options. Projected to grow from $16 billion in 2024 to $59.86 billion by 2031, this sector boasts a robust compound annual growth rate (CAGR) of 20.7%, highlighting its pivotal role in modern lighting innovation and sustainability efforts.

Key Features and Benefits

One of the most notable features of smart lighting is its capability to automatically adjust lighting levels based on occupancy and natural light conditions. This not only enhances energy efficiency but also significantly improves user comfort and convenience. Typically, smart lighting systems include LED lights, renowned for their energy efficiency, and can be controlled remotely via a smartphone or other devices.

Additionally, smart lighting can be programmed to provide different lighting settings tailored to various times of day or specific activities, making it a vital component of home automation systems. This technology represents a substantial leap in lighting solutions, offering a plethora of benefits beyond those provided by traditional lighting systems.

Market Trends and Regional Insights

The smart lighting market is experiencing robust growth across multiple regions. North America currently holds the largest market share, closely followed by Europe. The demand for smart lighting is also rising in regions such as India, where the rapid adoption of smart home concepts is propelling market expansion.

Market Drivers

The growing awareness of the benefits of smart lighting, such as energy efficiency and cost-effectiveness, is a major driver of market growth. Smart lighting systems offer significant energy savings compared to traditional lighting, resulting in lower electricity bills and reduced carbon emissions. Moreover, the decreasing cost of LED lighting has made smart lighting systems more accessible and affordable to a broader range of consumers.

Technological Advancements and Innovations

The market is also benefiting from ongoing technological advancements and innovations. Companies are expanding their product lines and enhancing their offerings through strategic partnerships and acquisitions. For example, GE Current has expanded its partnership with Florida Lighting Associates to enhance its connected controls portfolio and advanced lighting solutions.

Challenges and Restraints

Despite the numerous advantages, the smart lighting market faces certain challenges. Infrastructure limitations, such as inadequate wireless connectivity or power supply issues, can impede market growth in some areas. However, many smart lighting systems are designed to operate independently of a centralized infrastructure, using wireless protocols like Bluetooth, Zigbee, or Z-Wave, which helps mitigate these challenges.

Security and Integration Benefits

Beyond energy efficiency and customization, smart lighting systems offer enhanced security features. They can be integrated with other smart home or industrial automation systems, such as security cameras and motion sensors, providing a comprehensive security solution. This integration capability is particularly appealing in regions like France, where there is a growing awareness of the importance of home and industrial security.

Segment Analysis: Software and Wireless Technology

The software component of smart lighting systems is crucial for their functionality. It allows for the programming and remote adjustment of lighting levels, color temperature, and other settings. This flexibility is a key factor driving the demand for smart lighting systems.

Wireless technology, meanwhile, offers scalability and ease of integration with other systems. It allows for the addition or removal of components without the need for additional wiring, making it a flexible and adaptable solution for both residential and commercial settings.

Competitive Analysis

Cree, Inc.
Hubbell Lighting, Inc.
GE Lighting, LLC
OSRAM light AG
Royal Philips NV
Acuity Brands Lighting, Inc.
Honeywell International Inc.
Panasonic Corporation
Schneider Electric

Key Segments of Smart Lighting Industry Research

By Offering:

Hardware
Software
Services

By Technology:

Wired
Wireless

By Region:

North America
Latin America
Europe
East Asia
South Asia Pacific
Middle East and Africa

1. Executive Summary

1.1. Global Smart Lighting Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Regional Snapshot, by Value, 2023
1.5. Analyst Recommendations

2. Market Overview

2.1. Market Definitions and Segmentations
2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Market Opportunities
2.3. Value Chain Analysis
2.4. Porter's Five Forces Analysis
2.5. COVID-19 Impact Analysis
- 2.5.1. Supply
- 2.5.2. Demand
2.6. Economic Overview
- 2.6.1. World Economic Projections
2.7. PESTLE Analysis

3. Global Smart Lighting Market Outlook, 2018 - 2031

3.1. Global Smart Lighting Market Outlook, by Offering, Value (US$ Bn), 2018 - 2031
- 3.1.1. Key Highlights
  - 3.1.1.1. Hardware
  - 3.1.1.2. Software
  - 3.1.1.3. Services
3.2. Global Smart Lighting Market Outlook, by Technology, Value (US$ Bn), 2018 - 2031
- 3.2.1. Key Highlights
  - 3.2.1.1. Wired
  - 3.2.1.2. Wireless
3.3. Global Smart Lighting Market Outlook, by Region, Value (US$ Bn), 2018 - 2031
- 3.3.1. Key Highlights
  - 3.3.1.1. North America
  - 3.3.1.2. Europe
  - 3.3.1.3. Asia Pacific
  - 3.3.1.4. Latin America
  - 3.3.1.5. Middle East & Africa

4. North America Smart Lighting Market Outlook, 2018 - 2031

4.1. North America Smart Lighting Market Outlook, by Offering, Value (US$ Bn), 2018 - 2031
- 4.1.1. Key Highlights
  - 4.1.1.1. Hardware
  - 4.1.1.2. Software
  - 4.1.1.3. Services
4.2. North America Smart Lighting Market Outlook, by Technology, Value (US$ Bn), 2018 - 2031
- 4.2.1. Key Highlights
  - 4.2.1.1. Wired
  - 4.2.1.2. Wireless
4.3. North America Smart Lighting Market Outlook, by Country, Value (US$ Bn), 2018 - 2031
- 4.3.1. Key Highlights
  - 4.3.1.1. U.S. Smart Lighting Market by Offering, Value (US$ Bn), 2018 - 2031
  - 4.3.1.2. U.S. Smart Lighting Market by Technology, Value (US$ Bn), 2018 - 2031
  - 4.3.1.3. Canada Smart Lighting Market by Offering, Value (US$ Bn), 2018 - 2031
  - 4.3.1.4. Canada Smart Lighting Market by Technology, Value (US$ Bn), 2018 - 2031
- 4.3.2. BPS Analysis/Market Attractiveness Analysis

5. Europe Smart Lighting Market Outlook, 2018 - 2031

5.1. Europe Smart Lighting Market Outlook, by Offering, Value (US$ Bn), 2018 - 2031
- 5.1.1. Key Highlights
  - 5.1.1.1. Hardware
  - 5.1.1.2. Software
  - 5.1.1.3. Services
5.2. Europe Smart Lighting Market Outlook, by Technology, Value (US$ Bn), 2018 - 2031
- 5.2.1. Key Highlights
  - 5.2.1.1. Wired
  - 5.2.1.2. Wireless
5.3. Europe Smart Lighting Market Outlook, by Country, Value (US$ Bn), 2018 - 2031
- 5.3.1. Key Highlights
  - 5.3.1.1. Germany Smart Lighting Market by Offering, Value (US$ Bn), 2018 - 2031
  - 5.3.1.2. Germany Smart Lighting Market by Technology, Value (US$ Bn), 2018 - 2031
  - 5.3.1.3. U.K. Smart Lighting Market by Offering, Value (US$ Bn), 2018 - 2031
  - 5.3.1.4. U.K. Smart Lighting Market by Technology, Value (US$ Bn), 2018 - 2031
  - 5.3.1.5. France Smart Lighting Market by Offering, Value (US$ Bn), 2018 - 2031
  - 5.3.1.6. France Smart Lighting Market by Technology, Value (US$ Bn), 2018 - 2031
  - 5.3.1.7. Italy Smart Lighting Market by Offering, Value (US$ Bn), 2018 - 2031
  - 5.3.1.8. Italy Smart Lighting Market by Technology, Value (US$ Bn), 2018 - 2031
  - 5.3.1.9. Turkey Smart Lighting Market by Offering, Value (US$ Bn), 2018 - 2031
  - 5.3.1.10. Turkey Smart Lighting Market by Technology, Value (US$ Bn), 2018 - 2031
  - 5.3.1.11. Russia Smart Lighting Market by Offering, Value (US$ Bn), 2018 - 2031
  - 5.3.1.12. Russia Smart Lighting Market by Technology, Value (US$ Bn), 2018 - 2031
  - 5.3.1.13. Rest of Europe Smart Lighting Market by Offering, Value (US$ Bn), 2018 - 2031
  - 5.3.1.14. Rest of Europe Smart Lighting Market by Technology, Value (US$ Bn), 2018 - 2031
- 5.3.2. BPS Analysis/Market Attractiveness Analysis

6. Asia Pacific Smart Lighting Market Outlook, 2018 - 2031

6.1. Asia Pacific Smart Lighting Market Outlook, by Offering, Value (US$ Bn), 2018 - 2031
- 6.1.1. Key Highlights
  - 6.1.1.1. Hardware
  - 6.1.1.2. Software
  - 6.1.1.3. Services
6.2. Asia Pacific Smart Lighting Market Outlook, by Technology, Value (US$ Bn), 2018 - 2031
- 6.2.1. Key Highlights
  - 6.2.1.1. Wired
  - 6.2.1.2. Wireless
- 6.2.2. BPS Analysis/Market Attractiveness Analysis
6.3. Asia Pacific Smart Lighting Market Outlook, by Country, Value (US$ Bn), 2018 - 2031
- 6.3.1. Key Highlights
  - 6.3.1.1. China Smart Lighting Market by Offering, Value (US$ Bn), 2018 - 2031
  - 6.3.1.2. China Smart Lighting Market by Technology, Value (US$ Bn), 2018 - 2031
  - 6.3.1.3. Japan Smart Lighting Market by Offering, Value (US$ Bn), 2018 - 2031
  - 6.3.1.4. Japan Smart Lighting Market by Technology, Value (US$ Bn), 2018 - 2031
  - 6.3.1.5. South Korea Smart Lighting Market by Offering, Value (US$ Bn), 2018 - 2031
  - 6.3.1.6. South Korea Smart Lighting Market by Technology, Value (US$ Bn), 2018 - 2031
  - 6.3.1.7. India Smart Lighting Market by Offering, Value (US$ Bn), 2018 - 2031
  - 6.3.1.8. India Smart Lighting Market by Technology, Value (US$ Bn), 2018 - 2031
  - 6.3.1.9. Southeast Asia Smart Lighting Market by Offering, Value (US$ Bn), 2018 - 2031
  - 6.3.1.10. Southeast Asia Smart Lighting Market by Technology, Value (US$ Bn), 2018 - 2031
  - 6.3.1.11. Rest of Asia Pacific Smart Lighting Market by Offering, Value (US$ Bn), 2018 - 2031
  - 6.3.1.12. Rest of Asia Pacific Smart Lighting Market by Technology, Value (US$ Bn), 2018 - 2031
- 6.3.2. BPS Analysis/Market Attractiveness Analysis

7. Latin America Smart Lighting Market Outlook, 2018 - 2031

7.1. Latin America Smart Lighting Market Outlook, by Offering, Value (US$ Bn), 2018 - 2031
- 7.1.1. Key Highlights
  - 7.1.1.1. Hardware
  - 7.1.1.2. Software
  - 7.1.1.3. Services
7.2. Latin America Smart Lighting Market Outlook, by Technology, Value (US$ Bn), 2018 - 2031
- 7.2.2. BPS Analysis/Market Attractiveness Analysis
7.3. Latin America Smart Lighting Market Outlook, by Country, Value (US$ Bn), 2018 - 2031
- 7.3.1. Key Highlights
  - 7.3.1.1. Brazil Smart Lighting Market by Offering, Value (US$ Bn), 2018 - 2031
  - 7.3.1.2. Brazil Smart Lighting Market by Technology, Value (US$ Bn), 2018 - 2031
  - 7.3.1.3. Mexico Smart Lighting Market by Offering, Value (US$ Bn), 2018 - 2031
  - 7.3.1.4. Mexico Smart Lighting Market by Technology, Value (US$ Bn), 2018 - 2031
  - 7.3.1.5. Argentina Smart Lighting Market by Offering, Value (US$ Bn), 2018 - 2031
  - 7.3.1.6. Argentina Smart Lighting Market by Technology, Value (US$ Bn), 2018 - 2031
  - 7.3.1.7. Rest of Latin America Smart Lighting Market by Offering, Value (US$ Bn), 2018 - 2031
  - 7.3.1.8. Rest of Latin America Smart Lighting Market by Technology, Value (US$ Bn), 2018 - 2031
- 7.3.2. BPS Analysis/Market Attractiveness Analysis

8. Middle East & Africa Smart Lighting Market Outlook, 2018 - 2031

8.1. Middle East & Africa Smart Lighting Market Outlook, by Offering, Value (US$ Bn), 2018 - 2031
- 8.1.1. Key Highlights
  - 8.1.1.1. Hardware
  - 8.1.1.2. Software
  - 8.1.1.3. Services
8.2. Middle East & Africa Smart Lighting Market Outlook, by Technology, Value (US$ Bn), 2018 - 2031
- 8.2.1. Key Highlights
  - 8.2.1.1. Wired
  - 8.2.1.2. Wireless
- 8.2.2. BPS Analysis/Market Attractiveness Analysis
8.3. Middle East & Africa Smart Lighting Market Outlook, by Country, Value (US$ Bn), 2018 - 2031
- 8.3.1. Key Highlights
  - 8.3.1.1. GCC Smart Lighting Market by Offering, Value (US$ Bn), 2018 - 2031
  - 8.3.1.2. GCC Smart Lighting Market by Technology, Value (US$ Bn), 2018 - 2031
  - 8.3.1.3. South Africa Smart Lighting Market by Offering, Value (US$ Bn), 2018 - 2031
  - 8.3.1.4. South Africa Smart Lighting Market by Technology, Value (US$ Bn), 2018 - 2031
  - 8.3.1.5. Egypt Smart Lighting Market by Offering, Value (US$ Bn), 2018 - 2031
  - 8.3.1.6. Egypt Smart Lighting Market by Technology, Value (US$ Bn), 2018 - 2031
  - 8.3.1.7. Nigeria Smart Lighting Market by Offering, Value (US$ Bn), 2018 - 2031
  - 8.3.1.8. Nigeria Smart Lighting Market by Technology, Value (US$ Bn), 2018 - 2031
  - 8.3.1.9. Rest of Middle East & Africa Smart Lighting Market by Offering, Value (US$ Bn), 2018 - 2031
  - 8.3.1.10. Rest of Middle East & Africa Smart Lighting Market by Technology, Value (US$ Bn), 2018 - 2031
- 8.3.2. BPS Analysis/Market Attractiveness Analysis

9. Competitive Landscape

9.1. Company Market Share Analysis, 2023
9.2. Competitive Dashboard
9.3. Company Profiles
- 9.3.1. Cree, Inc
  - 9.3.1.1. Company Overview
  - 9.3.1.2. Therapy Portfolio
  - 9.3.1.3. Financial Overview
  - 9.3.1.4. Business Strategies and Development
- 9.3.2. Hubbell Lighting, Inc.
  - 9.3.2.1. Company Overview
  - 9.3.2.2. Therapy Portfolio
  - 9.3.2.3. Financial Overview
  - 9.3.2.4. Business Strategies and Development
- 9.3.3. GE Lighting, LLC
  - 9.3.3.1. Company Overview
  - 9.3.3.2. Therapy Portfolio
  - 9.3.3.3. Financial Overview
  - 9.3.3.4. Business Strategies and Development
- 9.3.4. OSRAM light AG
  - 9.3.4.1. Company Overview
  - 9.3.4.2. Therapy Portfolio
  - 9.3.4.3. Financial Overview
  - 9.3.4.4. Business Strategies and Development
- 9.3.5. Royal Philips NV
  - 9.3.5.1. Company Overview
  - 9.3.5.2. Therapy Portfolio
  - 9.3.5.3. Financial Overview
  - 9.3.5.4. Business Strategies and Development
- 9.3.6. Acuity Brands Lighting, Inc.
  - 9.3.6.1. Company Overview
  - 9.3.6.2. Therapy Portfolio
  - 9.3.6.3. Financial Overview
  - 9.3.6.4. Business Strategies and Development
- 9.3.7. Honeywell International Inc.
  - 9.3.7.1. Company Overview
  - 9.3.7.2. Therapy Portfolio
  - 9.3.7.3. Financial Overview
  - 9.3.7.4. Business Strategies and Development
- 9.3.8. Panasonic Corporation
  - 9.3.8.1. Company Overview
  - 9.3.8.2. Therapy Portfolio
  - 9.3.8.3. Financial Overview
  - 9.3.8.4. Business Strategies and Development
- 9.3.9. Schneider Electrical S.E
  - 9.3.9.1. Company Overview
  - 9.3.9.2. Therapy Portfolio
  - 9.3.9.3. Financial Overview
  - 9.3.9.4. Business Strategies and Development
- 9.3.10. Eaton Corporation
  - 9.3.10.1. Company Overview
  - 9.3.10.2. Therapy Portfolio
  - 9.3.10.3. Financial Overview
  - 9.3.10.4. Business Strategies and Development
- 9.3.11. Others
  - 9.3.11.1. Company Overview
  - 9.3.11.2. Therapy Portfolio
  - 9.3.11.3. Financial Overview
  - 9.3.11.4. Business Strategies and Development

10. Appendix

10.1. Research Methodology
10.2. Report Assumptions
10.3. Acronyms and Abbreviations