Smart Lighting Market Analysis, Share and Size, Emerging Trends, Overview and Outlook, Growth And Segment Forecasts To 2020
Technavio Announces the Publication of its Research Report Global Smart Lighting Market 2016-2020 Technavio recognizes the following companies as the key players in the global smart lighting market: Acuity Brands, General Electric, OSRAM, and Schneider Electric. Other Prominent Vendors in the market are: Advanced Lighting Technology, Bridgelux, Cree, Dialight, Eaton, Emerson Electric, Everlight Electronics, MLS Electronics, and Toyoda Gosei. Browse full report with TOC@ https://marketreportscenter.com/reports/368542/global-smart-lightingmarket-2016-2020 Commenting on the report, an analyst from Technavio’ s team said: “Development of smart cities will be a key trend for market growth. The smart city concept is a set of connected solutions to improve the quality of life while forming a platform for information exchange through communication channels. Many governments worldwide are promoting the concept of smart cities and investing in projects such as smart street lighting, smart grids, urban mobility, and smart parking to ascertain economic growth in their countries. India's Prime Minister Narendra Modi's the Smart Cities Mission, the Dubai Plan 2021, US President Barack Obama’ s Smart Cities Initiative, and projects in the UK, Asia, and Africa are some of the key examples of smart city development.” According to the report, one of the key drivers for market growth will be the shift in application of lighting. Governments worldwide promote smart lighting to reduce significant energy consumption, as lighting accounts for more than 20% of the global energy consumption. Furthermore, climatic changes, stringent regulations about emissions, and increasing the cost of electricity production due to increasing power consumption tariffs are some of the key contributing factors fueling the adoption of energyefficient light sources such as smart lighting. Further, the report states that complexity and inconvenience in repair will be a challenge for the market. One of the factors that is hampering the adoption of smart lighting is the complexity of design and architecture. Smart lighting comprises a controller, a fixture, and other accessories bundled together as one unit, which makes its structure more complex compared with a traditional lighting. Consumers feel reluctant to change a defective lamp system and therefore require a service specialist to replace it due to the lack of know-how of the overall system. Although vendors like Philips are coming up with simple lighting systems, yet the design and complexity of these systems pose a challenge to the market's growth.