(MENAFN- GlobeNewsWire - Nasdaq) Smart Home Systems and government Incentives & Sustainability Targets Driving industry Growth at 17.58% CAGRDublin, Jan. 23, 2025 (GLOBE NEWSWIRE) -- The "Europe Smart Lighting market Forecast by Offering, Technology, Installation Type, Light Source, Application, End User, Country and Company Analysis 2025-2033" report has been added to ResearchAndMarkets.com's offering.
Europe's smart lighting market valued at USD 3.54 billion in the year of 2024, is expected to have a tremendous growth rate and reach USD 15.23 billion by 2033. The compound annual growth rate between 2025 and 2033 for the market will be a spectacular 17.58%. The increase in demand for energy-efficient lighting solutions, ever-evolving IoT technologies, and the adoption of smart home systems across Europe are driving the growth of the market.
In Europe, smart lighting usage has exploded rapidly because the region gives serious play to concerns about energy efficiency and green building initiatives. Consumers are increasingly adopting smart lighting solutions in attempts to curtail energy costs and reduce carbon footprints, largely due to government regulations and incentives for sustainable practices. In addition, the rise in popularity for smart home systems and automation technologies is driving adoption further- Germany, the UK, and France are among its key users. Businesses rely on smart lighting technology for optimal working practices and user experience, which has contributed to the growth of the European market.
Growth Drivers for the European Smart Lighting Market
Energy Efficiency-Driven Demand
Energy efficiency is an important driver of the smart lighting market in Europe. The strict regulations, including the European Green Deal and Energy Performance of Buildings Directive (EPBD), that have led to efforts toward reducing carbon emissions and energy consumption have given a boost to energy-efficient demands. Automated dimming, motion detection, and daylight harvesting are some of the features that allow smart lighting solutions to optimize energy usage in homes, offices, and public places. The increasing electricity cost with the rising awareness among consumers regarding sustainability is further forcing the adaptation of energy-efficient lighting, and smart lighting comes out as a preferred choice for the eco-concerned Europeans. According to EEA's early estimates, at primary energy consumption by end-users in the EU by 2023, that declined 3.8% against 2022, final energy consumption declined by 0.6%. Although the improvement is a trend away from historical trends in energy efficiency, substantial efforts are still in place toward attaining 2030 targets on energy efficiency, revised downwards in 2023.
Smart Home Systems Gain in Popularity
The increasing adoption of smart home systems in Europe has made an excellent impact on driving the smart lighting market. Smart consumers prefer integrated solutions that improve convenience, security, and lifestyle. Smart lighting, compatible with a voice assistant like Alexa and Google Assistant, seamlessly integrates into this ecosystem, enabling remote and automatic control. The techno-friendly population in Germany, the UK, and France is investing in smart home technologies. This trend is driven by innovation in IoT, better internet access, and rising disposable income, which are all encouraging smart lighting systems. In June 2023, Philips launched a few LED lights exclusively designed for outdoor utilization in gardens. This comes with strength to be used at multiple weather conditions. The LED outdoor lights comprise posts, spotlights, pedestals, and wall lights along with UltraEfficient Solar technology.
Government Incentives and Sustainability Targets
European governments encourage the use of smart lighting to succeed in energy-saving and sustainability targets. Huge financial incentives, subsidies, and tax rebates offered to energy-efficient technologies have driven residential and commercial users to switch to smart lighting. European Green Deal initiatives and smart city development schemes will give healthy demand for advanced lighting systems. These efforts grow the market while accelerating achievement of wider objectives for reducing greenhouse gas emissions and for environmental technologies and innovations, therefore making Europe a global leader in smart lighting adoption. The Council of the EU and the European Parliament reached an agreement on the provisional version of Net-Zero Industry Act (NZIA) on February 6, 2024, whereby the NZIA is likely to be adopted formally by the end of April 2024. Such measures are in addition to the European Critical Raw Materials Act that is supposed to be published soon. They complement the February 2023 "Green Deal Industrial Plan for the Net-Zero Age" (the Net Zero Plan). A part of the European Green Deal, the Net Zero Plan aims to make Europe the world's first climate-neutral continent by 2050.
France Smart Lighting Market
France is one of the key contributors to the European smart lighting market with a strong emphasis on energy efficiency and sustainability. Government policies like the Energy Transition for Green Growth Act ensure that energy-saving solutions, such as smart lighting, are adopted by many. Smart lighting solutions form a part of developments in city centers and infrastructures, consistent with France's smart city concept. Consumers begin to install smart lighting solutions in homes to increase convenience and cut down on energy consumption. With solid environmental policies to reduce carbon emissions, France continues lighting innovation through the residential and commercial sectors. Sept 2024, Govee can't wait to launch its latest products at the IFA 2024 exhibition with two latest flagship LED strip light - Govee Strip Light 2 Pro and Govee COB Strip Light Pro, in addition to many other smart lighting solutions.
Germany Smart Lighting Market
The German smart lighting market is driven by continuous advancements in technologies and strong manufacturing bases within the country. Germany gained popularity and led in the adoption of smart home systems and IoT integration. With government support for energy efficiency practices and incentives for eco-friendly technologies, market growth was spurred. The commercial sectors, mainly offices and retail spaces, started adopting smart lighting solutions for cost efficiency and sustainability. Germany's proactive approach to digital transformation and environmental responsibility significantly contributes to the European smart lighting landscape. Feb 2024 - Casambi, a worldwide leader in smart lighting control solutions, will unveil a new addition to its portfolio at Light + Building 2024.
Italy Smart Lighting Market
Italy's smart lighting market is developing at a rapid pace. Urban cities are seeing increasing smart city developments and, thus, smart lighting adoption. Cities like Milan and Rome are implementing smart lighting systems in public spaces with the aim of promoting energy efficiency and minimizing maintenance costs. The residential market expands due to consumer adoption of smart home technologies for better convenience and savings from energy use. Government initiatives towards making the country a more sustainable and energy-efficient one, coupled with consumer awareness, feed demand. Italy's long-standing desire to blend tradition with modern technology creates a vibrant and distinct smart lighting market. In Jan 2024, Italian brand Twinkly unveiled the Matrix light curtain, with the highest LED density in its class and smart LED technology with advanced monitoring of color temperature and brightness. Utilizing precisely arranged LEDs to offer fluid graphics, it rediscovers ambient lighting. Its slim design fits anywhere seamlessly, providing a wide versatile canvas for creativity.
Spain Smart Lighting Market
Smart lighting technologies are being applied by Spain as part of its smart city initiatives in cities such as Barcelona and Madrid. These systems are integral to the urban infrastructure, reducing energy consumption and enhancing public safety. The residential market is also escalating at a rapid pace due to rising demand for smart home solutions. Government incentives and energy-saving regulations further boost adoption. The smart lighting in Spain's increasingly popular tourism and hospitality sectors also supports customer experience improvement while keeping sustainability in mind, marking it as an important growth in the European market. March 2024: Telefonica Tech will digitalize the public lighting in Santiago de Compostela with Ferrovial and Endesa X. The initiative will utilize the intelligent lighting solution from Telefonica Tech to remotely control more than 10,000 LED luminaires equipped with NB-IoT connectivity.
United Kingdom Smart Lighting Market
The United Kingdom is a key player in the European smart lighting market. The growth of the smart lighting market is primarily fueled by smart home systems and energy-efficient solutions. The UK government supports sustainable technologies through financial incentives and policies to conserve energy. There has been increased uptake of smart lighting in both commercial and residential sectors. People are increasingly taking an interest in IoT-based solutions. It would see urban infrastructure projects and smart city initiatives stir up demand. Also, the UK's tech-inclined population and increasing awareness of sustainability are good enough to leave the country at the forefront of innovative smart lighting technology adoption. In June 2024, Signify, the leader in lighting, will launch the new Music Sync feature and expand its LED strip offerings for the WiZ smart lighting system, making it easy for users to sync their lights to music. The new products comprise the Smart Fairy Light, both for indoor and outdoor use; the Smart Dial Switch; and an outdoor wall light.
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