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(IT-NEWSWIRE.COM, October 16, 2019 ) Market Overview
Smart Lighting is a technology primarily designed for energy efficiency. It usually operated in such a way that the consumer will be able to control the lighting installed using an application on his/her smartphone. Most of these apps provide options which are called light recipes which are basically a host of different palettes that are suitable for a particular environment, say watching movie, or cooking, or reading.
A general smart lighting network would generally use a mesh network. This means each smart bulb is wirelessly connected to its nearest neighbor. This entire network can be controlled by a hub that operates by plugging into a router. Recent developments have also shown smart bulbs can include complex technical components like motion sensors.
Market Dynamics
The Global Smart Lighting Market is primarily driven by the increasing need for energy efficiency, and therefore favorable government policies that are aimed at promoting their use. This aside, the rapid rate of urbanization in has directly contributed to the increase in demand as the increase in construction activities implies a rise in the number of residential buildings, and commercial establishments favors the growth of the market. India, a one of the fastest developing countries in the world, has seen its urban population rise from ~31% in 2010, to ~34% in 2017, according to the world bank. Another driver for this market is the shift in preferences of the consumers from traditional incandescent lamps to other energy efficient alternatives like LED bulbs, fluorescent bulbs etc.
The market, however, is hindered by factors such as a lack of awareness among people, and a high initial setup cost.
Market Segmentation
By Product Type, the Global Smart Lighting Market is segmented into Wired and Wireless lighting systems. Although the wireless lights segment is expected to show a healthy growth rate, the wired lighting segment will be dominating the market as these products are more reliable and give the end user more control. Nevertheless, the future seems to be of the wireless lighting systems as technological progress is expected to pave the way for their advancement.
By Lighting Source, the Global Smart Lighting Market is segmented into LED Lamps, Fluorescent Lamps, and Incandescent Lamps, and others. The LED lighting segment is forecasted to dominate this segment, capturing a high market share. This is primarily because the LED lighting systems have emerged as an energy efficient and cost-effective alternative. This is the reason LED Lighting is endorsed by governments across the world. Philips Lighting, a major competitor, for example, saw a whopping 10% increase in their LED lighting share in total sales, from 55% to 65%.
By Application, the Global Smart Lighting Market is segmented into lights for Indoor Use and Outdoor Use. The indoor smart lights dominate this segment owing to the increased adoption of such connected lighting systems in residential complexes, and commercial buildings. This, coupled with the fact that there is an increasing awareness on the customizations and power saving capabilities of smart lighting.
Be that as it may, the outdoor lighting segment is forecasted to be have the highest growth, with many countries across the world undertaking projects to revamp their domestic street-lighting systems. Street lights which can switch on/off based on the time of the day, level of traffic and so on are the need of the hour.
Geographical Analysis
By geography, the global Smart Lighting market is segmented into North America, Asia-Pacific (APAC), Europe, South America, and Middle East and Africa (MEA).
The Global Smart Lighting Market is presently concentrated by the European region, and it is expected to maintain the lead in the forecast period. The primary reason for this is the high deployment of smart lighting systems in residential areas, commercial office spaces, and government policies promoting their usage. According to Clasp, an NGO which works to improve the energy and environmental performance of everyday appliances, the EU was leading the world in phasing out halogen lamps, and promoting cost effective alternatives.
The region expected to show fastest growth, however, is the APAC region, due to focused government efforts to encourage the usage of energy efficient lights. India, a growing market for the Smart Lighting Systems, has implemented the Ujala programme, wherein the state aims at replacing over 720 million traditional bulbs with LED ones. This apart, the Chinese LED market was growing faster than the rest of the world at 15.3% in 2015, according to the Department of Energy in the United States.
Competitive Analysis
Key players are adopting strategies such as investing in R&D, new product launches, expansion in Technology to stand out as strong competitors in the market. Global Smart Lighting is a competitive market with the presence of various global and regional players in the market. The major players Digital lumens, Legrand S.A, Acuity brands INC, Silver Spring Inc., and Zumtobel. Other key players in the market include Lutron electronics, Encelium technologies, Osram GmbH, Royal Philips, and Honeywell.
In February 2019, Monster is adapting to the change and is going to introduce their range of smart lighting. The new lighting will add to the line of power accessories, Bluetooth speakers, and premium headphones and will be known as Monster Illuminessence. It is a colour-changing LED lighting system that can be used in different kinds of environment. The product portfolio comprises of different sizes and configurations for small to bigger spaces. Without complicated set-up or exorbitant costs, Monster smart lighting provides everyone, with the opportunity to enjoy and create a visually alluring and high-quality LED light experience.
In January 2019, Ring, whose mission is to reduce crime in neighbourhoods, announced at CES 2019 its newest home security product line, Ring Smart Lighting was available at Ring.com and Amazon.com and has begun shipping from March 6, 2019. Ring Smart Lighting creates an affordable, easy-to-install network of outdoor, motion-sensing lights that work together to illuminate the dark areas around the home.
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