The GMI Research's latest analysis reveals that the Smart Lighting Market is slated to register a significant CAGR over the forecast period. This is attributed to the growing smart city projects in emerging countries, the introduction of integrated lighting systems, increasing awareness regarding the advantages of LEDs, and the reducing price of LEDs.

DUBLIN, DUBLIN -- (SBWire) -- 03/05/2021 --Smart Lighting Market Dynamics (including market size, share, trends, growth, forecast, and industry analysis)

Key Drivers

The growing smart city projects in emerging countries and the introduction of integrated lighting systems are the key drivers propelling the growth of the global smart lighting market size. Several governments emphasize developing sustainable smart cities that utilize information and communication technologies (ICTs) and other means to enhance the quality of life, effectiveness of urban operation and services while fulfilling the requirements of future and present generations concerning social, economic, and environmental aspects. For example, Dubai's government has introduced the "Dubai Plan 2021," which focuses on transforming the city into a leading smart city.

According to the smart lighting market analysis, the increasing awareness regarding the advantages of LEDs, followed by the reducing price of LEDs, will further surge the growth of the smart lighting market share in terms of revenue in the upcoming years. The LED lights provide various benefits, such as have a better lifespan, it is energy-efficient, and works in severe temperatures. The emergence of integrated lighting systems with smartphones and the development of several smart home systems like Samsung SmartThings Hub, Google Assistant, and Amazon Alexa are the emerging smart lighting market trends that will further attract many customers to opt for smart lighting systems globally.

According to the smart lighting market forecast, the outbreak of the COVID-19 has negatively impacted the growth of the smart lighting market as the stringent lockdown has hindered the raw material supplies of electronic components owing to the sudden shutdown of manufacturing plants in China. The increasing interruption in the supply chain is driven by the decline in demand for smart lighting systems. However, the market is projected to bounce back in 2021 at a substantial rate from 2022.

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Smart Lighting Market's leading Manufacturers:

- Signify Holding
- Legrand
- Acuity Brands Lighting, Inc.
- Eaton Corporation
- General Electric Company
- OSRAM GmbH.
- Leviton Manufacturing Co.
- Lutron Electronics
- Zumtobel Group AG
- Honeywell International Inc.
- Hubbell Incorporated

Installation Segment Drivers

On the basis of installation, the global smart lighting market is segmented into new installation and retrofit installation. The new installation is anticipated to lead the market over the coming years due to the strong demand for smart lighting systems across numerous places like corporate offices, shopping malls, parking spaces, and homes. In addition to this, the development of wireless technologies and the rapid development in electronics and sensor technology have become mandatory for the customers to opt for smart lighting systems. All these factors are contributing to the growth of the market during the forecast period.

To Know More About Smart Lighting Market

Smart Lighting Market Segmentation:

Segmentation by Installation Type:

- New Installations
- Retrofit Installations

Segmentation by Offering:

- Hardware

o Lights & Luminaries
? Smart Bulbs
? Fixtures
o Lighting Controls
? LED Drivers & Ballasts
? Sensors
? Switches
- Manual On/Off Switches
- Electronic Switches
? Dimmers
- Wired Dimmers
- Wireless Dimmers
? Relay Units
? Gateways

- Software

o Local/Web-Based Software
o Cloud-Based Software

- Services

o Pre-installation Services
o Post-installation Services

Segmentation by End-Use Application:

- Indoor

o Residential
o Commercial
? Retail
? Hospitality
? Office Lighting
o Industrial
o Others

- Outdoor

o Highways & Roadways Lighting
o Architectural Lighting
o Lighting for Public Places

Segmentation by Communication Technology:

- Wired Technology

o DALI
o Power Over Ethernet (PoE)
o Wired Hybrid Protocols

- Wireless

o ZigBEE
o Wi-Fi
o BLE
o EnOcean
o 6LoWPAN
o Wireless Hybrid Protocols

Segmentation by Region:

- North America

o United States of America
o Canada

- Asia Pacific

o China
o Japan
o India
o Rest of APAC

- Europe

o United Kingdom
o Germany
o France
o Spain
o Rest of Europe

- RoW

o Brazil
o South Africa
o Saudi Arabia
o UAE
o Rest of the world (remaining countries of the LAMEA region)

Our Other Related Reports:

1. Saudi Arabia Smart Lighting Market
2. GCC Smart Lighting Market

About GMI Research

GMI Research is one of the leading market research and consulting company that offers consulting services, syndicated research reports, and customized market research reports. We help our client to make informed business decisions and provide market intelligence studies related to the various industries such as automotive, energy, healthcare, chemicals, technology, and other sectors. Our research teams include seasoned analysts and researchers have hands-on experience in every regions, including Asia-pacific, Europe, North America, and the Rest of the World. Our market research report provides in-depth analysis, which contains refined forecasts, a bird's eye view of the competitive landscape, factors impacting the market growth, and several other market insights to aid companies in making strategic decisions. Featured in the 'Top 20 Most Promising Market Research Consultants' list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to help our clients to stay ahead of the curve.