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(I-SoftwareNews.Com, August 11, 2016 ) Smart lighting being an emerging concept in the lighting world, is facing slow acceptance in the market. This is mainly owing to the lack of awareness regarding the benefits of the technology. The customers here, are habituated to the traditional lighting more as compared to the innovative smart lighting. The comparatively high price of LED is a factor that had been constraining the adaptability of this market by the end-users in the recent years. However, the continuous decrease in price of LEDs along with improvement in its efficiency is expected to bolster the market during the forecast period.
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According to a new market research study titled ‘Smart Lighting Market to 2025 – Global Analysis and Forecast by Lighting Type, Application and Connectivity Technology’, the global smart lighting systems market was valued at US$ 10.55 Bn in 2015 and is estimated to reach US$ 51.05 Bn by 2025. The report highlights the trends prevalent in the global market and the factors driving the market along with those that act as deterrents to its growth.
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The global smart lighting market is categories into lighting types, application, connectivity technology and geographical regions. Furthermore the lighting type is broadly segmented into light emitting diode lights, fluorescent lights, compact fluorescent lights, high intensity discharge bulbs and others (such as photographic flashes and neon lamps).The lighting application market is further segmented into residential lighting, commercial lighting, industrial lighting, government, outdoor lighting, and automotive lighting. On the basis of connectivity technology the market is segment into wireless and wired technology. The global market is also segmented based on the basis of geographically as Europe, North America, Asia-Pacific, Middle East & Africa and South America.
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Currently, smart lighting have seen significant adoption in the European countries and North America. Furthermore, with advancements in technology and infrastructure, various developing economies in APAC and MEA are expected to witness significant adoption of smart lighting solutions. Thus, Europe dominate the global smart lighting market, however, they are expected to lose market share to APAC during the forecast period. The APAC region is expected to register a growth rate of 23.7% during 2016 to 2025.
In 2015, USA was leading the smart lighting market in North America, and is expected to lose its share to other major North American countries such as Canada and Mexico during the forecast period of 2016-2025. Where U.S would be growing at a CAGR of 13.7%, Mexico and Canada are expected to grow at a CAGR of 16.0% and 18.3% respectively.
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The report profiles key players such as Konjnklijke Philips N.V., Osram GmbH, Lutron Electronics Co. Inc., Lutron, Legrand S.A., Acuity Brands, Digital Lumens, Inc. and Zumtobel.
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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Media, and Telecommunication industries.
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Sameer Joshi
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sales@theinsightpartners.com
Source: EmailWire.Com 
Source: EmailWire.com
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