Smart Lighting Market Share, Size, Trends, Industry Analysis Report, By Type (Smart Light Bulbs, Smart Lights Connected with Hubs and Motion Sensing Lights); By Communication Technology; By Application; By Region; Segment Forecast, 2023 - 2032

Smart Lighting Market Share, Size, Trends, Industry Analysis Report, By Type (Smart Light Bulbs, Smart Lights Connected with Hubs and Motion Sensing Lights); By Communication Technology; By Application; By Region; Segment Forecast, 2023 - 2032

The global smart lighting market size is expected treach USD 72.10 billion by 2032, according ta new study by Polaris Market Research. The report “Smart Lighting Market Share, Size, Trends, Industry Analysis Report, By Type (Smart Light Bulbs, Smart Lights Connected with Hubs and Motion Sensing Lights); By Communication Technology; By Application; By Region; Segment Forecast, 2023 - 2032” gives a detailed insight intcurrent market dynamics and provides analysis on future market growth.

The popularity and demand for lights have grown in commercial and residential areas due ttheir ability tlink with IoT devices and provide ambient lighting using smartphones or tablets. Smart lights may be dimmed with different color tones depending on the situation, have their on/off times set, track their energy use, and link tother devices through Bluetooth, Wi-Fi, SmartThings, Z-Wave, or ZigBee.

Moreover, smart lights may be voice-controlled by integrating with a platform like Google Assistant, Amazon's Alexa, Apple's Siri, or Microsoft's Cortana. These numerous functions beyond illumination and the rising popularity of IoT devices and smart assistant platforms have opened up new business opportunities for smart lighting.

Government initiatives promoting energy efficiency and environmental protection, together with strict restrictions, deter people from using incandescent lighting, which is expected tincrease demand for LED smart lighting. Over 19% of the world's power is used by the lighting industry, which alsaccounts for 6% of all greenhouse gas emissions. LED smart lights, on the other hand, are incredibly effective. They link gadgets tgather data for upcoming procedures and use nearly 70% less energy. They are devoid of any mercury contamination and have much longer lifespans. Likewise, LED lights don't release any dangerous greenhouse gas emissions.

The use of smart lights is anticipated trise due tadvantages including regulated power consumption, longer life, numerous light settings in a single lamp or luminaire, and accessibility ta large selection of contemporary decorative lighting items. Smart lighting adoption has yet treach its full potential in the residential, commercial, and industrial sectors. Thus, it is anticipated that demand for LED-based smart lighting will increase throughout the projection period due tnumerous government measures tencourage their usage.

Smart Lighting Market Report Highlights

The motion-sensing lights are anticipated tsee a sizable CAGR during the anticipated period. The widespread adoption of intelligent home infrastructure projects is the cause of this, as it provides end users with increased protection and lowers energy usage by automatically shutting off lights when nmotion is detected.

The Wi-Fi sector is anticipated thave the largest market share worldwide throughout the anticipated period. Tmanage the color of luminaires in a small space, the residential sector has been the main user of this technology, which has ultimately increased segmental growth globally.

The residential sector is predicted tgenerate significant revenue. Due tincreased consumer awareness of smart lighting and the adoption of energy-efficient goods, intelligent lighting has been widely used in residential structures.

Europe is lead the world market in revenue in 2022 due tthe regional government's work on drafting safety and consistent performance criteria for certain indoor commercial intelligent lighting for streets, parking, and garages.

The global key market players include Acuity Brands, GE current, Häfele GmbH & CKG, Helvar, Honeywell International, Ideal Industries, Itron Inc., LG Electronics, LightwaveRF, Lutron Electronics Company, Panasonic Corporation, RAB Lighting Inc., Schneider Electric, Sengled Optoelectronics, Signify Holding, Syska, Verizon, WiprConsumer Lighting, YEELIGHT, and Zumtobel group ag.

Polaris Market Research has segmented the Smart Lighting market report based on type, communication technology, application, and region:

Smart Lighting, Type Outlook (Revenue - USD Billion, 2019 - 2032)

Smart Light Bulbs

Smart Lights Connected with Hubs

Motion Sensing Lights

Smart Lighting, Communication Technology Outlook (Revenue - USD Billion, 2019-2032)

Wi-Fi

Bluetooth

Zig-bee

Others

Smart Lighting, Application (Revenue - USD Billion, 2019 - 2032)

Residential

Commercial

Industrial

Smart Lighting, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

North America

U.S.

Canada

Europe

Germany

UK

France

Italy

Spain

Russia

Netherlands

Asia Pacific

China

India

Japan

South Korea

Indonesia

Malaysia

Latin America

Argentina

Brazil

Mexico

Middle East & Africa

UAE

Saudi Arabia

Israel

South Africa