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Smart Lamp Market to Reach $25.1 Billion Globally by 2032 at 20.1% CAGR: Allied Market ResearchRising adoption of smart lamps in commercial settings, such as hotels, restaurants, and offices is anticipated to drive the growth of the global smart lamp market during the forecast period. The North America region held the majority of the market share in 2022. WILMINGTON, Del., Jan. 8, 2024 /PRNewswire/ -- Allied Market Research has recently published a report, titled, "Smart Lamp Market by Type (Incandescents, Halogen, Compact Fluorescents, Linear Fluorescents, LEDs), By Application (Residential, Commercial, Industrial, Outdoor): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the global smart lamp market generated $4.1 billion in 2022, and is anticipated to generate $25.1 billion by 2032, witnessing a CAGR of 20.1% from 2023 to 2032.  Download Research Report Sample & TOC: https://www.alliedmarketresearch.com/request-sample/9207 (We look forward to moving quickly provide the report analysis as per your research requirement, needed for your business success.)
Prime Determinants of Growth The increasing adoption of smart home technology worldwide, coupled with rising consumer awareness of energy-efficient solutions, is boosting the demand for smart lamps. Additionally, the growing trend of integrating smart lamps into commercial settings, driven by the desire for ambiance control and cost-saving benefits, is further propelling market growth. However, the increasing initial cost of smart lamps acts as a deterrent for price-sensitive consumers. This factor is expected to hamper market growth during the forecast period. On the other hand, the increasing affordability of smart lamps, driven by technological advancements and heightened competition, is expected to unlock growth opportunities in the smart lamp market. Report Coverage & Details:
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Type: LEDs Sub-Segment Expected to Grow Remarkably during the Forecast Period The LEDs sub-segment dominated the global smart lamp market share in 2022, holding a major share of 56.4%. The sub-segment is expected to observe significant growth, with a CAGR of 20.5% during the forecast period. This is mainly because of the increasing integration ease of LEDs into smart lamp systems, allowing remote control via smartphones and voice assistants like Amazon Alexa and Google Assistant. Application: Commercial Sub-Segment Anticipated to Grow with Highest CAGR by 2032 The commercial sub-segment observed significant growth in 2022 and is expected to grab a dominant position in the global market by 2032, growing with a CAGR of 21.4%. This growth is mainly due to the increasing adoption of contactless payments in commercial sectors for streamlining transactions, thus offering faster and more efficient checkouts. Inquiry before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/9207 By Region: North America Held the Dominant Position in 2022 The North America region dominated the global Smart Lamp Industry in 2022, holding a major share of 38.7%. This is mainly due to the increasing awareness and adoption of smart home technology among consumers, with a rising interest in remote lighting control through smartphone apps and voice assistants. Leading Players in the Smart Lamp Market:
The report provides a detailed analysis of the key players of the global smart lamp market. These players have adopted different strategies, such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain their dominance in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario. Key Benefits for Stakeholders
Smart Lamp Market Key Segments: By Application
By Type
By Region
Trending Reports in Semiconductor and Electronics Industry (Book Now with 10% Discount + COVID-19 Scenario): https://www.alliedmarketresearch.com/checkout-final/smart-lamp-market LED Market was valued at $78.69 billion in 2020, and is projected to reach $192.68 billion by 2030, growing at a CAGR of 8.2% from 2021 to 2030. Smart Glass and Smart Window Market was valued at $5.1 billion in 2020, and is projected to reach $19.6 billion by 2030, registering a CAGR of 15.0% from 2021 to 2030. Smart Devices Market : Global Opportunity Analysis and Industry Forecast, 2023-2032. Smart Grid Sensors Market was valued at $364.7 million in 2021, and is projected to reach $2 billion by 2031, growing at a CAGR of 18.9% from 2022 to 2031. About Us: Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry. Contact Us: David Correa Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg
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