Intelligent lighting systems are considered to be the future of the whole lightning industry. As the lightning fixtures, such as LEDs and others are coming into the market, the smart lighting industry is expected to reach new heights. Increasing application areas and wide adoptability of smart lighting in commercial and outdoor are driving the market. Also, technological advancement in field of smart lightning is supporting the market. Smart lighting and Control Systems which is anticipated to grow at an unprecedented rate to reach the $60 billion mark by 2020. Power optimization by various methods are the key strategy which the global players are adopting in order to maximize their reach and profit.
Asia-Pacific is leading the market in the year 2015 which and will continue with this trend through the forecast period. APAC region has also emerged as the fastest growing region, anticipated to account for revenue of $24.35 billion by 2020 at a CAGR of 21.26% from 2015 to 2020.North America and Europe were in close competition in 2014.However, it is anticipated that Europe will surpass the revenue generation from North America, growing over $13.54 billion by 2020 at an estimated CAGR of 18.95% from 2015 to 2020.
The leading market players in the global Smart Lighting & Control market are- Aura Lights (Sweden), Cree (U.S.), Crompton Greaves (India), Digital Lumens (U.S.), Eyelighting International (U.S.), GE Lighting (U.S.), Havells Sylavania (India), Koninkiljke Philips NV (Netherlands), LEDZED (Spain), Lemnis Lighting (Netherlands), LIFX (Australia), Lucibel (France), Mpowerd (U.S.), OSRAM GMBH (Germany), Ritdisplay Corp. (Taiwan), TSMC Solid State Lighting Limited (Taiwan), Wisechip Semiconductors (Taiwan).
Study Objectives of Smart Lighting & Control Market Development and Demand Forecast to 2022 Market
- To provide detailed analysis of the market structure along with forecast for the next 5 years of the various segments and sub-segments of the global Smart Lighting & Control market development and demand market
- Upcoming technologies, high growth geographies and countries were identified
- Regional and country specific demand and forecast for Smart Lighting & Control were studied
- Key segments covered in the report are: Lightning Type, Components, Applications and region
- Unit breakdown for all different classification was finalized; and same was referred for forecasting, keeping few assumptions into factor
- For all the regions: forecast demand for all applications were identified and then with historical figure, data collected through primary and annual reports were triangulated to derive the regional market size
- Historical trend is identified to forecast and estimate the future value data
- Lightning Manufacturers
- Suppliers & Distributors
- Technology Providers
- Energy Distributors
- Large Organizations
- The global Smart Lighting & Control market and is expected to reach $59.97 billion by 2020.
- Fixture (LED and HID) is expected to grow at US $51.37 billion in 2020 from US $21.67 billion in 2015 with CAGR of 18.8%.
- By Application of Fixture Market, Commercial is expected to grow at US $24.64 billion in 2020 from US $6.7 billion in the year 2015.
- Regionally, Asia-Pacific holds 36% of market share in the year 2014 which is expected to grow at 52% by the end of year 2020.
Regional and Country Analysis of Smart Lighting & Control Market Estimation and Forecast
Asia-Pacific Smart Lighting Fixture and Control Market has been valued at US $9.26 billion in the year 2015 which is expected to grow US $24.35 billion followed by North America which holds second position in the year 2015. Europe is expected to dominate North America by the end of forecast period. Asia-Pacific is also fastest growing market with CAGR of 21.26%.
The reports also cover country level analysis:
- North America
- Asia – Pacific
- Rest of the World
o Middle East