(MENAFN- IMARC Group)
The latest report by IMARC Group, titled“ North America Smart Lighting market : industry Trends, Share, Size, Growth, Opportunity, and Forecast 2024-2032 “, offers a comprehensive analysis of the industry, which comprises insights into the market. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The North America smart lighting market size reached
US$ 6.0 Billion
in 2023. Looking forward, IMARC Group expects the market to reach
US$ 22.9 Billion
by 2032, exhibiting a growth rate
(CAGR) of 15.5%
during 2024-2032.
North America Smart Lighting Market Overview:
Smart lighting encompasses advanced lighting technology designed for energy efficiency, convenience, and enhanced functionality. This innovative solution includes various products such as LED bulbs, luminaires, and lighting controls that can be operated remotely via apps, voice commands, or through automation systems.
Smart lighting systems offer adjustable color temperatures and brightness levels, catering to different environments and preferences. The advantages of smart lighting are manifold, including significant energy savings, improved security through motion detection lighting, extended lifespan of lighting fixtures, and the ability to create personalized lighting scenes. Additionally, smart lighting enhances user experience by integrating with smart home ecosystems, contributing to a more connected and intelligent living environment.
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North America Smart Lighting Market Trends:
The North America market is majorly driven by the accelerating adoption of smart homes and the growing emphasis on energy-efficient solutions. Along with this, technological advancements in IoT (Internet of Things) and wireless communication technologies have facilitated the seamless integration of smart lighting systems with other smart devices, enhancing user convenience and energy management capabilities.
Moreover, government initiatives aimed at reducing energy consumption and promoting smart city projects are bolstering the market growth. Apart from this, the rising awareness of environmental sustainability and the need for cost-effective lighting solutions in commercial, residential, and industrial sectors also contribute to the expanding market. In addition, the COVID-19 pandemic has accelerated the demand for contactless and automated technologies, including smart lighting, reinforcing its adoption across North America. These trends, coupled with ongoing innovations in lighting technology, are creating a positive market outlook.
Key Market Segmentation:
Market by Offering:
Hardware Lights and Luminaires Lighting Controls
Software Services Design and Engineering Installation Post-Installation
Market by Communication Technology:
Wired Technology Wireless Technology
Market by Installation Type:
New Installation Retrofit Installation
Market by Light Source:
LED Lamps Fluorescent Lamps Compact Fluorescent Lamps High Intensity Discharge Lamps Others
Market by Application:
Commercial Residential Public Infrastructure Others
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Key highlights of the Report:
Market Performance (2018-2023) Market Outlook (2024-2032) COVID-19 Impact on the Market Porter's Five Forces Analysis Strategic Recommendations Historical, Current and Future Market Trends Market Drivers and Success Factors SWOT Analysis Structure of the Market Value Chain Analysis Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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