Global Smart Lighting Market 2018-2022| Increasing Adoption of LEDs to Drive Growth| Technavio
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Technavio has published a new market research report on the global smart lighting market from 2018-2022. (Graphic: Business Wire)
A key factor driving the growth of the market is the increasing adoption of LEDs. Smart lighting systems, which integrate LED lamps and luminaires save energy and offer information that can be used for energy analysis and maintenance. The lifespan of LEDs plays an important role in infrastructure such as airports. Thus, the adoption of LED lights for use in public infrastructure is high.
This market research report on the also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
In this report, Technavio highlights the advent of IoT as one of the key emerging trends in the global smart lighting market:
Global smart lighting market: Advent of IoT
The adoption of IoT in smart lighting solutions has been increasing owing to the developments in wired and wireless technologies and sensor technologies. Smart lighting solutions such as smart bulbs and luminaires provide a better degree of control and interactivity when compared with traditional lighting solutions.
“IoT facilitates smart lighting fixtures to generate data that can be used to minimize energy consumption. The development of smart device applications and cloud-connected lighting systems is accelerated because of the presence of IoT architectures. This is utilized by the vendors to develop next-generation IoT smart lighting solutions for homes and offices,” says a senior analyst at Technavio for research on lighting.
Global smart lighting market: Segmentation analysis
This market research report segments the global smart lighting market by application (commercial, residential, and public infrastructure) and geography (the Americas, APAC, and EMEA).
The commercial segment held the largest market share in 2017, accounting for over 55% of the market. This application segment is expected to dominate the global market throughout the forecast period.
EMEA led the market in 2017 with more than 41% of the market share, followed by the Americas and APAC, respectively. EMEA is expected to dominate the market throughout the period 2018-2022.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
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SOURCE: Technavio Research
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PUB: 09/04/2018 03:51 PM/DISC: 09/04/2018 03:51 PM