Showing posts with label Smart Lighting Market Drivers. Show all posts
Showing posts with label Smart Lighting Market Drivers. Show all posts

Smart Lighting Market Is Set To Touch $47,674.3 Million by 2030

 Smart lighting is a system that uses energy-saving automated and fixture controls to make the most use of available light sources. This gives the user the flexibility to change ambient lighting based on the number of people present or the amount of daylight.

Industrial, commercial, and residential settings can use smart lighting devices, which often feature a touchscreen panel and wall keypad.



The lighting may also be accessed via a smartphone application, which makes them simple to regulate. Additionally, users of smart lighting systems may modify the color and brightness of fixtures from any location in the world.

Since many public lamps operate on high-intensity bulbs that consume mercury and other materials to function and have negative environmental consequences, smart lighting is a crucial component in the advancement of smart cities.

By 2030, it is anticipated that the smart lighting market will hit $47,674.3 million value. The development of smart cities, the rise in the need for energy-efficient lighting, and improvements in LED lighting solutions may all be attributed to the expansion.

Smart lights are used in both business and residential settings due to their capacity to link with IoT devices and provide a range of ambiances using only smartphones or tablets.

An average home uses 15% of its overall electricity for lighting, so installing LEDs may save you roughly $225 a year on energy bills.

With the increasing use of IoT devices and platforms for smart assistants, a wide range of functions, including customizable color tones, dimming, energy use monitoring, automatic on/off, Wi-Fi, and Bluetooth, have opened up new market opportunities for smart lighting.

In the marketplace for smart lighting, Europe currently holds the top spot and will continue to do so until 2030. The acceptance of common protocols for lighting management systems and the development in the use of tech-enabled workplaces are credited with driving growth in the area.

Almost 60% share is accounted for by new installations due to the urgent need to replace conventional lighting systems with innovative bulbs and related controllers.

Additionally, the entire system is being modified and updated with the most modern technology, and it is extensively employed in the newly built industrial, residential, and commercial areas.

Due to the introduction of new, intelligent technologies in LED lighting, LEDs will continue to have the fastest growth in the market for smart lighting. The high level of consumer knowledge of the advantages of switching from conventional incandescent lights to more dependable, energy-efficient lighting sources is another factor driving the market.

The majority of interior illumination in American households is provided by LED bulbs, as per the U.S. Energy Information Administration.

The three types of indoor applications are commercial, industrial, and residential. Due to the growing acceptance of fixtures and smart bulbs that users can manage to set variable mood-based illumination, the residential sector will see one of the highest growth rates in the coming years.

Additionally, the need to manage energy usage in warehouses and office buildings that are open 24/7 is fueling the need for intelligent lighting in industrial and commercial facilities. By adding smart lights with built-in sensors, you can make sure that the lights are only turned on when necessary, depending on the movement of individuals that the sensors record.

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Rising Demand for Energy-Efficient Lighting Solutions is Leading the Smart Lighting Market Growth

As per a study conducted by P&S Intelligence, the global smart lighting market is expected to generate a revenue of $27,064 million by 2024, and is predicted to advance at a 20.0% CAGR during the forecast period (2017–2023). The market is witnessing growth because of the increasing adoption of innovative technologies, including intelligent sensing and internet of things (IoT) in lighting solutions, rising need for energy-efficient lighting solutions, owing to the growing awareness regarding energy conservation, swift commercialization of the Wi-Fi technology, and gradual replacement of incandescent lamps with light-emitting diodes (LED). 


Smart cities make use of embedded sensors and devices at a number of places, such as streets and traffic signals, and the utilization of smart devices can aid in reducing the energy consumption. Moreover, smart city plans rely on open connected technology infrastructure and need the streamlining of operations for energy conservation. Smart lighting creates a powerful sensing network, through a multi-node and connected node, and collects information regarding the city’s development. 

This is resulting in the growth of the smart lighting market. A major driving factor the market is the growing utilization of energy-efficient lighting solutions. The surging demand for energy, owing to the rapidly increasing population, has resulted in the rise in electricity cost and growing government concerns regarding climate change. Since energy-efficient lighting solutions can save energy and reduce operating costs, their demand has been increasing swiftly. 


Smart lighting systems are integrated with a number of sensors and wireless technologies and are capable of decreasing the energy consumption significantly. In terms of source, the smart lighting market is categorized into LED, high intensity discharge lamp, and fluorescent lamp, among which, the LED accounted for the major share of the market in 2016 and is further predicted to advance at the fastest pace during the forecast period.




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