(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Sept. 24, 2024 (GLOBE NEWSWIRE) -- The "Saudi Arabia Smart LED Lighting Market, By Region, Competition, Forecast and Opportunities, 2019-2029F" report has been added to ResearchAndMarkets.com's offering.
Saudi Arabia's Smart LED Lighting market was valued at USD 892.03 million in 2023 and is anticipated to project robust growth in the forecast period with a CAGR of 13.94% through 2029, reaching USD 1.96 billion. The Saudi Arabia smart LED lighting market is experiencing rapid evolution, propelled by advancements in lighting technology and the country's growing focus on energy efficiency and smart infrastructure. Smart LED lighting systems offer significant benefits, including energy savings, enhanced control capabilities, and improved lighting quality.
As Saudi cities and industries increasingly adopt smart technologies to optimize energy consumption and operational efficiency, the demand for intelligent lighting solutions is on the rise. This dynamic market landscape presents opportunities for innovation and investment across sectors, aiming to transform urban landscapes and industrial facilities into interconnected, sustainable environments driven by smart lighting solutions.
Key Market Drivers
Energy Efficiency and Sustainability Technological Advancements and Connectivity Cost Savings and Long-Term Benefits
Key Market Challenges
Initial Cost and Return on Investment Technical Complexity and Integration Limited Infrastructure and Regulatory Framework
Key Market Trends
IoT Integration and Smart City Initiatives Human-Centric Lighting and Wellness
Regional Insights
Riyadh dominated the Saudi Arabia Smart LED Lighting market in 2023. Riyadh is the economic and financial hub of Saudi Arabia. The city's economic development, combined with increasing urbanization, drives the demand for smart LED lighting solutions. Riyadh, like the rest of Saudi Arabia, has been focusing on energy efficiency and sustainability. Smart LED lighting, which offers energy savings and remote control features, aligns with these initiatives. Riyadh has seen substantial urban development projects, including the construction of new smart cities and infrastructure. These projects often incorporate smart lighting systems, providing opportunities for smart LED lighting providers.
In Riyadh, the residential sector is a significant market for smart LED lighting. Homeowners are increasingly adopting smart lighting solutions for energy efficiency, convenience, and aesthetics. Government institutions and public infrastructure projects in Riyadh are adopting smart LED lighting to reduce energy consumption and enhance public spaces. This includes the installation of smart street lighting systems. Wireless technologies like Wi-Fi, Bluetooth, and Zigbee are commonly used in smart LED lighting systems in Riyadh, enabling remote control through smartphones and other devices.
Voice-controlled smart lighting systems, compatible with platforms like Amazon Alexa and Google Assistant, have gained popularity in Riyadh, enhancing user experience and convenience. Consumers in Riyadh often seek customizable lighting solutions that allow them to set the mood and ambiance according to their preferences, contributing to the demand for smart LED lighting.
The Smart LED Lighting Market in Riyadh is expected to continue growing, driven by urbanization, sustainability efforts, and the increasing awareness of the benefits of smart lighting. As technology advances and consumer preferences evolve, the market is likely to see further innovation and expansion.
Key Market Players
Signify N.V. (Signify Netherlands B.V.) ams-OSRAM AG Schneider Electric SE Legrand Group Leviton Manufacturing Co., Inc. Acuity Brands, Inc. Eaton Corporation plc Feilo Sylvania Group
Report Scope
In this report, the Saudi Arabia Smart LED Lighting Market has been segmented into the following categories:
By Products:
By Technology:
WIFI Hybrid Dali Bluetooth Zigbee
By Distribution:
By Region:
Riyadh Makkah Eastern Province Rest of Saudi Arabia
Key Attributes
| Report Attribute | Details |
| No. of Pages | 86 |
| Forecast Period | 2023-2029 |
| Estimated Market Value (USD) in 2023 | $0.89 Billion |
| Forecasted Market Value (USD) by 2029 | $1.96 Billion |
| Compound Annual Growth Rate | 13.9% |
| Regions Covered | Saudi Arabia |
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Attachment
Saudi Arabian Smart LED Lighting Market
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