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Global Smart Lighting Market 2016-2020 - Introduction of Regulations and Guidelines on Smart lighting on a Global Scale - Research and Markets

[September 06, 2016]

Global Smart Lighting Market 2016-2020 - Introduction of Regulations and Guidelines on Smart lighting on a Global Scale - Research and Markets

Research and Markets has announced the addition of the "Global Smart Lighting Market 2016-2020" report to their offering.

The global smart lighting market to grow at a CAGR of 19.06% during the period 2016-2020.

Global Smart Lighting Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

A smart lighting system comprises four components: lighting source (LED or traditional lighting technologies such as LFL and CFL), sensing element, wireless connection enabling ICs (ICs for connecting the bulb to Wi-Fi, ZigBee (News - Alert), or Bluetooth), and an application software.

According to the report, one of the key drivers for market growth will be the shift in application of lighting. Governments worldwide promote smart lighting to reduce significant energy consumption, as lighting accounts for more than 20% of the global energy consumption. Furthermore, climatic changes, stringent regulations about emissions, and increasing the cost of electricity production due to increasing power consumption tariffs are some of the key contributing factors fueling the adoption of energy-efficient light sources such as smart lightin.

Further, the report states that complexity and inconvenience in repair will be a challenge for the market. One of the factors that is hampering the adoption of smart lighting is the complexity of design and architecture. Smart lighting comprises a controller, a fixture, and other accessories bundled together as one unit, which makes its structure more complex compared with a traditional lighting. Consumers feel reluctant to change a defective lamp system and therefore require a service specialist to replace it due to the lack of know-how of the overall system. Although vendors like Philips (News - Alert) are coming up with simple lighting systems, yet the design and complexity of these systems pose a challenge to the market's growth.

Key vendors