Global Smart lighting and control systems Market size was USD USD 38,219.5 Billion in 2023 and to rise to USD 84333.2 Million by 2032 at a CAGR of 8.32%.
FrequentlyAsked Questions
Increasing demand for smart technologies and increasing smart city projects are some major trends that guide smart lighting and control systems market growth.
According to the Market Research report, the global smart lighting and control systems market was worth about US$ 38,219.5 million in 2021 and is predicted to grow to around US$ 84333.2 million by 2028, with a compound annual growth rate (CAGR) of around 15.1 percent.
The Asia Pacific region leads the global smart lighting and control systems market in terms of revenue and volume share and this can be attributed to rapid industrialization and urbanization in this region
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.
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