Shaping Spaces: The Evolution of Smart LED Lighting Solutions

Shaping Spaces: The Evolution of Smart LED Lighting Solutions

April 26, 2024

October 26th,2023/IndustryNewsGlobal/ -- The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Smart LED Lighting Market.

The Smart LED Lighting Market 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 will likely 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 the 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.

Segments Analysis

By Product Type

"The wired smart LED lighting product segment is expected to grow significantly during the forecast period".

Based on the product type, the market is segmented as wired and wireless. The wired smart LED lighting product segment is expected to grow significantly during the forecast period. Wired smart LED lighting products are used in corporations, 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 factors such as increasing consumer spending on trendy lifestyles as well as development in new technologies.

By Technology Type

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

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.

By Distribution Channel Type

"The offline distribution channel leads the market and is estimated to maintain its incontestable position during the forecast period".

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 electrical products from offline stores 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, attracting more consumers.

By Region

"Europe dominated the smart LED lighting market in 2021".

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 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.

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Features of the Report

This report offers high-quality insights and is the outcome of a 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.

The Smart LED Lighting Market analysis report discusses the following heads in great detail:

  • Market structure: Overview, industry life cycle analysis, supply chain analysis
  • COVID-19 Impact Assessment
  • 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 

About Stratview Research

Stratview Research is a trusted brand globally, providing high quality research and strategic insights that help companies worldwide in effective decision making. It is a global market intelligence firm providing a wide range of services including syndicated market reports, custom research, and sourcing intelligence across industries, such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas.

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Author : Emily

Frequently Asked Questions (FAQs)

Smart LED lighting refers to lighting systems that use light-emitting diodes (LEDs) as the light source and incorporate smart technology for control and automation. These lighting systems can be controlled remotely via smartphones, tablets, or other smart devices through wireless communication protocols such as Wi-Fi, Bluetooth, or Zigbee.

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