Smart Lighting Market Estimated CAGR of 36.0% By 2013 to 2018 in New Research Report at RnRMarketResearch.com
(PR Web Via Acquire Media NewsEdge) Dallas, Texas (PRWEB) March 14, 2013
Smart lighting is an advance technology in lighting that makes use of intelligent lighting control systems to intelligently control light based on various parameters like occupancy, movement, color temperature, amount of natural/daylight etc. Smart lighting market is growing at a phenomenal way and main drivers for this growth are energy efficiency, development in electronics and sensor technology, eradication of incandescent lamps, favorable government policies and evolution of novel wireless technology. Entry barriers are low for this market and many new players are arriving in this market. For example: the smart lighting market in the U.S. is being dominated by start-ups that are just three years old. In the present scenario, many companies are launching new products in the market. It can be observed that LED-based products which are based on wireless technology are being launched at a large scale at present.
Commercial and industrial buildings are the most prominent application of smart lighting. In commercial buildings, lighting adds up to 40% of total energy cost. Deployment of intelligent lighting control is being supported by building owners, governments, utilities, and many other stakeholders as it helps to drastically reduce energy consumption. Public and government building have the second largest share among all application in the smart lighting market. As smart lighting projects for public and government buildings are government-funded projects, the growth of this application area will be stable as it would be given priority in every economy.
Residential buildings application has largest growth potential and will grow at the highest CAGR of 87.5% from 2013 to 2018 when compared with other application. Initial investment will pose as a restraint initially, however it is predicted that once the customers become aware of the energy savings benefits of intelligent lighting system in the long run, it will grow exponentially. Outdoor lighting application is another promising application. The greatest opportunity area in this market is the prospect of its integration with other important systems in the city like traffic signals, energy meters, pollution sensors, parking-lot lights, and traffic sensors to form a smart city. Smart lighting systems are mainly employed by high end cars. Companies like Mercedes-Benz and Audi have already incorporated the systems in their luxury cars.
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At present, Europe has the largest market for smart lighting especially in commercial industrial buildings, outdoor lighting, and automobiles applications. The presence of lighting giants like Philips (The Netherland), Osram Gmbh (Germany) and Zumtobel AG (Austria) is an important reason behind the implementation of smart lighting system in this region. Smart lighting has the second largest market in North America. Several new players have emerged in this region, especially in the U.S., who has developed breakthrough products related to smart lighting. APAC is the emerging market for smart lighting. It is believed that market will grow at an exponential rate of 37.7% between 2013 and 2018.
The report covers recent developments in the smart lighting industry like Acquity brands (U.S.), Acquiring Adura Technologies (U.S.) in January 2013 and the acquisition of Encelium Technologies (U.S.) by Osram AG (Germany). Several other acquisitions, mergers, new product launch, agreements and so on, have taken place recently and are discussed in the report.
The growth of smart lighting market is expected to be remarkable with the revenue growth from $1070 million in 2012 to $6,747.9 million by 2018, at an estimated CAGR of 36.0% from 2013 to 2018. The major players in the smart lighting industry are Philips (The Netherlands), Osram Gmbh (Germany), Acquity brands (U.S.), Zumtobel AG (Austria), Legrand S.A. (France), Lutron electronics company (U.S.) and so on. However, new entrants like NXP semiconductors (U.S.), Redwood systems (U.S.), Digital lumens (U.S.) have launched some ground breaking smart lighting products. For example: NXP has developed a range of Internet-enabled light-bulb controller chips known as GreenChip iCFL for compact fluorescents lamps (CFL) and GreenChip iSSL for LED lighting that can be linked to any device with a web connection. Redwood system (U.S.) has developed networked LED lighting architecture in which light is controlled over an Ethernet cable.
This report deals with all the driving factors, restraints, and opportunities with respect to the smart lighting market, which are helpful in identifying trends and key success factors for the industry. It also profiles companies which are active in the field of smart lighting technology.
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