Dallas, TX / CRWE PRESS RELEASE / April 11, 2022 - According to the recent study the smart lighting market is projected to reach an estimated $21.7 billion by 2027 from $10.2 billion in 2021, at a CAGR of 13% from 2021 to 2027. Growth in this market is primarily driven by development of smart cities, increasing wireless technology, and increasing awareness towards energy saving.

Browse 103 figures / charts and 108 tables in this 195 -page report to understand trends, opportunities and forecast in smart lighting market by products (smart bulbs, fixtures, control systems), light source (light emitting diode, fluorescent lamps, high-intensity discharge lamps, and others), application (indoor lights and outdoor lights), communication technology (wired and wireless), and region (North America, Europe, Asia Pacific, and the Rest of the World).

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“Control system market is expected to remain the largest segment during the forecast period.”

Based on product, the smart lighting market is segmented into smart bulbs, fixtures, control systems. Lucintel forecasts that the control systems is expected to witness the largest segment over the forecast period due to growth in home automation and to improve energy efficiency and smart bulb is likely to experience the highest growth in the forecast period supported by growing demand for wireless technologies in smart cities.

“Europe will dominate the smart lighting market in near future”

Europe is expected to be the largest region due to the growing standard of living and increasing automation in Germany, France, the and United Kingdom building and construction industries and Asia Pacific is expected to witness highest growth over the forecast period because of increasing government focus towards the growth in infrastructure and development of smart home in China and India.

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Major players of smart lighting market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. CREE Inc, AMS, Signify N.V., Zumtobel Group, Savant Systems, Inc., SemiLEDs Corporation are among the major smart lighting providers.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/smart-lighting-market.aspx or helpdesk@lucintel.com