Smart Light and Control Market Size was valued at USD 4.8 Billion in 2023. The Smart Light and Control Market industry is projected to grow from USD 6.096 Billion in 2024 to USD 32.6 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 23.32% during the forecast period (2024 - 2032). The ongoing global energy crisis and increasing initiatives for mass deployment are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Prevailing issue of global energy crisis will drive market growth.
Market CAGR for smart light and control is being driven by the prevailing issue of global energy crisis. The rising worldwide demand for energy is driving up energy prices, reducing energy supplies, and raising concerns about climate change and its accompanying consequences. Higher energy demand is expected in the future global economy. Consumption is predicted to rise by more than 50% over the next 20 to 25 years, owing mostly to increased energy consumption in developing countries such as China and India. Furthermore, the risk of climate change associated with the use of fossil fuels has impacted energy availability.
The majority of domestic, commercial, and industrial electricity use is attributed to lighting. Lighting accounts for 15% of worldwide electricity use and 5% of global greenhouse gas emissions. Using high-efficiency LED lighting is one answer to this energy problem. It is one of the key causes of the consumer trend toward smart lighting, which is contributing to the global smart lighting market's quick rise. Intelligent lighting solutions, according to the International Energy Agency (IEA), can save up to 35% more energy than traditional lighting systems. LED technology is more efficient and has a longer lifespan than other technologies, which is another reason customers are turning to this technology.
The majority of emerging economies are devoting their attention to digital awareness and digitization. Most countries are actively implementing large-scale smart city initiatives as part of their digitization agenda. Smart lighting connected device system is one of the most important components of smart city projects because it employs a connected lighting system that is easily controlled by smart devices.
In the last decade, connected lighting systems have played a significant part in the intelligent and digital transformation of modern buildings and cities. This trend is projected to continue in the forecast term as the use of loT and connected devices in smart city schemes around the world grows. The adoption of smart lighting and control systems in smart city projects is expected to cut lighting system maintenance and energy expenses by 40% in a single year. This will also have a favourable impact on the environment. Most smart cities are now installing smart lighting and control systems or improving their current retrofit systems with the help of loT sensors. The use of smart lighting and control systems in smart city projects is likely to fuel market expansion internationally.
Because of rising security concerns and a growing demand for linked streetlights, governments around the world are launching programs to mass-deploy connected streetlights.
For instance, through asset management rules and time monitoring analytics, a government in the United States was able to minimize outages and linked street light maintenance expenses by about 50% with the use of connected street lights. Rio de Janeiro's on-street lighting network has been linked with security cameras, smart traffic lights, and other connected devices as part of the "Cidade Linda" (beautiful city) effort.
The Smart Light and Control Market segmentation, based on Offering includes Software, Hardware. In 2022, the hardware sector led the market in terms of revenue share. Smart lighting hardware is further subdivided into lamps and luminaires, with the smart lamp category indicating considerable growth potential from 2022 to 2032. The popularity of connected lighting bulbs and fixtures that can change colours, dim lights, and turn on/off using a controlling device such as a smartphone or tablet is related to the hardware segment demand.
Figure1: Smart Light and Control Market, by Offering, 2022&2032(USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The Smart Light and Control Market segmentation, based on Lighting Technology, includes LED, Halogen, Incandescent, Fluorescent, and CFL. The LED category of the Smart Light and Control Market is the fastest expanding. LED lights use less energy and have a longer lifespan than traditional lighting systems. The LED market is predicted to expand due to rising demand for energy-efficient lighting systems and government programs encouraging the use of LED lights. LED lights are also less expensive and give more illumination than previous lighting systems. All of these reasons are helping to drive the LED segment's growth in the Smart Light and Control Market.
The Smart Light and Control Market segmentation, based on connectivity Technology, includes Bluetooth, Zigbee, Wifi, and DALI. In the Smart Light and Control Market, the Zigbee category has the biggest market share. Zigbee is a wireless communication protocol popular in smart lighting systems. It allows for low-cost, low-power wireless communication between devices. Users may manage their lighting systems using their cellphones or voice commands thanks to Zigbee technology. It also includes capabilities such as automatic dimming and lighting system scheduling. The Zigbee market is predicted to expand due to rising demand for energy-efficient lighting systems and the widespread usage of IoT technologies.
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American Smart Light and Control Market area will dominate this market; The presence of developing countries in the region is one of the primary driving factors for the market. Furthermore, the region's growing infrastructure-related activities are driving demand for smart lighting systems, propelling market expansion.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure2: Smart Light and Control Market SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Smart Light and Control Market accounts for the second-largest market share due to increased demand for intelligent lighting systems. Further, the German Smart Light and Control Market held the largest market share, and the UK Smart Light and Control Market was the fastest growing market in the European region
The Asia-Pacific Smart Light and Control Market is expected to grow at the fastest CAGR from 2023 to 2032. This is attributable to the growing demand from the commercial and residential application categories. Moreover, China’s Smart Light and Control Market held the largest market share, and the Indian Smart Light and Control Market was the fastest growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Smart Light and Control Market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Smart Light and Controlindustry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Smart Light and Control industry to benefit clients and increase the market sector. In recent years, the Smart Light and Control industry has offered some of the most significant advantages to medicine. Major players in the Smart Light and Control Market, including Ecolab Mitsui Chemicals, Inc, NUOER GROUP, Zibo Xinye Chemical Co, Ltd, Zhejiang Xinyong Biochemical Co., Ltd and others, are attempting to increase market demand by investing in research and development operations.
Hubbell Incorporated is a corporation based in the United States that creates, manufactures, and sells electrical and electronic equipment for non-residential and residential construction, industrial, and utility applications. Harvey Hubbell began Hubbell as a sole proprietorship in 1888, and the company was incorporated in Connecticut in 1905. Fortune ranks it 602nd. The electrical segment (which includes electrical systems products and lighting products) and the Power section are the company's reporting segments. In March 2021, Hubbell Control Solutions has introduced a new and enhanced NX Distributed Intelligence Lighting Control Panel (NXP2 Series), which centralizes connection points in an enclosure and provides an installer-friendly option for deploying code compliant lighting control.
OSRAM Licht AG, headquartered in Munich and Premstätten (Austria), is a German manufacturer of electric lighting. OSRAM sees itself as a high-tech photonics company with a growing emphasis on sensor technology, visualization, and light treatment. Customers are served by the corporation in the consumer, automotive, healthcare, and industrial technology sectors. OSRAM GmbH is the operating corporation of OSRAM. In April 2020, OSRAM, a global manufacturer of lighting systems and smart lighting systems, has teamed with the Polish-American business Silvair, which offers global Bluetooth-based smart lighting solutions. OSRAM supplies a Bluetooth-based smart lighting solution that is interoperable with OSRAM lighting systems through this agreement.
Acuity Brands, Inc.
Koninklijke Philips N.V.
Deco Lighting, Inc.
Cisco Systems, Inc.
Eaton
Cree, Inc.
Honeywell International Inc.
Syska
General Electric
Koninklijke Philips N.V.
In May 2023, a new luminaire called Elencia was released by Cyclone Lighting, an outdoor lighting fixtures manufacturer. It is a stylish and functional outdoor lighting that has a modern lantern design and high-performance optics.
In March 2023, Itron, Inc. signed a contract with Duquesne Light Company (DLC) to improve operational efficiency, update infrastructure and enable smart city applications. Itron intends to supply DLC with its smart street lighting solution containing LED lights, sensors and software that would dim the lights as well as collect data and control traffic. This is supposed to help DLC save energy, enhance safety and understand its users better.
In January 2023, YEELIGHT announced some products like the Cube Smart Lamp, Automatic Curtain Opener, and Smart Scene Panel, among many others, under their brand. They are compatible with the forthcoming Matter – a new standard for smart homes.
In October 2022, TSI INSTRUMENTS LTD., TSI INCORPORATED’s subsidiary, acquired Casella from IDEAL INDUSTRIES, INC., which is its occupational and environmental monitoring equipment business. The sale facilitates Ideal Industries’ focus on their core business as well as growth ambitions within the professional electrician products category of the high power density connections market superior charging solutions market.
In September 2022, Itron’s intelligent streetlighting solution was used in a pilot project for making Alcorcón in Spain into a smart city. This involves switching old streetlights to LEDs while adding Networked Lighting Controllers (NLCs) from Itron in the process. These NLCs can not only dim or switch lights off but also have the ability to report the performance status of any light using advanced settings.
In August 2022, Hafele America Co. put up for launch of the Loox Illuminated Wireless Adjustable Shelf System - one of the newest LED lighting technologies. It can also be installed in closets for frames, kitchen cabinets, pantries and even centers of entertainment. The system comes with various lighting options, adjustable shelves and wireless controllers.
In July 2022, Signify Holdings launched a line of smart WiZ luminaires, which are designed to make our daily lives more comfortable. Additional table and floor lamps were introduced; also, there is a portable light switch and new ceiling lights and lamps in the product line.
Software
Hardware
LED
Halogen
Incandescent
Fluorescent
CFL
Bluetooth
Zigbee
Wifi
DALI
North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Australia
Rest of Asia-Pacific
Rest of the World
Middle East
Africa
Latin America
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 4.8 Billion |
| Market Size 2024 | USD 6.096 Billion |
| Market Size 2032 | USD 32.6 Billion |
| Compound Annual Growth Rate (CAGR) | 23.32% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Offering, Lighting Technology, Connectivity Technology and Region |
| Geographies Covered | North America, Europe, AsiaPacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Anhui Jucheng Fine Chemicals Co., LTD, Ashland, TIANRUN SNF, BASF SE, Beijing Hengju Chemical Group, Dia-Nitrix Co., Ltd., Ecolab Mitsui Chemicals, Inc, NUOER GROUP, Zibo Xinye Chemical Co, Ltd, Zhejiang Xinyong Biochemical Co., Ltd |
| Key Market Opportunities | Rapid industrial development around the world fuels product demand. |
| Key Market Dynamics | rising Convenience Food Demand |
Smart Light Control Market Highlights:
Frequently Asked Questions (FAQ) :
The Smart Light and Control Market size was valued at USD 4.8 Billion in 2023.
The global market is projected to grow at a CAGR of 23.32% during the forecast period, 2024-2032.
North America had the largest share in the global market
The key players in the market are Ecolab Mitsui Chemicals, Inc, NUOER GROUP, Zibo Xinye Chemical Co, Ltd, Zhejiang Xinyong Biochemical Co., Ltd.
The hardware category dominated the market in 2022.
The Zigbee had the largest share in the global market.
Team Lead - Research she holds an experience of about 6+ years in market research and business consulting, working under the spectrum of information communication technology, telecommunications and semiconductor domains. aarti conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. her expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
