Smart lighting and control systems Market Size, Share, Trends, Growth and Forecast 2032

Industry Prospective:

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 Market: Overview

Smart lighting and control systems allow better control and management of lighting in a structure and they have seen a rise in adoption owing to the increasing popularity of smart technologies across the world. Increasing focus on efficient lighting and energy management is also expected to boost the adoption of smart lighting and control systems through the forecast period.

increasing consumption of electricity has propelled the adoption of novel technologies to bolster energy management and conservation as time advances. Increasing establishment of smart cities and increasing technological proliferation are major trends propelling smart lighting and control systems market potential.

However, the high costs associated with the installation and maintenance of these smart lighting and control systems are expected to hamper the global smart lighting and control systems market growth in the coming years.  

COVID-19 Impact:

The COVID-19 pandemic led to a negative growth trend in the smart lighting and control systems marketplace. The lockdown restrictions made it impossible to deploy smart lighting and control systems solutions and hence this resulted in losses for smart lighting and control systems companies. Lockdown restrictions across the world hampered the production of smart lighting and control systems and also distribution which had a negative impact on the smart lighting and control systems market.

The adoption of smart lighting and control systems is expected to pick up across the world in the post-pandemic era as the restrictions are lifted and the world returns to normal. Resumption of smart city projects and increasing demand for smart technologies is expected to boost the smart lighting and control systems market potential through 2028.   

Smart lighting and control systems Market: Growth Drivers

Increasing Demand from Smart City projects

The world has seen multiple technological advancements and this trend has majorly influenced the way of life across the world. In this digital era, smart cities are of utmost important essence and this is expected to drive the adoption of smart lighting and control systems. These smart lighting and control systems enable smart cities to operate in an optimal manner and hence make them as they are named. Increasing energy consumption has led to an uproar in demand for energy management and this trend is projected to majorly benefit the smart lighting and control systems market potential through 2028.

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Smart lighting and control systems Market: Restraints

High Costs of Deployment to Hinder Smart lighting and control systems Market Growth

Smart lighting and control systems solutions are equipped with sensors and other electronic components that drive up their costs and hence act as a restraining factor for the smart lighting and control systems market growth in the long term. Smart lighting and control systems has high initial as well as maintenance costs which further gives uncertainty to the adoption of these systems, especially in the low income economies that are incapable of spending such an amount on these systems.

Global Smart lighting and control systems Market: Segmentation

The global smart lighting and control systems market is segregated based on control systems, lighting source, end use application, and region.

By lighting source, the market is divided 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 have a bright outlook over the forecast period owing to the rising demand for efficient lighting solutions. Government initiatives to boost the use of LED light fixtures are expected to advance the growth of this segment.

By End use application, the smart lighting and control systems market is segmented into residential, commercial, Outdoor Lighting Applications, and industrial. The industrial segment is projected to see good growth over the forecast period. However, the Outdoor Lighting Applications segment is anticipated to be driven by the increasing establishment of smart city projects on a global scale through 2028.

Report Scope:

Recent Developments

• In March 2021 – the launch of an improved NX Distributed Intelligence Lighting Control Panel from the NXP2 Series was announced by Hubbell Control Solutions which is capable of centralizing and creating a user friendly lighting solution.  

Regional Landscape

Asia Pacific region will be the fastest growing smart lighting and control systems market in terms of revenue and volume share on a global scale. Increasing technological proliferation and government-supported smart city initiatives are anticipated to bolster the smart lighting and control systems market [potential in this region through 2028. Emerging economies such as India, China, and Japan are anticipated to be the most lucrative markets in the APAC region over the forecast period. Increasing investments in the deployment of these smart lighting and control systems are expected to boost market potential in the aforementioned countries.

Competitive Landscape

Some of the main competitors dominating 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.

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