DUBLIN, June 4, 2015 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/p6bf8n/smart_lighting) has announced the addition of the "Smart Lighting Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020" report to their offering.
Honeywell International Inc., Legrand SA, Lutron Electronics Company Inc., Osram Licht AG and Royal Philips N.V lead the USD 23.42 billion market which is forecast to grow at a CAGR of 15.9% from 2014 to 2020
Smart lightings are offered by coupling different lighting types with intelligent lighting control technologies. Growing need for energy efficient and automated lighting systems is driving the growth of this market. Increasing awareness among the building owners about smart lighting systems for reducing energy consumption and monitoring lighting systems is further aiding the growth of this market.
The global smart lighting market is segmented by regions into North America, Europe, Asia Pacific (APAC) and Rest of the World (RoW). The growth of smart lighting market is primarily driven by the growing need for reduction in energy consumption cost by efficient lighting systems powered with intelligent lighting controls technologies. Smart lighting systems can substantially reduce energy consumption by incorporating various sensors including natural light sensors, occupancy sensors and motion sensors among others. It enables switching off lights in unoccupied rooms automatically and adjusting brightness depending on the availability of natural light. Moreover, development of sensors and control technologies in the field of smart lightings are further fueling the growth of this market. In addition, LED lamps replacing the traditional lightings are creating new opportunities for the existing and new players in the market.
In 2014, Europe led the smart lighting market and the region is expected to maintain its dominance throughout the forecast period. The adoption of smart lighting systems as energy efficient lighting solution is leading to the growth of smart lighting market in the region. North America followed Europe accounting for more than 35% of the global market revenue share. Asia pacific (APAC) and RoW are comparatively niche markets for smart lighting during the forecast period but are expected to grow significantly during the forecast period.
Scope of the Report
Smart Lighting Market: By Component
- Controllable Breakers
- Switch Actuators
- Dimmer Actuators
Smart Lighting Market: By Lighting Type
- LED Lamps
- Fluorescent Lamp
- Compact Fluorescent Lamp
- High Intensity Discharge Lamp
Smart Lighting Market: By Application
- Commercial & Industrial
- Outdoor Lighting
- Public & Government Buildings
- Acuity Brands, Inc.
- Digital Lumens, Inc.
- Encelium Technologies, Inc
- Honeywell International Inc.
- Legrand SA
- Lutron Electronics, Company, Inc.
- Osram Licht AG
- Royal Phillips N. V
- Zumtobel Group AG
For more information visit http://www.researchandmarkets.com/research/p6bf8n/smart_lighting
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SOURCE Research and Markets