Global Smart Lighting Market Size study, by Component Outlook (Hardware, Software, Services) by Connectivity Outlook (Wired, Wireless) by Application Outlook (Indoor, Outlook) and Regional Forecasts 2022-2028Global Smart Lighting Market is valued approximately USD xx billion in 2021 and is anticipated to grow with a healthy growth rate of more than xx % over the forecast period 2022-2028. Smart Lighting is an advanced solution which helps to light your home. Smart LED bulbs contain software which connects to an application, smart home assistant or other smart accessory to automate lights or control them remotely, thus, eliminates the need for traditional wall switches. The increasing government initiatives for the use of LED based smart lights is expected to boost the market growth for the smart lighting market for the forecasted period 2021 to 2027. Furthermore, new developments in the technology are also excelling the market growth for the smart lighting market. In 2021, Hubbell Control Solutions a U.S based company launched a new and improved product NX Distributed Intelligence Lighting Control Panel (NXP2 Series) which centralizes connection points in an enclosure and it provide installer a friendly solution that helps in reducing time and costs to deploy code compliant lighting control. Also, with the growing smart offices and smart retail trends lead to the adoption & demand for Smart Lighting is likely to increase the market growth during the forecast period. However, high costs of smart LED are impeding the growth of the market over the forecast period of 2022-2028.

The key regions considered for the Global Smart Lighting Market study includes Asia Pacific, North America, Europe, Latin America and Rest of the World. Europe is leading region across the world in terms of market share owing to the growing use of indoor commercial smart lighting for garages, roadways, and parking. And continuous innovation and advancement in LED designs and technology is driving the demand for smart lighting market in the Europe region. Whereas, Asia-Pacific is anticipated to exhibit highest growth rate over the forecast period 2022-2028. Factors such as rising disposable income, rising economies and increasing investments in smart city projects would create lucrative growth prospects for the Smart Lighting market across Asia-Pacific region.

Major market player included in this report are:
Acuity Brands
Signify Holding
Honeywell International Inc.
Itron Inc (Streetlight Vision)
Ideal Industries, Inc.
Hfele GmbH & Co KG
Wipro Consumer Lighting
YEELIGHT
Sengled Optoelectronics Co., Ltd.
Verizon

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Component Outlook:
Hardware
Software
Services
By Connectivity Outlook:
Wired
Wireless
By Application Outlook:
Indoor
Outdoor
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2018, 2019, 2020
Base year - 2021
Forecast period - 2022 to 2028

Target Audience of the Global Smart Lighting Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors

Companies Mentioned

Acuity Brands
Signify Holding
Honeywell International Inc.
Itron Inc (Streetlight Vision)
Ideal Industries, Inc.
Hfele GmbH & Co KG
Wipro Consumer Lighting
YEELIGHT
Sengled Optoelectronics Co., Ltd.
Verizon