Smart LED Lighting Market by Products (Wireless and Wired), Technology (WIFI, Hybrid, Dali, Bluetooth, and Zigbee), Distribution (Online and Offline), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028
The global smart LED lighting market was valued at USD 7.30 million in 2020 and is expected to reach USD 34.15 million by 2028, expanding at a CAGR of 24.4 % during the forecast period, 2021 – 2028. The growth of the market is attributed to growing awareness about technologies such as light fidelity, Internet of Things (IoT), and wireless optical networking.
Smart LED lighting is a lighting technology, which is manufactured for energy-efficiency, security, and convenience. It includes automated controls and high efficiency fixtures that are modified, based on situations such as daylight availability.
Market Trends, Drivers, Restraints, and Opportunities:
- Increasing awareness about the significance of energy conservation is inspiring the consumers to opt for smart LED lights.
- Governments are approving smart city lighting projects to save money and energy this in turn is driving the market.
- Smart LED lights have features such as automatic on/off control, voice control, Bluetooth connectivity, and in-built WIFI technology. These features are expected to boost the market.
- Increasing acceptance of these products, owing to hassle-free solutions to regulate business and home lighting is expected to fuel the market.
Scope of the Report:
The report on the global smart LED lighting market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Global Smart LED Lighting Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2020 |
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Historic Data |
2018–2019 |
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Forecast Period |
2021–2028 |
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Segmentation |
Products (Wireless and Wired), Technology (WIFI, Hybrid, Dali, Bluetooth, and Zigbee), Distribution (Online and Offline), and Regions |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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Key Players Covered in the Report |
Koninklijke Philips NV, Cree Inc., ABB Limited, Eaton Corporation, TVILIGHT B.V., Wipro Limited, Digital Lumens, Inc., SSK Group, Bridgelux, , OSRAM Licht AG, and Acuity Brands Inc. |
Market Segment Insights:
The wired segment held a major market share of more than 50% in 2018
Based on products, the global smart LED lighting market is bifurcated into wireless and wired. The wired segment is anticipated to expand at a rapid pace during the forecast period. Wired appliances are mainly used in industries, government organizations, and corporate offices, due to low maintenance and installation costs as compared to the wireless segment. Decreased probability of failure related to these products is estimated to boost the demand for them during the forecast period.
The wireless segment is projected to witness a substantial CAGR of 26.4% during the forecast period. Consumers can operate smart lights remotely through phones or remotes. Most of these products are linked through WIFI and Bluetooth. Product advancement and development in new technology including Bluetooth is projected to provide new opportunities in the next few years. Rising disposal income and modern lifestyles are inducing consumers to use wireless smart electronic devices.
The hybrid technology segment is expected to expand at a substantial CAGR during the forecast period
On the basis of technology, the global smart LED lighting market is segregated as WIFI, Hybrid, Dali, Bluetooth, and Zigbee. Hybrid products have mechanized and programmed smart features which regulate the intensity of lights as per necessity. These products are helpful for green-house farms, as they let farmers offer high intensity of light for the crops with variable heat that can be managed inside the greenhouse. The zigbee segment is estimated to expand at a rapid pace during the forecast period. Lighting products with Zigbee technology can be integrated into a single unit that controls fans, ACs, security cameras, TVs, electronic doors, and other electronic devices. Companies are launching new products with Zigbee technology, which is anticipated to boost the segment growth.
The offline segment held a key market share of the total revenue in 2018
In terms of distribution, the global smart LED lighting market is fragmented as online and offline. The offline segment is attributed to expand at a substantial CAGR during the forecast period. Most consumers prefer buying products from offline stores, so that they get after-sales service and support. The online segment is expected to expand at a rapid CAGR of 29.9 % during the forecast period. Increasing number of online stores along with attractive offers is boosting the segment. Online suppliers provide easy installation, thus attracting consumers.
Europe held a key market share of more than 35% of the total revenue in 2018
Based on regions, the global smart LED lighting market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Europe is expected to emerge as a rapidly growing region in this segment. Increasing adoption of innovative home decorations along with awareness about visual appearance of the product particularly in major markets such as the UK., France, and Germany is projected to drive the demand for smart LED lights.
The market in North America is anticipated to expand at a rapid CAGR of 28.2% during the forecast period. Consumers in profit-oriented organizations opt for smart lighting to decrease their electricity costs.
2. Assumptions and Acronyms Used
3. Research Methodology
4. Smart LED Lighting Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Smart LED Lighting Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Smart LED Lighting Market - Supply Chain
4.5. Global Smart LED Lighting Market Forecast
4.5.1. Smart LED Lighting Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Smart LED Lighting Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Smart LED Lighting Market Absolute $ Opportunity
5. Global Smart LED Lighting Market Analysis and Forecast by Types
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Types
5.2.2. Y-o-Y Growth Projections by Types
5.3. Smart LED Lighting Market Size and Volume Forecast by Types
5.3.1. Wireless
5.3.2. Wired
5.4. Absolute $ Opportunity Assessment by Types
5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Smart LED Lighting Market Analysis and Forecast by Region
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Region
6.2.2. Y-o-Y Growth Projections by Region
6.3. Smart LED Lighting Market Size and Volume Forecast by Region
6.3.1. North America
6.3.2. Latin America
6.3.3. Europe
6.3.4. Asia Pacific
6.3.5. Middle East and Africa (MEA)
6.4. Absolute $ Opportunity Assessment by Region
6.5. Market Attractiveness/Growth Potential Analysis by Region
6.6. Global Smart LED Lighting Demand Share Forecast, 2019-2026
7. North America Smart LED Lighting Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.2. North America Smart LED Lighting Market Size and Volume Forecast by Country
7.2.1. U.S.
7.2.2. Canada
7.3. Absolute $ Opportunity Assessment by Country
7.4. North America Smart LED Lighting Market Size and Volume Forecast by Types
7.4.1. Wireless
7.4.2. Wired
7.5. Basis Point Share (BPS) Analysis by Types
7.6. Y-o-Y Growth Projections by Types
7.7. Market Attractiveness/Growth Potential Analysis
7.7.1. By Country
7.7.2. By Product Type
7.7.3. By Application
7.8. North America Smart LED Lighting Demand Share Forecast, 2019-2026
8. Latin America Smart LED Lighting Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Latin America Average Pricing Analysis
8.2. Latin America Smart LED Lighting Market Size and Volume Forecast by Country
8.2.1. Brazil
8.2.2. Mexico
8.2.3. Rest of Latin America
8.3. Absolute $ Opportunity Assessment by Country
8.4. Latin America Smart LED Lighting Market Size and Volume Forecast by Types
8.4.1. Wireless
8.4.2. Wired
8.5. Basis Point Share (BPS) Analysis by Types
8.6. Y-o-Y Growth Projections by Types
8.7. Market Attractiveness/Growth Potential Analysis
8.7.1. By Country
8.7.2. By Product Type
8.7.3. By Application
8.8. Latin America Smart LED Lighting Demand Share Forecast, 2019-2026
9. Europe Smart LED Lighting Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Europe Average Pricing Analysis
9.2. Europe Smart LED Lighting Market Size and Volume Forecast by Country
9.2.1. Germany
9.2.2. France
9.2.3. Italy
9.2.4. U.K.
9.2.5. Spain
9.2.6. Russia
9.2.7. Rest of Europe
9.3. Absolute $ Opportunity Assessment by Country
9.4. Europe Smart LED Lighting Market Size and Volume Forecast by Types
9.4.1. Wireless
9.4.2. Wired
9.5. Basis Point Share (BPS) Analysis by Types
9.6. Y-o-Y Growth Projections by Types
9.7. Market Attractiveness/Growth Potential Analysis
9.7.1. By Country
9.7.2. By Product Type
9.7.3. By Application
9.8. Europe Smart LED Lighting Demand Share Forecast, 2019-2026
10. Asia Pacific Smart LED Lighting Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Asia Pacific Average Pricing Analysis
10.2. Asia Pacific Smart LED Lighting Market Size and Volume Forecast by Country
10.2.1. China
10.2.2. Japan
10.2.3. South Korea
10.2.4. India
10.2.5. Australia
10.2.6. Rest of Asia Pacific (APAC)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Asia Pacific Smart LED Lighting Market Size and Volume Forecast by Types
10.4.1. Wireless
10.4.2. Wired
10.5. Basis Point Share (BPS) Analysis by Types
10.6. Y-o-Y Growth Projections by Types
10.7. Market Attractiveness/Growth Potential Analysis
10.7.1. By Country
10.7.2. By Product Type
10.7.3. By Application
10.8. Asia Pacific Smart LED Lighting Demand Share Forecast, 2019-2026
11. Middle East & Africa Smart LED Lighting Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Middle East & Africa Average Pricing Analysis
11.2. Middle East & Africa Smart LED Lighting Market Size and Volume Forecast by Country
11.2.1. Saudi Arabia
11.2.2. South Africa
11.2.3. UAE
11.2.4. Rest of Middle East & Africa (MEA)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Middle East & Africa Smart LED Lighting Market Size and Volume Forecast by Types
11.4.1. Wireless
11.4.2. Wired
11.5. Basis Point Share (BPS) Analysis by Types
11.6. Y-o-Y Growth Projections by Types
11.7. Market Attractiveness/Growth Potential Analysis
11.7.1. By Country
11.7.2. By Product Type
11.7.3. By Application
11.8. Middle East & Africa Smart LED Lighting Demand Share Forecast, 2019-2026
12. Competition Landscape
12.1. Global Smart LED Lighting Market: Market Share Analysis
12.2. Smart LED Lighting Distributors and Customers
12.3. Smart LED Lighting Market: Competitive Dashboard
12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
12.4.1. Koninklijke Philips NV
12.4.2. Cree Inc.
12.4.3. ABB Limited
12.4.4. Eaton Corporation
12.4.5. TVILIGHT B.V.
12.4.6. Wipro Limited
12.4.7. Digital Lumens, Inc.
12.4.8. SSK Group
12.4.9. Bridgelux
12.4.10. OSRAM Licht AG
12.4.11. Acuity Brands Inc.
The global smart LED lighting market has been segmented on the basis of
Products
- Wireless
- Wired
- WIFI
- Hybrid
- Dali
- Bluetooth
- Zigbee
- Online
- Offline
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
- Koninklijke Philips NV
- Cree Inc.
- ABB Limited
- Eaton Corporation
- TVILIGHT B.V.
- Wipro Limited
- Digital Lumens, Inc.
- SSK Group
- Bridgelux
- OSRAM Licht AG
- Acuity Brands Inc.
Key players in the global smart LED lighting market include Koninklijke Philips NV, Cree Inc., ABB Limited, Eaton Corporation, TVILIGHT B.V., Wipro Limited, Digital Lumens, Inc., SSK Group, Bridgelux, OSRAM Licht AG, and Acuity Brands Inc. Manufacturers are investing in product development and innovation and launching products in emerging countries to access a large market share.
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