How big smart lighting market?

The global smart lighting market size was valued at USD 12.9 billion in 2021 and is projected to reach USD 90.71 billion by 2032, at a CAGR of 19.4% during the forecast period.

Which is the potential market for smart lighting in terms of the region?

Asia Pacific (APAC) is the largest market for smart lighting. APAC, being one of the fastest-growing markets for technology and lighting solutions, provides attractive opportunities for players offering smart lighting; as a result, many companies are expanding their footprint in this region. China, India, and Japan are among the key digital hubs in APAC that occupy the maximum share of the market of the region. The booming commercial and industrial spaces would further fuel the adoption of smart lighting in APAC. Furthermore, growth in end-use sectors and mounting investments from government bodies are also favoring the growth of the smart lighting market in the region.

Which are the leading players in the smart lighting business?

Major companies across the industry comprise Hubbell Incorporated, Bridgelux Inc., Legrand SA, Cree, Inc., Schneider Electric Software LLC, Lutron Electronics Co., Inc., Silver Spring Networks, and others.

Which are the major players in the smart lighting market?

Major players in the smart lighting market are Acuity Brands Inc., Honeywell International Inc, Zumtobel Group AG, Philips Hue, and others.

Smart Lighting Market Size, Share, Trends

Global Smart Lighting Market Size, By Component (Hardware, Software, and Services), By Connectivity (Wireless, Wired), By Installation Type (New Installation, Retrofit Installation), By Application, By Distribution Channel, By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032

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