Smart lighting is a technology designed for using energy more efficiently. The technology involves automated controls and high-efficiency fixtures, which are capable of making adjustments on the basis of various environmental conductions. The light control system is a network-based lighting control solution that involves communication between numerous system inputs & outputs with the help of central computing devices. These lighting control systems are widely used in indoor and outdoor lighting solutions in commercial, industrial, and residential areas.
MARKET SCOPE
The "Global Smart Lighting and Control System Market Analysis to 2028" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of the smart lighting and control system market with detailed market segmentation by offering, connectivity, end-user, and geography. The report provides key statistics on the market status of the leading smart lighting and control system market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on offering, the global smart lighting and control system market is segmented into hardware, software, and services.
- On the basis of connectivity, the market is segmented into wired and wireless.
- Based on end-user, the market is segmented into industrial, residential, and commercial.
MARKET DYNAMICS
Drivers:
- The major drivers contributing to the growth of the smart lighting and control system market include technological innovations, rising demand for energy efficient products and systems, significant acceptance of internet of things (IoT), and increase in infrastructural development.
- Growing awareness among consumers and government initiatives towards smart cities are anticipated to boost the smart lighting and control system market in the coming years.
Restraints:
- High cost may hinder the growth of the smart lighting and control system market.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The smart lighting and control system market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the smart lighting and control system market in these regions.
IMPACT OF COVID-19 ON SMART LIGHTING AND CONTROL SYSTEM MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the smart lighting and control system market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from smart lighting and control system market are anticipated to lucrative growth opportunities in the future with the rising demand in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the smart lighting and control system market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- ACUITY BRANDS LIGHTING, INC.
- Belkin International, Inc.
- Control4 Corporation
- Eaton
- General Electric
- Honeywell International Inc.
- Itron Inc.
- Lutron Electronics Co., Inc.
- Signify Holding
- Telensa
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.