Global Smart lighting and control systems Market Is Likely To Grow At A CAGR Value Of Around 15.1% By 2028

The global smart lighting and control systems market was worth around USD 38,219.5 million in 2021 and is estimated to grow to about USD 84333.2 million by 2028, with a compound annual growth rate (CAGR) of approximately 15.1 percent over the forecast period. The report analyzes the smart lighting and control systems market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the smart lighting and control systems market.

Smart lighting and control systems are crucially important to multiple smart management systems that are deployed in this technologically advanced era. Increasing internet and digital penetration are expected to boost the popularity of smart lighting and control systems across the world. The global smart lighting and control systems market will see stellar growth through 2028.

Smart lighting and control systems have seen increasing deployment in smart city projects and this is significantly driving the smart lighting and control systems market potential over the forecast period.  

The rising population across the world has majorly influenced the demand for apparel and this has become the most lucrative application segment for the smart lighting and control systems marketplace. Sustainability is also anticipated to play a crucial role in the smart lighting and control systems market as stringent mandates are imposed regarding the use of chemicals in textile manufacturing and processing.

The COVID-19 pandemic led to a downfall in the smart lighting and control systems marketplace in 2020 and this trend was prominent over the same year. Restricted production and distribution capabilities hampered the deployment of smart lighting and control systems and lockdown restrictions made it worse for the smart lighting and control systems companies to operate sustainably in these adverse times.

The smart lighting and control systems market is expected to make an impressive comeback in the post-pandemic era as the world returns to normal. The increasing popularity of smart technologies, rising technological proliferation, and widespread digitization are expected to be prominent trends driving the smart lighting and control systems market growth through 2028.

The smart lighting and control systems market is anticipated to be restricted by the high costs of installation and maintenance and this is expected to slow down the market growth on a global level. Smart lighting and control systems companies are focusing on launching affordable alternatives to boost sales potential and this will especially be aimed at countries with low spending potential.

Smart lighting and control systems companies are also anticipated to deploy numerous organic and inorganic growth strategies to increase market presence across multiple geographies.

The global smart lighting and control systems market is segregated based on control systems, lighting source, end use application, and region. Based on end use application, the global market is distinguished into Fluorescent Lamps and Compact Fluorescent Lamps, High Intensity Discharge Lamps (HID), and Light Emitting Diodes (LED) Lights and Lamps. The Light Emitting Diodes (LED) Lights and Lamps segment is anticipated to hold a prominent market share over the forecast period and this is due to the rising popularity of these solutions in the lighting industry.

Asia Pacific region is anticipated to see smart lighting and control systems market growth at the fastest CAGR of all regions, increasing urbanization and industrialization in this region are expected to bolster the smart lighting and control systems market potential over the forecast period. Rising technological proliferation and increasing energy consumption by a growing population are also expected to boost the adoption of smart lighting and control systems in the APAC region.

Key players functioning in the global smart lighting and control systems market include General Electric Company, Koninklijke Philips N.V., Belkin International, Inc., Eaton Corporation, Lightwave PLC, Elgato Systems, LiFI Labs, Inc., Honeywell International, Inc., Lutron Electronics Company, Inc., and Acuity Brands Lighting, Inc.

Recent developments:

• In March 2021, Leviton an American electrical equipment manufacturer announced the launch of a new line of Decora Motion Sensors to provide optimal management of lighting to ensure accurate switching and control.

Browse the full “Smart lighting and control systems Market By Control systems (Smartphone Enabled, Daylight Sensing Technology, Proximity Sensing Technology, Others), By Lighting Source (Fluorescent Lamps and Compact Fluorescent Lamps, High Intensity Discharge Lamps (HID), Light Emitting Diodes (LED) Lights and Lamps), By End use application (Residential, Commercial, Industrial, Outdoor Lighting Applications), and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028” Report at https://www.zionmarketresearch.com/report/smart-lighting-control-systems-market

Global smart lighting and control systems market is segmented as follows:

By Control systems

• Smartphone Enabled
• Daylight Sensing Technology
• Proximity Sensing Technology
• Others

By Lighting Source

• Fluorescent Lamps and Compact Fluorescent Lamps
• High Intensity Discharge Lamps (HID)
• Light Emitting Diodes (LED) Lights and Lamps

By End use application

• Residential
• Commercial
• Industrial
• Outdoor Lighting Applications

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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