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Venkat Reddy
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Global Smart Lighting Market Glowing with Intelligent Lighting Solutions
The global smart lighting market size stood at $6.87 billion in 2018.The market is growing at an astonishing compound annual growth rate CAGR of 22.67% in the forecast period of 2019 to 2025.

Smart Lighting Market, 6/14/2019 - Global energy needs are rising consistently, however, the supply to the same is still limited. Since saving energy in every possible manner is the focus of the current century, emerging efficient smart lighting systems in the context of smart homes and smart cities are the trending drift. As per a research report published by IndustryARC, the global smart lighting market size stood at $6.87 billion in 2018. Following the emerging consciousness towards a sustainable future, the market is growing at an astonishing compound annual growth rate (CAGR) of 22.67% in the forecast period of 2019 to 2025.

The report is titled “ Smart Lighting Market: By Component (Sensors, Networks, Luminaries, Others); By Technology (Wired, Wireless); By Application (Commercial, Industrial, Others); By Geography – Forecast (2019 - 2025).” The report provides comprehensive research insights based on market size, trends, forecast, demands, geographies, and key players.

Browse Smart Lighting Market Report link:

Global Smart Lighting Market Trends

· IoT: This evolving technology is proposed to connect all the electronic devices to the Internet. Once the connection is established, the lights in the interiors of infrastructure can be controlled through any device via the Internet. Saving electricity in the absence of any individual will become an easy task and it will significantly reduce the power consumption

· Solar Lighting: Extracting energy from solar light is also one of the aspects of smart lighting solutions. Storing solar energy in the daylight and using the stored energy in the form lights and other solution will reduce the carbon emissions in noteworthy amounts.

· Home Assistant: Introduction of numerous home assistant devices from various technological giants such as Amazon and Google will assist the citizens in saving the consumption of electricity. Incorporating such intelligent assistants with IoT enabled lighting solutions will optimize the energy requirements and consumption.

· Color changing Lights: Intelligent lighting solutions are coming up in the smart lighting market with extraordinary features. One such feature is the capabilities of bulbs and tubes to change color according to customer needs. These bulbs can emit as much as 16 million colours at a given time as said by Forbes.

Global Smart Lighting Market: Competitive Landscape

Some of the key companies identified in the report that are currently holding majority shares in the automotive coatings market are Koninklijke Philips N.V. (Philips Lighting), Acuity Brands, Inc. , OSRAM Licht AG, Cree, Inc., General Electric Company, Hubbell Lighting Inc, Legrand, Honeywell International Inc., and Eaton Corporation plc.

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About IndustryARC: IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food and Beverages, Information Technology, and Life sciences and Healthcare.

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