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Global Smart Lighting Growth Opportunities
Innovative Business Models of Connected Lighting Solutions with Open, Interoperable Systems to Drive Future Growth
09-Nov-2021
North America
Market Research
PC1A-01-00-00-00
EN01283-NA-MT_25924
Buildings are shifting from conventional lighting to advanced smart lighting solutions that can help them realize energy efficiency targets, apart from improving occupant experience and comfort within their premises. Lighting companies that hit a plateau with their revenue growth are also focusing on offering digital lighting solutions, such as remote monitoring, workspace management, fault detection and diagnostics, and people monitoring to improve their business.
The global smart lighting market was estimated at $11.62 billion in 2020 and is forecast to record a 17.5% CAGR over the next seven years till 2027. The demand for smart lighting in the residential segment is high with several start-ups and incumbents vying for market share. Apart from the residential segment, healthcare and offices are the major segments that are adopting smart lighting solutions. Leading manufacturers’ focus on megatrends, such as digitization and urbanization, increasing disposable incomes, and climate change will lead to technologically advanced solutions that cater to different customer segments.
The competitive success factors in the market include product quality and cost, and ease of installation and use. Wired lighting solutions will continue to dominate the market in the forecast period, however wireless will grow to 35.8% of the market by 2027. With interoperability between wired and wireless products on the horizon, there will not be major retrofits happening in the future.
Research Highlights
- Current and future market growth rates
- Market segmentation by geography
- Major drivers and trends influencing the market
- Leading market participants and comparative analysis of their solutions
- Current distribution structure and value chain analysis
Companies included in this research service are Signify, GE, Osram, Acuity Brands, Lutron, Helvar, Legrand, Enlighted, Cree, Lifx, Wiz Connected, Control4, Nanoleaf, Sengled, Schreder, Syska, Hubbell, Wipro Lighting, and TP-Link.
Author: Dennis Marcell Victor
Why is it Increasingly Difficult to Grow?
The Strategic Imperative 8™
The Impact of the Top Three Strategic Imperatives on the Smart Lighting Industry
Growth Opportunities Fuel the Growth Pipeline Engine™
Smart Lighting Market—Scope of Analysis
Market Segmentation
Key Competitors
Key Findings
Introduction—Smart Building Ecosystem
Introduction—Smart Building IoT Architecture
Key Growth Metrics
Distribution Channels
Value Chain Assessment
Growth Drivers
Growth Restraints
Forecast Assumptions
Revenue Forecast
Revenue Forecast by Region
Percent Revenue Forecast by Vertical
Percent Revenue Forecast by Communication Protocol
Revenue Forecast Analysis
Revenue Forecast Analysis (continued)
Revenue Forecast Analysis (continued)
Trends in Wireless Lighting Controls
Trends in Wireless Lighting Controls (continued)
Control Mechanism for Smart Lighting
Competitive Environment
Revenue Share and Analysis
Service Propositions by Leading Market Participants
Service Propositions by Leading Market Participants (continued)
Porter’s Five Forces Analysis for Smart Lighting Market
Business Model Trends
Growth Opportunity 1: Intelligent Lighting Solutions for Post-COVID-19 Recovery and Workspace Re-entry
Growth Opportunity 1: Intelligent Lighting Solutions for Post-COVID-19 Recovery and Workspace Re-entry (continued)
Growth Opportunity 2: Development of Internet Connectivity to Accelerate Smart Home Product Adoption
Growth Opportunity 2: Development of Internet Connectivity to Accelerate Smart Home Product Adoption (continued)
Growth Opportunity 3: Focus on Renovation Projects to Capitalize Market Growth
Growth Opportunity 3: Focus on Renovation Projects to Capitalize Market Growth (continued)
Growth Opportunity 4: Partnership with Value Chain Stakeholder for Long-term Win
Growth Opportunity 4: Partnership with Value Chain Stakeholder for Long-term Win (continued)
Growth Opportunity 5: Optimum Utilization of Usage Data for Value-add Services Expansion
Growth Opportunity 5: Optimum Utilization of Usage Data for Value-add Services Expansion (continued)
Case Study 1: Lighting Fixtures for Asset Tracking and Improved Indoor Navigation in a Children’s Hospital in Netherlands
Case Study 2: Smart Sensors for Enhanced Occupant Comfort and Workspace Management in a Co-working Space in Barcelona
Case Study 3: Intelligent Lighting Control Solution for a Hybrid Space and Unique Customer Experience in a Hotel in Finland
Case Study 4: Improved Shopping Experience and Disinfection Lighting Solution for a Retail Store in Germany
Communication Protocols for Smart Lighting Systems
List of Exhibits
List of Exhibits (continued)
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