Lese-TippSmart Lighting Market by Lights & Luminaires, Lighting Controls expected to worth 20.98 Billion USD by 2023
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The major factors driving the growth of the smart lighting market include 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.
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.
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Indoor application (residential, commercial, and industrial) is expected to hold a larger size of the smart lighting market during the forecast period. In residential applications, smart lighting can be installed according to the requirement of a particular room or an entire house. The incorporation of wireless technology in smart lightings would help the market for residential indoor application to grow at a high rate.
The commercial application of smart lighting includes the implementation of these lightings in offices, retail shops, shopping malls, and hospitality infrastructure. Reducing energy consumption has become a major objective for building owners, governments, utilities, and other stakeholders