Global Smart Lighting Market is expected to grow at a CAGR of 4.6% during the Forecast period (2016-2024)

New York, April 4, 2018 /PRSubmissionSite/According to Goldstein Research, growing energy saving concerns and emerging advanced technologies such as internet of things (IoT) and connected devices coupled with accelerating LED price erosion are the major factors driving the growth of smart lighting market. By 2020, there could be more than 50 billion devices and 7 billion people connected. This has tremendous implications for cities and businesses, over the next few years millions of lights will be converted to LED technology. Moreover, streetlights also constitute major share in the global smart lighting market. Global Smart Lighting Market Outlook also includes product development, technological advancements and investment strategies adopted by major market players in order to expand their business across the globe. China is expected to dominate the smart lighting market followed by Japan and South Korea due to high LED production and rapid smart lighting penetration in these countries.

Market Segmentation

On the basis of our in-depth analysis, global smart lighting market can be segmented as follows:

·        By Product Type

o   Smart Bulbs

o   Fixtures

o   Control Systems

§  Drivers and Ballasts 

§  Switches and Dimmers Actuators 

§  Sensors 

§  Microcontrollers

§  Transmitters and Receivers

·        By Light Source Type

o   Light Emitting Diode (LED)

o   Fluorescent Light

o   High Intensity Discharge Lamps

·        By Applications

o   Commercial

o   Industrial 

o   Residential

o   Architectural Lighting 

o   Others

·         Based on Geography

o   North America (U.S. & Canada) Smart Lighting Market {Market Share (%), Market Size(USD Billion)}

o   Latin America (Brazil, Mexico, Argentina & Rest of Latin America) Smart Lighting Market {Market Share (%), Market Size(USD Billion)}

o   Europe (The U.K., Germany, France, Italy, Spain, Poland, Sweden & RoE) Smart Lighting Market {Market Share (%), Market Size(USD Billion)}

o   Asia-Pacific (China, India, Japan, Singapore, South Korea, Australia, New Zealand, Rest of Asia) Smart Lighting Market {Market Share (%), Market Size(USD Billion)}

o   Middle East & Africa (GCC, South Africa, North Africa, RoMEA) Smart Lighting Market {Market Share (%), Market Size(USD Billion)}

“Global Smart Lighting Market Outlook 2024” contains detailed overview of the global smart lighting market. On the basis of our in-depth analysis, market can be segmented in terms of market segmentation by product type, by light source type and by applications.

Further, for the in-depth analysis, Global Smart Lighting Market Report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis. This market report also includes competitive outlook of some of the major players profiling of companies such as Philips Lighting, Osram Licht AG, Zumtobel Group, CREE Inc, General Electric Company, Digital Lumens, SemiLEDs Corporation etc.The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments. Overall, the report represents the global smart lighting market trends along with market forecast that will help industry consultants, technology providers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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