The global smart lighting market size is expected to reach USD 72.10 billion by 2032, according to a new study by Polaris Market Research. The report “Smart Lighting Market Share, Size, Trends, Industry Analysis Report, By Type (Smart Light Bulbs, Smart Lights Connected with Hubs and Motion Sensing Lights); By Communication Technology; By Application; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The popularity and demand for lights have grown in commercial and residential areas due to their ability to link with IoT devices and provide ambient lighting using smartphones or tablets. Smart lights may be dimmed with different color tones depending on the situation, have their on/off times set, track their energy use, and link to other devices through Bluetooth, Wi-Fi, SmartThings, Z-Wave, or ZigBee.
Moreover, smart lights may be voice-controlled by integrating with a platform like Google Assistant, Amazon's Alexa, Apple's Siri, or Microsoft's Cortana. These numerous functions beyond illumination and the rising popularity of IoT devices and smart assistant platforms have opened up new business opportunities for smart lighting.
Government initiatives promoting energy efficiency and environmental protection, together with strict restrictions, deter people from using incandescent lighting, which is expected to increase demand for LED smart lighting. Over 19% of the world's power is used by the lighting industry, which also accounts for 6% of all greenhouse gas emissions. LED smart lights, on the other hand, are incredibly effective. They link gadgets to gather data for upcoming procedures and use nearly 70% less energy. They are devoid of any mercury contamination and have much longer lifespans. Likewise, LED lights don't release any dangerous greenhouse gas emissions.
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The use of smart lights is anticipated to rise due to advantages including regulated power consumption, longer life, numerous light settings in a single lamp or luminaire, and accessibility to a large selection of contemporary decorative lighting items. Smart lighting adoption has yet to reach its full potential in the residential, commercial, and industrial sectors. Thus, it is anticipated that demand for LED-based smart lighting will increase throughout the projection period due to numerous government measures to encourage their usage.
Smart Lighting Market Report Highlights
Polaris Market Research has segmented the Smart Lighting market report based on type, communication technology, application, and region:
Smart Lighting, Type Outlook (Revenue - USD Billion, 2019 - 2032)
Smart Lighting, Communication Technology Outlook (Revenue - USD Billion, 2019-2032)
Smart Lighting, Application (Revenue - USD Billion, 2019 - 2032)
Smart Lighting, Regional Outlook (Revenue - USD Billion, 2019 - 2032)