Growing Adoption of LED Supporting Smart Lighting Market

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The increasing deployment of advanced technologies, such as intelligent sensing and internet of things in lighting solutions, and the rising consumption of energy-efficient lighting owing to the surging consumer awareness on energy conservation are two of the key factors behind the growth of the smart lighting market.

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Smart Lighting Market

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2 Global Smart Lighting Market © PS Intelligence. All rights reserved The increasing deployment of advanced technologies such as intelligent sensing and internet of things in lighting solutions and the rising consumption of energy-efficient lighting owing to the surging consumer awareness on energy conservation are two of the key factors behind the growth of the smart lighting market. The market is predicted to grow at a CAGR of 20.0 during 2017 –2023 forecast period attaining a size of 27064.0 million by 2023. Smart lighting is an enhanced technology-enabled lighting system which is integrated with several sensors and wireless technology and is capable of lowering the energy consumption. Based on source the smart lighting market is categorized into fluorescent lamp light-emitting diode LED and high-intensity discharge lamp. Out of these during the historical period 2013 –2016 the LED category led the market in terms of revenue and it is predicted to maintain its lead during the forecast period. With the emergence of new technologies and advancements in smart and intelligent LED lighting solutions LED is expected to be exhibit the fastest growth during the forecast period. LED is a semiconductor device that emits light when electric current passes through it. Geographically during the 2013 –2016 period Europe dominated the smart lighting market in terms of revenue with a 35.0 share and it is predicted to continue leading it during the forecast period. Hence the growing adoption of smart lighting in various application areas and rapid development of smart cities are two of the factors playing a significant role in the healthy progress of the market.

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3 Global Smart Lighting Market © PS Intelligence. All rights reserved Kindly write to: enquirypsmarketresearch.com B-13 Sector – 2 Noida U.P. – 201301 INDIA Contact No: +91 120 4541 337 US/Canada Toll-Free: 1-888-778-7886 Disclaimer: PS Intelligence always keeps customers interest at the core while carrying out research activities. PS Intelligence ensures the reliability and accuracy of information and data provided in its market research publications. However the information in publications is subject to fluctuations as they are based on primary interviews of officials from various companies or organizations. PS Intelligence is not responsible for any incorrect data provided to us by the key industry players of the concerned domain. The information or analysis in PS Intelligence publications represents opinion based on research and should not be interpreted as statements of fact. The information in this report were believed to be correct at the time of publication but cannot be guaranteed. PS Intelligence does not endorse any product service or vendor depicted in its research publications. All intellectual property including trademarks and copyrights belong to their respective owners and may be protected by copyright. Under no circumstance may these be reproduced in any form without the prior written agreement of its owner. An order for market research report is intended for internal use of the company alone and not for disclosure to third parties or any publication in general. No service report or part thereof provided by PS Intelligence can be reproduced republished resold revealed distributed circulated or sublicensed in any medium or form now realized or hereafter become realized including and not limited to all forms of optical-based media magnetic electronic or digital without a written permission from PS Intelligence.

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