According to the latest
report published by Variant Market
Research, the global smart light fixture and control market size is projected to reach $126.6 billion by 2024, from $31.7
billion in 2016. In this report, smart light fixture and control market forecast says that the global market is growing at 18.9% CAGR from 2016 to 2024.
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Low
price of sensors to fuel the global market
The global smart light fixture and control market trend
comprises easy
installation and control, high demand in commercial & residential spaces, as
well as low price of sensors. However, Huge installation cost might limit the smart light fixture and control market growth. Additionally, increase in government initiatives about
low energy consumption across the globe would offer an opportunity for players of
market.
Market Segmentations
The global smart light fixture and control market has been divided into lighting type, technology,
application, and geography. Lighting type contains LED, HID lamps, CFL, plasma lamps, and
fluorescent lights. Fixture, and control are included in the technology sub segment. Application segment is further sub
segmented into residential, commercial, and other
applications. North America (U.S., Mexico, and Canada), Europe
(France, Italy, Germany, UK, and Rest of Europe), Asia-Pacific (Japan, China, India, South Korea, and
Rest of Asia-Pacific) and RoW (Middle East, South America, and Africa) are the
key geographical regions included in this market.
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Content (TOC) @ https://www.variantmarketresearch.com/report-categories/consumer-electronics/smart-light-fixture-and-control-market/toc
In 2016, LED in the lighting
type dominated the global market
with maximum market share and expected to continue its dominance
over the forecast period, 2016– 2024. The
growth of this segment is driven by its numerous properties such as energy
efficient, environment friendly, long lifetime, as well as controllable.
Fixture of technology
segment, accounted for the largest share of the global market in 2016
In
the technology segment, fixture held the major market share in
2016, and likely to be predominant during the forecast period 2016– 2024. Their widespread usage in commercial and
residential areas is the driving
factor for the growth of this segment.
Commercial, by
application held maximum share in the
global market in 2016
Commercial accounted major market share in 2016 and
anticipated to likely to continue the trend over the forecast period, 2016 –
2024, owing to extensive usage of lights in offices due
to 24/7 working shifts & usefulness of lighting control systems which uses
factors like occupancy, available daylight, and lights turning on or off
according to time
Asia-Pacific dominated the global market
in 2016
Asia-Pacific
held major market share in 2016 and anticipated to be the leading region
over the forecast period, 2016– 2024, due to the
rapidly occurring infrastructural expansion in the region.
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Competitive Landscape
Key players are offering innovative products and services to increase
their smart light fixture and control
market share. Major
players of the market are OSRAM
Licht AG, Cooper Industries, Inc., Acuity Brands Lighting, Inc., General
Electric Company, Honeywell International, Philips Lighting, Digital Lumens,
Inc., StreetLight Vision, Schneider Electric SE, and Legrand S.A., among others.
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Market Research offers syndicated and customized reports to fulfill clients'
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market benchmarking, estimating market size and forecast of the market from
2016 to 2024.
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John Dave,
Head - Sales
Variant Market Research
649 Mission St, 5th Floor, San Francisco, CA 94105, United States.
Tel: +1-415-680-2785
Fax: +1-415-680-2786
Email: john.dave@variantmarketresearch.com
Email: help@variantmarketresearch.com
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