Smart Light and Control Industry 2021

 Smart Light refers to the distributed lighting control system composed of the Internet of things technology, wired/wireless communication technology, power carrier communication technology, embedded computer intelligent information processing, as well as energy-saving control, to realize the intelligent control of lighting equipment.

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The smart lighting market is estimated to grow from USD 13.4 billion in 2020 and projected to reach USD 30.6 billion by 2025, at a CAGR of 18.0%. The major factors driving the growth of the market include the advent of integrated lighting control systems, upcoming smart city projects in developing economies, increasing adoption and decreasing cost of LEDs, integration of lighting solutions with smart devices, and growing awareness about energy savings among consumers and governments worldwide.

The smart lighting hardware market for lights & luminaires is expected to hold the major share during the forecast period, mainly due to the advent of integrated lighting controls with lamps and luminaires. The integration of lighting control products with luminaires enables the embedding of software on microcontrollers, thereby adding intelligence to the entire lighting control system. Such lighting systems offer sensing and control at a spatial resolution, which would drive the demand for smart lights and luminaires during the forecast period.  

The smart lighting market for outdoor end-use application is expected to grow at a higher CAGR during the forecast period. This growth is mainly due to the increasing focus on enhancing connectivity by constructing roads and installing smart lights for these roads, especially in the developing countries in the APAC region.