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Smart Lighting Market Size, Share & Trends Analysis Report by Component, by Connectivity (Wired, Wireless), by Application (Indoor, Outdoor), by Region, and Segment Forecasts, 2021-2028

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  • 110 Pages
  • August 2021
  • Region: Global
  • Grand View Research
  • ID: 5415439
Description Jump to:
The global smart lighting market size is expected to reach USD 46.90 billion by 2028, registering a CAGR of 20.4%, from 2021 to 2028. The market growth is attributable to the development of smart cities, the rising trend of smart homes, intelligent street lighting systems, and the need for implementing energy-efficient lighting systems. Although smart lights are expensive compared to general lights, their advantages outweigh the overall installation cost. However, the high price of smart lights restricted market growth as the purchasing capacity of the middle-class income group declined during the COVID-19 pandemic.

The new trend of home automation is penetrating houses with middle and high-income group consumers. The trend is further fueled by constantly evolving IoT technology for smart homes; wherein smart lights can be connected to control the functions of electronic devices. Moreover, personal assistants such as Alexa, Crotona, and Siri can be synced with a smart light app to control lighting hue, brightness, on/off time, and other functions using only voice commands. Similar transformation using smart lights has also penetrated the commercial spaces. Retail has emerged as the top beneficiary of smart lighting. Apart from energy efficiency, the “smart” lighting systems installed in retail stores are leveraging Bluetooth Low Energy (BLE) and Visible Light Communication (VLC) technology which allows LED light fixtures to communicate wirelessly with the antennas and cameras in smartphones. Thus smart lighting technology helps retailers reach customers visiting the shop premises to send offers and product availability information based on their purchasing pattern. Similar add-on integrated functions are expected to augment the market growth in the upcoming years.

The residential, commercial, and industrial sector is slowly making in-roads with the integration of Artificial Intelligence (AI), Internet of Things (IoT), and other technologies to extend the capability of smart lights. With aid from AI in the local network, the smart light creates safe and sustainable lighting solutions while safeguarding users' privacy as the data is not uploaded to the cloud. Data privacy has been one of the main concerns when smart lighting is connected via Wi-Fi and other wireless methods to electronic appliances. It serves as a way for hackers to infiltrate the premise network to access personal information. Moreover, the incidence of hacking has increased during COVID-19 across the internet-connected infrastructure. Hence, building a robust security infrastructure to provide internet-free offline connectivity can restrict the hacker and improve efficiency and adoption of smart lighting over the forecast period.

Smart Lighting Market Report Highlights

  • The wireless segment in the market is anticipated to witness the fastest growth over the forecast period. The growth is attributed to demand for quick connectivity in the confined area using Z-wave, ZigBee, Wi-Fi, and Bluetooth
  • The hardware segment is expected to attain the highest revenue contribution in 2020 as lamps and fixtures are an inseparable component of smart lighting. The lamp and luminaire are integrated with sensors, dimmers, and other electronic components to perform controllable functions such as changing hues, dimming based on outside weather, and switching on/off as per set time
  • The Asia Pacific region is expected to witness the highest growth rate over the forecast period owing to the large-scale development of smart city projects in China, Japan, and South Korea. Moreover, increasing investment from India, Singapore, Thailand, and Malaysia to install energy-efficient smart lighting will bolster the market growth across Asian countries
  • Some of the major players operating in the market are Acuity Brands; Signify Holding; Honeywell International Inc.; Ideal Industries, Inc.; Häfele GmbH & Co KG; Wipro Consumer Lighting; YEELIGHT; Schneider Electric SA; and Honeywell Inc. These vendors are dominant players in the market owing to their extensive product portfolio offering a smart lighting lamp and luminaires

Table of Contents

Chapter 1. Methodology and Scope
1.1. Market Segmentation and Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Purchased database
1.3.2. Internal database
1.3.3. Secondary sources and third-party perspectives
1.3.4. Primary research
1.4. Information Analysis
1.5. Market Formulation and Data Visualization
1.6. Data Validation and Publishing
Chapter 2. Executive Summary
2.1. Market Snapshot
2.2. Segment Outlook
2.2.1. Global smart lighting market, 2017 - 2028
2.2.1.1. Global smart lighting market, by region, 2017 - 2028
2.2.1.2. Global smart lighting market, by component, 2017 - 2028
2.2.1.3. Global smart lighting market, by connectivity, 2017 - 2028
2.2.1.4. Global smart lighting market, by application, 2017 - 2028
Chapter 3. Smart lighting Market Variables, Trends, and Scope
3.1. Penetration and Growth Prospect Mapping
3.2. Industry Value Chain Analysis
3.3. Market Dynamics
3.3.1. Market driver analysis
3.3.2. Market challenge/restraint analysis
3.4. Business Environment Analysis Tools
3.4.1. Industry analysis - Porter’s five forces analysis
3.4.2. PEST analysis
3.5. Smart lighting Market: COVID-19 Impact Analysis
Chapter 4. Smart lighting Market: Component Estimates & Trends Analysis
4.1. Component Market Analysis & Market Share, 2020 & 2028
4.1.1. Hardware
4.1.1.1. Global hardware market, by region, 2017 - 2028 (USD Million)
4.1.1.2. Lamp
4.1.1.2.1. Global lamp market, by region, 2017 - 2028 (USD Million)
4.1.1.3. Luminaire
4.1.1.3.1. Global luminaire market, by region, 2017 - 2028 (USD Million)
4.1.2. Software
4.1.2.1. Global software market, by region, 2017 - 2028 (USD Million)
4.1.3. Services
4.1.3.1. Global services market, by region, 2017 - 2028 (USD Million)
Chapter 5. Smart lighting Market: Connectivity Estimates & Trends Analysis
5.1. Connectivity Market Analysis & Market Share, 2020 & 2028
5.1.1. Wired
5.1.1.1. Global wired market, by region, 2017 - 2028 (USD Million)
5.1.2. Wireless
5.1.2.1. Global wireless market, by region, 2017 - 2028 (USD Million)
Chapter 6. Smart Lighting Market: Application Estimates & Trends Analysis
6.1. Application Market Analysis & Market Share, 2020 & 2028
6.1.1. Indoor
6.1.1.1. Global indoor market, by region, 2017 - 2028 (USD Million)
6.1.1.2. Residential
6.1.1.2.1. Global residential market, by region, 2017 - 2028 (USD Million)
6.1.1.3. Commercial & Industrial
6.1.1.3.1. Global commercial and Industrial market, by region, 2017 - 2028 (USD Million)
6.1.2. Outdoor
6.1.2.1. Global outdoor market, by region, 2017 - 2028 (USD Million)
6.1.2.2. Highways & Roadways
6.1.2.2.1. Global highways& roadways market, by region, 2017 - 2028 (USD Million)
6.1.2.3. Architectural
6.1.2.3.1. Global architectural market, by region, 2017 - 2028 (USD Million)
6.1.2.4. Others
6.1.2.4.1. Global other outdoor application market, by region, 2017 - 2028 (USD Million)
Chapter 7. Smart Lighting Market: Regional Estimates & Trend analysis
7.1. Regional Market Analysis & Market Share, 2020 & 2028
7.1.1. North America
7.1.1.1. North America smart lighting market, by component, 2017 - 2028 (USD Million)
7.1.1.2. North America smart lighting market, by connectivity, 2017 - 2028 (USD Million)
7.1.1.3. North America smart lighting market, by application, 2017 - 2028 (USD Million)
7.1.1.4. U.S.
7.1.1.4.1. U.S. smart lighting market, by component, 2017 - 2028 (USD Million)
7.1.1.4.2. U.S. smart lighting market, by connectivity, 2017 - 2028 (USD Million)
7.1.1.4.3. U.S. smart lighting market, by application, 2017 - 2028 (USD Million)
7.1.1.5. Canada
7.1.1.5.1. Canada smart lighting market, by component, 2017 - 2028 (USD Million)
7.1.1.5.2. Canada smart lighting market, by connectivity, 2017 - 2028 (USD Million)
7.1.1.5.3. Canada smart lighting market, by application, 2017 - 2028 (USD Million)
7.1.2. Europe
7.1.2.1. Europe smart lighting market, by component, 2017 - 2028 (USD Million)
7.1.2.2. Europe smart lighting market, by connectivity, 2017 - 2028 (USD Million)
7.1.2.3. Europe smart lighting market, by application, 2017 - 2028 (USD Million)
7.1.2.4. U.K.
7.1.2.4.1. U.K. smart lighting market, by component, 2017 - 2028 (USD Million)
7.1.2.4.2. U.K. smart lighting market, by connectivity, 2017 - 2028 (USD Million)
7.1.2.4.3. U.K. smart lighting market, by application, 2017 - 2028 (USD Million)
7.1.2.5. Germany
7.1.2.5.1. Germany smart lighting market, by component, 2017 - 2028 (USD Million)
7.1.2.5.2. Germany smart lighting market, by connectivity, 2017 - 2028 (USD Million)
7.1.2.5.3. Germany smart lighting market, by application, 2017 - 2028 (USD Million)
7.1.3. Asia Pacific
7.1.3.1. Asia Pacific smart lighting market, by component, 2017 - 2028 (USD Million)
7.1.3.2. Asia Pacific smart lighting market, by connectivity, 2017 - 2028 (USD Million)
7.1.3.3. Asia Pacific smart lighting market, by application, 2017 - 2028 (USD Million)
7.1.3.4. China
7.1.3.4.1. China smart lighting market, by component, 2017 - 2028 (USD Million)
7.1.3.4.2. China smart lighting market, by connectivity, 2017 - 2028 (USD Million)
7.1.3.4.3. China smart lighting market, by application, 2017 - 2028 (USD Million)
7.1.3.5. India
7.1.3.5.1. India smart lighting market, by component, 2017 - 2028 (USD Million)
7.1.3.5.2. India smart lighting market, by connectivity, 2017 - 2028 (USD Million)
7.1.3.5.3. India smart lighting market, by application, 2017 - 2028 (USD Million)
7.1.3.6. Japan
7.1.3.6.1. Japan smart lighting market, by component, 2017 - 2028 (USD Million)
7.1.3.6.2. Japan smart lighting market, by connectivity, 2017 - 2028 (USD Million)
7.1.3.6.3. Japan smart lighting market, by application, 2017 - 2028 (USD Million)
7.1.4. Latin America
7.1.4.1. Latin America smart lighting market, by component, 2017 - 2028 (USD Million)
7.1.4.2. Latin America smart lighting market, by connectivity, 2017 - 2028 (USD Million)
7.1.4.3. Latin America smart lighting market, by application, 2017 - 2028 (USD Million)
7.1.4.4. Brazil
7.1.4.4.1. Brazil smart lighting market, by component, 2017 - 2028 (USD Million)
7.1.4.4.2. Brazil smart lighting market, by connectivity, 2017 - 2028 (USD Million)
7.1.4.4.3. Brazil smart lighting market, by application, 2017 - 2028 (USD Million)
7.1.4.5. Mexico
7.1.4.5.1. Mexico smart lighting market, by component, 2017 - 2028 (USD Million)
7.1.4.5.2. Mexico smart lighting market, by connectivity, 2017 - 2028 (USD Million)
7.1.4.5.3. Mexico smart lighting market, by application, 2017 - 2028 (USD Million)
7.1.5. Middle East & Africa
7.1.5.1. Middle East & Africa smart lighting market, by component, 2017 - 2028 (USD Million)
7.1.5.2. Middle East & Africa smart lighting market, by connectivity, 2017 - 2028 (USD Million)
7.1.5.3. Middle East & Africa smart lighting market, by application, 2017 - 2028 (USD Million)
Chapter 8. Competitive Analysis
8.1. Recent Developments & Impact Analysis, By Key Market Participants
8.2. Company/Competition Categorization (Key Innovators, Market leaders, Emerging Players)
8.3. Key Company Market Ranking Analysis, 2020
Chapter 9. Competitive Landscape
9.1. Company Profiles
9.1.1. Acuity Brands
9.1.1.1. Company overview
9.1.1.2. Financial performance
9.1.1.3. Product benchmarking
9.1.1.4. Strategic initiatives
9.1.2. Signify Holding
9.1.2.1. Company overview
9.1.2.2. Financial performance
9.1.2.3. Product benchmarking
9.1.2.4. Strategic initiatives
9.1.3. Honeywell International Inc.
9.1.3.1. Company overview
9.1.3.2. Financial performance
9.1.3.3. Product benchmarking
9.1.3.4. Strategic initiatives
9.1.4. Itron Inc. (Streetlight Vision)
9.1.4.1. Company overview
9.1.4.2. Financial performance
9.1.4.3. Product benchmarking
9.1.4.4. Strategic initiatives
9.1.5. Ideal Industries, Inc.
9.1.5.1. Company overview
9.1.5.2. Financial performance
9.1.5.3. Product benchmarking
9.1.5.4. Strategic initiatives
9.1.6. Häfele GmbH & Co KG
9.1.6.1. Company overview
9.1.6.2. Financial performance
9.1.6.3. Product benchmarking
9.1.6.4. Strategic initiatives
9.1.7. Wipro Consumer Lighting
9.1.7.1. Company overview
9.1.7.2. Financial performance
9.1.7.3. Product benchmarking
9.1.7.4. Strategic initiatives
9.1.8. YEELIGHT
9.1.8.1. Company overview
9.1.8.2. Financial performance
9.1.8.3. Product benchmarking
9.1.8.4. Strategic initiatives
9.1.9. Sengled Optoelectronics Co., Ltd.
9.1.9.1. Company overview
9.1.9.2. Financial performance
9.1.9.3. Product benchmarking
9.1.9.4. Strategic initiatives
9.1.10. Verizon
9.1.10.1. Company overview
9.1.10.2. Financial performance
9.1.10.3. Product benchmarking
9.1.10.4. Strategic initiatives
List of Tables
Table 1 List of abbreviation
Table 2 Smart lighting market, 2017 - 2028 (USD Million)
Table 3 Smart lighting market, by region, 2017 - 2028 (USD Million)
Table 4 Smart lighting market, by component, 2017 - 2028 (USD Million)
Table 5 Smart lighting market, by connectivity, 2017 - 2028 (USD Million)
Table 6 Smart lighting market, by application, 2017 - 2028 (USD Million)
Table 7 Global hardware smart lighting, by region, 2017 - 2028 (USD Million)
Table 8 Global smart lighting lamp, by region, 2017 - 2028 (USD Million)
Table 9 Global smart lighting luminaire, by region, 2017 - 2028 (USD Million)
Table 10 Global software smart lighting, by region, 2017 - 2028 (USD Million)
Table 11 Global services smart lighting, by region, 2017 - 2028 (USD Million)
Table 12 Global wired smart lighting, by region, 2017 - 2028 (USD Million)
Table 13 Global wireless smart lighting, by region, 2017 - 2028 (USD Million)
Table 14 Global indoor smart lighting, by region, 2017 - 2028 (USD Million)
Table 15 Global residential smart lighting, by region, 2017 - 2028 (USD Million)
Table 16 Global commercial and industrial smart lighting, by region, 2017 - 2028 (USD Million)
Table 17 Global outdoor smart lighting, by region, 2017 - 2028 (USD Million)
Table 18 Global highways & roadways smart lighting, by region, 2017 - 2028 (USD Million)
Table 19 Global architectural smart lighting, by region, 2017 - 2028 (USD Million)
Table 20 Global other smart lighting, by region, 2017 - 2028 (USD Million)
Table 21 North America smart lighting market, by component, 2017 - 2028 (USD Million)
Table 22 North America smart lighting market, by connectivity, 2017 - 2028 (USD Million)
Table 23 North America smart lighting market, by application, 2017 - 2028 (USD Million)
Table 24 U.S. smart lighting market, by component, 2017 - 2028 (USD Million)
Table 25 U.S. smart lighting market, by connectivity, 2017 - 2028 (USD Million)
Table 26 U.S. smart lighting market, by application, 2017 - 2028 (USD Million)
Table 27 Canada smart lighting market, by component, 2017 - 2028 (USD Million)
Table 28 Canada smart lighting market, by connectivity, 2017 - 2028 (USD Million)
Table 29 Canada smart lighting market, by application, 2017 - 2028 (USD Million)
Table 30 Europe smart lighting market, by component, 2017 - 2028 (USD Million)
Table 31 Europe smart lighting market, by connectivity, 2017 - 2028 (USD Million)
Table 32 Europe smart lighting market, by application, 2017 - 2028 (USD Million)
Table 33 U.K. smart lighting market, by component, 2017 - 2028 (USD Million)
Table 34 U.K. smart lighting market, by connectivity, 2017 - 2028 (USD Million)
Table 35 U.K. smart lighting market, by application, 2017 - 2028 (USD Million)
Table 36 Germany smart lighting market, by component, 2017 - 2028 (USD Million)
Table 37 Germany smart lighting market, by connectivity, 2017 - 2028 (USD Million)
Table 38 Germany smart lighting market, by application, 2017 - 2028 (USD Million)
Table 39 Asia Pacific smart lighting market, by component, 2017 - 2028 (USD Million)
Table 40 Asia Pacific smart lighting market, by connectivity, 2017 - 2028 (USD Million)
Table 41 Asia Pacific smart lighting market, by application, 2017 - 2028 (USD Million)
Table 42 China smart lighting market, by component, 2017 - 2028 (USD Million)
Table 43 China smart lighting market, by connectivity, 2017 - 2028 (USD Million)
Table 44 China smart lighting market, by application, 2017 - 2028 (USD Million)
Table 45 India smart lighting market, by component, 2017 - 2028 (USD Million)
Table 46 India smart lighting market, by connectivity, 2017 - 2028 (USD Million)
Table 47 India smart lighting market, by application, 2017 - 2028 (USD Million)
Table 48 Japan smart lighting market, by component, 2017 - 2028 (USD Million)
Table 49 Japan smart lighting market, by connectivity, 2017 - 2028 (USD Million)
Table 50 Japan smart lighting market, by application, 2017 - 2028 (USD Million)
Table 51 Latin America smart lighting market, by component, 2017 - 2028 (USD Million)
Table 52 Latin America smart lighting market, by connectivity, 2017 - 2028 (USD Million)
Table 53 Latin America smart lighting market, by application, 2017 - 2028 (USD Million)
Table 54 Brazil smart lighting market, by component, 2017 - 2028 (USD Million)
Table 55 Brazil smart lighting market, by connectivity, 2017 - 2028 (USD Million)
Table 56 Brazil smart lighting market, by application, 2017 - 2028 (USD Million)
Table 57 Mexico smart lighting market, by component, 2017 - 2028 (USD Million)
Table 58 Mexico smart lighting market, by connectivity, 2017 - 2028 (USD Million)
Table 59 Mexico smart lighting market, by application, 2017 - 2028 (USD Million)
Table 60 MEA smart lighting market, by component, 2017 - 2028 (USD Million)
Table 61 MEA smart lighting market, by connectivity, 2017 - 2028 (USD Million)
Table 62 MEA smart lighting market, by application, 2017 - 2028 (USD Million)
List of Figures
Fig. 1 Market research process
Fig. 2 Information procurement
Fig. 3 Market snapshot
Fig. 4 Smart lighting market, 2017 - 2028 (USD Million)
Fig. 5 Market segmentation and scope
Fig. 6 Value chain analysis
Fig. 7 Market penetration & growth prospect mapping
Fig. 8 PEST analysis
Fig. 9 Porter’s five forces analysis
Fig. 10 Key company market ranking analysis, 2020
Fig. 11 Component segment analysis & market share, 2020 & 2028
Fig. 12 Connectivity segment analysis & market share, 2020 & 2028
Fig. 13 Application segment analysis & market share, 2020 & 2028
Fig. 14 Regional segment analysis & market share, 2020 & 2028

Companies Mentioned

  • Acuity Brands
  • Signify Holding
  • Honeywell International Inc.
  • Itron Inc. (Streetlight Vision)
  • Ideal Industries, Inc.
  • Häfele GmbH & Co KG
  • Wipro Consumer Lighting
  • YEELIGHT
  • Sengled Optoelectronics Co., Ltd.
  • Verizon

Methodology

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Table Information

Report AttributeDetails
No. of Pages110
PublishedAugust 2021
Forecast Period2021 - 2028
Estimated Market Value ( USD ) in 2021 $ 12.75 billion
Forecasted Market Value ( USD ) by 2028 $ 46.9 billion
Compound Annual Growth Rate20.5%
Regions CoveredGlobal
No. of Companies Mentioned10

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