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Smart Lighting Market to grow by USD 17.20 billion from 2022 to 2027, The emergence of smart lighting to boost growth- TechnavioNEW YORK, Feb. 5, 2024 /PRNewswire/ -- The smart lighting market is estimated to grow by USD 17.20 billion from 2023 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 16.88% during the forecast period. The emergence of smart lighting is a key driver boosting the market growth. Smart lighting optimizes electricity usage by controlling lighting, heating, and cooling. It reduces costs with features like automatic activation and color adjustments, operating autonomously and adapting to users. LED adoption and IoT integration drive its global growth. Current Lighting Solutions LLC., Eaton Corp. Plc, Helvar Merca Oy Ab, Honeywell International Inc., Hubbell Inc., Legrand SA, Leviton Manufacturing Co. Inc., Lightwaverf Technology Ltd., Lutron Electronics Co. Inc., OSRAM Licht AG, RAB lighting Inc., Savant Systems Inc., Siemens AG, Signify NV, Synapse Wireless Inc., Wipro Ltd., Zumtobel Group AG, Acuity Brands Inc., Dialight Plc, and IDEAL INDUSTRIES Inc. are key companies. What's New?
Technavio has segmented the market based on Application (Commercial, Residential, Public Infrastructure, and Others), Component (Hardware, Software, and Services), and Geography (Europe, North America, APAC, South America, and Middle East and Africa).
Smart lighting: Applications Smart lighting is revolutionizing Lighting systems by integrating advanced technologies like Zigbee and Z-Wave to create Wireless networks that enable efficient energy use. LED lamps and Compact fluorescent lamps are at the forefront of this innovation, offering energy-efficient lighting solutions. These systems utilize Wireless mesh networks for seamless communication, ensuring Interoperability and enhanced control through Lighting control systems. Smart lighting is a key component of the Internet of things (IoT), leveraging Telecommunications and Mesh networking for remote management and Energy conservation. This technology is a result of advancements in Electrical engineering and Electronics, enabling the evolution of Electric light sources and Communication protocols. What are the key data covered in this Smart Lighting Market report?
Technavio's SUBSCRIPTION platform Related Reports: The Decorative Lighting Market size is estimated to grow by USD 9.99 billion at a CAGR of 5.34% between 2022 and 2027. The Global LED Lighting Market size is estimated to grow by USD 34.82 billion at a CAGR of 7.35% between 2022 and 2027. ToC: Executive Summary Market Landscape Market Sizing Historic Sizes Five Forces Analysis Segmentation by Application Segmentation by Product Segmentation by Geography Customer Landscape Geographic Landscape Drivers, Challenges, & Trends Company Landscape Company Analysis Appendix About US Contact View original content to download multimedia:https://www.prnewswire.com/news-releases/smart-lighting-market-to-grow-by-usd-17-20-billion-from-2022-to-2027--the-emergence-of-smart-lighting-to-boost-growth--technavio-302052725.html SOURCE Technavio |