Smart Lighting Global Market Report 2023
Market Size, Trends and Global Forecast 2023-2032
Smart Lighting Market Definition
Smart lighting is defined as lighting technology for smart homes connected to the internet. The use of sensors for instances like automatic light dimming or adjusting the brightness of light depending on the mood of the user are some of the features of smart lighting. A smart lighting system ensures high-cost savings and lower energy usage.
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Smart Lighting Market Characteristics
The global smart lighting market will grow from $13.15 billion in 2022 to $15.55 billion in 2023 at a compound annual growth rate (CAGR) of 18.2%. The global smart lighting market is expected to grow to $31.77 billion in 2027 at a CAGR of 19.6%.
Global Smart Lighting Market Size Forecast To 2032
2022 2023 2027
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13.15 15.55 31.77
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Key Market Drivers And Trends
Drivers Trends
Government support in developed and developing economies drive the growth of the smart lighting market
The use of Li-fi (Light Fidelity) network is the latest trend in the general lighting market````````````````
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Smart Lighting Market Segments
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By Product Type By Application By Light Source Smart Bulbs, Fixtures, Lighting Controls Commercial, Government, Residential, Other Applications LED, HID, Other Light Sources By Communication Technology Wired, Wireless The report covers the smart lighting market’s segments-
Major companies in the market include
Koninklijke Philips NV
Cree Inc
General Electric Company
Acuity Brands Inc
Cisco Systems Inc
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Key Market Players
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1. Measure the impact of high global inflation on market growth
2. Market sizing information from 2017 to 2023 and forecasted to 2032
3. Assess the Russia-Ukraine war’s impact on commodity supply and its direct and indirect impact on all the markets
4. Understand how the market has been impacted by the COVID19 pandemic
5. Gain a truly global perspective with the most comprehensive report available on the market covering 60+ geographies
6. Create regional and country strategies on the basis of local data and analysis
7. Identify growth segments for investment
8. Outperform competitors using forecast data and the drivers and trends shaping the market
9. Understand customers based on the latest market shares
10.Benchmark performance against key competitors
11.And more
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