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    Smart LED Lighting Market Report

    Smart LED Lighting Market Report
    Report code - SR1743 Delivery - 2 Weeks
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    Smart LED Lighting Market Size, Share & Forecast | 2022-27
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    Market Insights

    Smart LED Lighting Market is likely to witness an impressive CAGR of 22.5% during the forecast period. Growing awareness of technologies such as light fidelity, wireless optical networking data transmission, and Internet of Things (IoT) is primarily driving the growth of the market. The growth in demand for energy-efficient lighting systems has fostered the adoption of advanced products such as smart LED bulbs in recent years. Smart lights include Bluetooth connectivity, automatic on/off control, embedded Wi-Fi technology, and voice control options. The market is expected to be bolstered by the increasing adoption of these products as a convenient way to control home or office lighting.

    Smart LED Lighting Market – Snapshot

    Growth

    22.5% for the next five years

    Major Product Type

    Wired

    Leading Technology Type

    Hybrid

    Major Distribution Channel Type

    Offline

    Region with the highest demand

    North America

    Key Players

    Wolfspeed, Inc., Eaton Corporation PLC, Koninklijke Philips N.V., ABB Ltd, Wipro Limited, SSK Group, Tvilight Projects B.V., Digital Lumens, Acuity Brands, Inc., and Bridgelux, Inc.

     

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    Market Segments' Analysis

    Smart LED Lighting Market Share: By Product Type

    Based on the product type, the market is segmented as wired and wireless. The wired smart LED lighting product segment is expected to register significant growth during the forecast period. Wired smart LED lighting products are used in corporates, industries and government organizations, considering their comparatively low installation, low maintenance costs and reduced possibility of failure. On the other hand, the wireless product segment is expected to grow on account of the factors such as increasing consumer spending on trendy lifestyle as well as development in new technologies.

    Smart LED Lighting Market Share: By Technology Type

    Based on the technology type, the market is segmented as Hybrid, Dali, Wi-Fi, Bluetooth, and ZigBee. Hybrid technology-enabled lighting is expected to register significant growth during the forecast period. These products come with automated programmed smart features which enable them to adjust the intensity of light as per the requirement. Furthermore, they are widely used in greenhouses because they assist farmers in adjusting the light and heat in the greenhouse.

    Smart LED Lighting Market Share: By Distribution Channel Type

    Based on the distribution channel type, the market is segmented as online and offline. The offline distribution channel leads the market and is estimated to maintain its incontestable position during the forecast period. This growth can be attributed to consumers' preference for purchasing electric products from offline stores in order to receive assistance with product installation and after-service support. On the other hand, the online distribution channel is expected to grow significantly due to the increasing number of online stores, providing competitive pricing and easy installation, thereby attracting more consumers.

    Smart LED Lighting Market Share: By Region

    In terms of regions, Europe dominated the smart LED lighting market in 2021, owing to the rising adoption of luxury home decoration, as well as increased awareness of the aesthetic appeal of the products, particularly in the key markets such as Germany, the United Kingdom, and France. On the other hand, North America is expected to grow at the fastest CAGR over the forecast period. Factors such as the high operational cost of lighting in commercial buildings in the United States and Canada will drive the regional market growth over the forecast period.

    Market Scope & Segmentation

    Smart LED lighting systems are energy-efficient lighting solutions that save costs in the long run. They comprise a software that connects to a smart accessory and enables the user to automate and control the lights remotely.

    This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

    Smart LED Lighting Market Research Report - Features

    Market Segmentation

    4

    Regions Covered

    4

    Countries/Sub-Regions Covered

    17

    No. of Figures & Tables

    >150

    Company Profiles

    10

     

    The Smart LED Lighting Market is segmented into the following categories.

    Smart LED Lighting Market Size, Share, & Forecast, by Product Type:

    • Wired (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Wireless (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Smart LED Lighting Market Size, Share, & Forecast, by Technology Type:

    • Hybrid (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Dali (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Wi-Fi (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Bluetooth (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Zigbee (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Smart LED Lighting Market Size, Share, & Forecast, by Distribution Channel Type:

    • Online (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Offline (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Smart LED Lighting Market Size, Share, & Forecast, by Region:

    • North America (Country Analysis: the USA, Canada, and Mexico) 
    • Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
    • Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
    • Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

    Key Players

    Some of the key players in the smart LED lighting market are:

    • Wolfspeed, Inc.
    • Eaton Corporation PLC
    • Koninklijke Philips N.V.
    • ABB Ltd
    • Wipro Limited
    • SSK Group
    • Tvilight Projects B.V.
    • Digital Lumens
    • Acuity Brands, Inc.
    • Bridgelux, Inc.

    Research Methodology

    This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
    • Market trend and forecast analysis
    • Market segment trend and forecast
    • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
    • Attractive market segments and associated growth opportunities
    • Emerging trends
    • Strategic growth opportunities for the existing and new players
    • Key success factors

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to 3 players)
    • SWOT analysis of key players (up to 3 players)

    Market Segmentation

    • Current market segmentation of any one of the product types by technology type. 

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com

    Frequently Asked Questions (FAQs)

    Smart LED Lighting Market is likely to witness an impressive CAGR of 22.5% during the forecast period.

    Wolfspeed, Inc., Eaton Corporation PLC, Koninklijke Philips N.V., ABB Ltd, Wipro Limited, SSK Group, Tvilight Projects B.V., Digital Lumens, Acuity Brands, Inc., and Bridgelux, Inc. are some of the key players in the market.

    North America is expected to grow at the fastest CAGR over the forecast period.

    Hybrid technology-enabled lighting is expected to register significant growth during the forecast period.