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Smart Lighting Market

Global Smart Lighting Market Analysis, Share, Forecast: By Offering: Hardware, Software, Services; By Communication Technology: Wired, Wireless; By Installation Type: New Installation, Retrofit Installation; By Light Source: LED Lamps, Fluorescent Lamps, Others; By Application; Regional Analysis; Competitive Landscape; 2024-2032

Global Smart Lighting Market Outlook

The global smart lighting market size reached a value of USD 16.25 billion in 2023. The market is further expected to grow at a CAGR of 20% to reach a value of approximately USD 83.81 billion by 2032.     

 

Global Smart Lighting

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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.

 

Properties and Applications

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.

 

Global Smart Lighting Market By Application

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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

The regional markets for smart lighting include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Global Smart Lighting By Region

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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.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
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
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*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.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Smart Lighting Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Smart Lighting Historical Market (2018-2023) 
    8.3    Global Smart Lighting Market Forecast (2024-2032)
    8.4    Global Smart Lighting Market by Offering
        8.4.1    Hardware
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
            8.4.1.3    Breakup by Type
                8.4.1.3.1    Lights and Luminaires
                    8.4.1.3.1.1    Historical Trend (2018-2023)
                    8.4.1.3.1.2    Forecast Trend (2024-2032)
                8.4.1.3.2    Lighting Controls
                    8.4.1.3.2.1    Historical Trend (2018-2023)
                    8.4.1.3.2.2    Forecast Trend (2024-2032)
        8.4.2    Software
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
        8.4.3    Services  
            8.4.3.1    Historical Trend (2018-2023)
            8.4.3.2    Forecast Trend (2024-2032)
            8.4.3.3    Breakup by Type
                8.4.3.3.1    Design and Engineering
                    8.4.3.3.1.1    Historical Trend (2018-2023)
                    8.4.3.3.1.2    Forecast Trend (2024-2032)
                8.4.3.3.2    Installation
                    8.4.3.3.2.1    Historical Trend (2018-2023)
                    8.4.3.3.2.2    Forecast Trend (2024-2032)
                8.4.3.3.3    Post-Installation
                    8.4.3.3.3.1    Historical Trend (2018-2023)
                    8.4.3.3.3.2    Forecast Trend (2024-2032)
    8.5    Global Smart Lighting Market by Communication Technology
        8.5.1    Wired
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Wireless
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
    8.6    Global Smart Lighting Market by Installation Type
        8.6.1    New Installation
            8.6.1.1    Historical Trend (2018-2023)
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Retrofit Installation
            8.6.2.1    Historical Trend (2018-2023)
            8.6.2.2    Forecast Trend (2024-2032)
    8.7    Global Smart Lighting Market by Light Source
        8.7.1    LED Lamps
            8.7.1.1    Historical Trend (2018-2023)
            8.7.1.2    Forecast Trend (2024-2032)
        8.7.2    Fluorescent Lamps 
            8.7.2.1    Historical Trend (2018-2023)
            8.7.2.2    Forecast Trend (2024-2032)
        8.7.3    Compact Fluorescent Lamps
            8.7.3.1    Historical Trend (2018-2023)
            8.7.3.2    Forecast Trend (2024-2032)
        8.7.4    High Intensity Discharge Lamps
            8.7.4.1    Historical Trend (2018-2023)
            8.7.4.2    Forecast Trend (2024-2032)
        8.7.5    Others
    8.8    Global Smart Lighting Market by Application
        8.8.1    Commercial
            8.8.1.1    Historical Trend (2018-2023)
            8.8.1.2    Forecast Trend (2024-2032)
        8.8.2    Residential
            8.8.2.1    Historical Trend (2018-2023)
            8.8.2.2    Forecast Trend (2024-2032)
        8.8.3    Public Infrastructure
            8.8.3.1    Historical Trend (2018-2023)
            8.8.3.2    Forecast Trend (2024-2032)
        8.8.4    Others 
    8.9    Global Smart Lighting Market by Region
        8.9.1    North America
            8.9.1.1    Historical Trend (2018-2023)
            8.9.1.2    Forecast Trend (2024-2032)
        8.9.2    Europe
            8.9.2.1    Historical Trend (2018-2023)
            8.9.2.2    Forecast Trend (2024-2032)
        8.9.3    Asia Pacific
            8.9.3.1    Historical Trend (2018-2023)
            8.9.3.2    Forecast Trend (2024-2032)
        8.9.4    Latin America
            8.9.4.1    Historical Trend (2018-2023)
            8.9.4.2    Forecast Trend (2024-2032)
        8.9.5    Middle East and Africa
            8.9.5.1    Historical Trend (2018-2023)
            8.9.5.2    Forecast Trend (2024-2032)
9    North America Smart Lighting Market Analysis
    9.1    United States of America
        9.1.1    Historical Trend (2018-2023)
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023)
        9.2.2    Forecast Trend (2024-2032)
10    Europe Smart Lighting Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023)
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023)
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023)
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023)
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Smart Lighting Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023)
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023)
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023)
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023)
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023)
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Smart Lighting Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023)
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023)
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023)
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13     Middle East and Africa Smart Lighting Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023)
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023)
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023)
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023)
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Competitive Landscape

    16.1    Market Structure
    16.2    Company Profiles
        16.2.1    Signify S.A.
            16.2.1.1    Company Overview
            16.2.1.2    Product Portfolio
            16.2.1.3    Demographic Reach and Achievements
            16.2.1.4    Certifications
        16.2.2    Acuity Brands Lighting, Inc
            16.2.2.1    Company Overview
            16.2.2.2    Product Portfolio
            16.2.2.3    Demographic Reach and Achievements
            16.2.2.4    Certifications
        16.2.3    Honeywell
            16.2.3.1    Company Overview
            16.2.3.2    Product Portfolio
            16.2.3.3    Demographic Reach and Achievements
            16.2.3.4    Certifications
        16.2.4    Legrand S.A.
            16.2.4.1    Company Overview
            16.2.4.2    Product Portfolio
            16.2.4.3    Demographic Reach and Achievements
            16.2.4.4    Certifications
        16.2.5    OSRAM GmbH
            16.2.5.1    Company Overview
            16.2.5.2    Product Portfolio
            16.2.5.3    Demographic Reach and Achievements
            16.2.5.4    Certifications
        16.2.6    Cree Lighting
            16.2.6.1    Company Overview
            16.2.6.2    Product Portfolio
            16.2.6.3    Demographic Reach and Achievements
            16.2.6.4    Certifications
        16.2.7    General Electric Company
            16.2.7.1    Company Overview
            16.2.7.2    Product Portfolio
            16.2.7.3    Demographic Reach and Achievements
            16.2.7.4    Certifications
        16.2.8    Others
17    Key Trends and Developments in the Market

 

List of Key Figures and Tables

1.    Global Smart Lighting Market: Key Industry Highlights, 2018 and 2032
2.    Global Smart Lighting Historical Market: Breakup by Offering (USD Billion), 2018-2023
3.    Global Smart Lighting Market Forecast: Breakup by Offering (USD Billion), 2024-2032
4.    Global Smart Lighting Historical Market: Breakup by Communication Technology (USD Billion), 2018-2023
5.    Global Smart Lighting Market Forecast: Breakup by Communication Technology (USD Billion), 2024-2032
6.    Global Smart Lighting Historical Market: Breakup by Installation Type (USD Billion), 2018-2023
7.    Global Smart Lighting Market Forecast: Breakup by Installation Type (USD Billion), 2024-2032
8.    Global Smart Lighting Historical Market: Breakup by Light Source (USD Billion), 2018-2023
9.    Global Smart Lighting Market Forecast: Breakup by Light Source (USD Billion), 2024-2032
10.    Global Smart Lighting Historical Market: Breakup by Application (USD Billion), 2018-2023
11.    Global Smart Lighting Market Forecast: Breakup by Application (USD Billion), 2024-2032
12.    Global Smart Lighting Historical Market: Breakup by Region (USD Billion), 2018-2023
13.    Global Smart Lighting Market Forecast: Breakup by Region (USD Billion), 2024-2032
14.    North America Smart Lighting Historical Market: Breakup by Country (USD Billion), 2018-2023
15.    North America Smart Lighting Market Forecast: Breakup by Country (USD Billion), 2024-2032
16.    Europe Smart Lighting Historical Market: Breakup by Country (USD Billion), 2018-2023
17.    Europe Smart Lighting Market Forecast: Breakup by Country (USD Billion), 2024-2032
18.    Asia Pacific Smart Lighting Historical Market: Breakup by Country (USD Billion), 2018-2023
19.    Asia Pacific Smart Lighting Market Forecast: Breakup by Country (USD Billion), 2024-2032
20.    Latin America Smart Lighting Historical Market: Breakup by Country (USD Billion), 2018-2023
21.    Latin America Smart Lighting Market Forecast: Breakup by Country (USD Billion), 2024-2032Mi
22.    Middle East and Africa Smart Lighting Historical Market: Breakup by Country (USD Billion), 2018-2023
23.    Middle East and Africa Smart Lighting Market Forecast: Breakup by Country (USD Billion), 2024-2032
24.    Global Smart Lighting Market Structure

Key Questions Answered in the Report

In 2023, the global smart lighting market attained a value of USD 16.25 billion.

In the forecast period of 2024-2032, the market is projected to grow at a CAGR of 20%.

By 2028, the market is estimated to reach a value of about USD 83.81 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.

Analyst Review

The global smart lighting market attained a value of USD 16.25 billion in 2023 driven by the rising modernisation of infrastructure. Aided by the reducing costs of LED and smart lighting systems, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 20%. The market is projected to reach USD 83.81 billion by 2032.           

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on offering, the market can be segmented into hardware, software, and services. On the basis of communication technology, the market can be bifurcated into wired technology and wireless technology. By installation type, the industry can be categorised into new and retrofit installations. LED lamps, fluorescent lamps, compact fluorescent lamps, and high intensity discharge lamps, among others, are the major light sources in the market. Based on application segments, the market is divided into commercial, residential, and public infrastructure, among others. The major regional markets for smart lighting are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa, with the Asia Pacific accounting for the largest share of the market. The key players in the above market include Signify S.A., Acuity Brands Lighting, Inc, Honeywell, Legrand S.A., OSRAM GmbH, Cree Lighting, General Electric Company, and others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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