Global Smart LED Lighting Market by Technology (Dali, Bluetooth, Zigbee, WiFi, Hybrid), by Product (Wired, Wireless) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

In 2018, the global smart LED lighting market was valued at USD 7.32 Billion. The market is expected to benefit from rising awareness about technologies like wireless optical networking data transmission, lighting fidelity, and Internet of Things. The adoption of smart LED bulbs has increased over the years due to growing demand for energy-efficient lighting systems.

There are a variety of smart lights available, from 0.1 to 100 Watts. These smart lights offer features such as automatic on/off control and Bluetooth connectivity. These products are expected to grow in popularity as an easy way to control lighting within your home or office. Smart LED lights are also being adopted because of rising awareness among consumers about the importance of energy conservation.

Smart city lighting projects are being adopted by governments to help save money and energy. According to the U.S Energy Information Administration, lighting accounts for around 39% of all energy costs. Smart LED lighting can reduce energy costs by up to 90% in offices and industrial buildings, according to research. This energy-saving solution has been adopted by many cities as it is safe, environmentally friendly, and useful for data monitoring.

The Chicago Department of Transportation announced in August 2018 that it would implement the Streetlight Modernizing Program. This program aims to replace 270,000 street lights with LED bulbs within the next four years. The governing body of Barcelona has installed smart LED lampposts throughout the city since 2013. These lights are equipped with motion sensors to detect vehicles and turn off automatically when they are empty.

Product Insights

In 2018, the revenue from wired smart LED lighting was USD 6.02 trillion. Because of their low installation and maintenance costs, these products are primarily used by corporations, industries, and government agencies. These products are expected to have a lower failure rate, which will bode well for product demand in the future.

The wireless product segment is expected grow at a 26.6% CAGR between 2019 and 2025. Smartphones allow users to remotely access smart lights. Most of these devices can be connected via Bluetooth or WiFi. Consumers are increasingly spending more on fashionable lifestyles, which is leading them to purchase wireless voice-recognised smart electronic gadgets. In the coming years, new opportunities will be opened by product innovation and advancement in new technologies like Bluetooth.

Technology Insights

In 2018, hybrid technology enabled lighting generated revenue of USD 2.28 trillion. These lighting products are equipped with smart, programmed features that automatically adjust the intensity of light to meet specific requirements. It can be found in most corporate buildings in Europe's developed markets. These products can also be used to increase the light intensity of greenhouse farms. They allow farmers to set higher temperatures inside the greenhouse and provide a longer time for crops. PROMINENT installed hybrid smart LED lighting and Plessey Semiconductors in September 2017 to increase their greenhouse tomato production.

The Zigbee segment will experience the highest CAGR of 32.3% between 2019 and 2025. Zigbee technology allows smart lighting products to be combined into one portable unit. This allows for controlling fans, TV sets, air conditioners and electronic doors. New products are being introduced by companies using Zigbee technology. This is expected to boost the segment's growth. SAMSUNG, for example, launched Smart Bulb in June 2019 with Zigbee 3.0 technology that is compatible with Google Assistant, Amazon Alexa and Samsung's Bixby Voice Assistants.

Distribution Channel Insights

With a total revenue of USD 5.80billion in 2018, the largest market was offline distribution. Most consumers prefer to purchase products from offline electric shops as they are able to assist with product installation and support after-service. Smart light manufacturers are preferred by manufacturing companies, government agencies, and corporate companies. This will be a major driver of segment growth.

The fastest growing segment in the online market is expected to be online, at a CAGR of 30.1% between 2019 and 2025. The growth is being driven by the increasing number of online shops offering competitive pricing. Easy installation makes it easy for consumers to shop online. Amazon, AliExpress and Flipkart are some of the most important online suppliers.

Regional Insights

Europe held the largest share of smart LED lighting in 2018, with more than 35%. The growth is expected to continue due to rising home decoration and awareness regarding the aesthetic appeal of the products in key markets such as France, Germany, and the U.K. Additionally, the growth of public and private sectors is being driven by rising spending on smart lighting controls. These include Lighting Europe in Belgium and the Lighting Industry Association (LIA), in the U.K.

North America will grow at a 28.4% CAGR between 2019 and 2025, according to estimates. In the U.S. and Canada, lighting costs in commercial buildings are comparatively high. Smart lighting is also a common option for profit-oriented buyers to lower their electricity costs.

Market Share Insights & Key Companies

Cree Inc., Eaton Corporation, Koninklijke Philips NV, ABB Limited, Wipro Limited, SSK Group, TVILIGHT B.V., Digital Lumens, Inc., Acuity Brands Inc., Bridgelux, Inc., and OSRAM Licht AG are some of the major players. To gain more market share, companies are investing in product development and innovation. YEELIGHT, a Chinese manufacturer, announced its entry into India in October 2018 with new product launches, including smart lamps, smart bulbs, light strips, and smart lamps. In India, Philips Lighting also announced plans to open 20 experience centers to meet domestic product demand.

Smart LED Lighting Market Report Scope

The Report Covers Certain Segments

This report predicts revenue growth at the global, regional and country level and offers an analysis of industry trends for each sub-segment from 2015 to 2025. Grand View Research segmented the global smart lighting market report based on product, technology, distribution channel and region.

• Product Outlook (Revenue USD Million, 2015-2025)

  • Wired

  • Wireless

• Technology Outlook (Revenue USD Million, 2015-2025)

  • Hybrid

  • Dali

  • WiFi

  • Bluetooth

  • Zigbee

• Distribution Channel Outlook (Revenue USD Million, 2015-2025)

  • Online

  • Offline

• Regional Outlook (Revenue USD Million, 2015-2025)

  • North America

    • The U.S.

  • Europe

    • The U.K.

    • Germany

  • Asia Pacific

    • China

    • India

  • Central & South America

    • Brazil

  • Middle East & Africa

    • South Africa

These are the most frequently asked questions about this report

b. Global smart LED lighting market was valued at USD 9.08 Billion in 2019, and is forecast to grow to USD 11.29 Billion by 2020.

b. Global smart LED lighting market will grow at a compound annual rate of 24.6% between 2019 and 2025, to reach USD 34.17 trillion by 2025.

b. With a 36.2% share in 2019, Europe was the market leader in smart LED lighting. This can be attributed to the increasing adoption of luxury home décor, as well as a conscious regarding the aesthetic appeal of products in key markets such Germany, France, and the U.K.

b. Cree Inc., Eaton Corporation, Koninklijke Philips NV, ABB Limited, Wipro Limited, SSK Group, TVILIGHT B.V., Digital Lumens, Inc., Acuity Brands Inc., Bridgelux, Inc., and OSRAM Licht AG are some of the key players in smart LED lighting.

b. Market growth is being driven by increasing awareness about technologies like wireless optical networking data transmission, lightfidelity and Internet of Things (IoT), as well as growing demand for energy efficient lighting systems.

Up Market Research published a new report titled “Smart LED Lighting Market research report which is segmented by Technology (Dali, Bluetooth, Zigbee, WiFi, Hybrid), by Product (Wired, Wireless), By Players/Companies Cree Inc; Eaton Corporation; Koninklijke Philips NV; ABB Limited; Wipro Limited; SSK Group; TVILIGHT BV; Digital Lumens, Inc; and OSRAM Licht AG, Inc; Acuity Brands Inc; Bridgelux”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Smart LED Lighting Market Report Segments:

The market is segmented by Technology (Dali, Bluetooth, Zigbee, WiFi, Hybrid), by Product (Wired, Wireless).

Smart LED Lighting Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Smart LED Lighting Market

Overview of the regional outlook of the Smart LED Lighting Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Smart LED Lighting Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Smart LED Lighting Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Dali

                2. Bluetooth

                3. Zigbee

                4. WiFi

                5. Hybrid

                1. Wired

                2. Wireless

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Smart LED Lighting Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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• Correctly Positioning New Products
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Reasons to Purchase the Smart LED Lighting Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.