Smart Lamp Market

Smart Lamp Market Outlook - 2027

Smart lamp is an energy efficient lighting system. This may involve high-efficiency fixtures and automatic systems that allow changes based on factors such as the availability of occupancy or daylight. Lighting is the purposeful application of light to achieve a certain aesthetic or practical effect. It requires lighting for the activities, lighting for the accent and general lighting. In addition to this, intelligent lighting systems ensure lower energy consumption and cost savings.

The smart lighting market is mainly driven by different regulations from government across the globe to limit the adoptions of outdated lighting technologies. The government around the globe are working to phase out inefficient lamps such as halogen and incandescent lamps, trying to promote the use of environmental lighting lamps. In addition, the government also offers subsidies and tax rebates to promote the use of more efficient lighting technologies around the globe. That serves as a major driver for smart lamp market growth.

The global smart lamp market is segmented on the basis of offering, connectivity technology, lighting technology, application, and region. Based on offering, the smart lamp market is divided into hardware, software, and services. The hardware segment is further bifurcated into lights & luminaires, and lighting controls. In terms of connectivity technology, the market is divided into wired, and wireless. The wired segment is further divided into PLC (power line control), PoE (power over ethernet), DALI (digital addressable lighting interface), and hybrid. The wireless segment is also further categorized into Bluetooth, Zigbee, Wi-Fi, EnOcean, and hybrid.

On the basis of lighting technology, the market is divided into LED, halogen, incandescent, fluorescent, and CFL. In terms of application, the market is bifurcated into indoor lighting and outdoor lighting. The indoor lighting segment is further divided into residential, commercial, and industrial. Also, the outdoor segment is further categorized into highways & roadways, public places, and bridges & tunnels. Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).

Top Impacting Factors

The major factors driving market growth include the emergence of integrated lighting control systems, forthcoming smart city initiatives in emerging economies, growing the adoption and decreasing cost of LEDs, integrating lighting solutions with smart devices, and rising awareness among consumers and governments around the world about energy savings.

PoE Protocol Expected to Show the Fastest Growth in the Smart Lighting Market

Power over Ethernet (PoE) is anticipated to grow at the highest during the forecast period. Due to decreasing cost and increasing penetration of LEDs, growing penetration of PoE lighting solutions in commercial and healthcare applications, and increasing need for cost-effective lighting solutions are driving the growth of the PoE protocol.

Outdoor Application Expected to Grow in the Smart Lighting Market

The smart lighting for outdoor end-use applications is expected to grow at a higher rate. This growth is primarily driven by the increasing focus on improving connectivity by building roads and installing smart lights for those roads, particularly in the APAC region's developing countries. This, in turn, would stimulate the outdoor market to grow.

Lights & Luminaires to Account For a Greater Share of Demand For Smart Lighting Hardware

During the forecast period, the smart lighting hardware market for lights & luminaires is expected to hold the large share. It is mainly due to the emergence of integrated lighting controls with lamps and luminaires. In addition, integrating lighting control devices with luminaires enables the device to be installed on microcontrollers, thus bringing sophistication to the entire lighting control system. Such lighting systems offer spatial resolution sensing and control which would drive demand for smart lights as well as luminaires.

Around the globe, factors such as growing need for energy-efficient lighting systems for sustainable growth, increasing demand for smart street lighting systems in developing and developed nations, and high penetration of LED bulbs & lightning drive global trends in smart lighting. High maintenance costs and construction costs in smart lighting however hamper the growth of the sector. Additionally, advances in wireless communication technology, growth in smart city project developments, especially in Asia-Pacific, and the advent of smart lightning IoT technology are expected to provide lucrative opportunities for the growth of the smart lighting market.

Key Benefits of the Report

• This study presents the analytical depiction of the global smart lamp market forecast along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global smart lamp market share.
• The current market is quantitatively analyzed to highlight the global smart lamp market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed global smart lamp market analysis based on competitive intensity and how the competition will take shape in coming years.

COVID-19 Scenario Analysis

• Global smart lamp market has been significantly impacted by the COVID-19 outbreak. New projects throughout the world have stalled, which, in turn, have led to decline in demand for analog semiconductors.
• Global factories have struggled to integrate new smart lamps as workers have stayed in their homes, which disrupted the global supply chains.
• The impact of COVID-19 on this market is temporary as just the production and supply chain is stalled. Once the situation improves, production, supply chains, and demand for smart lamps are gradually going to increase. 
• This COVID-19 lockdown would help companies think about more advanced smart lamps to enhance efficiency.

Questions Answered in theSmart LampMarket Research Report

• Which are the leading market players active in the smart lamp market?
• What would be the detailed impact of COVID-19 on the smart lamp market size?
• How current smart lamp markettrends would influence the industry in the next few years?
• What are the driving factors, restraints, and opportunities in the smart lamp market?
• What are the projections for the future that would help in taking further strategic steps?

 Smart Lamp Market Report Highlights