Base Year
Historical Year
Forecast Year
The global smart lighting market size reached a value of USD 16.25 billion in 2023. The market is further expected to grow at a CAGR of 20% to reach a value of approximately USD 83.81 billion by 2032.
| Global Smart Lighting Market Report Summary | Description | Value |
| Base Year | USD Billion | 2023 |
| Historical Period | USD Billion | 2018-2023 |
| Forecast Period | USD Billion | 2024-2032 |
| Market Size 2023 | USD Billion | 16.25 |
| Market Size 2032 | USD Billion | 83.81 |
| CAGR 2018-2023 | Percentage | XX% |
| CAGR 2024-2032 | Percentage | 20.0% |
| CAGR 2024-2032 - Market by Region | Asia Pacific | 23.1% |
| CAGR 2024-2032 - Market by Country | India | 26.5% |
| CAGR 2024-2032 - Market by Country | China | 22.1% |
| CAGR 2024-2032 - Market by Offering | Hardware | 22.4% |
| CAGR 2024-2032 - Market by Light Source | LED Lamps | 22.6% |
| Market Share by Country 2023 | UK | 3.3% |
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The Asia Pacific region has witnessed a significant growth in the smart lighting market in the recent years and is likely to have the fastest growth over the forecast period. Developing and improving smart infrastructure throughout the region, scaling up the smart lighting system across the private and commercial sectors, and the growing government spending in public infrastructure are rising the demand growth in the region.
Smart lighting refers to an energy-efficient lighting system with power-saving features and automatic controls for smooth operation. This device allows the consumer to adjust the light intensity according to factors like occupancy or availability of daylight. Conventional lighting solutions are easily replaced because they are inexpensive, efficient, and have less power. This is also available via mobile applications that make this easy to monitor. In addition, this lighting system has allowed the monitoring of real-time illumination, intelligent sensing, and development of connected lighting technology. The evolution of Big Data and the Internet of Things (IoT) further strengthened the convergence of smart lighting with other automated devices used in smart homes.
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On the basis of offering, the smart lighting market can be divided into:
Hardware can be divided into lights and luminaires and lighting controls. Services can be segmented into design and engineering, installation, and post-installation.
Based on communication technology, the industry can be divided into:
On the basis of installation type, the industry is divided into:
Based on the light source, the industry can be divided into the following:
It finds application in the following sectors:
| CAGR 2024-2032 - Market by | Country |
| India | 26.5% |
| China | 22.1% |
| UK | 18.3% |
| USA | 17.8% |
| Germany | 16.5% |
| Canada | XX% |
| France | XX% |
| Italy | XX% |
| Japan | 13.8% |
| Australia | XX% |
| Saudi Arabia | XX% |
| Brazil | XX% |
| Mexico | XX% |
The regional markets for smart lighting include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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The development of the global smart lighting market is mainly driven by the high demand for energy-efficient lighting systems, which provide better lighting while consuming less power. In addition, factors like the modernisation and improvement of infrastructure have enabled the transformation of cities into smart cities that have driven the growth of the smart lighting market. Individuals living in urban industries tend to invest in modular and smart lighting systems instead of purchasing high-energy lights. In addition, the increasing demand for lighting systems equipped with wireless and sensor technology has further favoured the growth of the sector. International proposals for pooling lighting networks with low power consuming sensors and reducing the costs of previously costly LEDs have also contributed to the industry growth. In addition, smart lights have now become affordable to the general public as a result of dropping costs.
The report gives a detailed analysis of the following key players in the global smart lighting market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Offering |
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| Breakup by Communication Technology |
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| Breakup by Installation Type |
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| Breakup by Light Source |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the global smart lighting market attained a value of USD 16.25 billion.
In the forecast period of 2024-2032, the market is projected to grow at a CAGR of 20%.
By 2028, the market is estimated to reach a value of about USD 83.81 billion.
The major drivers of the market include the increasing modernisation of infrastructure, reducing costs of LED, the growing preference for smart and modular lighting systems.
Technological advancements and innovations and the surging adoption of Internet of Things (IoT) are the major trends guiding the market growth.
The major regions in the market are North America, the Asia Pacific, Europe, Latin America, and the Middle East and Africa.
The leading offerings of smart lighting in the market are hardware, software, and services.
The significant communication technologies in the market include wired and wireless.
New installation and retrofit installation are the major installation types of smart lighting considered in the market report.
LED lamps, fluorescent lamps, compact fluorescent lamps, and high intensity discharge lamps, among others, are the leading light sources in the market.
The significant applications of smart lighting are commercial, residential, and public infrastructure, among others.
The leading players in the market are Signify S.A., Acuity Brands Lighting, Inc, Honeywell, Legrand S.A., OSRAM GmbH, Cree Lighting, and General Electric Company, among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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