As per the study initiated by Evolve Business Intelligence, Smart Lighting market size accounted for USD 14.5 Billion in 2022, growing at a CAGR of 21.2% from 2023 to 2033. The smart lighting market has been experiencing significant growth and transformation in recent years. Smart lighting refers to the use of advanced technologies, such as sensors, wireless communication, and intelligent controls, to provide energy-efficient and personalized lighting solutions. These systems can be integrated into residential, commercial, industrial, and outdoor lighting applications.
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- Smart Lighting Market size was valued at USD 14.5 billion in 2022 growing at a CAGR of 21.2% from 2023 to 2033.
- North America dominated the market in 2022
- Asia Pacific is expected to fastest-growing at the highest CAGR from 2023 to 2033
Evolve Business Intelligence has recently released a new market research report on the Smart Lighting Market. The report covers a wide range of aspects, such as market size and forecast, market dynamics, analysis of competitors’ market share, value and volume of the market, SWOT analysis, product benchmarking, recent developments of key players, and potential opportunities. Additionally, the market has been assessed based on four indicators in the market dynamic chapter, including Drivers, Restraints, Key Trends, and Challenges.
In terms of COVID 19 impact, Smart Lighting market report also includes the following data points:
- COVID19 Impact on Smart Lighting market size
- End-User/Industry/Application Trend, and Preferences
- Government Policies/Regulatory Framework
- Key Players Strategy to Tackle Negative Impact/Post-COVID Strategies
- Opportunity in Agricultural Coatings market
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Some of the major Smart Lighting players holding high market share include Acuity Brands ., Signify Holding ., Honeywell International Inc. , and Ideal Industries, Inc.. These players use partnership and collaboration as a key strategy to gain significant market share to compete with market leaders.
The key players profiled in the report are:
- Acuity Brands
- Signify Holding
- Honeywell International Inc.
- Itron Inc (Streetlight Vision)
- Ideal Industries, Inc.
- Häfele GmbH & Co KG
- Wipro Consumer Lighting
- Sengled Optoelectronics Co., Ltd.
Market Segment By Component with focus on market share, consumption trend, and growth rate of Smart Lighting Market:
Market Segment By Application with focus on market share, consumption trend, and growth rate of Smart Lighting Market:
Market Segment By Connectivity with focus on market share, consumption trend, and growth rate of Smart Lighting Market:
|Market Size (2022)||$ 14.5 Billion|
|CAGR (2023 to 2033)||21.2%|
|Market Segmentation||Component , Application, Connectivity|
|Country Covered||US, Canada, Mexico, UK, Germany, France, Italy, Spain, Nordic Countries, BeNeLux, Rest of Europe, China, India, Japan, South Korea, Indonesia, Malaysia, Australia, Rest of Asia Pacific, Middle East & Africa, and South America|
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Smart Lighting Geographic Coverage:
- North America
- Nordic Countries
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- Latin America
- Rest of Latin America
Reasons to Buy this Report:
- Detail analysis of the impact of market drivers, restraints, and opportunities
- Competitive Intelligence provides an understanding of the ecosystem
- Details analysis of the Total Addressable Market (TAM) of your products
- Investment Pockets and New Business Opportunities
- Demand-supply gap analysis
- Strategy Planning
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