About this report
In our new research report we deliver value in terms of segmental analysis and forecasts on the global smart lighting market at the regional level as well as from a global perspective. With the help of extensive research, our analysts have studied how different market dynamics are likely to impact the current and future scenario of the global smart lighting market, thus providing useful insights to market players to plan their differentiating strategies capable of evolving with the changing market landscape with a view to achieve competitive advantage in the long run. We have analyzed the key trends, drivers, restraints and opportunities and their magnitudes across various regions in the globe while studying this market. Impact analysis of key growth drivers and restraints based on the weighted average model are included in the report to better equip and arm clients with the necessary acumen and insights. This report provides historical data of 2012-2016 along with value and volume forecast projections for the period 2017 - 2025 in terms of revenue (US dollars). It also includes detailed pricing analysis by type along with the smart lighting market value chain analysis.
Competitive assessment and other key focus areas
In order to provide a comprehensive view of the market, we have included detailed competitive analysis and information on key players with unique selling propositions. The dashboard provides a detailed comparison of producers dealing with smart lighting on parameters such as operating margins, unique selling propositions, collective market share, and geographic concentration. The study encompasses market attractiveness analysis of various segments of the global smart lighting market.
The report further indicates segment wise definition of the market along with its overall scenario during the assessment period. The publication focuses on identifying various opportunities in the global market and presents updates and insights associated with the various segments of the global smart lighting market. In depth analysis on average prices in US$/units have been considered for smart lighting to arrive at appropriate market size numbers. Key market splits have been deduced from surveys and primary research. The prices of smart lighting products have been tracked at the wholesaler level across regions.
By Light Source
By Communication Technology
Our research process
A number of primary and secondary sources have been consulted during the course of this study. Secondary sources include company websites, company annual reports, white papers, and financial reports. Further deep diving has been carried out by interviewing various market observers and subject matter experts to get an actual picture of the global smart lighting market. The data accumulated from multiple sources is revalidated using the triangulation method in order to gain more or less 100 percent accuracy to help enhance the credibility of the research. The data is scrutinized using advanced tools to obtain qualitative and quantitative insights about the market.
Following assumptions are used in this report:
Global smart lighting market: Unique strategies and exceptional market analysis
According to the findings presented in this report, companies operating in the global smart lighting market are entering into key business partnerships as these help in increasing business revenue. New innovations in lighting solutions are enabling smart lighting providers to leverage new business opportunities across the globe. North America and Europe were the dominant markets in 2016 in terms of revenue in the smart lighting market, while Asia Pacific is expected to dominate in terms of CAGR during the forecast period. North America is projected to be a key market in the global smart lighting market – the increasing adoption of better lighting infrastructure is a driving factor for the growth of the smart lighting market in this region. Focusing on energy efficient technology is a key factor driving the adoption of smart lighting.
An increasing awareness of better lighting infrastructure to boost the growth of various products available in the global smart lighting market
Government organizations in different countries are taking several steps to develop smart cities and installation of smart lighting is one of the significant programs that is being undertaken. Rapid urbanization, development of smart buildings and government initiatives in smart city projects are some of the top factors driving demand for various smart lighting products such as lighting control, fixture and others. In 2017, the lighting control segment was valued at more than US$ 3,400 Mn, and is expected to witness steady growth in terms of revenue throughout the forecast period.
Increasing application of lighting solutions in the healthcare sector to create a positive impact on the global market for smart lighting
One of the major reasons behind the growth of the global smart lighting market is the increasing application of color changing LED in several sectors such as industrial, healthcare, and commercial. To provide a relaxing environment to the patients while conducting various seminars with the help of soothing light effects, sound and color changing lights, several hospitals across the globe are installing LED lighting solutions. For instance, Hillerod Hospital in Denmark has installed might and sound in the maternity ward to help pregnant women so that they can be more comfortable and relaxed.
In the APAC region, governments in countries like India and China are focusing on the smart city program. In this program old and outdated infrastructure including old incandescent bulbs are replaced with innovative technology such as connected and embedded lighting fixtures. An increase in smart city spending is creating a positive impact on the global market for smart lighting. In April 2017 for instance, the Indian government announced plans to invest in the smart cities initiative. The government has already allocated over US$ 2.3 Bn for this project in the last two budgets.
Leading players located in North America are focusing on acquiring government contracts associated with street lighting, architecture/monument lighting, and other lighting projects. The objective behind obtaining government contracts is to get bulk business. Besides, the success of one project may germinate the high possibility of extracting more lighting contracts from the government. All the aforementioned factors are acting in favor of the global smart lighting market revenue growth.
Tier wise market share structure indicates the prominence of Tier 1 smart lighting vendors, who currently hold about 40% market share
Tier-1 smart lighting vendors currently account for around 40% of the overall market. Tier-1 vendors are the largest and most experienced in the industry, and have a wide range of product portfolios and significant regional coverage across the globe. Some of the vendors in this category include Royal Philips NV, OSRAM Licht AG., Honeywell international, and Schneider Electric SE. Tier-2 & Tier-3 smart lighting vendors currently hold just under 34% and 27% market share respectively.