Smart Light and Control Market was valued at USD 40.5 Billion in 2022 and is projected to reach USD 120.5 Billion by 2030, growing at a CAGR of 15.6% from 2024 to 2030.
However, looking ahead to the next decade, from 2023 to 2033, the demand for smart lighting and control systems is expected to surge significantly, with projections suggesting a substantial increase in adoption across both residential and commercial sectors. Key drivers of this demand include the growing interest in sustainable living, the expansion of the Internet of Things (IoT), and an increasing number of government incentives aimed at reducing carbon footprints through energy-efficient technology. The rise of connected ecosystems is likely to further bolster this growth, as smart lighting can seamlessly integrate with other smart home devices, from security systems to entertainment devices.
The commercial sector, in particular, is predicted to be a major player in this shift, with businesses incorporating smart lighting solutions to cut down on energy costs and increase operational efficiency. Moreover, the advent of AI and machine learning algorithms is set to enhance the functionality of smart lighting systems, allowing them to adjust to environmental factors, occupancy, and user preferences with remarkable precision. This opens new doors for personalized experiences and adds to the overall appeal of smart light systems for tech-savvy users.
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The Smart Light and Control Market has seen a steady and rapid growth from 2018 to 2022, driven by technological advancements, an increase in smart homes, and the growing demand for energy-efficient solutions. With the integration of IoT (Internet of Things) into everyday appliances, consumers have increasingly sought intelligent lighting systems that offer control via mobile apps, voice commands, and home automation systems. From energy-saving bulbs to more sophisticated light control systems, the market has been expanding in tandem with the growing popularity of smart homes and eco-conscious living. As per recent studies, the market for smart lighting solutions has recorded a compound annual growth rate (CAGR) of approximately 25% during this period, signaling a notable shift towards a more technologically integrated world.
Acuity Brands
Ams
Bytelight
Commscope
Daintree Networks
Eaton s Cooper Lighting
Enlighted
Lutron
Nxp Semiconductors
Tvilight
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Smart Light and Control Market
Residential
Commercial
Institutional
Others
Based on Types the Market is categorized into Below types that held the largest Smart Light and Control market share In 2023.
Fluorescent Lamps
Compact Fluorescent Light
Others
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Smart Light and Control Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Smart Light and Control Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Smart Light and Control Market, By Type
6. Global Smart Light and Control Market, By Application
7. Global Smart Light and Control Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Smart Light and Control Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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