Smart Lighting Market to Reach US$ 23.6 Billion by 2024 - IMARC Group

1. Global Smart Lighting Market Research Report and Forecast 2024 Report Edition: 2019 Copyright © IMARC Service Pvt Ltd. All Rights Reserved © 2019 IMARC All Rights Reserved

2. Report DescriptionAbout IMARC Group The International Market Analysis Research and Consulting Group is a leading adviser on management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value challenges, and transform their businesses. opportunities, address their most critical IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, chemicals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise. IMARC’s tailored approach combines unfathomable insight into the dynamics of companies and markets with close cooperation at all levels of the client organization. This ensures that our clients achieve unmatchable competitive advantage, build more proficient organizations, and secure lasting results.

3. Report Description and Highlights Report Description Global Smart Lighting Market Overview: According to the latest report by IMARC Group, titled “Smart Lighting Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global smart lighting market size reached US$ 7.9 Billion in 2018. Smart lighting is an energy efficient lighting solution with power saving features and automated controls for smooth operations. This technology enables the user to change the light intensity depending on parameters such as occupancy of daylight availability. It is rapidly replacing traditional lighting solutions as it economical, sustainable and draws lesser power. It is also accessible through smartphone applications which makes it easy to control. Moreover, this lighting system has enabled real-time illumination monitoring, intelligent sensing and improvement in connected lighting technology. The evolution of big data and the internet of things (IoT) has further improved the integration of smart lighting with other automated system used in smart homes. Smart Lighting Market Trends In recent years, smart lighting has gained popularity across the globe as it helps in minimizing energy wastage. In line with this, various governments around the world are taking initiatives for developing smart cities which have significantly contributed to the demand for these systems.

4. Report Description and Highlights Report Description 186.5 181.2 120.2125.5130.8136.1141.4146.7152.0157.3 175.9 170.6 160 180 165.3 160.0 160 140 140 120 In Billion US$ in Billion US$ 120 100 100 80 80 60 60 40 40 20 20 0 0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 In addition to this, Osram has introduced SymphoCity as an intelligent connected lighting management system which can manage and monitor city-wide lighting infrastructure from one central platform to establish a more connected and secure environment. Looking forward, the market value is projected to reach US$ 23.6 Billion by 2024, expanding at a CAGR of 20% during 2019-2024. Request for a free sample report: https://www.imarcgroup.com/smart-lighting-market/requestsample

5. Report Description and Highlights Report Description For instance, under the Chicago Smart Lighting Program, the US Government has replaced over 270,000 outdated high-pressure sodium (HPS) light fixtures with new energy-efficient LED lights to reduce energy costs, improve the environment and ensure safety. Aside from offering various environmental and cost-saving advantages, these systems are also creating a positive impact on society. For example, the installation of smart streetlights in Los Angeles has helped in reducing crimes related to burglary, vandalism and vehicle theft. Key Market Segmentation: Market Segmentation by Offering • • • Hardware Software Services Based on the offering, the market has been segmented into hardware, software and services. Hardware currently dominates the market, holding the largest market share. For more information, click here: https://www.imarcgroup.com/smart-lighting-market

6. Report Description and Highlights Report Description Market Segmentation by Communication Technology • • Wired Technology Wireless Technology On the basis of the communication technology, wired technology represents the leading segment, followed by wireless technology. Market Segmentation by Installation Type • • New Installation Retrofit Installation The market has also been categorized based on the installation type into new installation and retrofit installation. Amongst these, new installations dominate the market, accounting for the majority of the overall market share. Market Segmentation by Light Source

7. Report Description and Highlights Report Description • • • • • LED Lamps Fluorescent Lamps Compact Fluorescent Lamps High Intensity Discharge Lamps Others Based on the light source, the market has been segregated as LED Lamps, fluorescent lamps, compact fluorescent lamps and high-intensity discharge lamps. LED lamps are the most popular segment. Market Segmentation by Application • • • • Commercial Residential Public Infrastructure Others Based on the application, the commercial sector represents the largest application segment, holding a significant market share. Other major application areas include the residential sector & public infrastructure.

8. Report Description and Highlights Report Description Market Segmentation by Region • • • • • Asia Pacific Europe North America Middle East and Africa Latin America Region-wise, Europe enjoys the leading position in the market. The other major regions include North America, Asia Pacific, Middle East and Africa, and Latin America. Competitive Landscape: The competitive landscape of the market has also been examined with some of the key players. • • • • Philips Lighting Acuity Brands Osram Cree

9. Report Description and Highlights Report Description • • • • • • • • • • • • General Electric Company Eaton Honeywell Legrand Hubbell Lighting Zumtobel Group Hafele Group Lutron Electronics Wipro Consumer Care and Lighting Streetlight.Vision Virtual Extension Syska LED Browse Related Report LED Blub Market Report: https://www.imarcgroup.com/led-bulb-manufacturing-plant LED Lighting Market Report: https://www.imarcgroup.com/led-manufacturing-plant

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12. Report Description and Highlights Report Description © 2019 IMARC All Rights Reserved This Publication and all it’s contents unless otherwise mentioned are copyrighted in the name of International Market Analysis Research and Consulting (IMARC). No part of this publication may be reproduced, repackaged, redistributed or resold in whole or in any part. The publication may also not be used in any form or by and means graphic electronic or mechanical, including photocopying, recording, taping or by information storage or retrieval, or by any other form, without the express consent of International Market Analysis Research and Consulting (IMARC). Disclaimer: All contents and data of this publication, including forecasts, data analysis and opinion have been based on information and sources believed to be accurate and reliable at the time of publishing. International Market Analysis Research and Consulting makes no representation of warranty of any kind as to the accuracy or completeness of any Information provided. IMARC accepts no liability whatsoever for any loss or damage resulting from opinion, errors or inaccuracies if any found this publication. IMARC, IMARC Group and Global Therapy Insight Series are registered trademarks of International Market Analysis Research and Consulting. All other trademarks used in this publication are registered trademarks of their respective companies.

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