Latest News- Smart Lighting Market: Commercial is expected to lead the Application segment during 2025-2029

The Smart Lighting Market is being driven by Emergence of smart lighting

The Smart Lighting Market is expected to grow at a CAGR of 18.5% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 26399.5 million. IoT technology is transforming the way businesses and organizations engage with their physical environments, and this trend is particularly evident in the realm of smart lighting solutions. Advancements in both wired and wireless technologies, as well as sensor innovations, are driving the IoT adoption in the smart lighting sector. Smart lighting systems, including smart bulbs and luminaires, provide enhanced control and interactivity compared to conventional lighting alternatives. IoT enables these fixtures to generate valuable data, which can be utilized to optimize energy usage and enhance awareness of building occupancy and the utilization of other building systems. The proliferation of smart device applications and cloud-connected lighting systems is being accelerated by the presence of IoT architectures, which are leveraged by companies to develop cutting-edge IoT smart lighting solutions for both residential and commercial applications. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • Commercial
  • Residential
  • Public infrastructure
  • Others
• Component
  • Hardware
  • Software
  • Services
• Connectivity
  • Wired
  • Wireless
• Distribution Channel
  • Online
  • Offline
• Product Type
  • Smart Bulbs
  • Smart Fixtures
  • Smart Controls
• Technology
  • LED
  • Zigbee
  • Wi-Fi
  • Bluetooth
• Geography
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • North America
    • Canada
    • US
  • APAC
    • China
    • India
    • Japan
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Emergence of smart lighting
• Increasing adoption of LEDs
• Rising need for light dimming

However, the market also witnesses some limitations, which are as follows:

• Technological challenges related to LEDs
• High average cost of LED fixtures
• Power, space, and cost constraints associated with integrating LED drivers

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Market Scope in Smart Lighting Market Research Report

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Research Analysis Overview

The Smart Lighting Market encompasses various aspects including lighting control strategies, network topologies, energy savings potential, light quality metrics, installation methods, commissioning procedures, maintenance optimization, data visualization dashboards, remote diagnostics, system integration challenges, regulatory compliance, safety standards, control algorithms, sensor fusion, predictive maintenance, energy audits, illumination levels, color consistency, flicker reduction, glare control, emergency lighting, tunable white lighting, dynamic lighting, adaptive lighting, scene settings, user interfaces, interoperability standards, open protocols, cloud connectivity, and edge computing. These features offer advanced energy savings, improved light quality, easier installation, efficient commissioning, enhanced maintenance, data-driven insights, remote system monitoring, seamless integration, regulatory adherence, safety assurance, and user-friendly control.

Market Research Overview

The Smart Lighting Market is a significant segment of the expansive Global Electrical Components and Equipment Market. This market encompasses businesses specializing in LED technology, energy-efficient lighting solutions, light intensity control, smart sensors, and wireless communication. The market size is determined by the consolidated revenue generated from manufacturers of LED lighting systems, sensors, and wireless communication components. The Smart Lighting Market's growth is driven by the increasing demand for energy efficiency, cost savings, and advanced lighting control systems in industrial, commercial, and residential applications.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/