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Report Overview

The global smart lighting market size reached a value of USD 16.25 Billion in 2024. The market is further expected to grow at a CAGR of 20.00% to reach a value of approximately USD 100.62 Billion by 2034.

2024

Base Year

2018-2024

Historical Year

2025-2034

Forecast Year

Compound Annual Growth Rate

Value in USD Billion

20%

2025-2034


Smart Lighting Market Outlook

*this image is indicative*

Global Smart Lighting Market Report Summary Description Value
Base Year USD Billion 2024
Historical Period USD Billion 2018-2024
Forecast Period USD Billion 2025-2034
Market Size 2024 USD Billion 16.25
Market Size 2034 USD Billion 100.62
CAGR 2018-2024 Percentage XX%
CAGR 2025-2034 Percentage 20.00%
CAGR 2025-2034 - Market by Region Asia Pacific 23.1%
CAGR 2025-2034 - Market by Country India 26.5%
CAGR 2025-2034 - Market by Country China 22.1%
CAGR 2025-2034 - Market by Offering Hardware 22.4%
CAGR 2025-2034 - Market by Light Source LED Lamps 22.6%
Market Share by Country 2024 UK 3.3%

The Asia Pacific region has witnessed a significant growth in the smart lighting market in the recent years and is likely to have the fastest growth over the forecast period. Developing and improving smart infrastructure throughout the region, scaling up the smart lighting system across the private and commercial sectors, and the growing government spending in public infrastructure are rising the demand growth in the region.

Market Segmentation

Smart lighting refers to an energy-efficient lighting system with power-saving features and automatic controls for smooth operation. This device allows the consumer to adjust the light intensity according to factors like occupancy or availability of daylight. Conventional lighting solutions are easily replaced because they are inexpensive, efficient, and have less power. This is also available via mobile applications that make this easy to monitor. In addition, this lighting system has allowed the monitoring of real-time illumination, intelligent sensing, and development of connected lighting technology. The evolution of Big Data and the Internet of Things (IoT) further strengthened the convergence of smart lighting with other automated devices used in smart homes.

On the basis of offering, the smart lighting market can be divided into:

  • Hardware
  • Software
  • Services

Hardware can be divided into lights and luminaires and lighting controls. Services can be segmented into design and engineering, installation, and post-installation.

Based on communication technology, the industry can be divided into:

  • Wired Technology 
  • Wireless Technology

On the basis of installation type, the industry is divided into:

  • New Installation  
  • Retrofit Installation

Based on the light source, the industry can be divided into the following:

  • LED Lamps
  • Fluorescent Lamps
  • Compact Fluorescent Lamps
  • High Intensity Discharge Lamps
  • Others

It finds application in the following sectors:

  • Commercial
  • Residential
  • Public Infrastructure
  • Others

Based on the region, the industry can be divided into the following:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Global Smart Lighting Market By Application

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CAGR 2025-2034 - Market by Country
India 26.5%
China 22.1%
UK 18.3%
USA 17.8%
Germany 16.5%
Canada XX%
France XX%
Italy XX%
Japan 13.8%
Australia XX%
Saudi Arabia XX%
Brazil XX%
Mexico XX%

Market Analysis

The development of the global smart lighting market is mainly driven by the high demand for energy-efficient lighting systems, which provide better lighting while consuming less power. In addition, factors like the modernisation and improvement of infrastructure have enabled the transformation of cities into smart cities that have driven the growth of the smart lighting market. Individuals living in urban industries tend to invest in modular and smart lighting systems instead of purchasing high-energy lights. In addition, the increasing demand for lighting systems equipped with wireless and sensor technology has further favoured the growth of the sector. International proposals for pooling lighting networks with low power consuming sensors and reducing the costs of previously costly LEDs have also contributed to the industry growth. In addition, smart lights have now become affordable to the general public as a result of dropping costs.

Competitive Landscape

The report gives a detailed analysis of the following key players in the global smart lighting market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • Signify S.A.
  • Acuity Brands Lighting, Inc
  • Honeywell
  • Legrand S.A.
  • OSRAM GmbH
  • Cree Lighting
  • General Electric Company
  • Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Key Questions Answered in the Report

In 2024, the global smart lighting market attained a value of USD 16.25 Billion.

In the forecast period of 2025-2034, the market is projected to grow at a CAGR of 20.00%.

By 2034, the market is estimated to reach a value of about USD 100.62 Billion.

The major drivers of the market include the increasing modernisation of infrastructure, reducing costs of LED, the growing preference for smart and modular lighting systems.

Technological advancements and innovations and the surging adoption of Internet of Things (IoT) are the major trends guiding the market growth.

The major regions in the market are North America, the Asia Pacific, Europe, Latin America, and the Middle East and Africa.

The leading offerings of smart lighting in the market are hardware, software, and services.

The significant communication technologies in the market include wired and wireless.

New installation and retrofit installation are the major installation types of smart lighting considered in the market report.

LED lamps, fluorescent lamps, compact fluorescent lamps, and high intensity discharge lamps, among others, are the leading light sources in the market.

The significant applications of smart lighting are commercial, residential, and public infrastructure, among others.

The leading players in the market are Signify S.A., Acuity Brands Lighting, Inc, Honeywell, Legrand S.A., OSRAM GmbH, Cree Lighting, and General Electric Company, among others.

Report Summary

Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.

Key Highlights of the Report

Please note that the figures mentioned in the description serve as estimates and may vary from the actual figures presented in the final report.

REPORT FEATURES DETAILS
Base Year 2024
Historical Period 2018-2024
Forecast Period 2025-2034
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Offering
  • Communication Technology
  • Installation Type
  • Light Source
  • Application
  • Region
Breakup by Offering
  • Hardware
  • Software
  • Services
Breakup by Communication Technology
  • Wired
  • Wireless
Breakup by Installation Type
  • New Installation
  • Retrofit Installation
Breakup by Light Source
  • LED Lamps
  • Fluorescent Lamps
  • Compact Fluorescent Lamps
  • High Intensity Discharge Lamps
  • Others
Breakup by Application
  • Commercial
  • Residential
  • Public Infrastructure
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Signify S.A.
  • Acuity Brands Lighting, Inc
  • Honeywell
  • Legrand S.A.
  • OSRAM GmbH
  • Cree Lighting
  • General Electric Company
  • Others
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