Smart Lighting Market Top Industry Growth Factors & Segments, 2016-2024

Global Smart Lighting Market: Overview

Smart lighting is a technology developed for energy efficiency solutions. This may consist high efficiency automated controls and fixtures that make amendments on the basis of conditions such as daylight availability or occupancy. Lighting is the premeditated purpose of light to accomplish some practical or visual effect.

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Global Smart Lighting Market: Growth Factors

The global smart lighting market is likely to propel in coming period. The utilization of applications of indoor lighting within the commercial sector is the significant reason that has propelled the growth of the global market. Additionally, low costs for maintenance is one of the significant factors driving the growth of the global smart lighting market. In addition to this, factors such as available daylight, occupancy, and period of the day to turn lights off or on accordingly are also escalating the growth of the global market. Further, noteworthy cost and energy savings is also driving the global smart lighting market growth. Adding more to the list, low consumption of power is powering the growth of the global market. Additionally, rising demand from the industry is one of the main factors driving the growth of the global smart lighting market. Further, steady diminution in the cost of LED components is also driving the global smart lighting market growth.

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Global Smart Lighting Market: Segmentation

On the basis product, the global smart lighting market is mainly classified as fixtures, smart bulbs, lighting control, and others. Based on light sources, the global market is bifurcated into LED light source, fluorescent light source, another light source, HID light source, and others. On the basis technology, the global market for smart lighting is divided into wired and wireless communication technologies. Based on software and services, the global market is bifurcated into lighting as a service and smartphone applications. On the basis applications, the global market for smart lighting is divided into indoor lighting and outdoor lighting. Based on a target audience, the global market is bifurcated into commercial end-users, residential end-users, government bodies, industrial end-users, and others.

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Global Smart Lighting Market: Regional Analysis

Low costs for maintenance has elevated the global market in China. Also, factors such as available daylight, occupancy, and period of the day to turn lights off or on accordingly are escalating the global market in India and Japan. Low consumption of power is boosting the global market in the Germany. Steady diminution in the cost of LED components has elevated the global market in France. Also, f rising demand from the industry is escalating the global market in the Middle East and Africa.

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Global Smart Lighting Market: Competitive Players

Some of the key players in the global market for smart lighting are Acuity Brands Lighting Inc., Philips Lighting, OSRAM Licht AG, General Electric Company, Cooper Industries Inc., Honeywell International, Legrand S.A., Digital Lumens Inc., StreetLight Vision, Lutron Electronics Company Inc., Cree Inc., and Schneider Electric SE.

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