Global Smart Lighting Market: Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020
Albany, New York (PRWEB) August 21, 2014
Lighting is one of the energy sources used worldwide. With a view to reduce the consumption of energy, it is necessary to reduce the use of this source either by using them under a set of certain conditions. Smart lighting is a technology that makes use of intelligent light control system to control light on the basis of various factors such as movement, occupancy, color, temperature, amount of natural light or daylight. Lighting systems make use of components such as controllable breakers, relays, occupancy sensors, switch actuators, dimming actuators, blindshutter actuators, receivers and transmitters. The smart light systems are deployed in a combination of light control strategies along with certain technologies to control consumption of energy. Automated lighting control systems provide highly flexible lighting at a less expensive rate. The market for smart lighting systems is growing at a substantial rate and recent advancements and technological designs for lighting systems is further anticipated to boost the growth of this industry in the near future.
Smart lighting includes High Intensity Discharge lamps (HID), Light Emitting Diode (LED) lamps, Compact Fluorescent lamps (CFL), and Fluorescent lamps. The smart lighting systems market is growing substantially. The factors contributing to this growth are lighting in commercial modernization, rising demand for Light Emitting Diodes (LED), expansion of smart lighting technology in smart cities, rapid growth of street lighting systems and increasing number of companies launching products with innovative technologies in the market. Additionally, factors such as developments in electronics and sensor technology, energy efficiency, eradication of the incandescent lamps, evolution of wireless technology and favorable government policies are further expected to fuel the market growth.
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High initial investment, incompatible wireless solutions, lack of awareness among people and organizations are the some of the factors constraining the market of smart lighting systems. However high initial investment will be a restraint initially, but as the customers become aware of the energy benefits of these lighting systems, the market will grow exponentially. Currently, industrial and commercial buildings are the most remarkable application areas of smart lighting. This market has witnessed increasingly support by governments and building owners owing to significant reduction in power consumption. Government and public buildings also have a large share among application areas for smart lighting systems. However with increase in demand for smart lightning system from residential buildings, this application segment has largest growth potential and is expected to observe substantial growth over the forecast period.
Integration of LED devices with wireless technologies has a great potential opportunity in the market. Recently, the applications of internet of things (IoT) have increased and are expected to grow further in the coming years. Therefore, the use of internet-enabled smart lighting devices is a is also expected to drive the smart lighting market. For instance, Samsung has taken initiative to launch a LED light bulb which would be integrated with a Bluetooth technology. This will make the market more attractive in terms of usability and will offer the users a customized comfort. The integration of smart lights with other systems such as energy meters, traffic signals, pollution sensors, traffic sensors and parking-lot lights has large market potential and is expected to fuel the market in near future. Smart lighting systems are also employed in high end cars.
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Currently, Europe is the largest market for smart lighting systems in industrial, commercial, public and government building applications. The existence of lighting giants like Philips, Osram Gmbh and Zumtobel AG is one of the key reasons behind the wide implementation of smart lighting system in this region. The smart lighting market in the North American region has seen considerable growth.
Some of the major players in the Smart Lighting market include Legrand S.A, Acuity Brands, Inc., Lutron Electronics Company, Inc., Zumtobel AG, Encelium Technologies, Inc., Digital Lumens, Inc., and Streetlight Vision among others.
This research report analyzes this market on the basis of its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
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This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
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