The history of lighting has always been redefined with new inventions and practical technologies. Smart lighting is a great invention that has changed the face and history of the whole concept of lighting and illumination. Energy conservation and usage of green energy sources has become the need of the hour. Smart lighting is an effective and attractive attempt towards energy efficiency. This type of illumination includes high efficiency light fixtures that have special controls and abilities to make adjustments based on the requirements and availability of illumination. Smart lighting market is ablaze with anticipations of growth and expansion in the years to come.
Smart Lighting Market Drivers, Trends and Forecasts
Many end users are keen on making swift diversions from conventional lighting to smarter illumination. They concept of intelligent lighting controls and illumination systems is gaining popularity amongst manufacturers and customers as well. This innovative technology runs on automated control system that controls the fixtures and their various functions. These functions include color, control, intensity and adaptation. These intelligent control work based on various parameters such as the amount of total illumination and daylight, temperature of the room color, occupancy of the surroundings and movement in the area. These features make smart lighting market one of the booming markets across the globe.
Due to their efficiency and eco-friendly nature, these light fixtures are replacing conventional fixtures on a larger scale. Public lighting and government building are using these sources too. In fact, their application for public projects is the second largest in the global market. As far as growth potential is concerned, residential applications market is likely to grow at a great rate than present. It will grow at the CAGR of 87.5% at the end of next five years. The smart lighting market is segmented based on their components, applications, connectivity and geographical demands. All these segments have an impact of their own, when it comes to observing market trends.
Sensors, controllers and chipsets are the main components of intelligent systems, while wired and wireless are the only connectivity options. As far as applications of smart or intelligent lights are concerned, it is observed in a variety of areas including public, commercial, industrial, residential and governmental. Depending on the type, popular intelligent light fixtures are available in FL, LED, HID and CFL. As far as current scenario is concerned, US are the leading market for startups. LED based products are on high demand. Europe has the largest commercial, automobile and outdoor applications. The market is set to reach to USD 6747.9 million by the end of next five years.
The biggest opportunity for growth and expansion for smart lighting market is in the integration with various systems such as energy meters, traffic sensors, pollution sensors, parking lights and other outdoors fixtures.
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