Press Release: April 18, 2020
The global smart lighting market has witnessed a substantial growth in recent years. The growing demand for energy-efficient lighting systems, rise in the usage of wireless technology as well as increased demand for technologically advanced solutions for street lighting systems are the key factors fuelling the growth of smart lighting market. Apart from this, the development of smart cities is the major trend which is expected to gain traction in the market during the forecast period.
Europe holds the largest market share in the global smart lighting market in 2016. The high standard of living of the people, increased deployment of smart lighting in commercial, government, residential sectors as well as stringent government rules and regulations are the main factors which are propelling the growth of the market in the region. Asia-Pacific on the other hand, is the expected to grow at the highest CAGR during the forecast period owing to the factors such as development of several smart cities in the emerging economies such as India and China in the region.
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This research report on smart lighting market provides in-depth analysis of the global smart lighting market based on product type, application and major geographies for the period from 2016 to 2021. The report highlights the major market drivers pushing the growth and challenges faced by market participants. The research report provides market size and forecast for smart lighting market. The report also analyses the competitive landscape and the major player and their market share in 2016. The competitive landscape section of the report also captures and highlights the recent development in the market.
The report also profiles the major companies active in this field, including OSRAM Licht AG, Honeywell International Inc., Legrand S.A., Schneider Electric SE, Philips Lighting Holding B.V., Acuity Brands Lighting Inc., General Electric Company, CREEInc., Cooper Industries Inc. (Eaton), Lutron Electronics Co.Inc.
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Key questions this research would answer:
1. Is the smart lighting market growing? How long will it continue to grow and at what rate?
2. What are the key drivers and restraints in the current market? What will be the impact of drivers and restraints in the future?
3. What are the regional revenue and forecast breakdowns? What are the regional hotspots for growth in the silicone gel market?
4. What are the various application areas and how they are poised to grow?
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