Smart Lighting Market by Manufacturers, Regions size and Forecast up to 2023

Since the late 19^th century, the average global temperatures have increased by around 0.9 °C, the National Aeronautics and Space Administration (NASA) says. The major reason behind is the greenhouse gases emitted by vehicles, houses, and industries, which trap the heat, but do not let it escape.

Apart from climate change, these emissions also cause respiratory issues, such as lung cancer, asthma, and chronic obstructive pulmonary disease (COPD). This is why, governments around the world are focusing on reducing these emissions, both by switching to renewable energy and adopting energy-efficient practices at homes and other places.

Thus, with the strong need to conserve electricity, so that the workload on the fossil-fuel-based power plants decreases, the smart lighting market is growing. Such lights are integrated with smart sensors and electronic circuits, which lead to a reduced power consumption.

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As per estimates, in the next 25 years, the worldwide electricity demand would jump by around 50%, and to meet it, 700 power plants, each with a capacity of around 500 MW, will have to be constructed, at a cost of $1 trillion. Thus, to ensure as few emissions as possible and also save on money, electricity saving via smart lights is becoming popular.

The smart lighting market growth would be the fastest in Asia-Pacific (APAC), on account of the enhancements in the technology.

Another reason behind the growing demand for smart lighting is the large number of initiatives being taken for the development of smart cities. As such infrastructure is specially designed to reduce the usage as well as check the wastage of energy, smart lighting is an essential component here.

With countries strongly pursuing the creation of such ecosystems, such as India under its ambitious Smart Cities Mission, the demand for smart lighting would continue rising in the coming years. Data related to CO₂ emissions, humidity, audio-video activities, and ultraviolet (UV) light is gathered by the sensors in such lights.