Smart lighting market will usher in explosive growth

In the next few years, the smart lighting market is expected to grow exponentially. According to the research conducted by the market research, the scale of the commercialized market in this field is very obvious. The research said that by the end of 2025, the market share of the smart lighting industry will exceed a total valuation of 23 billion US dollars. It is estimated that the compound annual growth rate from 2019 to 2025 will exceed 15%.

Smart lighting market will usher in explosive growth

The rapid growth of smart city development plans and investments has further accelerated market adoption. With the development of industrialization and urbanization, energy consumption between cities is also increasing

It is estimated that cities account for more than 60% of the world's energy consumption, and lighting alone consumes 19% of the world's electricity. In order to reduce energy consumption and efficiently manage resources, governments are using advanced technological solutions to manage assets and resources more effectively. This encourages the development of global smart city plans, which will gather demand for the smart lighting industry.

However, compared with traditional lighting alternatives, the high cost of smart lighting solutions has become a major constraint on the growth of the smart lighting market. In addition, safety issues related to the use of networked lighting and smart lighting systems will also hinder market growth.

product

From the product point of view, hardware accounted for more than 80% of the smart lighting market in 2018, leading the way. The growth of the smart lighting market is mainly due to the widespread adoption of smart bulbs and networked lighting systems in residential and commercial sectors. Integrating advanced technologies such as Bluetooth, ZigBee and Wi-Fi into lighting solutions is one of the main factors driving market growth. This allows smart bulbs to be controlled via mobile apps or home and building automation hubs, and individual bulbs can be programmed to change the output as required.

In addition, the cost-effective nature and energy efficiency of smart bulbs are increasing their demand in the market. It is estimated that more than 250 million smart bulbs will be sold by 2025.

In the forecast time frame, the compound annual growth rate of the software market will exceed 22%. The market is driven by the growing popularity of global smart home and business automation solutions. In the past five years, the integration of IoT devices in residential and commercial areas has suddenly increased. Consumers are using connected devices to reduce energy consumption and manage their devices remotely from remote locations.

Intelligent lighting control software allows users to control the intensity of lights and luminaires based on infrastructure, environment and light intensity. In addition, the emergence of lighting-as-a-service solutions and the proliferation of mobile applications for controlling lighting have also become the main driving force for the growth of the software market.

technology

Due to more reliability and stability, wired technology occupies a major share of the smart lighting market, accounting for more than 70% in 2018. The market growth is attributed to the increasing popularity of wired communication technology in the outdoor lighting field. The strong characteristics of wired technology and the high reliability and control ability of lighting solutions make it an ideal solution for outdoor lighting applications. The large-scale adoption of PLC technology in outdoor lighting applications and the large-scale adoption of DALI in indoor lighting applications also contribute to market growth.

Excellent performance, such as sensitivity to electromagnetic interference and high reliability under extreme environmental conditions, has also driven the demand for this technology. However, the flexibility and limited scalability of wired solutions have become the main constraints for market growth.

During the forecast period, the compound annual growth rate of wireless technology will exceed 21%. The market growth is driven by the increasing popularity of wireless connections in lighting applications. Lighting manufacturers are changing from traditional lighting control protocols to complex wireless lighting control systems. Wireless technology provides a natural grid for connections, improves operational efficiency, and helps develop new business channels.

Compared with traditional wired technology, wireless technology also has many advantages, including flexibility, cost-effectiveness, ease of installation and safety, thereby increasing its demand in commercial and residential market spaces.

application

Indoor lighting occupies more than 78% of the smart lighting market. The growth of the market is attributed to the growing demand for energy-efficient lighting solutions in the residential and commercial sectors. Businesses and homes are using smart lighting solutions to reduce energy consumption because it can save energy by using a demand-based lighting management system. The intelligent lighting management system detects and collects real-time data on personnel, light field sensing and daylight to optimize the required light output. At the same time, the system also supports indoor navigation, which allows targeted access and improvement of information in high-traffic buildings.

During the forecast period, outdoor lighting will grow at a compound annual growth rate of approximately 20%. The growth of the market is driven by the global smart city development plan. Smart lighting solutions are widely used in highways and highways, bridges and tunnels, and public places to reduce energy consumption. The increasing demand from government authorities to optimize energy use and remotely manage lighting resources has further accelerated the industry's adoption.

background

In the past five years, smart lighting has become one of the most disruptive technologies. Advanced LED lights can significantly save costs in terms of energy costs. Companies provide smart lighting as part of the Internet of Things system to achieve a highly connected infrastructure. This provides users with additional control to effectively manage smart lighting systems. As cheaper and smarter lamps quickly replace fluorescent lamps (CFL) and incandescent bulbs, smart and networked digital lighting using the Internet of Things is expected to bring outstanding intelligence and functionality to lighting systems.

As modern smart city infrastructure provides enhanced connectivity between multiple administrative modules including law and order, healthcare, and transportation, plans to develop such smart cities have proliferated. Therefore, this will provide countless business expansion opportunities for smart lighting market participants in the next few years.

In summary, as the global demand for reducing energy consumption and costs continues to grow, and the demand for efficient lighting systems continues to grow, the commercialization potential of the entire smart lighting industry is worth looking forward to.

Contact

Submit To Get Prices:

Image CAPTCHA