8/6/2021 Smart Lighting and Control Systems Market – Innovations & Competitive Analysis – Forecast – Facts and Trends

Smart Lighting and Control Systems Market –

Innovations & Competitive Analysis – Forecast
AUGUST 5, 2021 BY SURENDRA CHOUDHARY  ♥

The recent launch of ‘Lifx Beam’ smart light system has generated extensive ripples of development
across the lighting control market. The integration of this 12-inch rectangular lighting system with
Apple devices is a key value proposition. The global smart lighting and control systems market is
expected to grow at a stellar pace in the years to follow. The presence of a handsome industry for
smart lighting systems has emerged as a key prospect of market growth. The energy sector is
emphasizing on the need to induct LED and other energy-efficient lighting technologies.

The global energy crisis has reflected in changes across several industries and sectors. High-
consumption of traditional lighting systems is being shunned across the globe. Scientists believe
that the use of smart lighting systems could save huge amounts of energy that can be used to power
unelectrified areas. Furthermore, the responsiveness shown by the masses to heed to the new
standards of lighting across industrial and commercial units has also aided the growth of the global
smart lighting and control systems market.

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Energy consumption patterns of key industries have improved over the past decade. This owes to
the institution of improved practices at intrinsic levels. Some of these practices include increased
spending on smart lighting systems, information and education of employees, and regulatory
mechanisms on the operational end. All these moves have culminated into sizable growth
opportunities for the global smart lighting and control systems market.

Transparency Market Research (TMR) predicts that the global smart lighting and control systems
market would expand at a remarkable CAGR of 15.60% over the period between 2016 and 2024.
Furthermore, the smart lighting and control systems market would accumulate revenues worth
US$96.38 bn by 2024-end, rising up from a value of US$26.26 bn in 2015. The need for creating

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8/6/2021 Smart Lighting and Control Systems Market – Innovations & Competitive Analysis – Forecast – Facts and Trends

ambient environments in workplaces and other commercial spaces shall play an integral role in the
market’s growth.

Automation Technology to Aid Market Growth

The advent of internet of things (IoT) and automation technologies shall play a vital role in driving
market demand. Presence-sensing lights have been accredited as the most commendable technology
for saving energy. Hospitals and healthcare centres have been quick to induct presence sensing
lights in sitting areas and lounges. Furthermore, smart energy initiatives of governments have led
state-level authorities to use automated lighting systems in government buildings and public
premises.

The public sector has become a key recipient of smart technologies in recent times. The attitudes of
employees in the public sector have undergone positive changes. Furthermore, education and
information has played a vital role in popularising smart technologies. Hence, the global smart
lighting and control systems market is projected to become a lucrative haven in the years to come.

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Wholesome Adoption of Smart Technologies in Scandinavian Countries

Several regions have become driven toward inducting smart technologies across their key sectors.
Finland, Norway, Denmark, and Sweden have emerged as the most responsible countries in
managing the energy crisis. These countries have extensively adopted smart energy systems
including smart meters, smart lighting controls, and smart grids. Hence, the smart lighting and
control systems market across the Scandinavian countries shall drive market demand. Furthermore,
investments in smart energy sector have also grown in recent times.

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8/6/2021 Smart Lighting and Control Systems Market – Innovations & Competitive Analysis – Forecast – Facts and Trends

Some of the leading vendors operating in the global smart lighting and control systems market are
Koninklijke Philips N.V., Belkin International, Inc., Eaton Corporation, Elgato Systems, Lightwave
PLC, LiFI Labs, Inc., and Lutron Electronics Company, Inc.

The review is based on TMR’s report titled, “Smart Lighting and Control Systems Market (Lighting
Source – Fluorescent Lamps and Compact Fluorescent Lamps, High Intensity Discharge Lamps
(HID), and Light Emitting Diodes (LED); End-use Application – Residential, Commercial, Industrial
and Outdoor Lighting; Control System – Smartphone-enabled Technology, Daylight Sensing
Technology, and Proximity Sensing Technology) – Global Industry Analysis, Size, Share, Growth,
Trends, and Forecast 2016 – 2024”.

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