Certified Global Research Member
Isomar fd.webp Wcrc 57.webp
Key Questions Answered
  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
Why Choose Market Research Future?
  • Vigorous research methodologies for specific market.
  • Knowledge partners across the globe
  • Large network of partner consultants.
  • Ever-increasing/ Escalating data base with quarterly monitoring of various markets
  • Trusted by fortune 500 companies/startups/ universities/organizations
  • Large database of 5000+ markets reports.
  • Effective and prompt pre- and post-sales support.

Smart Lighting Market Research Report Information By Component (Software and Service), By Product Type (Luminaries and Lighting Controls), By Light Source (LED, FL, and HID), By Communication Technology (Wired and Wireless), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) โ€“ Industry Size, Share and Forecast Till 2030

ID: MRFR/SEM/0485-HCR | 110 Pages | Author: Ankit Gupta| May 2024

Global Smart Lighting Market Overview:

The Smart Lighting Market size was valued at USD 9.2 billion in 2021. The smart lighting industry is projected to grow from USD 11.05 Billion in 2022 to USD 40 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 20.1% during the forecast period (2022 - 2030). Growing smart city projects in developing nations and advancement in the integrated lighting control system are the key market drivers enhancing market growth.

Global Smart Lighting Market Overview

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Smart Lighting Market Trends

The growing use of LED lights and luminaires in outdoor lighting to boost the market growth

The major reasons for installing LEDs over conventional lights include energy and price savings. LEDs are replacing conventional light sources, including incandescent, fluorescent, high-intensity discharge (HID), and high-pressure sodium lamps in outdoor lighting applications. Outdoor lighting applications majorly include highways, roadways, public places, and stadiums. As per the US DOE, LED lighting would represent 86% of all lighting sales by 2035 due to the benefits offered by LED lights over their conventional counterparts.

Further, technological advancements and developments in various countries have revolutionized outdoor luminescence from on & off systems to smart luminescence. The adoption of loT and Al technology in the lighting industry has increased the demand for smart lighting for city streets. This leads to the rise in the need for luminescence systems that provide automated operations.

Additionally, Government policies encouraging energy conservation and environmental protection, along with stringent regulations, discourage the usage of incandescent lamps, which is expected to bolster the demand for LED smart lighting. The global lighting industry consumes around 19% of the total electricity and is accountable for around 6% of the total greenhouse gas emissions. On the contrary, LED smart lights are positively efficient. They customer almost 70% lesser energy and connect devices to collect details for future processes. They have extremely longer life spans and are free from any mercury content. Similarly, there are no dangerous greenhouse gas emissions associated with LED lights. Thus, LED technology has potentially revolutionized the entire lighting industry and infiltrated the smart lighting segment, wherein LED is a preferable choice among vendors and consumers, which has enhanced the smart lighting market CAGR across the globe in recent years.

However, advancements in wireless technology and a surge in IoT technology for hyper-connectivity between devices in smart infrastructure are expected to increase the growth of the smart lighting market revenue.

Smart Lighting Market Segment Insights:

Smart Lighting Component Insights

The Smart Lighting Market segmentation, based on components, includes software, and service. The software segment held the majority share of the Smart Lighting Market revenue. The demand for smart lighting is driven by the growing adoption of smart lighting for data-driven causes in crucial areas. The apps also assist in connecting smart lights with smart platforms such as Crotona, Alexa, and Siri to control using voice commands. However, service is the fastest-growing category over the forecast period due to the growing demand for the service of connected lighting bulbs and fixtures that can adjust hues, dim lights, and switch on/off utilizing a controlling device such as a smartphone or tablet.

Smart Lighting Product Type Insights

The Smart Lighting Market segmentation, based on product type, includes luminaries and lighting controls. The luminaries segment dominated the market in 2021 and is projected to be the faster-growing segment during the forecast period, 2022-2030. This is due to the installation of new track lights and light poles as a result of the expanding commercial building space and developing smart city initiatives. However, lighting controls are the fastest-growing category over the forecast period due to the increasing technological advancement and ever-changing controls in smart lighting solutions. Hence, rising controls enable intelligence in lighting products positively impact market growth.

March 2022: Wipro Lighting launched Aqua, a stylish range of designer office space luminaire solutions to brighten up workspaces. Aqua provides a variety of curved luminaires that are suitable for translating an architect's design intent. They are simple to install and have adjustable height suspension, which adds to the location's appeal. Wipro Lighting's Aqua is a blend of elegance and sophistication for modern interiors, with a flexible design, adaptable shape, and no visible hardware.

Smart Lighting Light Source Insights

The Smart Lighting Market data has been bifurcated by the light source into LED, FL, and HID. The LED segment dominated the market in 2021 and is projected to be the faster-growing segment during the forecast period, 2022-2030. This is attributed due to rising construction in both developing and developed countries, together with government laws limiting the use of inefficient lighting systems. However, HID is the fastest-growing category over the forecast period due to growing adoption in indoor applications.

Figure 1: Smart Lighting Market, by Light Source, 2021 & 2030 (USD Million)Smart Lighting Market, by Light Source, 2021 & 2030
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Smart Lighting Communication Technology Insights

Based on communication technology, the global smart lighting industry has been segmented into wired and wireless. Wireless held the largest segment share in 2021. Wireless connectivity in a smart lighting environment is hugely preferred among consumers that require connections within a small range. However, wired is the fastest-growing category over the forecast period due to the growing adoption of smart lighting in commercial and industrial spaces is driving the market for wired connectivity in the smart lighting space.

Smart Lighting Regional Insights

By Region, the study provides market insights into North America, Europe, Asia-Pacific and Rest of the World. Europe smart lighting market accounted for USD 4.04 billion in 2021 and is expected to exhibit a significant CAGR growth during the study period. This market's expansion in this region can be linked to the IT industry's booming construction sector, which is benefiting from increased investments and fresh infrastructure development initiatives. Further, the Germany smart lighting market held the largest market share, and the UK smart lighting market was the fastest-growing market in the European region.

Further, the major countries studied in the market report are: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3: Smart Lighting Market SHARE BY REGION 2021 (%)Smart Lighting Market SHARE BY REGION 2021
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

North America smart lighting market accounts for the second-largest market share due to consumers' growing acceptance of smart lighting and the energy-efficient solution to the lighting problem in the region. Further, the Germany smart lighting market held the largest market share, and the UK smart lighting market was the fastest-growing market in the North America region.

The Asia-Pacific smart lighting market is expected to grow at the fastest CAGR from 2022 to 2030. This is due to the increasing commercial building construction for office, retail, and entertainment is creating an opportunity for fresh demand for smart lighting. Moreover, China smart lighting market held the largest market share, and the India smart lighting market was the fastest-growing market in the Asia-Pacific region.

Smart Lighting Key Market Players & Competitive Insights

Major market players are spending a lot of money on R&D to increase their product lines, which will help the smart lighting market grow even more. Market participants are also taking a range of strategic initiatives to grow their footprint globally, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the smart lighting industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

One of the primary business strategies adopted by manufacturers in the global smart lighting industry to benefit clients and expand the market sector is to manufacture locally to reduce operating costs. The smart lighting market's major players, such as Koninklijke Philips (Netherlands), Osram Gmbh (Germany), Lutron Electronics Co. Inc. (US), and others, are working to expand the market demand by investing in research and development activities.

Leviton Manufacturing Company, Inc. is an American manufacturer of electrical wiring equipment in North America. It produces receptacles and outlets, electrical light sockets, switches, dimmers and other lighting control systems, wire, power cables, power cords, wall and ceiling occupancy sensors, wall plates, datacom, and other electrical products. In May 2022, Leviton announced the extension of its Decora Smart product range, which now includes a comprehensive range of Wi-Fi lighting systems with an option for every room and house. The newest devices expand Leviton customers' intelligent lighting control options, including an innovative No-Neutral Transition and Dimmer for those residing in older residences, in addition to two new 2nd Gen gadgets that are consistent with Hey Google, Amazon Alexa, and HomeKit/Siri to discuss and assistance user voice - activated preferences.

Also, The Zumtobel Group is an Austrian company specializing in lighting headquartered in Dornbirn. Zumtobel engages in the production, development and sales of lighting, luminaires, lighting management and lighting components for indoor and outdoor applications. The company is a European market leader for professional lighting systems and the number two for lighting components in Europe. In March 2022, Zumtobel Group AG participated in the Data Centre World 2022 exhibition in the UK. The company presented its outdoor lighting solutions for data centers and upcoming innovations in intelligent lighting, thus contributing to the industry demand.

Key Companies in the Smart Lighting market include

  • Koninklijke Philips (Netherlands)

  • Osram Gmbh (Germany)

  • Lutron Electronics Co. Inc. (US)

  • Legrand S.A. (France)

  • Daintree Networks (US)

  • Bridgelux (US)

  • Echelon Corporation (US)

  • Streetlight vision (France)

  • Zumtobel (Austria)

  • Honeywell (US)

  • Acuity Brands Inc. (US)

  • General Electric Company (US)

  • Eaton Corporation (Ireland), among others

Smart Lighting Industry Developments

February 2024: New Delhi is the location where the Philips Smart Light Hub (SLH) was introduced, according to the announcement made by Signify, which is the global leader in lighting (Euronext: LIGHT). Customers are provided with a comprehensive shopping experience at this establishment, which was created on the basis of the notion of an experience center concept.

A comprehensive destination for all of the lighting requirements, the Philips Smart Light Hub is a space that spans over two thousand square feet and has a broad selection of over three hundred stock-keeping units (SKUs). Customers will be able to explore and experience the most recent advancements in smart lighting technology firsthand thanks to the store's architecture, which has been designed to deliver an atmosphere that is both immersive and engaging.

"The inauguration of North India's Biggest Philips Smart Light Hub marks a significant milestone for Signify and underscores our commitment to innovation and customer satisfaction," said Raja Moudgil, Business Head India - Smart Homes, and Switches Signify. "The hub is the largest Philips smart light hub in North India." "We are overjoyed to bring this one-of-a-kind shopping experience to Delhi, which will give our customers access to a wide variety of Philips decorative home lighting products in the region," said the company.

As of right now, Signify has more than ninety Philips Smart light hubs located across the northern region of India, with seventeen of those hubs located in New Delhi. Customers who are looking for superior lighting solutions will find the store's location easily accessible and convenient since it is situated in the center of Malviya Nagar, which is located in South Delhi. It is anticipated that the Philips Smart Light Hub will become the destination of choice for homeowners, interior designers, architects, and lighting lovers alike as a result of its strategic positioning.

July 2022:
Signify, the global pioneer in lighting, unveiled a new line of intelligent WiZ lighting solutions to provide smart lighting aficionados with better comfort and efficiency daily. WiZ smart lighting has expanded its established line with various tables and lighting fixtures, a compact light switch, and additional roof lights and lamps, allowing consumers a broad range of alternatives to make their house all interconnected with lighting systems.

Smart Lighting Market Segmentation:

Smart Lighting Component Outlook

  • Software

  • Service

Smart Lighting Product Type Outlook

  • Luminaries

  • Lighting Controls

Smart Lighting Light Source Outlook

  • LED

  • FL

  • HID

Smart Lighting Communication Technology Outlook

  • Wired

  • Wireless

Smart Lighting Regional Outlook

  • 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 2021 USD 9.2 billion
Market Size 2022 USD 11.05 billion
Market Size 2030 USD 40ย billion
Compound Annual Growth Rate (CAGR) 20.1% (2022-2030)
Base Year 2021
Market Forecast Period 2022-2030
Historical Data 2018 & 2020
Market Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Component, Product Type, Light Source, Communication Technology, and Region
Geographies Covered North America, Europe, Asia Pacific, and Rest of the World
Countries Covered The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled Philips Lighting Holding BV (The Netherlands), Acuity Brands Lighting, Inc. (US), General Electric Company (US), Osram Licht AG (Germany), Honeywell International Inc. (US), Legrand S.A. (France), Schneider Electric SE (France)
Key Market Opportunities Technical advancements and increasing investments in infrastructure modernization projects.
Key Market Dynamics Development of human-centric lighting solutions Increasing demand for smart lighting solutions.

Frequently Asked Questions (FAQ) :

The Smart Lighting Market size was valued at USD 9.2 Billion in 2021.

The global market is projected to grow at a CAGR of 20.1% during the forecast period, 2022-2030.

Europe had the largest share of the global market.

The key players in the market are Medtronic Inc (Ireland), Abbott Laboratories (US), Stryker Corporation (US), DePuy Synthes (US), and B. Braun Melsungen AG (Germany).

The software category dominated the market in 2021.

The luminaries had the largest share of the global market.

The LED category dominated the market in 2021.

Wireless had the largest share of the global market.

Leading companies partner with us for data-driven Insights
client_1 client_2 client_3 client_4 client_5 client_6 client_7 client_8 client_9 client_10
Kindly complete the form below to receive a free sample of this Report
Please fill in Business Email for Quick Response

We do not share your information with anyone. However, we may send you emails based on your report interest from time to time. You may contact us at any time to opt-out.

Purchase Option
Single User $ 4,950
Multiuser License $ 5,950
Enterprise User $ 7,250
Compare Licenses
Tailored for You
  • Dedicated Research on any specifics segment or region.
  • Focused Research on specific players in the market.
  • Custom Report based only on your requirements.
  • Flexibility to add or subtract any chapter in the study.
  • Historic data from 2014 and forecasts outlook till 2040.
  • Flexibility of providing data/insights in formats (PDF, PPT, Excel).
  • Provide cross segmentation in applicable scenario/markets.