(MENAFN- GetNews) WiseGuyReports.Com Publish a New Market Research Report On –' Smart Light IoT Market Enabling Technologies, Applications, Standardization, Key Trends Forecasts 2026'.
Smart Light IoT Industry 2019
Description :-
The global smart light IoT market is expected to grow at a CAGR of 19.9 % during the forecast period. Smart light IoT provides benefits such as reduced maintenance cost, enhanced public safety, enhanced customer service, energy conservation, and others. The smart light is capable of changing its mode according to the situation. The smart light is installed with wireless systems to control and remotely track the original energy consumption of street lights, which enables the system to take energy conservation measures through power control and conditioning.
The smart street light controller embedded in smart light IoT, controls LED street lighting depending on the movement of objects on the street. Moreover, smart light IoT can be operated either automatically or manually. However, high implementation costs are obstructing the growth of smart light market in recent years. Moreover, the high intensity light emitted by smart lights have adverse effects on the human body, which in turn, is restraining the growth of the market.
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Key Players Analysis
Some key companies covered in the report are Koninklijke Philips NV, Cree Inc. Eaton Corporation, Wipro Consumer Lighting (Wipro Limited), General Electric Company, Legrand SA, Osram Licht AG, Lifi Labs Inc., Sensus (Xylem), Acuity Brands Lighting Inc., Syska LED Lights Pvt Limited, Synapse Wireless .
The emergence of Li-Fi technology and the increasing adoption of IoT technology are boosting the growth of the market during the forecast period. Further, increasing government initiatives taken for developing smart cities across the globe will create opportunities for the market in the coming years. While the industry is registering impressive double digit growth, high cost of smart lighting solutions as compared to traditional lighting alternatives is acting as a major constraint in the smart lighting market growth. Moreover, the security issues associated with the use of connected lighting and smart lighting systems will also hinder market growth
Based on technology, the wired segment dominated the market in 2018 and is expected to show similar trends in the coming years. The benefits offered by this technology such as high reliability and control over the lightning system are driving the demand for this segment.
By component, hardware was the leading segment with more than 78% market share in 2018. Driven demand for smart bulbs and connected luminaire in commercial and residential sectors has boosted the hardware sales in 2018. The hardware segment is integrated with various in-built features and monitored with the help of Bluetooth and WiFi. Technological integration has helped companies to penetrate in home automation market.
The Asia-Pacific region dominated the market in 2018 and is expected to retain its position in the coming years. The region accounted for 41% of global share, marked by well-planned initiative by government of China and South East Asia. Increasing government expenditure on smart cities is boosting the demand for smart light market in the region. According to the research, Asia Pacific smart city market stands at USD 39 billion. It is expected to further increase with more and more cities coming under the ambit of smart city initiatives. High number of such projects is expected to propel the market growth. China will continue to be the regional market leader in smart cities related technologies investment. Embedded internet technology across range of functionality such as lighting and monitoring is key aspect of smart city. Growth in the smart city will have positive impact on overall smart light IoT market. In addition to smart cities, smart light are also getting deployed across strategic importance places such as research and military establishments. The industry as a whole is driven by higher funding influx from government bodies. North America is another major market for the smart light IoT manufacturers and vendors. Home automation has played a pivotal role in overall demand for smart light devices in the region. According to the research, over 45% of houses in North America are equipped with smart light devices.
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Table Of Contents Major Key Points
Chapter 1 Preface
Chapter 2 Executive Summary
Chapter 3 Market Dynamics
Chapter 4 Global Smart Light IoT Market, by Type
Chapter 5 Global Smart Light IoT Market, by Technology
Chapter 6 Global Smart Light IoT Market, by Application
Chapter 7 Global Smart Light IoT Market, by Region
Chapter 8 Competitive Intelligence
Continued……
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