“According to the research report, the global Smart Lighting Market was estimated at USD 11.23 Billion in 2019 and is expected to reach USD 36.84 Billion by 2026. The global Smart Lighting Market is expected to grow at a compound annual growth rate (CAGR) of 18.5% from 2019 to 2026”.
In the lighting industry, smart lighting has made use of a light control system dependent on parameters such as temperature, movement, occupancy, and natural light, etc. The control system intelligently controls the lighting. Lighting thus consumes a high amount of energy. Government offices, by substituting reliable and advanced lighting control systems, rely on reducing energy use. Not only an automated lighting control provides cost-effective and versatile lighting, but it also controls user functions. Therefore there is an increasing need for smart lighting systems. A new concept is evolving and aggressively embraced, such as wireless networking. In the public houses, retail and automotive industries the technology for smart lighting will be used more in near future.
Growing number of smart city development initiatives across the globe is driving the market
The need for smart lighting globally is projected to increase advances in wireless technologies and IoT technology to provide hyper-connectivity between smart infrastructure devices. The integration of Artificial Intelligence and IoT into lighting systems provides the operational efficiency needed in different applications, such as vertical farms, automobile interiors, and smart homes such as self-dimming and smart lighting. Technological innovations and advances in many countries have revolutionized outdoor lighting from on and off to intelligent lighting. In the lighting industry, adopting IoT and AI technologies has raised the demand for city street intelligent lighting. This adds to the increased need for the automatic operation of luminescence systems. In today’s economy, the development of less powerful technology has a strong demand. Electronic or electrical devices most of these consume and work on electricity. The reduction of these energy sources has enhanced energy-efficient systems growth. Compared with conventional lighting, intelligent lighting requires far less electricity and offers a profitable smart lighting potential.
Global Smart Lighting Market: Overview
Smart Lighting is one of the most important lighting solutions for offering solutions for both outdoor and indoor uses using the latest upgraded technology products like LEDs, fluorescent bulbs, Luminaires, and other lighting solutions. When opposed to conventional incandescent and halogen lighting, smart lighting has greater energy efficiency. The key aim is to have longevity in terms of breakage resistance and vibration immunity. Street lighting, tunnel and bridge lighting, architectural, industrial, office lighting, and projection lighting are all examples of smart lighting applications. Smart lighting is a lighting industry innovation that uses a control system to intelligently control light based on parameters such as occupancy, movement, temperature, amount of natural light, and so on.
Global Smart Lighting Market: Growth Factors
Government regulations around the world are pushing the smart lighting industry by restricting the use of outdated lighting technologies. Governments all over the world are trying to phase out outdated lamps like incandescent and halogen lamps and promote the use of environmentally sustainable lighting. Tungsten halogen and compact fluorescent lamps will be phased out of use in Europe by 2020, according to new EU regulations. According to the current Ecodesign Law, lamps must have a maximum standby capacity of 0.5W and a minimum energy requirement of 85 lumens. This will promote the selling of energy-saving lamps in the country. Governments around the world are also providing tax cuts and incentives to facilitate the use of more energy-efficient lighting technologies. This is a significant factor in the market’s expansion.
The market’s adoption has been driven by the rapid increase in the number of smart city development projects and investments. When the world becomes more industrialized and urbanized, so does the amount of energy consumed in cities. Cities are thought to consume more than 60% of the world’s resources, with lighting alone accounting for 19% of global electricity consumption. Governments are dependent on advanced technology technologies to leverage assets and resources more efficiently in order to reduce energy usage and effectively manage resources. This is promoting the growth of smart city projects around the world, which will help the smart lighting industry meet demand.
Post time: Sep-18-2021
