Smart Lighting Market Research Report Information by Installation Type (New Installation, Retrofit Installations), By Offering (Hardware, Software, Services), End Use Application (Indoor, Outdoor), Communication Technology (Wired, Wireless), and Region (N

Over the course of the forecast period, the smart lighting market is anticipated to grow at a noteworthy compound annual growth rate (CAGR) of 18.2%. The main factors propelling market expansion are the expansion of smart city initiatives in developing countries and improvements in integrated lighting control systems. The industry is expanding because to government laws requiring the use of LEDs and the rising acceptance of IOT-based smart home automation.

Installing LEDs instead of traditional lighting is primarily motivated by cost and energy savings. In outdoor lighting applications, LEDs are taking the place of traditional light sources such as high-intensity discharge (HID), fluorescent, incandescent, and high-pressure sodium lamps. Stadiums, public areas, roads, and highways are the main locations for outdoor illumination. According to the US DOE, because LED lights are superior to conventional lights, they will account for 86% of all lighting sales by 2035.

Perspectives on Market Segments
Both new and retrofit installations are included in the market segmentation for smart lighting based on installation type.
The smart lighting market has been divided into three segments based on the products and services offered: hardware, software, and services.
The smart lighting market has been divided into indoor and outdoor segments based on end-use applications. The indoor application is further divided into three categories: commercial, industrial, and residential.
The market for smart lighting has been divided into wired and wireless segments based on communication technology.

Regional Perspectives
With a 41.5% market share in 2024, North America leads the smart lighting industry. Strong industry presence and early adoption of smart lighting technologies in both residential and commercial settings may be to blame for this. Smart street lighting systems are being quickly adopted by major cities in the US and Canada to benefit from features like remote management and energy savings.

When it comes to creating safety and uniform performance criteria for indoor commercial smart lighting applications like parking lots, garages, and roads, Europe is leading the way. As LED designs and technology continue to progress, dedicated LED luminaires and LED replacement smart bulbs are becoming important areas of development in the lighting industry.

China, India, Japan, South Korea, Malaysia, Indonesia, Thailand, and the rest of Asia make up the APAC area. Because of the increasing demand from the commercial and residential application categories, Asia Pacific is anticipated to develop at the quickest CAGR of 23.7% over the course of the projected period. With the biggest worldwide market share, China is anticipated to be the biggest source of income.

The GCC nations, South Africa, and the remainder of the MEA make up the Middle East and Africa. The formation of smart city initiatives and a growing focus on building environmentally friendly smart and intelligent city structures are the main reasons why smart lighting is slowly but surely gaining popularity in the MEA area.

Key Players
The following companies are major players in the smart lighting market: Hubbell Incorporated, Crestron Electronics Inc., Insteon, EGLO Leuchten GmbH, Eve Systems GmbH, LG Electronics Inc., Wiz Connected Lighting Co. Ltd., Wipro Lighting Limited, Lutron Electronics Co. Inc., Signify Holding, Wyze Labs Inc., Sengled, Inter IKEA Holding, Acuity Brands Inc.