Smart Lighting Market Growth and Forecast to 2026

1. Smart Lighting market To Reach USD 22 Billion By 2025

2. Market Summary The Smart Lighting market, the market is expected to reach USD 22 Billion by 2025 from USD 7.93 Billion in 2018, at a CAGR of 20% between 2018 and 2025. Modernization and development of infrastructure to transform cities into smart cities, need for energy-efficient lighting systems, increasing adoption and decreasing cost of LEDs, increased demand for intelligent solutions for street lighting systems, and growing awareness about energy savings among consumers and governments worldwide are the major factors driving the growth of the market.

3. Our Approach Our Approach Market Summary Significant research by input suppliers required for the establishment of a strong supply chain will drive the growth of the Smart Lighting market. At present, the lack of an established supply chain and distributed patent portfolio are the major restraints for the growth of the market. Huge investment requirement in infrastructure, equipment, and process development; and need for different manufacturing processes as well as equipment compatibility are the key challenges faced by Smart Lighting technology developers. Lack of universal open standards for aiding communication between all IoT devices is a major challenge for the commercialization of the technology in different products. Players will require increased investments to tackle these challenges and facilitate growth in the coming years. This report comprises drivers, restraints, opportunities, and challenges pertaining to the Smart Lighting market; and extensive value chain analysis, patent analysis, analysis of the current manufacturing capability and technology status, commercialization potential in different devices, along with market size forecasts till 2025. Some of the major companies operating in the Smart Lighting market are Philips Lighting (Netherlands), Hafele Group (Germany), Acuity Brands (US), OSRAM (Germany), Cree (US), Hubbell (US), Zumtobel Group (Austria), Honeywell (US), Legrand (France), Eaton (Ireland), Lutron Electronics (US), and General Electric (US). To Get Sample Copy of Report visit @ https://www.reportsanddata.com/sample-enquiry-form/1395

4. Our Approach Our Approach Market Summary For the purpose of this report, the market has been segmented on the basis of offering, communication technology, application, installation type and region: Offering Outlook (Revenue, USD Million; 2018–2025) Hardware • Lights & Luminaires • Lighting Controls Software • Local/Web-Based Software • Cloud-Based Software Services • Design & Engineering • Installation Services • Post-Installation Services Do you have questions about the Report or want to inquire about a Discount? Ask our Expert @ https://www.reportsanddata.com/discount-enquiry-form/1395

5. Our Approach Our Approach Market Summary Communication Technology Outlook (Revenue, USD Million; 2018–2025) Wired Technology Wireless Technology Application(Revenue,USD Million;2018–2025) Indoor Application • Residential • Commercial • Industrial Outdoor Application • Highways& Roadways • Architectural • Public Places Installation Type Outlook (Revenue, USD Million; 2018–2025) New Installation Retrofit Installation

6. Our Approach Our Approach Market Summary Further key findings from the report suggest The Smart Lighting market, the market is expected to reach USD 22 Billion by 2025 from USD 7.93 Billion in 2018, at a CAGR of 20% between 2018 and 2025. Modernization and development of infrastructure to transform cities into smart cities, need for energy-efficient lighting systems, increasing adoption and decreasing cost of LEDs, increased demand for intelligent solutions for street lighting systems, and growing awareness about energy savings among consumers and governments worldwide are the major factors driving the growth of the market. • Services play a major role before and after the installation of smart lighting systems. This segment comprises design and engineering services, installation service, and post-installation services (maintenance, and support and monitoring services). The growth of the smart lighting market for services is mainly attributed to the expected high rate of adoption of smart street lighting systems for energy conservation and ecological safety during the forecast period. Post-installation services consist of maintenance, support, and monitoring services for smart lighting systems. Among these, maintenance and support services require high expenditure. Post-installation services consist of maintenance and support for smart lighting systems to ensure long life of the luminaires and lamps, with minimum energy consumption and maximum efficiency…Continued • Read More @ https://www.reportsanddata.com/report-detail/smart-lighting-market

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