Major Key Trends in Smart Lighting Market
Northbrook, IL -- ( SBWIRE ) -- 06|10|2021 -- 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. "Lights luminaires to account for larger share of smart lighting hardware market during forecast period" 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.
Major Key Trends in Smart Lighting Market
Northbrook, IL -- ( SBWIRE ) -- 06|10|2021 -- 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. "Lights luminaires to account for larger share of smart lighting hardware market during forecast period" 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.