Global smart lighting market is projected to reach USD 80.9 Billion by 2030 - Roots Analysis

ALBANY, Calif. - March 25, 2020 - PRLog -- Key industry players and regional governments are working together to implement energy efficient lighting solutions to meet the goal of Paris Agreement 2015.

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Key Market Insights

Hardware segment is expected to capture about three-fifth of the overall market share by 2030
This segment is likely to be driven by the increased adoption of smart lighting lamps across the residential, commercial and industrial users. Further, smart LED lamps are anticipated to grow at a relatively faster rate (28.4%) during the forecasted period.

On cloud software is expected to grow at an estimated CAGR of 23.1% during the forecast period
Cloud based software solutions help the users to remotely monitor, update and maintain the lighting systems from their preferred devices (phone / laptop / tablet / desktop) at all times.

Wi-Fi is amongst the most popular technologies and is witnessing a relatively higher adoption
Wi-Fi based smart lighting products are popular for indoor lighting applications, such as for home, office, hospitals, and hotels. Ubiquity, ease of connection and user familiarity are some of the key factors that are likely to aid the growth of the Wi-Fi based smart lighting solutions.

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The USD 80.9 billion (by 2030) financial opportunity within the global smart lighting market has been analyzed across the following segments:

By Technology

• Wi-Fi
• Bluetooth
• ZigBee
• EnOcean
• Others

• Power Line Communication (PLC)
• Power Over Ethernet (POE)

By End Users

• Residential
• Commercial
• Industrial

By Geography

• North America

• US
• Canada

• Europe

• UK
• Germany
• Poland
• Rest of Europe

• Asia-Pacific

• India
• China
• Australia
• Rest of Asia-Pacific

• Rest of World (RoW)

• Africa
• Middle East
• Latin America

The research covers profiles of key players that offer smart lighting products:

• Signify (Philips Lighting)
• Eaton
• Honeywell
• Osram
• Cree
• GE Lighting
• Acuity Brand
• Zumbotel
• Hubbel
• Lutron Electronics

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Contact:
Gaurav Chaudhary
+1 (415) 800 3415
+44 (122) 391 1091
Gaurav.Chaudhary@rootsanalysis.com (mailto:Gaurav.Chaudhary@rootsanalysis.com?subject=Smart%20Lighting%20Market%3A%20Global%20Opportunity%20and%20Trend%20Analysis%2C%202019-2030%20-%20Press%20Release%20Query)