Asia Pacific Smart Lighting Market Size Worth USD 11,159.4 Million By 2030 Astute Analytica

(MENAFN- EIN Presswire)

CHICAGO, UNITED STATES, January 30, 2023 /einpresswire.com / -- asia pacific smart lighting market is forecast to reach a valuation of US$ 11,159.4 million by 2030 from US$ 4,064.4 million in 2021 at a CAGR of 12.6% during the forecast period from 2022 to 2030.

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As customers strive to modernize their home lighting systems, the demand for smart lighting is growing. These systems can offer convenience and security advantages with being more effective and user-friendly. Additionally, because of its long lifespan and lower energy use, LED technology is growing in popularity among customers. Today's market offers a range of smart lighting devices, from conventional lightbulbs to fixtures that smartphone apps can operate.

The world is evolving towards a 'Smart World' with smart buildings, technology, and cities, among others, since the advent of AI and the Internet of Things (IoT). Through smartphones, tablets, or intelligent assistants like Alexa, smart lighting enables the control of both indoor and outdoor lighting. In addition, many industry participants in the Asia Pacific smart lighting market are thinking about integrating smart lighting technology with the Smart City Mission of many Asian nations, including Japan, China, and India.

Market Dynamics

Drivers

Growing Application of Home Automation

The growing use of automation technology in homes is one of the major factors driving the market for smart lighting. With the help of these technologies, homeowners can control their complete lighting setup from a single location, doing away with the need for additional hardware and wires. As more home appliances-including thermostats, air conditioners, and security cameras-become connected, this tendency is likely to persist. Additionally, there is significant interest in employing AI algorithms to enhance the functionality of smart lights.

Growing Adoption of Smart Lighting Solutions Under Smart City Projects

The creation of smart cities has become simple because of developments in AI, IoT, and machine learning. Urban areas have high energy demands because of their dense populations and numerous commercial buildings. By 2030, 40% of the population is likely to reside in urban areas. As a result, finding an energy-efficient and affordable lighting system is a major problem in these facilities. In this aspect, smart lighting aids in illuminating buildings, streets, and houses. Additionally, the data collected from these lighting systems' IoT connections could help with various things.

The government of the APAC region started the creation of smart cities. For instance, smart lighting systems are being implemented as part of Hong Kong's smart city initiative. Because of the data networks, sensors, and related digital facilities in such technologies, smart lampposts can improve city administration through the collecting of real-time data such as environment, weather, and traffic.

Trends

The smart lighting sector relies heavily on AI and machine learning because they enable more advanced automation and light management. They can aid in cost reduction and energy usage optimization.

Since LED lights outperform conventional incandescent or fluorescent lights in terms of performance and endurance, their adoption is growing in popularity in the smart lighting sector. Additionally, LEDs have minimal influence on the environment, making them a popular option for companies that value sustainability.

Sensors are being integrated into household equipment like lamps and switches to allow wireless communication between them. By employing smartphone apps or voice commands, consumers may manage their lighting from anywhere in the house.

Smart home ecosystems are gaining popularity owing to their ability to let homeowners control every aspect of their living space from a single location. This includes opening garage doors, managing security cameras, and operating cooling and heating systems.

Restraint

Increased Initial Expense and Frequent Failure of Connectivity

The primary reason why buyers hesitate to purchase smart lighting is that traditional lights are far less expensive than it. The reliance on wifi connectivity for smart lighting presents another difficulty. As a result, smart lights cannot be controlled when there is an issue with the internet connection. However, you may manually operate them and use standard switches to control them without the internet.


Segmentation Summary

Solution Segment

In 2021, the hardware segment dominated the APAC industry. Systems for lighting are furnished with dimmers, fixtures, sensors, and other components. The fact that these lighting systems are linked to digital devices like phones and voice assistants has contributed to the segment's rise in 2021. Whereas, the services segment will project the highest CAGR over the analysis years. The need for it is being pushed by the expanding use of smart lighting for data-driven reasons in significant locations.

Network Technology Segment

The wired connectivity segment acquired a share of 59% in 2021 and is likely to maintain its dominance from 2022 to 2030. Due to the use of smart lighting in commercial and industrial settings, there is a growing demand for wired connectivity in the market for smart lighting. The growth rate of wired technology will slow down as more lighting systems are linked to digital devices, while the growth rate of wireless technology will rise.

Light Source Segment

In 2021, the compact fluorescent lamps segment expects to grow by 42,951.1 Mn. The need for low-carbon emission and energy-saving solutions is driving the segment's development.

Contrary, the LED lamp segment is likely to exceed at the highest growth rate throughout the prognosis period. The rising customer choice for energy-efficient lighting solutions fuels the market.

Application Segment

In 2021, the indoor segment accounted for a significant share of 59.3% of the APAC smart lighting industry. Wherein we noticed a significant demand for the commercial segment products.

The commercial segment is expanding owing to the increasing use of smart lighting in commercial areas due to its effectiveness, low maintenance requirements, and security features. Additionally, the outdoor lighting segment will develop at the highest rate between 2022 and 2030.

Country Summary

China now contributes the most to the Asia Pacific market for smart lighting, and throughout the forecast period, it is also likely to develop at the highest CAGR of 14.5%. This is due to the expansion of smart city programs and the rapid advancement of technology. APAC's market for smart lighting will also expand quickly owing to the region's fast-paced economic development in China, India, Japan, and other APAC nations.

Smart lighting is being adopted quickly in Asia and the Pacific. For instance, the city-state of Singapore now has more than 170,000 cloud-connected street lighting that government authorities and citizens can control remotely. Energy use has decreased by 50% as a result of this deployment.

Cities in the Asia Pacific are implementing smart lighting systems. For instance, Tokyo has more than 100,000 app-controllable LED lighting installed throughout the city. Bangkok, Thailand, has installed about 1 Mn LED streetlights. These technologies not only use less energy, but they also aid in enhancing traffic flow and making the environment safer at night.

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Prominent Players
The notable companies operating in the Asia Pacific smart lighting market are:
Syska
Philips
Crompton
Halonix
Havells
Bajaj
Orient
Other Prominent Players

Segmentation Outline
The Asia Pacific smart lighting market segmentation focuses on Solution, Network Technology, Light Source, Installation Type, Application, and Country.
By Solution
Hardware
oBulbs
oTubes
oStrips
oCustom Lights
Lighting Controls
Switches
Dimmers
Sensors
Gateways
Drivers & Ballasts
Fixtures
Software Tools/Apps
Services
Consultation, Design & Integration
Lighting as a Service

By Network Technology
Wired
oDALI
oPowerline
oEthernet
oOthers
Wireless
oWi-Fi
oZigbee
oBLE
oZ-wave
oENOCEAN
o6LoWPAN
oOthers

By Light Source
Fluorescent Lamps (FL)
LED Lamps
Compact Fluorescent Lamps
High-Intensity Discharge Lamps (HID)
Others

By Installation Type
New Installation Types
Retrofit Installation Types

By Application
Indoor
Commercial
Retail
Hospitality
Offices
Hospital
Others
Residential
Industrial
Others
Residential
Industrial
Others
Outdoor
Architectural Lighting
Street Lighting
Public Infrastructure

By Country
China
India
Japan
South Korea
Australia & New Zealand
ASEAN
oSingapore
oMalaysia
oIndonesia
oThailand
oPhilippines
oVietnam
oRest of ASEAN
Rest of Asia Pacific

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About Astute Analytica
Astute Analytica is a global analytics and advisory company that has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in-depth, and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well-calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment-wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost-effective, value-added package from us, should you decide to engage with us.

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Astute Analytica
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