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Smart Lighting Global Market Report 2022 - Market Size, Trends, And Global Forecast 2022-2026
The Global Smart Lighting Market Report by The Business Research Company covers the market drivers, size, major players and the impact of COVID-19 on the market
LONDON, GREATER LONDON, UK, June 9, 2022 /EINPresswire.com / -- According to 'Smart Lighting Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026' published by The Business Research Company, the smart lighting market size is expected grow from $11.03 billion in 2021 to $13.15 billion in 2022 at a compound annual growth rate (CAGR) of 19.3%. The growth in the market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The smart lighting global market is expected to reach $26.21 billion in 2026 at a CAGR of 18.8%. Government support in developed and developing economies drive the smart lighting market growth.
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The global smart lighting market consists of sales of smart lighting and related services by entities (organizations, sole traders and partnerships) that manufacture smart lighting products used in homes, hospitals, hotels and other types of buildings. Smart lighting is a lighting that can be controlled through an app that is installed in smartphones, tablets or through voice assistant devices such as Amazon Alexa, Google Assistant, Apple Siri and similar other devices.
Global Smart Lighting Market Trends
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.
Global Smart Lighting Market Segments
The global smart lighting market is segmented:
By Product: Smart Bulbs, Fixtures, Lighting Controls
By Application: Commercial, Government, Residential, Others
By Light Source: LED, HID, Others
By Communication Technology: Wired, Wireless
By Geography: The global smart lighting market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America accounts for the largest share.
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Smart Lighting Global Market Report 2022 is one of a series of new reports from The Business Research Company that provides smart lighting global market overviews, analyzes and smart lighting market forecast market size and growth, smart lighting global market share, smart lighting global market segments and geographies, smart lighting global market players, smart lighting market leading competitor revenues, profiles and market shares. The smart lighting global market report identifies top countries and segments for opportunities and strategies based on market trends and key competitors' approaches.
TBRC's Smart Lighting Global Market Report 2022 includes information on the following:
Data Segmentations: Market Size, Global, By Region and Country, Historic and Forecast, and Growth Rates for 60 Geographies
Key Market Players: Koninklijke Philips NV, Cree Inc., General Electricity Company, Acuity Brands Inc., Cisco Systems Inc., Eaton, Deco Lighting, Dialight, Honeywell Inc., and Osram Licht AG.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
And So Much More.
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About The Business Research Company?
The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets.
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