Smartlighting is designed for energy efficiency, which is the prime factor
for market growth due to the need for reducing power consumption
costs. Smart lighting is replacing traditional lighting in
commercial, industrial, residential, and outdoor locations, and there
is an increasing demand for this kind of technologically-advanced
lighting in the market globally. Smart lighting technology uses
wireless controls, spot timing, automatic dimming, and adjusting
capability.
The
components of smart lighting include motion sensors, electronic
control units, and switches that are controllable. The sensors work
through assessment of the amount of daylight, occupants in a space,
and by detection of movements.
Smart
lighting utilizes efficiency and effectiveness through controlling
the lighting according to the needs and decreasing utilization costs.
The technology enables users to achieve more comfort and works
efficiently in home or office environments. The global smart lighting
market was valued at US$21 billion in 2013 and is growing at a CAGR
of 15.9% from 2014 to 2020 to be valued at US$56.62 billion in 2020.
The growth is predicted to be the highest in the residential sector,
though at present it is focused on the industrial and commercial
sectors.
Why
Smart Lighting Market is Set for Growth in Europe and North America
Geographically,
the global smart lighting market comprises North America, Europe,
Asia Pacific, and Rest of the World (RoW). Intelligent lighting
control technology, which enables automatic adjustment of brightness,
switching off lighting in unused areas, and use of sensors, is
improving market opportunities globally and creating newer areas of
market growth. Europe has led the smart lighting market in 2014 and
this trend is expected to continue. Next in the market hierarchy is
North America, with a 35% share of the global market.
The
main reason for this growth trend is the increased need for highly
efficient lighting systems that reduce energy consumption costs.
These intelligent light technology systems incorporate the use of LED
lamps and a variety of sensors that have the capability of adjusting
brightness according to the amount of natural light available and
enabling automatic switching off lights in unoccupied spaces.
Newer
Market Segments for Smart Lighting That Are Emerging Globally
Asia
Pacific and Rest of the World are comparatively newer market segments
that are emerging in the global smart lighting market. Increase in
disposable incomes and the value of saving costs for energy can be
key factors that drive the market for smart lighting in countries
such as India and China.
Smart
lighting components include relays, sensors, switch actuators, dimmer
actuators, controllable breakers and others. The lighting includes
automated lighting systems that improve the overall lighting
experience for users. The choices in lighting systems are many and
among these are LED lamps, fluorescent lamps, compact fluorescent
lamps, high intensity discharge lamps, and other varieties.
Compact
fluorescent lamps had a major market share in 2014, but LED lamps are
expected to grow during the forecast period. Due to growing consumer
awareness about the benefits of smart lighting and LED-based
technological advances, the market for these smart lighting
components has a high growth potential.
Why
Smart Lighting Will Show Increased Growth in Current and Future
Markets
Smart
lighting has application in market segments that include the
industrial and residential sectors, outdoor lighting, and public and
government buildings, among others. With big market players such as
Samsung and Royal Philips launching their LED-based lighting aimed at
the residential application segment, the growth rate of the market is
set to be high in the next few years.
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