United States Smart Lighting Industry Research Report to 2032
ID: MRFR/SEM/12762-HCR | 100 Pages | Author: Garvit Vyas| December 2023
These systems often come equipped with features like motion sensors, daylight harvesting, and scheduling capabilities, optimizing energy usage by adjusting lighting levels based on occupancy and natural light availability. This not only helps in reducing electricity bills but also aligns with the broader national and global goals of promoting energy conservation. Moreover, advancements in IoT technologies are playing a pivotal role in shaping the US smart lighting market. The ability of smart lighting systems to seamlessly integrate with other smart devices and platforms contributes to the creation of interconnected ecosystems within homes and businesses. This integration fosters a more cohesive and streamlined user experience, where lighting is just one component of a broader network of interconnected devices. This interoperability is paving the way for innovative applications, such as smart cities, where lighting infrastructure is harnessed for urban planning, traffic management, and public safety.
Frequently Asked Questions (FAQ) :
The US Smart Lighting Market is expected to be valued at 4.5 billion USD in 2024.
By 2035, the market is projected to grow to approximately 10.5 billion USD.
The expected compounded annual growth rate for the US Smart Lighting Market from 2025 to 2035 is 8.007%.
In 2024, retrofit installations have a higher market value at 2.4 billion USD, compared to new installations at 2.1 billion USD.
The market value for new installations is expected to reach 5.0 billion USD by 2035.
Major players in the market include TE Connectivity, Signify, Osram, Philips, Leviton, Honeywell, Lutron Electronics, and General Electric.
By 2035, the market value for retrofit installations is anticipated to reach 5.5 billion USD.
Both new installations and retrofit installations are anticipated to drive significant growth in the market.
Emerging trends include increasing energy efficiency, smart home integration, and enhanced connectivity technologies.
The current market scenario favors growth due to advancements in technology and a rising demand for energy-efficient solutions.
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