Smart Lighting Market was worth 10.1 billion in 2020, and forecast to touch USD 42.1 Billion in 2028, growing at a significant higher CAGR of 19.5% from 2020-2028, due to the growing demand for smart lighting to improve the building appearance.

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The major factors contributing to the growing demand of the global smart lighting market include the emergence of integrated lighting systems and the increasing smart city projects in developing economies across the globe. Various governments are mainly focusing on developing sustainable smart cities that uses information and communication technologies (ICTs) and other means to improve quality of life, the efficiency of urban operation and services while meeting the needs of present and future generations in relation to economic, social and environmental aspects. For instance, Dubai’s government has launched the “Dubai Plan 2021” which aims to transform the city into a leading smart city.

The growing demand for smart lighting has encouraged leading players to invest in their Research & Development activities and new product innovations, which will offer enormous opportunities to the market. Leading companies, like Signify N.V., Osman Licht AG, and Zumtobel Group AG, have introduced new Wi-Fi integrated lightings to stay competitive in the market, thus expanding the market growth. Additionally, the ongoing infrastructural development has encouraged the transmission of cities into smart-cities, which has paved the way for market. Individuals across the urban areas are inclined towards modular and intelligent lighting solutions rather than high-energy consuming lights. Moreover, the growing demand for lighting systems incorporated with wireless and sensor technology will further boost the market growth.

The rising awareness about the benefits of LEDs along with the declining price of LEDs will have a positive impact on the growth of the smart lighting market over the coming years. The LED lights offer several advantages such as it is energy-efficient, have a longer lifespan, and works in extreme temperatures. With the integration of lighting systems with smartphones and the development of the numerous smart home systems such as Amazon Alexa, Google Assistant, and Samsung SmartThings Hub, will attract a large number of customers towards smart lighting systems all over the world.

However, factors hampering the smart lighting market growth includes the huge initial cost and lack of skilled technicians. The emergence of the coronavirus crisis is adversely impacting the global smart lighting market around the globe. The strict lockdown has affected the raw material supplies of electronic components due to the temporary shutdown of manufacturing plants in China. The rapid disruption in the supply chain is resulting in a sharp fall in the demand for the smart lighting systems. However, the market is expected to bounce back in 2021 while growing at a significant rate from 2022 onwards.

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Installation Segment Analysis

Based on installation, the global smart lighting market is segmented into New Installation and Retrofit Installation. The New Installation segment is projected to dominate the market during the forecast period owing to the rising demand for smart lighting system across various places such as homes, corporate offices, parking spaces, and shopping malls. Moreover, with the evolution of wireless technologies and the continuous development in electronics and sensor technology, it has become necessary for the customers to opt for smart lighting systems. Thus, all these factors are responsible for driving the growth of the segment in the coming years.

Offering Segment Analysis

Based on offering, the global smart lighting market is segmented into Hardware, Software, and Services. The hardware segment is estimated to grow at a higher CAGR during the forecast period due to the continuous product innovation in the lighting controls, including lamps and luminaries. The integration of lighting control products with lights & luminaries has enabled the embedding of software on microcontrollers, thereby adding as a competitive advantage to the lighting control system. These systems offer sensors controlling option, which will further drive the demand of the market over the coming years.

The software segment is estimated to hold the highest share during the forecast period, due to the emerging need for software to simplify the light control using tablets or smartphones. Increasing adoption of smart lighting for data-driven causes in critical areas will further add to the market growth.

End-Use Application Segment Analysis

Based on the end-use application, the global smart lighting market is segmented into indoor and outdoor. The outdoor segment is expected to grow at a higher CAGR during the forecast period due to the increasing usage of smart lighting systems on roads, highways, traffic lights, and other public places such as parking areas. The smart road lighting system improves visibility on the roads, thereby increasing the safety level on the roads. Several countries, such as Norway, are using the smart road lighting system to address the problem of useless illumination of densely or rarely traveled roads while saving the energy.

Communication Technology Segment Analysis

Based on the Communication Technology, the Power over Ethernet (PoE) wired communication technology segment is projected to grow at a higher CAGR during the forecast period owing to the decline in the price of LEDs and the growing awareness about the benefits of LEDs among the end-users. In addition to this, the growing adoption of PoE solutions across various industries, such as commercial and healthcare will surge the growth of the smart lighting market. The key market players are focusing on developing more efficient and power-saving lighting products, which will create new opportunities in the smart lighting market.

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Regional Analysis

Based on the region, the Asia-Pacific region is anticipated to dominate the market during the forecast period owing to the growing emphasis on the minimization of the energy consumption by using smart lighting system in various developing nations such as India, China, and Japan. The government initiatives to offer LED lights at a subsidized price along with its remarkable benefits such as environment-friendly, less power consumption, and contains no harmful substances, will drive the growth of the Global Smart Lighting market in this region. Moreover, the continuous development of highways and roads with an aim to reduce power consumption will surge the demand for smart street lighting systems. The smart lighting system is cost-effective, provides high visibility, and is controlled by real-time system. With the rapid urbanization and the increasing population of developing economies, it has become necessary to develop smart cities in order to optimize the usage of space and resources. Many countries such as Japan, South Korea, Singapore, and Vietnam are focusing on the development of smarter cities by emphasizing on smart home technology, smart roader, and digitalization. All these factors will complement the growing demand of the market in this region.

Europe smart lighting market size is expected to witness a higher CAGR over the upcoming years, due to the presence of leading players, such as Signifiy N.V., Osram Licht AG, Acuity Brands Lighting Inc. & Zumtobel Group AG, and strategic initiatives to expand the smart lighting sales. For instance, 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.

Various notable players operating in the market include 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., and Hubbell.

Key Developments:

• • In 2020, Legrand announced the expansion of its Netatmo Smart home technology with two new additions of smart lighting controls in the U.S. The basic aim of the new smart switches is to reduce the power consumption, remote surveillance, and provide control functions such as controls of lights and electrical appliances.
  • In 2020, OSRAM GmbH entered into a partnership with Casambi, the market leader in wireless lighting control and networks. By the expansion of the partnership, OSRAM GmbH will be able to utilize the wireless lighting control solution of Casambi, thereby providing exceptional user experience, high performance, and scalability.
  • In 2020, Leviton Manufacturing Co., launches a New Decora Smart Voice Dimmer with Amazon Alexa Built-in which provides smart lighting and a voice assistant in a single device. It offers best-in-class lighting control performance along with customizes settings.

The global smart lighting market has been segmented based on Installation Type, Offering, End-Use Application, Communication Technology, and regions. Based on Installation, the market is segmented into New Installations and Retrofit Installations. Based on Offering, the market is segmented into Hardware, Software and Services. Based on End-Use Application, the market is segmented into Indoor and outdoor. Based on the Communication Technology, the market is segmented into Wired technology and wireless technology.

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Key questions answered in this research report:

• • At what pace is the global Smart Lighting market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in the global Smart Lighting market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Smart Lighting market?
  • What are the various end-use application areas of the global Smart Lighting market and how they are poised to grow?
  • Which Installation Type generated maximum revenues in 2020 and identify the most promising Installation Type during the forecast period?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Revenues (2020)	10.1 Billion
Market Base Year	2020
Market Forecast Period	2021-2028
Base Year & Forecast Units	Revenues (USD Billion)
Market Segment	By Installation Type, By Offering, By End-use Application, By Communication Technology, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	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, among others; A total of 11 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

 Global Smart Lighting Market by Installation Type

• • New Installation
  • Retrofit Installation

Global Smart Lighting Market by Offering

• • Hardware
    • Lights & Luminaries
      • Smart Bulbs
      • Fixtures
    • Lighting Controls
      • LED Drivers & Ballasts
      • Sensors
      • Switches
        • Manual On/Off Switches
        • Electronic Switches
      • Dimmers
        • Wired Dimmers
        • Wireless Dimmers
      • Relay Units
      • Gateways
    • Software
      • Local/Web-Based Software
      • Cloud-Based Software
    • Services
      • Pre-installation Services
      • Post-installation Services
    • Hardware
      • Lights & Luminaires
      • Lighting Controls

Global Smart Lighting Market by End-Use Application

• • Indoor
    • Residential
    • Commercial
      • Retail
      • Hospitality
      • Office Lighting
    • Industrial
    • Others
  • Outdoor
    • Highways & Roadways Lighting
    • Architectural Lighting
    • Lighting for Public Places

Global Smart Lighting Market by Communication Technology

• • Wired Technology
    • DALI
    • Power Over Ethernet (PoE)
    • Wired Hybrid Protocols
  • Wireless
    • ZigBEE
    • Wi-Fi
    • BLE
    • EnOcean
    • 6LoWPAN
    • Wireless Hybrid Protocols

Global Smart Lighting Market by Region

• • North America Smart Lighting Market (Option 1: As a part of the free 25% customization)
    • By Installation Type
    • By Offering
    • By End-Use Application
    • By Communication Technology
    • US Market All-Up
    • Canada Market All-Up
  • Europe Smart Lighting Market (Option 2: As a part of the free 25% customization)
    • By Installation Type
    • By Offering
    • By End-Use Application
    • By Communication Technology
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Smart Lighting Market (Option 3: As a part of the free 25% customization)
    • By Installation Type
    • By Offering
    • By End-Use Application
    • By Communication Technology
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Smart Lighting Market (Option 4: As a part of the free 25% customization)
    • By Installation Type
    • By Offering
    • By End-Use Application
    • By Communication Technology
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating the Smart Lighting (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • 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