Smart Lighting Market is predicted to reach USD 40 billion at a CAGR of 20.1% during the forecast period

Market Research Future Published a Half-Cooked Research Report on "Global Smart Lighting Market"

MRFR recognizes the following companies as the key players in the global Smart Lighting market— Philips Lighting Holding BV (The Netherlands), Acuity Brands Lighting, Inc. (US), General Electric Company (US), Osram Licht AG (Germany), Honeywell International Inc. (US), Legrand S.A. (France), and Schneider Electric SE (France).

Smart Lighting Market Highlights

The global Smart Lighting market is accounted to register a CAGR of 20.1% during the forecast period and is estimated to reach USD 40 billion by 2032.

The smart lighting market refers to the industry focused on the development, manufacturing, and sale of intelligent lighting systems and solutions that can be controlled and automated using technology such as sensors, wireless communication, and smart devices.

Segment Analysis

The global Smart Lighting market has been segmented based on Component, Product Type, Light Source and Communication Technology.

On the basis of Component, the market is segmented into software, and service. The majority of the income from the smart lighting market was generated by the software segment. The expanding usage of smart lighting for data-driven purposes in critical places is what is driving the demand for it.

Based on Product Type, the global Smart Lighting market has been segmented into luminaries and lighting controls. During the forecast period, 2024-2032, the luminaries segment is expected to grow at the fastest rate. It dominated the market in 2021.

Based on Light Source, the global Smart Lighting market has been segmented into LED, FL, and HID. In 2021, the LED segment dominated the market, and it is anticipated that over the forecast period, 22024-2032, it will grow more quickly than any other section. Construction is increasing in both emerging and developed nations, and government regulations limiting the use of inefficient lighting systems are to blame for this.

Based on Communication Technology, the global Smart Lighting market has been segmented into wired and wireless. In 2021, the segment with the biggest share was wireless. Customers who need connections within a short distance strongly prefer wireless connectivity in a smart lighting system.

Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Smart Lighting Market Research Report

Regional Analysis

The global Smart Lighting market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Smart Lighting market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Smart Lighting market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Smart Lighting market comprises of Middle East, Africa, and Latin America.

The Europe Smart Lighting Market dominated this market in 2022 USD 4.04 billion in 2021 and is anticipated to expand at a notable CAGR during the research period. The IT industry's rising construction sector, which is gaining from increasing investments and new infrastructure development efforts, might be related to the market's progress in this area.

Additionally, Due to customers' increased adoption of smart lighting and the region's energy-efficient solution to the lighting issue, North America holds the second-largest market share for smart lighting. Additionally, the UK smart lighting market had the quickest rate of growth in the North American region, while the Germany smart lighting market had the greatest market share.

Moreover, From 2024 to 2032, the smart lighting market in Asia-Pacific is anticipated to experience the fastest CAGR growth. This is because there is a growing opportunity for new demand for smart lighting due to the expansion of commercial building construction for office, retail, and entertainment purposes. Additionally, the India smart lighting market had the highest rate of growth in the Asia-Pacific region, while China's smart lighting industry had the largest market share.

Key Findings of the Study

• The global Smart Lighting market is expected to reach USD 40 billion by 2032, at a CAGR of 20.1% during the forecast period.


• The Europe Smart Lighting Market dominated this market in 2022 USD 4.04 billion in 2021 and is anticipated to expand at a notable CAGR during the research period.


• Based on Product Type, During the forecast period, 2024-2032, the luminaries segment is expected to grow at the fastest rate. It dominated the market in 2021.


• Philips Lighting Holding BV (The Netherlands), Acuity Brands Lighting, Inc. (US), General Electric Company (US), Osram Licht AG (Germany), Honeywell International Inc. (US), Legrand S.A. (France), and Schneider Electric SE (France).