Smart Lighting Market Report 2023

Smart Lighting Global Market Report 2023 – By Product Type (Smart Bulbs, Fixtures, Lighting Controls), By Application (Commercial, Government, Residential, Other Applications), By Light Source (LED, HID, Other Light Sources), By Communication Technology (Wired, Wireless) – Market Size, Trends, And Global Forecast 2023-2032

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Smart lighting is defined as lighting technology for smart homes connected to the internet. The use of sensors for instances like automatic light dimming or adjusting the brightness of light depending on the mood of the user are some of the features of smart lighting. A smart lighting system ensures high-cost savings and lower energy usage.

The smart lighting is of different types such as smart bulbs, fixtures and lighting controls and provide light through various sources such as LED, HID and other light sources. Smart bulbs are controlled using an app or smartphone to turn on and off. Smart lighting use two types of communication technology such as wired and wireless and applied across commercial, governmental, residential and other areas.

The global smart lighting market is segmented -

1) By Product: Smart Bulbs, Fixtures, Lighting Controls

2) By Application: Commercial, Government, Residential, Other Applications

3) By Light Source: LED, HID, Other Light Sources

4) By Communication Technology: Wired, Wireless

The global smart lighting market size will grow from $13.15 billion in 2022 to $15.55 billion in 2023 at a compound annual growth rate (CAGR) of 18.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global smart lighting is expected to grow to $31.77 billion in 2027 at a CAGR of 19.6%.

Government support in developed and developing economies drive the growth of the smart lighting market. The growth of the smart lighting market in emerging markets is reinforced by the increase in disposable incomes, regulatory support in using energy-efficient lights, and the incorporation of advanced technologies. A smart lighting system confirms high-cost savings and lower energy consumption. For instance, in January 2020, according to a press release issued by Government of India, Ministry of Power, as part of the UJALA initiative, Street Lighting National Programme (SLNP) intends to replace 1.34 crore conventional streetlights in India with smart LEDs by March 2020. This ambitious target will make a significant difference, allowing for a peak demand reduction of around 1500 MW, yearly energy savings of 9 billion kWh, and a decrease in CO2 emissions of 6.2 million tonnes per year. Therefore, supportive government plans increase the demand for smart lights thus propelling the market for smart lighting.

Major players in the smart lighting market are Koninklijke Philips NV, Cree Inc., General Electric Company, Acuity Brands Inc., Cisco Systems Inc., Eaton, Deco Lighting, Dialight, Honeywell Inc., and Osram Licht AG.

The harmful effects of smart lights such as LEDs on health restricts the growth of smart lighting market. Smart lights such as LEDs uses shortwave light, often called “cool” in colour. The prolonged continuous exposure to this light may damage the vision of a person. For instance, in August 2021, according to an article published by Ultralase, a UK-based healthcare company, LED lights are 'phototoxic,' which means they can cause irreversible retinal cell loss and impaired vision clarity. Chronic exposure to LED lights can hasten the ageing of retinal tissue, resulting in a loss of visual acuity and an increased risk of eye illnesses such age-related macular degeneration (AMD).

The use of Li-fi (Light Fidelity) network is the latest trend in the general lighting market. Li-Fi is a wireless optical networking technology that uses light-emitting diodes (LEDs) for data transmission. The Li-fi bulbs are equipped with a small chip that modulates the light used for data transmission. The common household LED light bulbs are used to enable data transfer with speeds up to 224 gigabits per second. Keeping up with the trend, in 2020, Light Rider Inc., a quantum Li-Fi company announced the launch of two quantum encryption products called the Light Rider LT and Light Rider Quantum. The company is the first to combine Li-Fi, a wireless communication technology that utilizes light to transmit data between devices, and quantum technology.

In March 2020, Signify, headquartered in the Netherlands and specializing in LED lighting systems and services, acquired Cooper Lighting for a deal amount of $1.4 billion on a cash-free and debt-free basis. With increased innovation power and more competitive offerings, the transaction strengthens Signify's market positions in North America.Signify will focus on integrating Cooper Lighting and delivering synergies. Cooper Lighting is headquartered in the United States and specialises in professional lighting, lighting controls, and connected lighting.

North America was the largest region in the smart lighting market in 2022. Western Europe was the second-largest region in the global smart lighting market share. The regions covered in the global smart lighting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The countries covered in the smart lighting market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The smart lighting market consists of sales of smart bulbs, smart light fixtures, smart lighting controls, and other smart lighting. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The smart lighting market research report is one of a series of new reports from The Business Research Company that provides smart lighting market statistics, including smart lighting industry global market size, regional shares, competitors with a smart lighting market share, detailed smart lighting market segments, market trends and opportunities, and any further data you may need to thrive in the smart lighting industry. This smart lighting market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

    Table Of Contents

    1. Executive Summary

    2. Smart Lighting Market Characteristics

    3. Smart Lighting Market Trends And Strategies

    4. Smart Lighting Market – Macro Economic Scenario

    4.1 COVID-19 Impact On Smart Lighting Market

    4.2 Ukraine-Russia War Impact On Smart Lighting Market

    4.3 Impact Of High Inflation On Smart Lighting Market

    5. Smart Lighting Market Size And Growth

    5.1. Global Smart Lighting Historic Market, 2017-2022, $ Billion

    5.1.1. Drivers Of The Market

    5.1.2. Restraints On The Market

    5.2. Global Smart Lighting Forecast Market, 2022-2027F, 2032F, $ Billion

    5.2.1. Drivers Of The Market

    5.2.2. Restraints On the Market

    6. Smart Lighting Market Segmentation

    6.1. Global Smart Lighting Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    Smart Bulbs

    Fixtures

    Lighting Controls

    6.2. Global Smart Lighting Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    Commercial

    Government

    Residential

    Other Applications

    6.3. Global Smart Lighting Market, Segmentation By Light Source, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    LED

    HID

    Other Light Sources

    6.4. Global Smart Lighting Market, Segmentation By Communication Technology, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    Wired

    Wireless

    7. Smart Lighting Market Regional And Country Analysis

    7.1. Global Smart Lighting Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    7.2. Global Smart Lighting Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    8. Asia-Pacific Smart Lighting Market

    8.1. Asia-Pacific Smart Lighting Market Overview

    Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies

    8.2. Asia-Pacific Smart Lighting Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    9. China Smart Lighting Market

    9.1. China Smart Lighting Market Overview

    9.2. China Smart Lighting Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion

    10. India Smart Lighting Market

    10.1. India Smart Lighting Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    11. Japan Smart Lighting Market

    11.1. Japan Smart Lighting Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    12. Australia Smart Lighting Market

    12.1. Australia Smart Lighting Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    13. Indonesia Smart Lighting Market

    13.1. Indonesia Smart Lighting Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    14. South Korea Smart Lighting Market

    14.1. South Korea Smart Lighting Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    15. Western Europe Smart Lighting Market

    15.1. Western Europe Smart Lighting Market Overview

    15.2. Western Europe Smart Lighting Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    16. UK Smart Lighting Market

    16.1. UK Smart Lighting Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    17. Germany Smart Lighting Market

    17.1. Germany Smart Lighting Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    18. France Smart Lighting Market

    18.3. France Smart Lighting Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    19. Eastern Europe Smart Lighting Market

    19.1. Eastern Europe Smart Lighting Market Overview

    19.2. Eastern Europe Smart Lighting Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    20. Russia Smart Lighting Market

    20.1. Russia Smart Lighting Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    21. North America Smart Lighting Market

    21.1. North America Smart Lighting Market Overview

    21.2. North America Smart Lighting Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    22. USA Smart Lighting Market

    22.1. USA Smart Lighting Market Overview

    22.2. USA Smart Lighting Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    23. South America Smart Lighting Market

    23.1. South America Smart Lighting Market Overview

    23.2. South America Smart Lighting Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    24. Brazil Smart Lighting Market

    24.1. Brazil Smart Lighting Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    25. Middle East Smart Lighting Market

    25.1. Middle East Smart Lighting Market Overview

    25.2. Middle East Smart Lighting Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    26. Africa Smart Lighting Market

    26.1. Africa Smart Lighting Market Overview

    26.2. Africa Smart Lighting Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    27. Smart Lighting Market Competitive Landscape And Company Profiles

    27.1. Smart Lighting Market Competitive Landscape

    27.2. Smart Lighting Market Company Profiles

    27.2.1. Koninklijke Philips NV

    27.2.1.1. Overview

    27.2.1.2. Products and Services

    27.2.1.3. Strategy

    27.2.1.4. Financial Performance

    27.2.2. Cree Inc.

    27.2.2.1. Overview

    27.2.2.2. Products and Services

    27.2.2.3. Strategy

    27.2.2.4. Financial Performance

    27.2.3. General Electricity Company

    27.2.3.1. Overview

    27.2.3.2. Products and Services

    27.2.3.3. Strategy

    27.2.3.4. Financial Performance

    27.2.4. Acuity Brands Inc.

    27.2.4.1. Overview

    27.2.4.2. Products and Services

    27.2.4.3. Strategy

    27.2.4.4. Financial Performance

    27.2.5. Cisco Systems Inc.

    27.2.5.1. Overview

    27.2.5.2. Products and Services

    27.2.5.3. Strategy

    27.2.5.4. Financial Performance

    28. Key Mergers And Acquisitions In The Smart Lighting Market

    29. Smart Lighting Market Future Outlook and Potential Analysis

    30. Appendix

    30.1. Abbreviations

    30.2. Currencies

    30.3. Historic And Forecast Inflation Rates

    30.4. Research Inquiries

    30.5. The Business Research Company

    30.6. Copyright And Disclaimer

List Of Tables

    Table 1: Global Historic Market Growth, 2017-2022, $ Billion
  • Table 2: Global Forecast Market Growth, 2022-2027F, 2032F, $ Billion
  • Table 3: Global Smart Lighting Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 4: Global Smart Lighting Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 5: Global Smart Lighting Market, Segmentation By Light Source, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 6: Global Smart Lighting Market, Segmentation By Communication Technology, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 7: Global Smart Lighting Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 8: Global Smart Lighting Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 9: Asia-Pacific, Smart Lighting Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 10: China, Smart Lighting Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 11: India, Smart Lighting Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 12: Japan, Smart Lighting Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 13: Australia, Smart Lighting Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 14: Indonesia, Smart Lighting Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 15: South Korea, Smart Lighting Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 16: Western Europe, Smart Lighting Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 17: UK, Smart Lighting Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 18: Germany, Smart Lighting Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 19: France, Smart Lighting Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 20: Eastern Europe, Smart Lighting Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 21: Russia, Smart Lighting Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 22: North America, Smart Lighting Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 23: USA, Smart Lighting Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 24: South America, Smart Lighting Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 25: Brazil, Smart Lighting Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 26: Middle East, Smart Lighting Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 27: Africa, Smart Lighting Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 28: Koninklijke Philips NV Financial Performance
  • Table 29: Cree Inc. Financial Performance
  • Table 30: General Electricity Company Financial Performance
  • Table 31: Acuity Brands Inc. Financial Performance
  • Table 32: Cisco Systems Inc. Financial Performance

List Of Figures

    Figure 1: Global Historic Market Growth, 2017-2022, $ Billion
  • Figure 2: Global Forecast Market Growth, 2022-2027F, 2032F, $ Billion
  • Figure 3: Global Smart Lighting Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 4: Global Smart Lighting Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 5: Global Smart Lighting Market, Segmentation By Light Source, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 6: Global Smart Lighting Market, Segmentation By Communication Technology, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 7: Global Smart Lighting Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 8: Global Smart Lighting Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 9: Asia-Pacific, Smart Lighting Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 10: China, Smart Lighting Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 11: India, Smart Lighting Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 12: Japan, Smart Lighting Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 13: Australia, Smart Lighting Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 14: Indonesia, Smart Lighting Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 15: South Korea, Smart Lighting Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 16: Western Europe, Smart Lighting Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 17: UK, Smart Lighting Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 18: Germany, Smart Lighting Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 19: France, Smart Lighting Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 20: Eastern Europe, Smart Lighting Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 21: Russia, Smart Lighting Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 22: North America, Smart Lighting Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 23: USA, Smart Lighting Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 24: South America, Smart Lighting Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 25: Brazil, Smart Lighting Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 26: Middle East, Smart Lighting Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 27: Africa, Smart Lighting Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 28: Koninklijke Philips NV Financial Performance
  • Figure 29: Cree Inc. Financial Performance
  • Figure 30: General Electricity Company Financial Performance
  • Figure 31: Acuity Brands Inc. Financial Performance
  • Figure 32: Cisco Systems Inc. Financial Performance
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