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According to the latest report by GMI Research, Smart Lighting Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2020-2027. The Global Smart Lighting Market analyzes the impact of the COVID-19 pandemic and represents that the market is forecasted to bounce back in 2021 over 2020 and estimated to grow at a higher growth rate from 2022 onwards. Smart lighting refers to the advanced lighting technology specially designed to provide an energy-efficient way to manage the lighting systems of homes and buildings. It basically consists of high-efficiency fixtures and automated controls which adjust the lighting system based on different conditions such as daylight availability.
Competitive Landscape: The Global Smart Lighting Market report also scans the competitive landscape and profiles the major players operating in the market, including Honeywell International Inc., Schneider Electric SE, Philips Lighting Holding B.V., Legrand S.A., Acuity Brands Lighting Inc., General Electric Company, CREEInc., OSRAM Licht AG, Cooper Industries Inc. (Eaton), and Lutron Electronics Co.Inc.
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The global smart lighting market is becoming more mainstream over the forecast period. The strong demand for energy-efficient lighting systems, rising application of wireless technology, and the continuous technological advancement for solutions of street lighting systems are the significant factors fuelling the growth of the smart lighting market. The development of smart cities is the major factor that is responsible for the expansion of the global smart lighting market size in the coming years.
Additionally, the Europe region is anticipated to dominate the global smart lighting market in 2016. The increasing standard of living of the people, growing deployment of smart lighting in commercial, government, residential sectors, and the stringent government rules and regulations, will further energize the demand of the market. On the other hand, the Asia-Pacific region is expected to grow at a higher CAGR over the forecast period owing to the development of several smart cities in emerging economies such as India and China.
For further information on these analyses, please visit: https://www.gmiresearch.com/report/global-smart-lighting-market/
Breakup by Product Type:
· Smart Bulbs
· Lighting Controls
Breakup by Application:
Breakup by Region:
· North America
o United States of America
· Asia Pacific
o Rest of APAC
o United Kingdom
o Rest of Europe
o South Africa
o Saudi Arabia
o Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is a market research and consulting firm which provides bespoke industry & market research to help businesses in making the toughest business decision. We know the significance of accurate data; that’s why our analyst use tailored methodology to study every market in detail because one size doesn’t fit all. We not only cover the traditional well-established market but also focuses on niche market and markets in the emerging economies, where getting data and information is a challenge. This factor makes us pioneer in emerging market research space. Our syndicate reports cover multiple industries across various regions and countries.
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